17
- 4
the area lying between Queen's Road and the Public Gardens: and for this purpose I regard the Magazine
Gap site as being the most eligible of those put forward for consideration. The distance between the proposed site and the town is not, I think, a serious disadvantage; the former is not more than a six
minute run by car from the present Government House, which lies just above the Secretariat and other offices; obviously, therefore, the removal thereto would not greatly inconvenience anyone.
5.
The outside cost of erection including the preparation for this site is at the moment put in round figures at $2,000,000. Funds can be found by the utilization of the sum of $840,000 now lying to the credit of the Government House and City Development Fund and the amounts which it is hoped to realize by the sale of the old City Hall site and certain other sites. On the basis of present valuations of these sites the financial scheme would be as follows:-
(a) Utilization of amount lying to
the credit of the Government
House and City Development Fund.
(b) Sale of old City Hall site,
15,500 square feet at $65 per
square foot.
(c) Sale of Beaconsfield Arcade site
13,300 square feet at $50 per
square foot.
840,000
$ 1,007,500
es
665,000
No comments yet.
Private notes are available after approval.