CO129-617-4 New American Consulate building- lease for site 19-4-1949 - 11-7-1949 — Page 5

upon which the 5

general principles

Memorandum

think

4.

Officers

i

based it is, 4

not

unduly involved.

The Valuation & Resumption

subunits.

(a) that the

Weehold interest

should

the premmin for

be fixed at

higher figure than that

which

would

result if

the leasehold Kremmin were merely

increased by

in land

in

the orthodox methad

of calculation

to

the figure

appropriate to

lease in

this higher figure

kerpetuity;

would apparently be freed arbitrarily.

(b) that if the Crown Rent (ie

freehold ground vent)

mistead

capitalised

so at

an

where

are

in

done

7 3

Cares

Rents

results

payment in

it

й tō

be

should be

assumed interest.

57 4%%

an

in

leasehold Crown

capitalized. This

higher capital

The

case

of the

freehold land

All thi

amounts

to

submission that

more than the

freehold land is worth more them leave

hold

land

(even where

the lease

no to 999 years) and, subject to

Comments

have

I think

we

objectims to

Your

say

that

may the proposed