XN000022-1974-01-14 — Page 9

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NEW ESTATE SHOP RENTS ARE FAIR

Monday, January 14, 1974

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HOUSING DEPT

The Deputy Director of Housing, Mr. Frank Carroll, said today the

rent adjustments for shops in North Point Estate were no greater than those

for shops in other estates, and in some cases even less.

Commenting on recent moves taken by shop tenants in the estate in

protest against the rent increases which come into effect on April 1, Mr. Carroll

emphasised that the new rates were based on fair adjustments.

"Rents for shops in the estate have previously been substantially

below the full market value and the shop tenants have enjoyed this advantage

which their counterparts in the private sector did not have," Mr. Carroll said.

"The Housing Authority is required by the Housing Ordinance to.

make both ends meet and it is the intention of the Authority to let its

shops in public housing estates at the commercial rent level to assist its

general finances with particular reference to the provision of new housing

estates," he added.

The shop tenants would also enjoy a rent freeze for at least three

years until their tenancies are due for renewal again, Mr. Carroll said.

The new rents, ranging from about $1.50 to $2.50 per square foot, were

considered by the Commissioner for Rating and Valuation as fair and reasonable.

As to the tenants' request for transfer of their tenancies to mombers

of their families, Mr. Carroll said such applications would be considered and

approval given to appropriate cases as the Authority had done in the past.

"They will also be permitted to change their trades in appropriate

circumstances as they have previously," he added.

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