XN000022-1980-01-16 — Page 6

WEDNESDAY, JANUARY 16, 1980

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A MAJOR ISSUE TO BE RESOLVED IS THE RIGHT OF REPOSSESSION OF PREMISES.

MR BREMRIDGE STATED THAT IT WAS POSSIBLE TO CONSIDER SPECIAL REVERSION ARY LEASES OF SAY FOUR OR FIVE YEARS, WHICH WOULD BE REGISTERABLE. THEY WOULD BE AT A FLAT RENT, AND THE LANDLORD WOULD KNOW IN ADVANCE THAT HE WAS NOT COMMITTED TO A LIFETIME TEN ANT.

HE SAID HE WAS LESS CONCERNED WITH THE RENTAL PROBLEMS IN RESPECT OF TENANCIES TAKEN BY EXPATRIATES, LARGE FIRMS, CONSULATES AND SIMILAR TENANTS.

WHILE CONCEDING THERE WAS INDEED SOME VALIDITY IN THE ACCUSATION THAT THEY WOULD BE AS IT WERE SUBSIDISED BY THEIR LANDLORDS, HE POINTED OUT THAT SOME LANDLORDS HAD FOR SOME TIME BEEN INSISTING ON SIGNING LEASES ONLY WITH COMPANIES AND NOT WITH INDIVIDUALS, AND HAD EVEN ARRANGED FOR INDIVIDUALS TO TURN THEMSELVES INTO PRIVATE LIMITED COMPANIES.

+WITH THIS BACKGROUND UNLESS CRISP ALTERNATIVE MEASURES CAN BE DEVISED IT WAS INEVITABLE THAT ALL FLATS SHOULD FOR THE TIME BEING BE BROUGHT UNDER CONTROL, AND NOT ONLY JUST THOSE UP TO A CERTAIN VALUATION, OR LEASED TO CERTAIN SECTIONS OF THE COMMUNITY,

+OTHERWISE THE LOOPHOLE TO EXCESSIVE INCREASES WOULD REMAIN

OPEN.+

REGARDING THE PROVISION OF MORE LAND, MR BREMRIDGE SAID HE WAS NOT IN FAVOUR OF GOVERNMENT SELLING LAND AT BELOW MARKET PRICE BECAUSE HE BELIEVED THAT FINAL RENTS AND SALE PRICES OF RESIDENTIAL PROPERTIES WOULD REFLECT GOING MARKET VALUES.

HE SUGGESTED THAT NEW LAND SHOULD BE FED ONTO THE MARKET IN BULK, AND NOT DRIBBLED ON IN SMALL LOTS.

+THERE IS EVIDENCE THAT DESPITE RESTRICTIONS IMPOSED BY GOVERNMENT IN LAND SALES, LAND IS BEING HOARDED IN THE PROSPECT OF SPECULATIVE GAIN. THERE THUS SEEMS TO BE A CASE FOR THE SALE OF LARGER LOTS, POSSIBLY WITH THE RELEASE OF STAGES BEING TIED TO PERFORMANCE BY THE DEVELOPER.

+THE POSSIBILITIES THAT THIS WOULD PROVIDE FOR A BETTER PLANNED ENVIRONMENT ARE NOT TO BE IGNORED. NOR TO BE IGNORED ARE THE REDUCED OPPORTUNITIES THUS AFFORDED TO THE PREVALENT PROPERTY RINGS.+

HE QUERIED WHY INFRASTRUCTURE SHOULD NOT BE PROVIDED BY THE DEVELOPERS RATHER THAN BY THE INEVITABLY DELIBERATE GOVERNMENT PROCESS AND URGED THE GOVERNMENT TO TAKE THIS MATTER MORE SERIOUSLY.

MR BREMRIDGE ALSO SPOKE ABOUT THE POSSIBILITY OF TAKING THE PROBLEMS OF LAND OUT OF THE OVER-BURDENED ENVIRONMENT BRANCH THE NTA AND THE PWD. +SURELY A SEPARATE DEPARTMENT OF LANDS I LONG-OVERDUE7+ HE ASKED.

AS TO THE SUGGESTION THAT RENTAL CONTROL MEASURES COULD BE APPLIED TO COMMERCIAL AND INDUSTRIAL PROPERTY. MR BREMRIDGE SAID HE, FOR ONE, WOULD BE OPPOSED TO THIS, CERTAINLY AT THIS JUNCTURE.

/+THERE IS