B
banal.:
tead o
har
C
A
3
XCRI(77)19
official position. The point made in paragraph 4 that the problem is a general rather than a particular one is entirely valid, but in this case the recent conversion to short term tenancy rates has produced the greatest increases because:
(a) the ex-licensee is moving straight to
1977 rates;
(b) the land is very largely covered with structures attracting higher rates of tenancy rental.
POC 1912/77
it ters be
Crown Land Licence K-1393 was converted on 1st August 1976 to Short Term Tenancy KX-514 for one year certain and thereafter quarterly. The tenancy is now subject to a rental review and the rent will be increased from $2, 700 per annum to $6,045 per annum with effect from 1st May 1978, an increase of more than 100% due to the fact that a recent inspection shows that the whole of the land has now been covered with structures and therefore the built-over rate applies to the whole area.
POC 1574
sdi gode dietman not benbontul aas Mrs LAW had a Crown Land Permit No K0405 at Hai Tan Street which was cancelled in order that the site could be cleared as the area com- prised part of a sale site, NKIL 5712, which was auctioned on 27th August 1976. The per- mittee expressed an interest in taking over a site at Yuet Lun Street, Lai Chi Kok, on tenancy for light industrial use. This was agreed and a tenancy was created for one year certain from 13th July 1976 and thereafter quarterly subject to
a rent of $2, 100 per quarter ($8,400 per annum), with
the use restricted to open and covered storage purpose only.
On 27th July 1977, the tenant was advised that the rent would be increased to $33, 000 per annum commencing from 13th April 1978, based on a rental of $65 per square metre per annum in respect of the area that was not built over land
No comments yet.
Private notes are available after approval.