former Naval Dockyard, which was advertised for sale in August last year, were examined in the early part of the year but none of the tenders were considered acceptable.
5.05. The general shortage of credit facilities also affected building development, and during the year Government approved a concession in connexion with building covenants to permit a free extension of commencement or completion time for a period of one year in all cases where the building covenant was entered into before the 1st July, 1965.
5.06. In contrast to the falling off in auction and tender sales there was considerable activity in the sphere of private treaty grants and the number made increased from 41 in the previous year to 114 in the current year. Nor was there any lessening in land requirements for Government and Government-sponsored projects and allocations were made for these purposes.
5.07. Full statistical details concerning land transactions are given at Appendix R.
Valuation Section
5.08. The Valuation section is concerned with the enforcement and modification of Lease Conditions; the compulsory acquisition of land required for public purposes; and the making of valuations required in connexion with these functions, in addition to those for estate duty and certain statutory assessments. With the lack of capital available for development there was a sharp decrease in applications for modifications of lease conditions restricting development. For the first time cases were presented to Tribunals appointed to hear appeals against assessments of incremental value made under legislation in respect of dangerous buildings.
Property Management Section
5.09. The Property Management section which was formed during the year is responsible for the letting and management of premises owned but not occupied by the Government and it conducts negotiations for the letting of Government buildings and piers, which are not required for the time being for Government purposes or which are intended for non-government use. It also manages buildings on former leased land which have reverted to the ownership of the Crown either through re-entry or through lease expiration.
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former Naval Dockyard, which was advertised for sale in August last year, were examined in the early part of the year but none of the tenders were considered acceptable.
5.05. The general shortage of credit facilities also affected building development, and during the year Government approved a concession in connexion with building covenants to permit a free extension of commencement or completion time for a period of one year in all cases where the building covenant was entered into before the 1st July, 1965.
5.06. In contrast to the falling off in auction and tender sales there was considerable activity in the sphere of private treaty grants and the number made increased from 41 in the previous year to 114 in the current year. Nor was there any lessening in land requirements for Government and Government-sponsored projects and allocations were made for these purposes.
5.07. Full statistical details concerning land transactions are given at Appendix R.
Valuation Section
5.08. The Valuation section is concerned with the enforcement and modification of Lease Conditions; the compulsory acquisition of land required for public purposes; and the making of valuations required in connexion with these functions, in addition to those for estate duty and certain statutory assessments. With the lack of capital available for development there was a sharp decrease in applications for modifica- tions of lease conditions restricting development. For the first time cases were presented to Tribunals appointed to hear appeals against assessments of incremental value made under legislation in respect of dangerous buildings.
Property Management Section
5.09. The Property Management section which was formed during the year is responsible for the letting and management of premises owned but not occupied by the Government and it conducts negotia- tions for the letting of Government buildings and piers, which are not required for the time being for Government purposes or which are intended for non-government use. It also manages buildings on former leased land which have reverted to the ownership of the Crown either through re-entry or through lease expiration.
48
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