THOSE GOVT. LEASES

Daily Telegraph (Napier), Volume 58, Issue 72, 27 April 1929, Page 8

THOSE GOVT. LEASES

RUSSELL STREET SHOPS. MR MADDISON S MOVE. At lnst night's meeting of the Hast- ' ings Borough Council the Alayor, Mr ; G. A. Maddison, reported that he had i discussed with the General Manager oi i Railwavs. the position of the leases oi j i tlie Government raihvav properties in ! i Russell street, from Mes-sis Webber | nnd Shattky's buildings to tlie Grand j [ Hotel. | Reporting on the matter tlie Mayor j said that under the present position, ; ! tlie Government could cancel the pre- j sent lease (which is for 41 years with j a revaluation at tlie end of 21 years), i and grant in its plaee a Glasgow lease. which was practically a lease in per- j petuity with a revaluation at the end of every 21 vears. "I maintain," said llis Worship, "that the present lessoes of the old wooden buildings at the corner of Russell and Heretaunga streets shonld not be allowed this privilege, unless some undertaking is given, that they will, within a reasotiable period, erect new nnd up-to-date buildings. "These lessees have a period of approximately 25 years to run, with a revauation at the end of the next four years. "I am sure you will agree that in the interests of the town, it is desired that substantial buildings sliould be ereeted on these areas. Mr Sterling finally stated that in the event of new leases being applied for and given to tlie present lessees, he would, if possible, stipulate that the new buildings must he ereeted within a certain time, and that the plans and specifioations of sucli buildings would liave to be snbmitted to and approved of'by tbe Minister of Railways."