London's Pulse: Medical Officer of Health reports 1848-1972
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Hints from the Health Department. Leaflet from the archive of the Society of Medical Officers of Health. Credit: Wellcome Collection, London
Chelsea 1902
Annual report for 1902 of the Medical Officer of Health
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23
Section III.
HOUSING OF THE WORKING CLASSES.
Onslow Dwellings.
In November, 1901, the Borough Council acquired the freehold of
Onslow Dwellings, from Mr. Sloane Stanley, for the sum of £13,350,
subject to a lease which expires at Christmas, 1909. A loan of £13,500
was obtained from the London County Council at 3½ per cent.,
repayable by equal annual instalments of £270 in 50 years. The facts
relating to the property are set out in my Annual Report for 1901
(page 16).
On the 22nd October, 1902, the Borough Council decided to purchase
from the Freake Trustees the leasehold interest in Onslow Dwellings
for the sum of £5,000. The London County Council has agreed to
advance the sum of £5,000 on loan at 3£ per cent. for a period of 60
years.
The following statement shows the financial position as regards Onslow Dwellings:—
| Loan of £13,500 for 50 years, at 3£%— | |||
| Annual instalments for 10 years. | £2,700 | ||
| Interest for 10 years | 4,725 | £7,425 | |
| Loan of £5,000 for 60 years, at 3½%— | |||
| Annual instalments for 10 years | 833 | ||
| Interest for 10 years | 1,750 | ||
| 2,583 | |||
| £10,008 | |||
| Estimated net rentals for 10 years | 8,820 | ||
| £1,188 | |||
In 10 years a deficit of £1,118 will accrue, or £119 per annum,
which must be defrayed from the rates.
In the 10th year the net rental from the Dwellings will be sufficient
to meet the instalments and interest on the loans, and the Dwellings
will become remunerative.
Beaufort Street Site.
On the 16th July, 1902, the Borough Council agreed to purchase
from Earl Cadogan, E.G., his freehold interest in l.6 acres of land on
the east side of Beaufort-street, for the sum of £12,500, the market