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45
Erection of Town Hall, Vestry Hall, Offices, etc-
It will be remembered that last year the Vestry resolved to purchase the freehold
and leasehold interests in Nos. 85 and 87 Neptune Street as an additional site for the
above buildings, for the sum of £1250, subject to the sanction of the London County
Council being obtained to borrow the money.
The Council were approached on the matter, and on the 12th April, 1891, a letter was
received from the Assistant Solicitor to the Council, stating that, subject to the Council
hereafter giving their consent under seal to the proposed borrowing, and to the approval of
the Treasury to the period proposed for the repayment of the loan, the Council were prepared
to advance the Vestry £1250, upon condition that it was taken up at once and repaid by equal
annual instalments on the 1st April, within 50 years, interest being charged on the amount for
the time being outstanding at the rate of £8 10s. per cent, per annum, and paid quarterly on
the 1st January, 1st April, 1st July and 1st October, and that the Vestry paid the costs of
the loan, and asking if the Vestry would take up the loan on these terms.
This the Vestry agreed to do, and the loan was taken up on the 2nd May, 1891, and
the purchase of the property duly completed.
On the 1st May, 1894, the Works Committee of the Vestry reported having inspected
the ground plan of the site for the erection of the Town Hall, etc., buildings, prepared by
the Surveyor to the Vestry, and expressed the opinion that it would be advisable to acquire the
remaining two houses in Neptune Street (Nos. 81 and 83) inasmuch as such acquisition
would obviate any question as to the forecourt line in Neptune Street, and would give a back
entrance to the new buildings, thus materially improving the site; that they understood
the interests of the two houses in question could be purchased for the sum of £1,150, which
was £100 less than the price paid for Nos. 85 and 87, and that they had therefore instructed
the Clerk to write to the parties interested for confirmation, subject to which they
Recommended—That the Vestry approach the London County Council with the
view of their granting a further loan of £1150 to purchase the property in question.