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10
1a Penton Street. These premises, being newly built, were at
first let at £70 per annum and assessed accordingly. It was
evident that this was a speculative rental only, and results have
proved that it could not be maintained, the tenant failed to pay the
rent and loft. The premises were empty for some time, but were
ultimately let for £52 on an agreement, the tenant to do the necessary
repairs if required. This being a bona fide letting the Vestry
have reduced the assessment accordingly to £54 gross value.
Nos. 113, 117, 125, 127, 131, 133, Goswell Road. These
premises, being new, were originally let at £60 per annum each
on agreement for seven years, and were assessed accordingly.
Long before the expiration of the term, it was found that these
rentals could not be maintained, and the owners, the Improved
Industrial Dwellings Company, returned £12 per annum to each
of the tenants in reduction of the rents, and they appealed for a
reduction of the Assessment in consequence, but the Vestry
declined to entertain the appeal while the rental stood at £60
under the agreement.
The term of the Agreements having recently expired, the
rents have been reduced to £45, and on appeal the Vestry have
reduced the Assessments accordingly, and they very strongly
urge you to confirm such alterations, the Vestry being strongly
of opinion that these bona fide alterations of value are such as
Clause 47 of the Act distinctly contemplates and provides for.
You will at once see the extreme hardship and injustice to the
Tenants, and how it would militate against letting such premises,
were the present assessments at £60 each continued for the
ensuing five years.
102, St. John Street. Reduced from £120 to £90; and
202 St. John Street reduced from £50 to £30. The same may
be said of these cases.
In urging you to confirm these alterations, the Vestry feel
they have both law and equity on their side, and that Provisional
and Supplemental Lists were, to use the words of Chief Justice