The Sun.
London, England, 1864-03-19 00:00:00

ITIHE CITY oFFICES COMPANY (Limited).
1 Incorporated under " The Companies Act, 1862"

The MERCANTILE CREDIT A- 401 lATION, Limited,
in conjunction w th 'he CREDIT FONCIER, Limited, are
prepared to RECEIVE SUBSCRIPTIONS for the CAPI-
TAL of the CITY OFFICES COMPANY, Limited.

Capital £1,000,000, in 20,000 Shares of £5O each.
Deposit on Application £1 per Share, and £4 on Allotment.
Calls not to exceed £5 per Share, an 1 at intervals of not less

thin three months.

No Call to be made until after the expiration of Three
Months from the date of Allotment.
It 's not in,ended to call up more than £2O per Share ; but
when it is found that more ,hartir Capital can be adv 4nta-
geously employed, power will be taken to increase the Capi-
tal, a preference b ing given to the then existing Share-
holders.
DIRECTORS._ _ _

H. F. L. Astley, Erg., iMessre. Astley and Co.), Nicholas.

lane.
Thomas Dakin, Esq. (Alderman\ Abohurch-lane.
Charles Ellis, Esq., Lloyds.
James Levick, Esq., K ntes Arms-yard.
Edward M sterman, Esq. (Messrs. Masterman, Pe'ers, and
Co. , London.
Edward Warner, Esq., M.P.
P. G. Westmorland, Esq. (Messre. Joyce and Co.), London.
The Right lion. Jams Stuart Wortley.

BANKERS.
Messrs. Masterman, Peter•, and Co., London.
SOLICITOR&
Messrs. Edwards and Co., Westminster.
Messrs. Newbon, Evans, and Co., 25. Nicholas-lane.
Messrs. Hughes, Masterman, and Hughes, Bucklersbury.

BROKERS.

Messrs. Laurence, Son, and Pearce. Bartbolornew-lane,
Messrs. Robins and Barber, Threadneedle..strest

AUDITORS,

S. Lowell Price, Esq., Puglia Accountant, 5, Gresham-street.
Frederick Maynard, Esq., Public Et.e:,ountant, 19, Bread-
street,
SECRETARY.
G. W. Benwell, Esq.
TEMPORARY OFFICES.
The Offices of the Mercantile Credit Association, Limited,2l,

Threadneedle-street.
Of all securities or property that can come under the deno-
mination of " first-class," both for stability as well as in-
creasing in value year by year, none can at all compare with
Freehold or long Leasehold city of London Property, espe-
cially that portion situated within a radius of 1,000 yards of
the Bank of England ; this fact is so well known that the
greatest competition is excited when any property of this de-
scription is offered in the market, and larle as the rise in
value of such prorerty has been during the last few years, it
is admitted by all conversant with the subject that a still
greater increase must continue to take place, from the im-
possibility of supplyin,x the suitable ac( ommodation re-
quired by joint-stock companies and commercial and profes-
sionalfirms.

The C.ty Offices Company, Limited, have agreed for the
purchase of the undermentioned sites of land, with the build-
ings thereon ; which, for eligibility of situation and size of
each block, are such as can rarely be acquired—as the follow-
ing enumerate, n will amply p.ove ; they are in five blo ka,
viz. : —A, B; C, D, and E.
Block A consists of the Freehold Premises, 25, 25A, 26, 27,
in Clement's-lane, Lombard-street, with No. 9, 10, and 11, In
Nag's Head-court, and 3,4, and 6, Church-court, the whole
forming a magnificent block of premises, with lights, and
entrances on three sides, and extending back to Gracechurch-
street ; it has 6S feet tcontac,re and 150 depth, and c ontains
9,900 square superficial feet, and is the largest block so
near Lombard-street that has been in th... market for some
years.
;Block B consists of the well-known Lea zehold block of
New Offices, situited 29, Leadenhal -street, near.y op-
posite the Peninsular and Orin; a. Company's Office, and
extending back ,cc Lime-street-,quare ; it has been erected
witlyn the ast three y..ars, from the designs of John Which-
cord, E ,q., a, :d contains 120 firs -class Offi.es, with Four
Shoos, the who e let to first-class Merchants and others;
it ha fire-proof torrid rs and stone st ,Ireases, Fni possesses
the most modern Licprovements, including Telegraph Sta-
tion, Buffet, &e., in the build,ng. The lease is for 9i ye rs, eta
ground-rent of £7OO per annum; it has a frontage of au Let,
and 170 feet in depth, and contains 12,0)0 squ ire superficial
feet.

Bock C consists of the h ,ndsome ed.ll:es erected within
the ast seven years, ir,m d sUlls by John B rnett, Esq.,
archit ct, for 31, ssrs Jon sari sod :sons, si vet and, Its, and
s'tuated 17 ant is, Cori,hi I, dlreety opposi e the Bank t f
Eng and, and alike fore egan' eof building as well as itua-
ton erh ins the most desirab'e In the laity. With a very
tr,fling outlay then ,in accord, i:ce wit, the plans and designs
origin illy ma, e, will be converted in about thr. e w, el :s in o
Offices, and wo-third, of the building has a ready been let,
the ground floor and mez Inc floor b in, rented by the
Credit Al obilier and Cr6dit Ponder Companies. These Pre-
mises arc Leasehold for 6 1 years, at a ground-rent of £6OO
leer annum.
Bloc 1.) consists of the new and substantial block of
Offices, erected w ithin the last three yeas s, and are built in
the most übstant Li manner. It contains fifty-five offices, be-
sides vaults, the whole, exci-pting, four, being let, and offers
being made for these. It is Vreeho d, has x frontage of 62
feet ant depth of B)feet, and contains 4,160 supernclal square
feet, and is situ -ited a. 6', Great Tower-street, near 3lark-
;ane.

Block E is the largest block in the City ; it is situated in
Bishopsgate-street, opposite St. Hekn's-place, with a
thorou Mare to be got through to Old Broad-street, and in
the centre of the block adjoins Gresham House ; it contains
25,i 00 square feet. It may be convenient to give an idea of
the size of this fine site of land, to say that it is more than
four times the size of the Auction Mart, lately sold, and when
covered will be among the largest and most conveniently ar-
range.l Offices in the City. This plot is Leasehold for 99
years, at a ground rent of £l,ooo per annum.
The price at which the City Offices Company (Limited) has
agreed for the purchase of the whole of tit., before enume-
rated five blocks is £305,000,
including all buildings thereon;
this price gives, after adding thereto the cost of purchasing
the freehold f the whole of the leasehold portions, and de-
ducting the value of the new buildings thereon, an average
price of only £9 per square foot, which, compared with the
prices paid for the three last properties within six weeks,
gives the following results, viz.:—
The Auction Mart
5,800 square foot, cost £1.15,25 , which (rives an average of £2O
per foot (Freehold), containing an area of about
The Leasehold Premises, No. 80, Lombard-street, occupied
by the Colonial Insurance Company, containing only 1,080
feet, sold to a well-known Banker for £30,000, subject to a
;ground-rent of £5OO per annum, for 61 years, which, allow-
ing as in former calculations for purchase of freehold, and
deducting the value of new buildings thereon, gives £37 per
square foot.
The Leasehold Premises in Finch-lane, lately occupied by
the London and Middlesex Bank, containing only 6io feet,
realised .£lO,OlO, and this subject to a ground-rent of £5 '0
per annum, which, allow.ng tor purchase of freehold,". and
deducting value of new building, gives about £3O per square
foot.
It will be seen, therefore, that if large p
costing £2O, £3 profits can be rea-
lised, as they Undoubtedly can be , on land
and £37 per foot respectively, the prospects probable
profits of those acquired by tnis Company, costing only
per foot, will be evident at first sight ; if they were re-sold
and
at even the lowest of these three quotations, it would leave
the City Offices Company (Limited) a very large profit on the
cost. _ _

The Company's plan of operations will consist in adapting
such of these premises as may be suitable, and erecting new
buildings on the remainder, the whole to be let off as Offices
suitable for Banks, large Companies. or Commercial and
l'rofessional Firms ; and from calculations made, based upon
moderate rentals, a return of from 15 to 20 per cent. on the
outlay may be fairy relied on. The Company will also from
time to time acquire other properties. as the opportunities
present themselves, fir the purpose of re-sale or otherwise.
By the issue of Debentuves or otherwise, the paid-up Share
Capital will be kept at the lowest possible point.
It is believed that as an essentially Home Investment, one
so secure, and at the same time so remunerative, is rarely
brought to the notice of the public, being wholly free from
the speculative character incidental to many joint-stock en-
terprises ; the model on which the business operations will
be conducted will be that of Gresham House Chambers, in
Old Broad-street. City Bank Chambers, Threadneedle-street.
and County Chambers, Lombard-street, the success of which
is well known, the only difference being, that whilst those
properties are in the hands of a few capitalists, the proper-
ties acquired by this Company will be distributed over a large
body of Shareholders, which will thus put investors of mode-
rate means in the same position to reap the advantages of
' which the magnitude of the
made it impossible to any but
In the a lot nent of Shares, a proportion will be reserved
large returns
Nnrvetestaulrrtehnqysu
lomrneedCn
hittoays phriotpheerrtty.
undertake.
for applicant,' who are Shareholders in the Mercantile Credit
Association (Limited), and the Credit Fonder (Limited) ; the
amongS the general public.
Shares being made, the de-
positof Should a les. number of Shares
the deposit will be made
rb ee Iman al lti
ownhtdeit
leelerdvbwete
nhi
returned
not bu
rf
are
nrndeoei distributed inpobtlfuimuet
full
Lnd
itbr
availabie towards the payment due on p
allotment, and the
balance, if any, returned to the applicant.
Prospectuses and Forms of Application for Shares in the
form annexed may be obtained at the Temporary Offices of
the Company, at the Off es of the Mercantile Credit Asso-
ciation (Limited), 21, Threadneedle-street; and the Credit
Foncier (Limited), 80, Lombard-street ; also of the Bankers,
Brokers, Solicitors, and Secretary.

THE CITY OFFICES COMPANY (Limited).
FORM OF APPLICATION FOR SHARES.
To be retained by the Bankers.
—Havingpaid ,o your Bankers, Messr . G
No.
men
To the Directors of the City Office, Company (Limited).
Master-
man, l'eters, and Co., the sum of £ being a Deposit
of .Et per Share on Shares in the, above companY,
I hereby request that you will a lot me tha number, and
I agree to accept such Shares, or any less number you may
allot to me; and I agree to pay the deposit on allotment, and
to sign the Articles of Association of the Company when re-
quired, an I authori'e you to insert my name on the Regis-
ter of Members for the number of Shares allotted to me.
Usual Signature
Name fn fu11........... •
Itesidetce ••• •• •
•••••••
Profession .....
Date.. March, 1861