The Sun.
London, England, 1864-03-18 00:00:00

Tl;readneedle-street.

Of all securities or property that can come under the deno-
mination of "first-class," both 'or stability as well as .n.
creasing is value year by year, none can at all compare w'th
Freehold or long Leasehold city of London Pi operty, 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 pr.)perty of this de-
saription is offered in the market, end lar, e as the rise i
valu of such property has been der.ner the last few y. ars, it
is admitted by all eonve, sant with the subject that a still
greater 'ncrrase must co,tinue to take place, from toe ,m-
-possibility of supplyinz the suit ible at ornmodation re-
quired by joint-stock companies and commercial and pi ofes-
sleet al firms
The C ty Offices Company, Limited, have aereed for the
purchase of the undermentioned sites of land, with the build-
ings thereon ; ‘,‘ hich, for eligibility of situation and size of
each block, are such as can rarely be acquired—as the follow-
ieg enumerat n will amply ro ove ; they are in five blO ks,
Viz.: —A, B, C, D, and E.
Block A consists of the Freehold Premises, 25, 25A, 26, 27,
in Clement's-lane, Lomba d-st, eel, with No. ci, 10, and 11, ,n
Nag' He d- ourt, a d 3,4, and 5, Church-c.rurt, the whole
forming a magnificent block of premises, with lights, and
entrances on thres sines, and extending back t Gracechur.th-
street ; it has 68 feet frontage and 150 depth, and • ontains
9,900 square superficial feet, and is the largest block so
near Lombard-street that, has been in th.: market lot some
years.
t !Block B consi is of the we'l-known Lea ehold block of
New Offices, situated 29, Leadenhal -street, near .y op-
posite the Peninsular and Od n a Company's Office, and
extending back to Lime-street-'quire ; it has been erected
with n the ast three years, from the designs of John Which-
cord, E •q., fa,d contains 120 firs -class Offices, with Vow
Shoes, the who e let to first-catss Merchants and others;
it ha fire-proof corrid rs and stone at orcases, and possesses
the most modern iaiprovements, including Telegraph Sta-
tion, Buffet, tke., in Ihe buildin,. The ler; se is for 91 ye rs, at a
ground-rent of £7OO per annum ;it has a frontage of to feet,
and 170 feet in depth, and contains i 2,0 square superficia.
feet.
B oer C consists of the h .ndsome ed;fl7es erected within
the ast seven years, from d si,;ns by John B Esq.,
archit ct, for M,ssrs. Jol.n Sarl and Sons, id versieihs, and
situated 17 an r la, Cori.hi I, directly opposi e the Bank of
Eng and, and alike fore egan eof building as well as itua-
ton erh 'pi; the most desirab e In the. its. With a very
trifling outlay thes ,in accord ce wit:. the plans and designs
origins Ily m e, will be conv,rted in about thr. ewes in o
Offices, and wo-thild, of the building has a ready been let,
the grou'.d floor and mez ine no°, in; rented by the
Credit Mobider ant Credit Foncier Companies. These Pre•
mines are Leaseho:d fur Siyears, at a ground-rent of £6ao
per annum.
Floc D consists of the new and substantial block of
Offices, erected a' ithin the last the ee yea. s, and are built .n
the most übstan i manner. It cuntams fifty-five offices, be-
side, vaults, the whole, exc. pang four, being let, and offers
being made for these. it is piing
d, has a frontage of 62
feet ant depth of 8 i feet, and contains 4,110 supernctal square
feet, and is situ tied a' 6 , Great Tower-street, near Mark-
lar e.
Block E is the largest block in the City ; it is situated in
Bishopsgate-street, opposite St. Helen'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,, 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-
ranged Offices in the City. This plot is Leasehold for 99
years, at a ground rent of £4,000 per annum.
The price at which the City Offices Company (Limited) has
agreed for the purchase of the whole of th before enume-
rated five blocks is £165,000, 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.:—
Thu Auction Mart (Freehold), containing an area of about
5,80 square foot, cost £1i5,25 , which gives an average of £2O
per foot
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 £3),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
e London and Middlesex Bank, containing only 6,0 feet,
realised £lo,oa 0, and this subject to a ground-rent of £5
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 profits can be rea-
lised, as they undoubtedly can be, on land costing £.O, £3 ,
and £37 per foot respectively, the prospects and probable
profits of those acquired by tnis Company, costing only £9
per foot, will be evident at first sight ; if they were re-sold
at even the lewest 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
Vrofessional Firms ; and from calculations made, based upon
moderate rentals, a return of from sto 20 per cent. on the
outlay may be fair y relied on. The Company will also from
time to time acquire other properties, as the op ortunities
present themselves, f r the purpose of re-sale or otherwise.
By the issue of Debentu es or otherwise, the paid-up Share
Capital will be keot 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 welch
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 wal 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
lame returns on City property, which the magnitude of the
amounts required has hitherto made it impossible to aay but
very wealthy men to undertake.
In the a .lot nent of Shares, a proportion will be reserved
for applicant who are Shareholders in the Mercantile Credit
Association (Limited), and the Credit Fonder (Limited) ; the
remainder will be distributed among the general public.
In the event of no allotment of Shares being made, the de-
posit will be returned in full. Should a les • number of Shares
be allotted than arc applied for, the deposit wit,l be made
avid abx towards the payment due on allotment, and the
balance, if any, returned to the applicant.
Prospectuses and Forms of Application for Shares in the
form annexed may be obta'ned at the Temporary Offices of
the Company, at the 0111 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 retatned by the Bankers.

To the rirectors of the City Office; Company (Limited).
Gentl men,—Ravingpaid .o your Bankers, Messr . Master-
man, Peters, and Co., the sun of £ , being a Deposit
of £1 ter Slime on Shares in the above ompany,
I hereby request that you will a lot me tha number, and
I agree to accept such Shares, or any less number you may
all.t to me ; and I agree to pay the deposit on allotment, and
to s,p.,n the Articles of Association of the Company when re-
quired, an I authori e you to insert my name oa the Regis-
ter of Members for the number of Shares allotted to me.
1.1.0 1 Si n ture
Name i . full
Residetee
Profession
Date.. March, 1861 .

THE CITY OFFICES COMPANY (Limited)
NOTICE IS Hs REBY GIVEN, That the List of
Applications for Shares in this Company will be CLOSED
at Four o'clock on MONDAY next, the 21st instant, for Lon-
don, and TUESDAY, the 22d, for country applications.
By order of the Board.
G. W. BENWELL, Secretary.
London, 21, Threadneedle-street,
17th March, MI.

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when the hair is once restored one application per month
will keep it in perfect colour. Price one guinea per bottle, or
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, UM the 01 Wale%