The Sun.
London, England, 1864-03-17 00:00:00

Threadneedle-street,

Ofall securities or property that can come under the deno •
mination of " first-class, ' both tor stability as well as in-
creasing is value year by year, none can at all compare with
Freehold or long Leasenoid city of London Property, espe-
cially that portion situated within a radius 011,000 yards of
the Bank of England ; this fact is so well known that the
greatest competition is excited when any property of this de-
szription is off. red in the market, and lar,e as the rise i
vain?, of such property has been ciseng the last few years, it
is admitted by all eonversant with the subject that a still
greater incrase must coctinue to take place, from the )m-
-possibility of supplying the suitable as ommociation re-
quired by joint-stock companies and commercial and pi ofes-
sio i al firms.
The C ty Offices Company, Limited, Lava agreed for the
purchase of the undermentioned sites of land, with the build-
ings thereon ; k hick, 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 ire in five blo ks,
viz : —A, B, C, D, and B.
Block A con Fists of the Freehold Premises, 25, 25A, 26, 27,
in Clement's-lane, Lomba' d-sti eet, with No. 9, 10, and 11, in
Nag', He d- curt, a7,d 3,4, and 5, Church-court, the whole
forming a magnificent block of premises, with lights, and
entrances on three sides, and extending back t Gracechur
li-
street; it has 61 feet frontage and 150 depth, and r ontaius
0,000 square superficial feet, and is the largest block so
near Lombard-street than has been in tit) market for some
years.

;Block Ti cone is of the well-known LC2, ebold block of

ew Offices, situ .ted 2A, Leadonhal -street, near:y op-
posite the reninswar and Ori n• a Company's Offize, and
extending back io Lime-street-, quare ; it has been erected
atith n the ast three y, ars, from the designs of John WhLh-
cord, E .q., a..d contains 120 firs -class 0111. es, with Four
Shops, the who e :et to first-c:ms Merchants and others;
,t ha fire-proof could rs and stone st .iroases, anl pons, saes
the most modern i .provements, including Telegraph Sta-
tion, Buffet, me., in Ihe buildin,f. The lease Is for 9t ye .rs, at a
ground-rent of £7OO per annum; it has a frontage of 60 feet,
and 170 feet in depth, and contains 12,0,9 squire superficial
feet.

Bock C consists of the h ndsome edifices erected within
the 'ant seven years, inm dii4us by John B rnett, I,:eq.,
archit ct, for Messrs. John Sari and :dans, bi.vei lauding, and
s tuated 17 and 18, Cornhi 1, directly opposi e the Baal( cf
Eng and, and alike for e'eganre of building as weil as itua-
t'on erh spa the most desirab:e In the uty. With a very
trifling outlay thcs ,in accord thce wit., the plans and designs
originally ma e, wilt be converted in about three wce'. s in. o
Offices, and wo-thh di of the building hag a ready been let,
the ground floor and mez mine floor billy; rented by the
Credit Mobilier and Credit Fonder Companies. These Pre•
raises are Leasehold fur 6) years, at a ground-rent of £6OO
per annum.
Blocs D consists of the new and substantial block of
Offices, erected within the last three years, and are built in
the most , übstaniiti manner. It contains fifty-five offices, be-
sides vaults, the whole, excrpting four, being let, and offers
being made for these. It is Freeho,d, has a frontage of 52
feet and depth of 81feet, and contains 4,150 superficial square
feet, and is situ tiled at 6,, Great Touter-street, near Mara.-
lace.
Block E is the largest block in the City; it is situated in
Bishopsgate-street, opposite St. Helen's-place, with a
thormu Mare to be got through to Old Broad-street, and in
the centre of the block adjoins Gresham House; it contains
25,100 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 £l,OOO per annum.
The price at which the City Offices Company (Limited) has
agreed for the purchase of the whole of the before enume-
rated five blocks is £365,0(10, including all buildings thereon;
this price gives, sifter adding thereto the cost of purchasing
the freehold f the wholg of the leasehold portions, and de-
ducting the value of the new buildings thereon, an average
price of only £l5 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 (Freehold), containing an area of about
5,80) square foot, cost £1.15,25:, 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 £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 6so feet,
realised £lo,ui 0, and this subject to a ground-rent of 5..5
per annum, which; allowing ior 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 £2O, £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 Lwest of these three quotations, it would leave
the City ()faces 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
Professional Firms ; and from calculations made, based upon
moderate rentals, a return of from i 5 to 20 per cent. on the
outlay may be fairly relied on. The Company will also from
time to time acquire other properties, as the opportunities
present themselves, for the purpose of re-sale or otherwise.
By the issue of Debentures 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 watch
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 w.llbe distributed over a large
body or Shareholders, which will thus put investors of mode-
rate means in the same position to reap the advantages of
large returns on City property, which the magnitude of the
amounts required has hitherto made it impossible to any 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 less number of Shares
be allotted than are applied for, the deposit will be made
avaitabie 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 obtained at the Temporary Offices of
the Company, at the OfLes of the Mercantile Credit Asso-
ciation (Limited), 21, Threadneedle-street; and the Credit
Fonder (Limited), $O, Lombard-street; also of the Bankers,
Brokers, Solicitors, and Secreta-y.

THE CITY OFFICES COMPANY (Limited).
FORM OF APPLICATION FOR SHARES.

To be retained by the Bankers.

To the Directors of the City Office; Company (Limited).
Gentl men,— Elavingpaid i o your Bankers, dlessr Master-
man, Peters, and Co., the surn of £ , being a Deposit
of Li per Share on Shares in the above Company,
I hereby request that you will adot 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. and I authorise you to insert my name on the Regis-
ter of Members for tho number of Shares allotted to me.
Usual Signature
Name Julia. ... • •
Residence ....—. •••••••
Profession ••••••• •
Date,,klarob 1801
'kw •