The sun., 1913-12-28

! even where there IL now u small return
| from their property 1t is liable to be
turned INTO a deficit and therefore they
/ think it wise 10 sell and invest in other
ianu or different forms Of securities
The purchasers Of these estates may
De men willing TO own an estate ns a
INJURY or administer it purely as a COM
meroial concern. That remains 10 be-
seen. In the latter case the holders OF
such estates may find themselves hard
put to II. II must be remembered that
the Government offered to buy the
Thorney estate II the Duke raised his
/ rents all round.
Made Many improvements.
The Duke OF Bedford on this estate
worked out such problems as an ideal
ihbor"rs cottage. its standard size and
! garden. even to the construction of pix
! sites. not to mention valuable work he
accomplished In experimental! fruit farms
a'ld model colony Of small landholders
In this the Duke OF Bedford is only one
OF many hig landowners and an example
of many smaller owners
Londoners could scarcely believe their
own eyes when they saw in the afternoon
papers this week that one man had bought
as a purely private investment, the Duke of
Bcdford's Covent Garden estates, conpris-
ing twenty-siy streets and $50 buildings I'm
the heart OF London,
Neither Mr.. Mallaby- -Deeley. who made
this historic purchase. nor the Duke of Bed
iord VIII satisfy public curiosity as to the
price given for this big patch of London =,
Estimates of the value of the property vary
between s25.c 900 and slOO, ,OOO, 900 II /,
pointed out in one estimate that within a
quarter OF a mile of the boundary line in the
Strand is the site of the proposed new Do
minions Building The price paid for ne ba re
site, an area OF just over three acres with
out building of any description on IT, WAS
"a. co. 600. The area of the Covent Gavdrn
| estate is nineteen acres and az the same rate
the purchase price would be about s,5. .OOO.-
600 But the cases OF course are different
Big IacOme Involved.
Definite figures can be given in regard 10
some OF the structures on the property.
Thus the ratable value OF the four theatres
is known to be ~ follows: Covent Garden
Opera House. 81. 900: Drury Lane Theatre
S2s. 1855: the Strand Theatre, S2s, 1926. and the
Aldwych Theatre. tos.ic5. The Covent
Garden market tolls bring 1925. 900 a year.
and there is the further right of levying tolls
on the vegetables. flowers and fruits ex-
posed for sale in the market, as well us on the
hundreds Of carts bringing in the produce.
From this source the income is about s5O. 900
a year.
perhaps be easier to realize the colossal
nature of the deal by glance at what is !
comprised In these nineteen acres, the pur
chase OF which has been accOmplis he'd 40
quietly. No less than twenty six streets. as
has already been said, are contained in the
property. They are:
Adwych. Garrick street
Bedford court, Henrletts street
Bedford street. James street
bow street, King street.
Broad court Long acre.
Bureigh street. Maiden lane.
Catherinr street. Murtlett court
ChandOs street. New street
Cross court, Russell street.
Crown court S-uthamptOn street
Drury lane Tarlstock street
Exeter street. wellington street.
Floral street. York street.
Mig Hotels Included.
Also included IN the district are the four
theatres already mentioned. Drury Lane,
the Royal Opera House. and the Strand
and Aldwych theatres. the Waldorf the
Tavistock and the Bedford hotels. the !
famous Bow street police court. several |