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Wednesday, 4 August 1926

Senator ELLIOTT (through Senator Foll) asked the Minister for Home and territories, upon notice -

1.   What is the estimated cost of erecting a building at Canberra on subdivision No. 1 in the civic centre, of the type required by the commission in that area on an allotment of 20 feet frontage?

2.   Is the commission prepared to erect such a building for a purchaser at the estimated cost?

3.   What is the estimated average income to be expected from a building of the type referred to, erected on the site mentioned, over the next ten years?

4.   Upon what system of' valuation is the upset price of allotments in the Capital Territory, and particularly in the civic centre, arrived at?

Senator PEARCE -The Minister for Home and Territories has supplied the following answers to the honorable senator's questions: -

1.   The commission has not made an estimate of the cost of the buildings to be erected by private enterprise on the No. 1 subdivision at civic centre.

2.   No.

3.   It is not practicable, at this stage, to formulate a reliable estimate in this regard.

4.   The upset prices put on the allotments in the 1926 sales were arrived at by expert valuators, after consideration of the results of the 1924 sales and other factors which affect land values.

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