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Report to the City Council: January 8th 1924

 

PURCHASE OF PREMISES AT HAY MILLS.

 

The desirability of securing premises in this district which would be suitable for the purpose of the Bank has for some time past been engaging the attention of your Committee, who are now in a position to acquire two shops and dwelling houses, Nos 1,176 and 1,178, Coventry Road. each of the premises contains a shop, sitting room, three bedrooms and usual out-offices, and electric light is installed in No 1,176. The property, which has a frontage to Coventry Road of approximately 28 feet, is leasehold, with 76 years unexpired, and is subject to an annual ground rent of £9. Plan "C" annexed to this report indicates by pink colouring the position of the property in question.

 

Vacant possession can be obtained of the whole of No 1,176, and of the shop and sitting room of No 1,178. It is proposed that the present tenant of No 1,178 shall be given possession of the available accommodation of both houses after the Bank requirements have been met, paying in respect thereof a rental of 12s. 6d. per week, inclusive of rates.

 

For the past four years a Branch has been conducted in the shop portion of No 1,087, Coventry Road, but neither the position nor the premises themselves are suited for a permanent Branch. At present the Hay Mills Branch is open on Saturday and Monday evenings for 2 hours, and for 4½ hours on Tuesday, but your Committee feel that the Branch has now sufficient regular business to justify more facilities being granted to the public. They, therefore, propose to raise the Branch, in its new position, to the status of a Daily Branch, and they believe, as in other cases, the Branch will develop on satisfactory lines.

 

Your Committee, after having consulted a Valuer, and considered his opinion, have confidence in recommending that this property should be acquired at the price of £1,350, which figure includes payment in respect of stock, fixtures, and goodwill of No 1,176, Coventry Road; and in accordance with Bank Rule No 10, they ask that the consent of the Council be given to the purchase, the cost of which will be defrayed out of the funds of the Bank.

 

Bank Committee: January 21st 1924

 

1617 The following Minute of the City Council, passed at their meeting on the 8th January last, on presentation of the Committee’s report was received:

 

It was moved by Mr Councillor Appleby, seconded by Mr Councillor Gelling, and

Resolved: 26,652. That the proposed purchase of the leasehold interest of Nos 1176 and 1178, Coventry Road, Hay Mills, for Bank purposes, plus certain fixtures, etc, at the price of £1,335, be approved, and the cost defrayed out of the funds of the Bank.

 

On Minute No 1582 the following reports of the Town Clerk were presented with reference to the completion of the purchase of properties No 1176 and 1178 Coventry Road, Hay Mills:

 

January 19th 1924

 

Gelling to the Corporation.

1176, Coventry Road.

 

I have to report that the purchase of the above property has now been completed in accordance with your instructions.

The Underlease contains a covenant not to use the premises for the business of a boot and shoe dealer or repairer, and not to use the premises for a period of five years from 1923 for the business of a butcher, fish dealer, furniture dealer or salesman of confectionery, sweets or tobacco. An indemnity has been given in respect of this covenant. I have made the following payment:

            Purchase Money                £500. 0. 0.

            Stamp Duty                            £2. 10. 0.

 

January 18th 1924

 

Murden to the Corporation.

1178, Coventry Road.

 

I have to report that the purchase of the above leasehold premises has now been completed in accordance with your instructions.

I have made the following payment:

           Purchase Money                 £500. 0. 0.

               Less deposit                       £50. 0. 0.      £450. 0. 0.

            Balance on Apportionment Account                -. -. 6.

           Stamp Duty                                                    £2. 10. 0.

 

 

1623 RESOLVED:- That the foregoing reports be approved and Minute No 1582 discharged.

 

Bank Committee: June 16th 1924

 

The General Manager reported that the following tenders had been obtained for required alterations at the premises 1176 and 1178, Coventry Road, Hay Mills, and opened by the Chairman and the Chairmen of the General Purposes and Finance Sub-Committees:

 

           F J Briley, Hay Mills                                    £1,276

            W Sapcote & Sons, Camden Street          £1,318

            S Surman & Son, Gt Colmore Street         £1,325

            T Elvins & Sons, Soho Hill                        £1,330

            R Fenwick Ltd, William Edward Street      £1,335

            Percy W Cox, Grove Lane                         £1,348

 

1793   RESOLVED:- That the tender of Mr F J Briley at the sum of £1,276 be accepted for the carrying out of the alterations at 1176 and 1178, Coventry Road, Hay Mills, and that the Town Clerk be instructed to prepare and affix the Corporate Seal to the necessary contract.

 

Bank Committee: July 7th 1924

 

The General Manager presented the following report with reference to property No 1176 and 1178 Coventry Road, Hay Mills:

 

1176 & 1178 Coventry Road, Hay Mills.

 

After considerable negotiations, Mr Frank Wilde has agreed, subject to the approval of the Committee, to purchase the freehold of these premises which were recently acquired by the Bank. The basis of the purchase is 30 years plus the legal expenses of the Vendor. The freeholder is Mr Newey who, through his solicitors Messrs Jeffery, Wild & Lovatt, held out for 33 years purchase, and only after much pressure was the above agreement reached. There is no possibility of securing better terms, the Vendor being an unwilling seller.

 

The ground rent of the two premises comes to £9 per annum, and the lease has 76 years to run.

 

Mr Wilde is of opinion that the Committee would be wise to secure the freehold and recommends acceptance of the terms arranged.

 

1812   RESOLVED: That the purchase of the freehold interest in Nos 1176 and 1178 Coventry Road, Hay Mills, at the sum of £270, plus the vendor’s legal expenses, be approved, subject to the consent of the City Council, and that the Town Clerk be instructed to prepare and, if necessary, affix the Corporate Seal to any necessary document in the matter.

 

Bank Committee: October 20th 1924

1852 The following Minute of the City Council passed on presentation of the Committee's report on the 29th July last was received:

 

It was moved by Mr Councillor Appleby, seconded by Mr Councillor Yates, and Resolved:

26,913. That the proposed purchase by the Bank Committee of the freehold of 1176 and 1178, Coventry Road, Hay Mills, for the sum of £270 plus costs, be approved, and the expenditure defrayed from the funds of the Bank.

 

On Minute No 1793, the Town Clerk presented the following report as to the completion and sealing of the contract with Mr F J Briley for alterations at Nos 1176 and 1178, Coventry Road, Hay Mills.

 

August 11th 1924

 

Alterations to Premises Nos 1176 - 1178, Coventry Road, Hay Mills.

 

I have prepared, completed and affixed the Corporate Seal to a Contract with Mr F J Briley for the carrying out of the structural alterations required at the above premises.

 

1860   RESOLVED:- That Minute No 1793 be discharged.

 

Bank Committee: November 11th 1924

 

On Minute No 1612 (Freehold - Nos 1176 and 1178 Coventry Road) the following report of the Town Clerk was presented:

 

November 12th 1924

 

The Council having approved of the purchase from Mr Newey of the freehold reversion in Nos 1176 and 1178 Coventry Road, Hay Mills, for the sum of £270 plus the Vendor's legal expenses, I have been pressing the Vendor's Solicitors for the draft Contract for sale. They now inform me that Mr Newey is desirous of providing for the future widening of the party passage between 1176 and 1178 Coventry Road, and that he is not prepared to proceed with the sale to the Corporation of the freehold reversion unless a suitable arrangement for the widening of the passage can be arrived at.

 

The freehold interest in this passage is vested in Mr Newey, the Corporation having a right of way thereover. The first floor of the Corporation's premises No 1176 overhangs this passage for the whole of its width. Mr Newey's proposal is that the Corporation should agree to remove at some future time the portion of the first floor of No 1176 which overhangs the passage in order that the latter may be widened for the purpose of providing better access to his adjoining premises.

 

I have conferred with the Committee's Valuer, Mr Frank Wilde, hereon and he is of opinion that, inasmuch as the Corporation's lease has 75 years to run and that until the expiration of the lease the Corporation are entitled to support the overlapping portion of the first floor of No 1176, Mr Newey's condition is unreasonable.

 

If, however, Mr Newey is prepared to indemnify the Corporation against any expenses arising out of the widening of the passage and to afford adequate support to the over-lapping portion of the building, it would appear that there would be no objection from the Corporation's point of view to the widening.

 

I shall be glad to have the Committee's instructions hereon.

 

1903   RESOLVED:- That the matter mentioned in the above report be referred to the General Purposes Sub-Committee, with power to take such action thereon as they may consider desirable.

 

General Purposes Sub-Committee: December 8th 1924

 

The following communication from the General Committee was received, referring to a report of the Town Clerk with reference to the desire of the freeholder of Nos 1176 and 1178, Coventry Road, Hay Mills, that provision should be made for the future widening of the party passage between 1176 and 1174, Coventry Road:

 

On Minute No 1812 (Freehold - Nos 1176 and 1178, Coventry Road) a report of the Town Clerk was presented:

1903. RESOLVED:- That the matter mentioned in the above report be referred to the General Purposes Sub-Committee with power to take such action thereon as they may consider desirable.

 

616     RESOLVED:- That this Sub-Committee agree with the suggestion of the Town Clerk that if Mr Newey is prepared to indemnify the Corporation against any expense arising out of the widening of the passage, and to afford adequate support to the overlapping portion of a building, no objection would be made by the Corporation to the widening; also that the Town Clerk be authorised to send a suitable communication to the Vendor's Solicitors accordingly.

 

Bank Committee: December 15th 1924

 

1931 The following report of the General Purposes Sub-Committee was presented:

 

1176 and 1178 Coventry Road, Hay Mills.

 

Your Sub-Committee have considered the Report of the Town Clerk with reference to the desire of Mr Newey, the owner of the freehold, that provision should be made for the future widening of the party passage between Nos 1176 and 1174 Coventry Road, and his statement that he is not prepared to proceed with the sale to the Corporation of the freehold reversion of Nos 1176 and 1178 unless a suitable arrangement for the widening of the passage can be arrived at.

 

Your Sub-Committee, after consideration of the matter, have agreed with the suggestion of the Town Clerk that if Mr Newey is prepared to indemnify the Corporation against any expense arising out of the widening of the passage, and to afford adequate support to the overlapping portion of the building, no objection should be made by the Corporation to the widening. They have authorised the Town Clerk to send a suitable communication to the Vendor's Solicitors accordingly.

 

General Purposes Sub-Committee: February 9th 1925

 

The General Manager stated that it was probable that the Lozells Branch would be ready for opening in three weeks' time and the Hay Mills Branch in four weeks. The Head Office would probably be ready at the end of April.

 

676     RESOLVED:- That the Lord Mayor be invited to open the Lozells Branch and the Lady Mayoress the Hay Mills Branch, and the General Manager instructed to arrange suitable dates and make the necessary preparations.

 

General Purposes Sub-Committee: April 6th 1925

 

With reference to the purchase of the freehold of Nos 1176 and 1178 Coventry Road, Hay Mills, the following report of the Town Clerk was received:

 

April 3rd 1925

 

1176 and 1178 Coventry Road, Hay Mills.

 

Your Committee will recollect that they agreed to purchase from Mr Newey the freehold interest in 1176 and 1178 Coventry Road, Hay Mills, for the sum of £270 plus the Vendor's legal expenses, but thatr Mr Newey subsequently stated that he was not prepared to proceed with the sale unless a suitable arrangement was made for the widening of the passage between 1176 and 1174 Coventry Road.

 

The freehold interest in this passage is vested in Mr Newey, the Corporation having a right of way thereover incidental to their leasehold interest in the premises. The first floor of the Corporation's premises overhangs this passage for the whole of its width.

 

Mr Newey's proposal was that the Corporation should agree to remove at some future time the portion of the first floor of No 1176 which overhangs the passage, in order that the latter might be widened for the purpose of providing better access to his adjoining premises. Your Committee would not agree to Mr Newey's condition, but stated that they would raise no objection to the widening of the passage if Mr Newey would indemnify the Corporation against any expense arising out of the proposed widening and would afford adequate support to the overlapping portion of the building.

 

I have been in further communication with Mr Newey's Solicitors, and he is now prepared to carry out the sale of the freehold interest in the premises excluding the portion of the first floor of 1176 which overhangs the passage. The effect of this would be that for the remainder of the Corporation's lease, which has 75 years to run, the right of overhang would continue; but at the expiration of that period the Vendor would be entitled to remove the portion of the upper storey of 1176 which overhangs the passage, the Corporation having to make good the exposed gable end.

 

The Committee's Valuer, Mr Frank Wilde, states that he cannot see any objection to this proposal having regard to the length of time which will elapse before the expiration of the lease.

 

I shall be glad to have the Committee's instructions hereon.

 

725    RESOLVED:- That the General Committee be recommended to agree to the proposal to carry out the purchase of the freehold interest in the premises, excluding the portion of the first floor of No 1176 which overhangs the passage.

 

Bank Committee: April 20th 1925

 

2039A The following report of the General Purposes Sub-Committee was presented:

 

Purchase of Freehold Interest - Nos 1176 and 1178, Coventry Road, Hay Mills.

 

The Committee will recollect that they agreed to purchase from Mr Newey the freehold interest in Nos 1176 and 1178, Coventry Road, Hay Mills for the sum of £270 plus the Vendor's legal expenses, but that Mr Newey subsequently stated that he was not prepared to proceed with the sale unless a suitable arrangement was made for the widening of the passage between Nos 1176 and 1174, Coventry Road.

 

The Town Clerk hs been in further communication with the Vendor's solicitors, and Mr Newey is now prepared to carry out the sale of the freehold interest in the premises excluding the portion of the first floor of No 1176 which overhangs the passage. The effect of this would be that for the remainder of the Corporation's lease, which has 75 years to run, the right of overhang would continue; but at the expiration of that period the Vendor would be entitled to remove the portion of the upper storey of 1176 which overhangs the passage, the Corporation having to make good the exposed gable end.

 

In view of the length of time which will elapse before the expiration of the lease your Sub-Committee do not see any objection to the proposal, and they recommend that the Town Clerk be instructed to proceed with the completion of the purchase accordingly.

 

2042   RESOLVED:- That the Town Clerk be instructed to proceed with the purchase of the freehold interest in Nos 1176 and 1178, Coventry Road, Hay Mills, in accordance with the recommendation contained in the foregoing report of the General Purposes Sub-Committee.

 
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