In many cases' rentals have been lowered, during the past year, as owing to the financial depression, there would otherwise have been houses standing amply. The number of apartment houses that have gone up in the French Concession, with competitive rates have further tend. ed to lower rents, Another contributing factor is the increasing move westwards, where hhousts, being built on cheaper land, keep capital Investment much lower, Capital Investments An aggregate capital of no tess than $27,000;350 was involved in Dbulldings " for the construction of which permits were applied for in 1994, this being made up, according to districts, as follows:
Northern 135 398 Basten 0000S alenaase Structures and Installations which work was carried out in 1983 and 1634 are shown below for comparison:
Central Northern Eastern Western 2168 1094 3680S age Building permits applied for in 1993 and 1984 are shown below:
The Nanking Road The appearance of Nanking Road the|remains unchanged during the past] year, and it is much to be hoped that! the contemplated street widening will shortly be an accomplished tact.
On Chekiang Road, the steer trame work of the Wing On Co's annexe is already up to the eighth storey while the foundation work on the huge site of the Sun Store at the corner of Thibet and Nanking Roads, is now being carried out.
Further North, on Peking Road, at} the Thibet Road' corner, @ very large group of shops and hongs has recently been completed. 'The road wide Ing here, which the Council have steadily' continued, has now reached point which makes it possible as a, bus route, Rentals have remained igh in this area and in consequence several wall Known stores have had 19 move more economical quarters and their former premises are standing idle.
1s to Close Down My Chinese friends tell me that no fewer than 27 Nanking Road shops have been so terribly hard hit by the financial situation that they will not bbe able to re-open after the Lunar New Year holiday.
Very few sales have been reported this district, probably the most important being that of Messrs. Noel Murray's property in Hankow Road, seems a pity that the old hong which for so many years housed Messrs, Win. Little & Ca. and later! Noel Murray should finally disappear as It 1s about the last of them, but space in this area is so valuable that Ht can only be made to pay by ta ulldings with greater floor space.
On the French Concession side of the Central area, the new Chung Wel Bank on Aventie Edward VIT and Rue} de la Porte clu Nord corner has been completed, and looks most imposing, lis high tower being visible for miles.
Adjacent to this, the new building
under way. for the French Police Station is wel
Text read from the printed page and cleaned; old type leaves the occasional error.