Tuesday, 8 March 2016

Notes on Wm. McCorkell & Co. Ltd. - Part 2

Initially Wm McCorkell & Co Ltd held their Strand Road/Queen's Quay property as assignees of a lease which was to expire in February 1916. By the beginning of the twentieth century it was clear that larger cargoes of grain were needed in order to maintain the profitability of the Company. The Directors were prepared to invest in the machinery and facilities necessary for discharging large steamer cargoes of grain but the shortness of the residual term of their lease made it an uneconomical proposition unless they could acquire the freehold or negotiate a new and suitably lengthy lease. Accordingly on 25th November 1902 the Company wrote to the agent of the freeholder, The Honourable the Irish Society, requesting the grant of a lease in perpetuity, ( Fee Farm Grant). The response of 24th January 1903 was in the negative. The Court of the Society was not prepared to comply with the request. However there must have been further approaches and ultimately on 1st July 1916 the desired Fee Farm Grant was provided. This deed reserved an annual ground rent of £170


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