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- 1794, June 5. (Creation)
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A reply to No. 5718. he saw Mr. Lewis, who showed him the estimate and valuation of the Abermarles estate. He has but little time to consider it, but the remarks he has made are that the valuation is much too high for a purchaser. The estimate is at the extreme value of the land and the demesne calculated at 28 years' purchase, when at this time, and without a possibility of improvement, land will not bear more than 22 or 23, as the stocks are so very low. The estates that are on leases for lives are valued to their extent, and at 25 years' purchase, though the reserved rent is short of the computed value. The dilapidated state of the houses and fenceshave not been thought of. Upon the whole, he thinks he has offered the recipient a great piece, considering the great disadvantages he will have in setting out of the stocks at this time, if the recipient acceots of him as a purchaser at £11000. [Draft. Endorsement (erased): 'The Revd. Lewis Lewis, Gwinfe.].
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Preferred citation: 3719.