IDENTITY DISCLOSED.
BUYER OF SYDNEY BUILDING. AUCKLAND, Oct. 29. It was learned to-day that the purchaser of the “Daily Telegraph” building in Sydney recently was Mr J. W. S. McArthur, of Auckland. The price was stated in the Sydney cablegram to be £IOO,OOO, but, owing to the benefit of the exchange rate, the cost to the purchaser will he £87,000 in New Zealand currency. The building was sold in 1927 for £305,000, and the present Government valuation of the land alone is £78,000. Mr McArthur said to-day that when in Australia recently looking for investment avenues he acquired certain information, and on his return he kept in touch with his agents in Sydney by wireless telephone.
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Bibliographic details
Ashburton Guardian, Volume 53, Issue 17, 31 October 1932, Page 6
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116IDENTITY DISCLOSED. Ashburton Guardian, Volume 53, Issue 17, 31 October 1932, Page 6
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