Landmark purchase
PA Wellington The Auckland-based Landmark Corporation has bought the La Salle building in Sydney’s central business district for sAustl3 million. Landmark’s managing director, Mr Oily Newland, said the building was the company's first major purchase in Australia, although it had substantial development and other business investments there through its
associated company Kimberley Securities, Ltd. Kimberley is owned 47.5 per cent jointly with Investment Finance Corporation, Ltd. Meanwhile, the Commerce Commission has given Mr Oliver Newland, and any private company of which he is the beneficial owner, permission to acquire up to 100 per cent of Landmark. The La Salle building has 14 levels with a total
net lettable area of 4164 square metres. Mr Newland said nearly two-thirds of the building was occupied by the Family Law Courts, and this tenancy had tended to depress rentals for the whole building. However, the courts would be moving within a year. The building is on a corner site at 70 CastleStreet, in the heart of p the prime business area.
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Press, 14 July 1987, Page 27
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170Landmark purchase Press, 14 July 1987, Page 27
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