£700,000 REFUSED
PROPERTY OWNER NOT TEMPTED New real estate records are reported to have been created in Sydney a week or so ago. For some time the purchase of eight properties in Pitt Street, including the Ambassadors, had been the subject of negotiation, and the last offer for the block was £700,000. Large as this snm is, it failed to tempt the owner, whose expressed determination not to part with the Ambassadors is (says a Sydney paper) likely to render future negotiations exceedingly difficult. Round about the same period, what is described as one of the most remarkable citv property deals in Australia was completed. Premises in the heart of the city, having a street frontage of 12ft. 10|in. by a depth of 55ft., were disposed of for £29,500, or £2300 a foot. The size of the site taken into consideration, it is stated that the price per square foot (just over £-10) is probably a record for Australia.
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Bibliographic details
Dominion, Volume 20, Issue 54, 27 November 1926, Page 8
Word Count
159£700,000 REFUSED Dominion, Volume 20, Issue 54, 27 November 1926, Page 8
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