BIG BUILDING
Bought in Sydney IT WAS A BARGAIN AS AX INVESTMENT NEW ZEALAND PURCHASER Per Presa Association. Auckland. Oct. ITS. It is learned that the purchaser of the Daily Telegraph building in Sydney recently is Mr. J. \V. S. McArthu/, oil Auckland. The price- was slated in the cablegram from Sydney to be £IOO,OOO, hut Owing to the heneiit 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-lay that when in Australia recently looking for investment avenues lie acquired certain information and on his return lie kept in touch with agents in Sydney by wireless telephone.
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Bibliographic details
Feilding Star, Volume 9, Issue 3871, 31 October 1932, Page 7
Word Count
127BIG BUILDING Feilding Star, Volume 9, Issue 3871, 31 October 1932, Page 7
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