PROPERTY SALE
BUTE ESTATE DEAL [BY GABLE —PRESS ASSN. —COPYRIGHT.] LONDON, May 18. Probably the largest recorded property deal is the sale by the Marquess of Bute of nearly the whole of the Mountjoy estate of 100,600 acres, in South Wales, including half the city of Cardiff- The price is stated to be £5,000,000. The name of the purchaser is not disclosed; but it is believed to be a company which is being formed-- to develop the property. VALUABLE GROUND RENTS. [BRITISH OFFICIAL WIRELESS.] RUGBY, May 18. The Mountjoy Estate, which has been sold by the Marquess of Bute, is understood to be nearly all ground rents on shipping streets, commercial areas, and factory sites. Some 20,000 houses, 1000 shops, 250 public-houses, and several theatres and cinemas are involved.
The vendors of this estate are a company comprising the members of the Bute family, of which Lord Bute’s two sons, tho Earl of Dumfries' and Lord Robert Crichton Stuart, are financial directors for Lord Bute. He is one of the largest propertyowners in Britain, owning about 117,000 acres, and in addition to the Cardiff and Caerphilly Castles, he owns Kimes Castle, and Guapacorte Castle Roque, in Spain.
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Greymouth Evening Star, 19 May 1938, Page 9
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197PROPERTY SALE Greymouth Evening Star, 19 May 1938, Page 9
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