SYDNEY PROPERTY

Grey River Argus, 29 July 1925, Page 7

SYDNEY PROPERTY

ERA OF THE SKY-SCRAPER. SDNEY, July 16. When in the early days men bought land in Sydney for practically a song, they little dreamt that they were laying, for those to follow and to acquire the property, riches which would not have been seorued even by the old bii-idits who descended upon Carthage and Spain and Alexieo, For every foot of land in the city of Sydney today i s a little gold mine. Property which changed hands in the city a few days ago showed a value of over £lOOO a foot. Eve.i that, however, is small compared with. some of the prices that have been paid within the last few years. A couple of years ago, for instance, property in George street brought £2270 a foot. Clearly, there is a lot of money about for even with the extraordinary growth of city values, bidding is always keen for city property, or, to be more correct for the sites for the buildings on not a few of them ai'e being demolished to make way for more massive and more profitable structure. Take the latestbig sale. A property was bought for £60,000, but the new owner is only awaiting the expiration of leases to demolish it, and to put up on the same site an eight or nine storey building. Everywhere in the city to-doy it is the same,