SYDNEY PURCHASE
DAILY TELEGRAPH PROPERTY. AUCKLAND BUYER. (Per United Press Association.) Auckland, October 29. It was learned to-day that the purchaser of the Daily Telegraph building in Sydney recently was Mr J. W. S. McArthur, of Auckland. The price was stated in a Sydney cablegram to be £lOO,OOO but, owing to the benefit of the exchange rate, the cost to the purchaser will be £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-day that when in Australia recently looking for investment avenues he acquired certain information and on his return he kept in. touch with the agents in Sydney by wireless telephone.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/ST19321031.2.80
Bibliographic details
Southland Times, Issue 21851, 31 October 1932, Page 8
Word Count
121SYDNEY PURCHASE Southland Times, Issue 21851, 31 October 1932, Page 8
Using This Item
Stuff Ltd is the copyright owner for the Southland Times. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in