BIG WELSH ESTATE SOLD
AREA OF 100,000 ACRES INCLUDES CARDIFF LONDON, May 18. Probably the largest British property deal is the sale by the Marquess of Bute of nearly the whole of the Mountjoy estate, of 100,000 acres, in South Wales, including half of 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. The Mountjoy estate is understood to be nearly all ground rents, shopping streets, commercial areas and factory sites. About 20,000 houses, 1000 shops; 250 public houses and several theatres and cinemas are involved. The vendors of this estate are a company comprising members of the Bute family, of which Lord Bute’s two sons, the Earl of Dumfries and Lord Robert Crichton-Stuart, are financial directors. Lord Bute is one of the largest property owners in Britain, owning about 117,000 acres. In addition to Cardiff and Caerphilly castles he owns Kimes Castle and Guajacorte, Castle Roque, in Spain.
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Bibliographic details
Southland Times, Issue 23513, 20 May 1938, Page 5
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175BIG WELSH ESTATE SOLD Southland Times, Issue 23513, 20 May 1938, Page 5
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