£100,000 PROPERTY DEAL

Dominion, Volume 13, Issue 81, 31 December 1919, Page 6

£100,000 PROPERTY DEAL

SYDNEY PURCHASE BY MESSRS. STEWART DAWSON. One of the biggest prices paid for pronertv in Swlnev was received last week for the Pitt Street portion of the Strand Arcade. The purchasers were Messrs. Stewart. Dawson and Co., who have carried on'business for thirty years at the Georce Street end of the arcade. The Pitt Street frontage to the arcade occunies about GO feet 9 inches, and the ui ice uaid thus works out at approximately ,£IG4G per foot, including the value of buildings.

Tlio buildings are of cemented brick, and have live and (in part) three stories, and basement. As. at present arranged t.hev contain, besides the large basement, two large shops fronting Pitt Street, and thirteen chops on the inside of the arcade. on the ground floor, fifteen showrooms on the second floor, four showrooms on the third floor, two showrooms on the fourth floor, and a photographic nailery on the fifth floor. The rent-roll is over .£II.OOO p?r annum , By the liurehase Mr. Stewart Dawson sains control of the block extending from the arcade to King Street, but excluding Trautwein's Hotel on the corner. The five intervening properties, as well as a block running in from King Street towards the nreade, at the rear of the hotel, were purchased by Mr. Stewart Dawson some time ago.