BIG PROPERTY DEAL
(Press. Assn.-
NEW ZEALANDERS PURCHASE DAILY TELEGRAPH BUILDING ONE HUNDRED THOUSAND PAID
— By Telegraph — Copyright).
Rec. Oct. 21, 10.50 p.m. Sydney, Oct. 21. The tall Daily Telegraph building in the heart of the city? was sold today for £100,000 hy radiophone to
i\ew Zealand. The identity of the purchasers has not* heen disclosed. Such a thing has never oecurred before. The auction sale was in progress, bidding starting at £75,000, rising to £85,000 in £5000 bids and thereafter in £1000 bids. Then dramatically, dur ing the height of excitement, a New Zealand radiophone call came for two men in the audience. A hurried conference occurred and the auctioneer announced that the two men became the purchasers on behalf of a New Zealand syndicate at £100,000. Enthusiastic scenes followed, the buyers being greeted with "good luck" congratulations. The auctioneer had previously announced that a certain assurance society was prepared to advance £70;000 for ten years at 65 per cent. to the purchaser or purcha'sers.' The building is most suhstantial, it is 150 feet high with a tower, and was huilt in 1915 at a cost of £135,000.
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https://paperspast.natlib.govt.nz/newspapers/RMPOST19321022.2.31
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Rotorua Morning Post, Volume 2, Issue 360, 22 October 1932, Page 5
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189BIG PROPERTY DEAL Rotorua Morning Post, Volume 2, Issue 360, 22 October 1932, Page 5
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