SYDNEY DEAL
PURCHASE OF TELEGRAPH BUILDING BY AN AUCKLANDER Auckland, Saturday. It is 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 £100,000, but owing to the henefit of the exchange rate, the cost to the purelias-er 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 agents in Sydney by wireless telephone.
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Rotorua Morning Post, Volume 2, Issue 367, 31 October 1932, Page 5
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117SYDNEY DEAL Rotorua Morning Post, Volume 2, Issue 367, 31 October 1932, Page 5
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