BIG LAND DEAL

Waikato Times, Volume 122, Issue 20502, 19 May 1938, Page 9

BIG LAND DEAL

100,000 ACRES SOLD MARQUESS OF BUTE'S ESTATE SUM OF £5,000,000 PAID (United Press Assn.—Elec. Tel. Copyright) LONDON, May i 8 What is probably the largest British property deal is reported. The Marquess of Bute has sold practically the whole of the Mountjoy Estate of 100,000 acres in South WaleS, including half the city of Cardiff. The price is said to be £5,000,000. The purchaser has not been disclosed, but It is believed that a company is being formed to develop the property. MANY SHOPS AND HOUSES COMPANY OF BUTE FAMILY HUGE ESTATE OF MARQUESS (Official Wireless) (Received May 19. 1 p.m.) RUGBY, May 18 The Mountjoy Estate, which has been sold by the Marquess of Bute, Is understood to be nearly all ground rents, shopping streets, commercial areas and factory sites. Some 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, and in addition to Cardiff and Caerphilly Castle owns Kime’s Castle and the Guadacorte Castle Proque in Spain.