These cars are very good at soaking up the mileages if well maintained.
I'd always maintain it's better to buy a high mileage car that's done long journeys than one that's just been used on short town trips it's entire life.
On a car that is 28 years old, always buy on condition rather than mileage. If the condition is good and it drives nicely enough, I'd have no hesitation in buying a 240,000 mile car.
There are lots of 740s around and prices still are fairly low, so it's worth shopping around and being choosy if you're after anything in particular