In an off-market deal, Trent Gallagher of Colliers successfully sold 7 Box Road, Taren Point, for $14.75 million.
As part of the deal, the vendor Chemcorp will lease back the two-level office, showroom and warehouse for one year.
Located on a 4,036 sqm parcel of land the site yield achieved was 4.74% delivering a $700,000 net income.
According to Trent Gallagher, there is a Covid-driven industrial boom with the ever-increasing rise of online sales driving logistic requirements.
“The demand for high-quality industrial offerings is at an all-time high, the shift towards online sales is the way of the future and this has pushed warehouse demand by leaps and bounds. This is further fuelled by record-low interest rates.”
The new owners have purchased the site as a long-term investment. Snapshot of the site features below:
- Modern two-level first-class office/showroom industrial building
- Total building area: 3,582m2
- Land area: 4,036 m2
- 30 on-grade car spaces
- 12 metres internal warehouse clearance
- Constructed by award-winning builder for leading companies including Woolworths, Coles etc.
- 2km from Caringbah Train Station
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