Chemcorp offloads HQ with a leaseback
Chemcorp International has sold its Taren Point headquarters with a 12 month leaseback.
On 4036 square metres, 7 Box Road is trading at $14.75 million – reflecting a 4.74 per cent yield.
A triple storey office, showroom and warehouse contains 3582 sqm.
The industrial component has a 12 metre clearance.
There are also 30 car parks.
The property failed to sell after a 2019 campaign when the guide was $13m; it was again offered with a 12 month leaseback.
“The demand for high quality industrial offerings is at an all-time high,” Colliers’ Trent Gallagher, who secured the sale, said (story continues below).
“The shift towards online sales is the way of the future and this has pushed warehouse demand by leaps and bounds,” he added.
“This is further fuelled by record-low interest rates”.
The incoming owner is long-term investor.
Taren Point is about 20 kilometres south of Sydney, near Sylvania Waters.
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