Legion Cabs sell Southern Sydney site for $18m
An iconic cab company has sold its southern Sydney home.
An iconic taxi company started by ex-servicemen and women after World War 2 has sold its southern Sydney home.
The home of Legion Cabs at 137A Princes Highway in Arncliffe has sold for $18m as the company plans to move to a more suitable location.
The 3692 sqm site, which includes a large retail showroom and two-level office, was marketed as “prime mixed use development site” with a height limit of 31m.
It was snapped up by an owner occupier after a campaign with strong interest which showed the demand for properties of this nature in the region.
Legion Cabs sells its southern Sydney site for $18m.
The site is zoned for mixed use development.
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The Colliers team of Trent Gallagher and Edward McFarland were behind the sale.
“Despite being highly suited to a residential development, the property’s sale to an owner occupier provides an insight into the lack of quality buildings within Southern Sydney,” Mr Gallagher said.
“The scarcity of industrial and commercial offerings in the heart of inner core South Sydney has compelled owner-occupiers to venture further to southern markets in search of alternative options that align with their specific business needs and operations,” Mr McFarland added.
The site is located on a corner position with three street frontages and has a mixed use zoning.
The property sold to an owner-occupier.
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It has been occupied by Legion Cabs for the purpose of a taxi showroom and headquarters for many years.
“The sale is a great outcome for Legion Cabs and its membership and will allow Legion Cabs to continue its operation in a more suitable premises,” Legion Cabs chairman Sam Karnib
said.
“Legion Cabs is a significant player in the taxi industry and has a longstanding history, having been established by ex-servicemen and women following World War 2.
“The sale of the building will allow Legion Members to realise the value of the business they have worked so hard to build over many years.”
