Cabcharge sells Sydney HQ for $18.1m

Cabcharge Australia has agreed to sell its headquarters in Sydney for $18.1 million but will lease back the property.

A taxi waits at a rank at Circular Quay in Sydney — Cabcharge Australia has agreed to sell its headquarters in Sydney for $18.1 million. (AAP)

1 min read

Published 21 June 2016 9:48pm

Source: AAP

Share this with family and friends

Cabcharge is selling its Sydney headquarters for $18.1 million as the taxi payment services provider, under pressure from the likes of Uber, offloads assets.

The company will lease back the Darlinghurst property from the unidentified buyer for a minimum of two years from settlement on July 31.

Cabcharge values the building at about $3.7 million in its accounts and expects to pay capital gains tax of $4.3 million on the sale.

Sign up now for daily news from Australia and around the world. You can also subscribe to Insight's weekly newsletter for in-depth features and first-person stories.