The Macpherson Industrial Complex has been sold for $103.9 million, marking a significant milestone in Singapore’s industrial real estate market. This transaction represents a remarkable 17% increase from its initial asking price of $88.8 million, demonstrating robust demand for industrial properties in the region. The sale reflects a land rate of $831 per square foot per plot ratio (psf ppr) for the freehold property, indicating a healthy valuation that aligns with current market trends.
Spanning approximately 49,410 square feet and comprising eight stories, the Macpherson Industrial Complex has attracted significant attention from potential buyers, evidenced by the receipt of over 12 tender submissions. This level of interest underscores the complex’s appeal and the ongoing investor confidence in Singapore’s industrial sector.
The strategic location of the complex further enhances its attractiveness, as it offers excellent connectivity through major expressways and is conveniently located within walking distance of Potong Pasir MRT Station. Such accessibility is vital for industrial operations and logistics, making the property an ideal choice for companies seeking to establish a presence in the area.
The sale marks the first collective sale attempt for the Macpherson Industrial Complex, illustrating the evolving landscape of Singapore’s industrial real estate market. Investors are increasingly recognizing the potential of industrial properties, particularly those situated in prime locations with good transport links.
The successful transaction not only reflects the positive sentiment among developers and investors but also highlights the potential for future growth in the sector. In recent years, Singapore’s industrial property market has demonstrated resilience amid fluctuating economic conditions.
This sale is indicative of a broader trend where industrial properties, particularly those with strong fundamentals, continue to attract competitive bids. As companies adapt to changing market dynamics and seek to optimize their operational efficiencies, the demand for well-located industrial spaces is expected to persist.
The Macpherson Industrial Complex’s sale also aligns with Singapore’s vision of transforming its industrial landscape to meet the needs of a modern economy. The government has been actively promoting the development of industrial properties that support innovation and technology, further driving interest in such assets.
The successful completion of this sale reinforces the notion that industrial real estate remains a vital component of the country’s overall economic framework.
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News Source: Edgeprop
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