The Macpherson Industrial Complex has just been sold for an impressive $103.9 million, marking a significant 17% increase over its initial asking price of $88.8 million. This sale illustrates not only the ongoing demand for industrial properties in Singapore but also highlights the confidence investors have in the market.
With a land rate of $831 per square foot per plot ratio (psf ppr), the sale emphasizes the value placed on such properties, especially those with freehold status. Spanning approximately 49,410 square feet and boasting eight stories, the complex is zoned as “Business 1” under the 2019 URA Master Plan. This zoning classification is crucial, as it allows for various industrial uses that can drive business growth in the area.
The strategic location of the Macpherson Industrial Complex plays a pivotal role in its desirability. Being close to major expressways and MRT stations means easy accessibility for both employees and clients, a factor that many buyers prioritize when looking for industrial real estate.
As you consider the broader implications of this sale, it’s clear that the Macpherson Industrial Complex serves as a prime example of the resilience of Singapore’s industrial real estate market. The property drew considerable interest, receiving over 12 tender submissions. This level of engagement from potential buyers indicates that many see value in the property and are willing to invest.
The marketing agent, ETC, successfully showcased the complex’s strengths, drawing in a competitive pool of bidders. With the industrial sector showing robust performance, this sale may signal a trend where investors increasingly seek out properties that not only offer good returns but also promise future growth.
The Macpherson Industrial Complex’s features, from its size to its zoning and location, make it a desirable asset for businesses looking to expand or establish a presence in the area. Investors are likely taking note of this transaction, as it reflects a broader understanding of the potential for growth in the industrial sector.
The ability to achieve a sale price well above the asking price suggests that the market is maturing, attracting serious players ready to capitalize on the opportunities available. With strong fundamentals supporting the industrial real estate market, you might find that more transactions of this nature occur in the near future.
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News Source: Edgeprop
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