Macpherson Industrial Complex was sold for an incredible $103.9 million, which is far more than its original asking price. This amazing transaction happened during its first effort at a collective sale, and it exceeded expectations by getting a land rate of $831 per square foot per plot ratio (psf ppr). This rate is a significant 17% more than the original recommended price of $710 psf ppr.
The property is a large eight-story building with a 98-meter-long façade along Lorong Bakar Batu. It lies on a piece of land that is around 49,410 square feet in size and is categorized as a “Business 1” site according to the 2019 Urban Redevelopment Authority (URA) Master Plan. The Macpherson Industrial Complex has a plot ratio of 2.5, which means it has a lot of room for growth.
There’s a lot of interest in this site with a total of 12 bids being received. This robust reaction shows not just how strategically appealing the Macpherson Industrial Complex is, but also how investors continue to trust Singapore’s industrial real estate market, especially when it comes to freehold properties in prominent locations on the outskirts of the city.
One of the best things about this location is that it is easy to go to other areas of Singapore from here. The Central Expressway (CTE), Pan-Island Expressway (PIE), and Kallang-Paya Lebar Expressway (KPE) are all significant roads that connect it to other sections of the city. The complex is also close to public transportation; the Potong Pasir MRT Station on the North-East Line is just a short walk away. The neighborhood surrounding the Macpherson Industrial Complex also has a lot of fun things to do and places to eat. There are several places to eat along MacPherson Road and Tai Thong Crescent. For shopping, The Venue Shoppes, Poiz Centre, and Grantral Mall are all close by.
The Macpherson Industrial Complex is a great place for anyone who want to invest in industrial real estate because of its strategic position, strong infrastructure, and clear potential for growth. The latest transaction shows how the market is right now: industrial properties in good locations are still in high demand and selling for record prices, which shows that this sector is doing well in Singapore’s real estate market.
