.jpg?8GCC1wULLRs6UTi4MLgAgnrPIYlsXdvl&itok=LyjYUN6h "The selling price reflects a land rate of $831 psf per plot ratio (ppr), 17% higher than its initial guide price of $710 psf ppr. (Picture: ETC)")
Macpherson Industrial Complex has been sold for $103.9 million on its first collective sales attempt, says ETC, the marketing agent facilitating the sale. The selling price reflects a land rate of $831 psf per plot ratio (ppr), 17% higher than its initial guide price of $710 psf ppr.
The freehold industrial property is an eight-storey building with a 98m frontage along Lorong Bakar Batu. The property sits on a regular-shaped land parcel spanning about 49,410 sq ft. Zoned “Business 1” under the 2019 URA Master Plan, the site has a plot ratio of 2.5.
The property received “overwhelming response”, drawing a total of 12 tender submissions, says Swee Shou Fern, head of investment advisory at ETC. “The exceptionally strong interest reflects not only the strategic attributes of the MacPherson Industrial Complex, but also continued investor confidence in Singapore’s industrial real estate — especially freehold assets in prime city-fringe locations.”
The site offers connectivity to various parts of Singapore via major expressways, including the Central Expressway (CTE), Pan-Island Expressway (PIE) and Kallang-Paya Lebar Expressway (KPE). It is also within walking distance to Potong Pasir MRT Station on the North-East Line, and is near several lifestyle and dining options along MacPherson Road and Tai Thong Crescent. Nearby retail offerings include The Venue Shoppes, Poiz Centre and Grantral Mall.
