MacPherson Industrial Complex, a prime freehold industrial property on Lorong Bakar Batu, has been put up for collective sale via tender, according to sole marketing agent ETC. The site has an asking price of $88.8 million, reflecting a land rate of $710 psf per plot ratio (ppr).
The property comprises an eight-storey building with a wide 98-metre frontage. Located within the MacPherson industrial estate, the property sits on a regular-shaped freehold land parcel of approximately 49,410 sq ft. Zoned for “Business 1” use, the site has a plot ratio of 2.5.
According to an April 15 release, the site can be redeveloped up to its existing gross floor area (GFA) of 125,002 sq ft, reflecting a plot ratio of 2.53. ETC adds that the eight-storey building also offers an alternative for adaptive reuse, which could provide a faster, more cost-efficient option for investors and end-users.
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). The site is also located within walking distance from Potong Pasir MRT Station on the North-East Line and is close to various lifestyle and F&B options along MacPherson Road, Tai Thong Crescent. Nearby retail offerings include The Venue Shoppes, Poiz Centre and Grantral Mall.
No Additional Buyer Stamp Duty (ABSD) will be payable for the property, with no restrictions to foreigners.
Swee Shou Fern, head of investment advisory at ETC, says: “Given the tightening supply of quality freehold industrial assets and robust interest in city-fringe sites, we expect strong demand for this property.”
Swee notes the “continued appetite for quality industrial assets”, reflected in recent industrial deals. Earlier this month, Ching Shine Industrial Building on Shaw Road in the Tai Seng area was sold to Soon Hock Group at $824 psf ppr. The property is less than 3km away from Macpherson Industrial Complex.
In 2023, ETC brokered the deal for an industrial building at 50 Playfair Road, also in the Tai Seng area. The building was sold to Apex Asia at $895 psf ppr and has since been redeveloped into FoodPoint @ Tai Seng.
The tender for MacPherson Industrial Complex is expected to close on May 23 at 3pm.
