The Macpherson Industrial Complex has been successfully sold for $103.9 million, surpassing its initial asking price by 17%. This significant transaction marks a notable milestone in the industrial real estate sector of Singapore, particularly as it represents the first successful collective sale of the property. The complex was initially listed for $88.8 million, and the final selling price reflects strong investor confidence in the market, showcasing a land rate of $831 per square foot per plot ratio.
Situated on a land parcel of approximately 49,410 square feet, the eight-story building is strategically located, benefiting from excellent connectivity via major expressways. Its proximity to public transport and various amenities further enhances its appeal to potential buyers and investors alike. The complex attracted considerable interest, evidenced by the receipt of over 12 tender submissions during the sales process. This level of engagement highlights the competitive nature of the industrial real estate market in Singapore and suggests that investors are actively seeking opportunities in this segment.
The marketing of the Macpherson Industrial Complex was facilitated by ETC, a recognized agency in the property market, which played a crucial role in orchestrating the sale. Their expertise in navigating the complexities of collective sales helped to streamline the process, ensuring that the property was positioned effectively to attract potential buyers.
The successful outcome not only benefits the sellers but also reflects positively on ETC’s marketing strategies and capabilities.
The strong selling price achieved for the Macpherson Industrial Complex can be attributed to various factors, including its favorable location and the current demand for industrial spaces in Singapore. The area is known for its robust infrastructure and accessibility, making it an attractive option for businesses looking to establish a presence in the region.
As industrial properties continue to gain traction in the marketplace, the Macpherson Industrial Complex stands as a testament to the ongoing vitality of this sector.
As urbanization and industrialization persist in Singapore, properties such as the Macpherson Industrial Complex are likely to remain in high demand. Investors are increasingly recognizing the potential for growth in industrial real estate, especially in locations that offer strategic advantages.
The successful sale of the Macpherson Industrial Complex serves as an encouraging sign for similar properties in the market, indicating a healthy appetite among investors for well-located industrial spaces.
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News Source: Edgeprop
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