Macpherson Industrial Complex has been sold for $103.9 million during its initial attempt at collective sales, according to ETC, the marketing agency overseeing the transaction. This selling price corresponds to a land rate of $831 per square foot per plot ratio (psf ppr), which is 17% above the original guide price set at $710 psf ppr.
The property, which is freehold, consists of an eight-storey building with a 98-meter frontage along Lorong Bakar Batu. It occupies a well-proportioned land area of approximately 49,410 square feet. Under the 2019 URA Master Plan, the site is designated as “Business 1” and features a plot ratio of 2.5.
According to Swee Shou Fern, head of investment advisory at ETC, the property garnered an “overwhelming response,” resulting in a total of 12 tender submissions. She noted that “the exceptionally strong interest illustrates not only the strategic advantages of MacPherson Industrial Complex but also ongoing investor confidence in Singapore’s industrial real estate market — particularly for freehold properties located in prime city-fringe areas.”
The location provides excellent connectivity to various regions across Singapore via major expressways such as the Central Expressway (CTE), Pan-Island Expressway (PIE), and Kallang-Paya Lebar Expressway (KPE). Additionally, it is conveniently situated within walking distance from Potong Pasir MRT Station on the North-East Line and is in proximity to numerous lifestyle and dining options along MacPherson Road and Tai Thong Crescent. Nearby retail establishments include The Venue Shoppes, Poiz Centre, and Grantral Mall.