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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.
5 Lorong Bakar Batu Location
5 Lorong Bakar Batu is located within the MacPherson Industrial Estate in District 13, Singapore. It is home to the Macpherson Industrial Complex, a light industrial precinct which serves commercial transport, logistics, and manufacturing services. Close to the fringe of the city and a crossroads of major transportation corridors, the destination is also an industrial site with major redevelopment and investment potential. As a result of the surrounding amenities, excellent connectivity, and due to its central location, the development and investors’ interest took root and Singapore’s appetite for modern industrial space is there.
5 Lorong Bakar Batu also has unique characteristics of being located in MacPherson, a mature industrial district with a great variety of businesses. The site is developed on about 49,410 sq. ft freehold land and zoning is for Business 1 (B1) industrial use under the URA Master Plan. Zoning B1 permits businesses to carry out light industrial tasks (warehousing, technology, research, light manufacturing, etc.) in the development area. The proximity to the city centre and well-serviced infrastructure have cemented the area as a strategic industrial cluster within Singapore.
The MacPherson Area offers businesses convenient availability of suppliers and service customers and also has good transportation connections. Tech companies, creatives, e-commerce companies and light manufacturers, as the industrial units that dot the area, can be found in these buildings. And then, lastly, one of their big draw here is that the location features a wide road frontage along Lorong Bakar Batu. The frontage and site layout provide high visibility, convenient vehicular access (98 metres), ideal for business logistics and delivery businesses.
Potential of the Site
Transport Connectivity.
Connectivity is one of the defining attributes among 5 Lorong Bakar Batu’s area locations. With facilities, the site enjoys an up-and-coming connectivity system to Singapore’s expressway networks that allow the transfer of material across this iconic island. A few major expressways – Pan-Island Expressway (PIE), Central Expressway (CTE), Kallang-Paya Lebar Expressway (KPE) – are accessible from the development. These expressways connect the area that surrounds the MacPherson area with essential business areas such as the Central Business District, Changi Business Park and Jurong industrial zones.
Employees and visitors also have access to public transport. The closest MRT station is Potong Pasir on the North East Line, some 600 metres away from the location. Additionally, nearby stations are Mattar MRT and Geylang Bahru MRT for commuting commuters in the area. The seamless access enabled businesses at 5 Lorong Bakar Batu to attract staff across Singapore but provided fast, convenient transport routes for logistics operations.
Close by Amenities and Lifestyle Attractions.
Although the area is mainly industrial in character, there are various nearby facilities that work at for workers and people. The MacPherson area has good proximity to shopping centres and supermarkets offering residents a comfortable atmosphere in which to work in the area. Retail and lifestyle amenities in the vicinity include shopping centres like The Venue Shoppes, The Poiz Centre, and Grantral Mall.
These malls offer retail shops, eateries, and more, in the form of shops and supermarkets. It means that Lorong Bakar Batu employees can effortlessly use these facilities for lunch or after work time. It is another favourite street in the community to eat. Between Circuit Road Hawker Centre and MacPherson Road the local and international cuisine are also varied, also convenient for workers looking for value-driven dining. The supermarkets NTUC FairPrice, Prime Supermarket and Sheng Siong are near the site for everyday necessities as well as for grocery shopping. These facilities increase overall convenience with its location, for businesses especially where employees worked long hours.
Access to Business and Commercial Hubs
Yet another factor that has enhanced the allure of 5 Lorong Bakar Batu is its proximity to a few commercial and business districts. The MacPherson area sits close to Tai Seng and Paya Lebar which are new commercial nodes recently developed. Tai Seng has become a hub for technology companies, media and other corporate offices, and Paya Lebar Central is now an essential commercial center with office towers, retail malls and business parks.
The proximity to these areas allows the businesses that operate at 5 Lorong Bakar Batu to reach a wider business community. The Central Business District and Orchard Road can be accessed by car in only twenty minutes so you’re also well placed as a commercial company that needs to interact with customers or partner in the city centre.
Strong Redevelopment Potential.
The prospective location at 5 Lorong Bakar Batu has been widely known in the property market. The former Macpherson Industrial Complex has been sold through collective sale for around S$103.9 million, demonstrating strong need for industrial land convenient to the heart of Singapore.
Under the URA Master Plan 2019, the Business 1 zoning and plot ratio of approximately 2.5 on the site gives developers the opportunity to redevelop the whole property into a new modern multi-storey industrial complex. This redevelopment is especially attractive when you consider many older industrial plants in Singapore are getting replaced by modern ramp-up factories and business spaces.
The new developments sometimes feature higher ceilings, better floor loaders and direct cars onto upper floors. These are modern logistics, technology and manufacturing type services. Due to the location and freehold tenure the site is anchored, there are also opportunities for the value to be vastly improved with the redevelopment. At the side of the city fringe, industrial sites are relatively sparse, making them attractive to investors.
