Industrial investment sales crashed 81.7% to $182m in 1Q

It's the lowest recorded sales since 1Q10.

According to Knight Frank, total investment sales for the industrial sector plummeted by 81.7 per cent from $998 million in 4Q 2013 to only $182 million in 1Q 2014. This is the lowest quarterly investment sales recorded since 1Q 2010.

Here's more:

Despite the conclusion of 7 sites being sold under the Industrial Government Land Sales programme (IGLS) in 1Q 2014, the total public investment sales was only $84 million since most of these sites were smaller in size and quantum. The main transaction was the sale of Woodlands Industrial Park E9 site to Vantage Properties for a purchase price of $56.2 million or $113 psf ppr.

Investment activities in the private industrial sector were more lacklustre as there were only 5 transactions which amounted to $98 million in 1Q 2014. The waning interest in industrial sites from industrialists could have been a result of the recent measures implemented by JTC as well as the huge upcoming supply of industrial space into the market.

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