Private industrial investment sales rebounded to $1.4b in Q3

Here's what boosted this growth.

According to Knight Frank, largely attributed by Soilbuild Business Space Reits, investment sales in the private industrial sector rebounded strongly from $83.2 million in 2Q 2013 to $1.4 billion in 3Q 2013.

Here's more from Knight Frank:

Analogous to the commercial and hotel sector, 3Q 2013 saw one of the largest industrial investment sale of HP Building purchased by United Engineers. The industrial building at Alexandra Road was purchased together with its office building for a total amount of $402 million.

Assuming a $1,800 per sq ft per Net lettable Area (NLA) for the office building, the industrial component is transacted at an estimated investment quantum of about $191 million. 

Lam Soon Building, a freehold 10-storey light industrial strata-titled development at Hillview Avenue, was divested by Cambridge Industrial Trust (CIT) at $140.8 million to Enviro-Hub Holdings. The stake sold by CIT comprised 97 strata units.

Investor sentiment in the industrial sector has picked up significantly compared to 2012, when the full-year total industrial investment sales value amounted to $1.44 billion. To date, the cumulative industrial investment sales value in the last 3 quarters of 2013 totalled $2.5 billion. 

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