3.5 Investment Sales
Similar to 2013, industrial REITs were fairly active in 2014, despite concerns over an increase in interest
rates. However, most of the transactions were for investment lots below $50 million (Table 3.3).
Table 3.3: Major Private Industrial Investment Sales (2014)
Quarter Property Location Tenure
(years)
Purchaser
NLA
(sq ft)
Price
($ m)
Price ($
per sq ft)
Q1
39 Senoko
Way
Senoko Way 30 + 30 Soilbuild
Business
Space REIT
95,250
(GFA)
18.0
189
Q1
2A Changi
North Street
2
Changi North
Street 2
30 + 30 Mapletree
Industrial
Trust
67,800
(GFA)
14.1
208
Q2
Hyflux
Innovation
Centre
Bendemeer
Road
30 + 28 Ascendas
REIT
377,490 191.2
507
Q2
24 Leng
Kee Road
Leng Kee
Road
99 Lian Beng
Group
& Vincar
Leasing
176,959
(GFA)
46.2
261
Q3
Aperia
Kallang
Avenue
60 Ascendas
REIT
933,187
9
(GFA)
458.0
491
Q3
Jackson
Square
Lorong 3 Toa
Payoh
60 Viva
Industrial
Trust
355,265 80.0
225
Q4
10 Changi
South Street
2
Changi
South Street
2
30 + 27 Sabana
REIT
189,609
(GFA)
50.0
264
Q4
20 Kian
Teck Lane
Kian Teck
Lane
30 + 20 Soilbuild
Business
Space REIT
93,764
(GFA)
22.4
239
Q4
16
International
Business
Park
International
Business
Park
41.6
(remaining)
Cambridge
Industrial
Trust
69,258
(GFA)
28.0
404
Source: DTZ Consulting & Research, February 2015
4.0
PRIVATE WAREHOUSE SPACE
4.1 Supply, Demand and Occupancy
Supply in 2014 was significant as stock grew by 8.8%, higher than the 4.3% in 2013
Private warehouse stock grew by 8.8% from 82.3 million sq ft in 2013 to 89.5 million sq ft in 2014.
Similar to factory space, there has been mounting supply in the warehouse sector. Notably, 2014 saw
the most significant supply of warehouse space (7.3 million sq ft) in the last decade, which was more
than double of that in 2013 (3.4 million sq ft).
INDEPENDENT MARKET STUDY
9
Includes both B1 (778,122 sq ft) and retail & amenity space (155,065 sq ft).
SABANA REIT
|
ANNUAL REPORT 2014
32
