Rents for prime conventional factory upper floor space surged 38.9% versus 3Q09

Overall industrial rents stayed unchanged.

According to Colliers International, as of June 2013, industrial rents across all the industrial premises segments remained unchanged on a quarter-on-quarter basis. 

The average monthly gross rents of prime conventional factory space stayed at S$2.49 per sq ft for ground-floor space and at S$2.18 per sq ft for upper-floor space in 2Q 2013. This is 33.2 per cent and 38.9 per cent higher than the last troughs in 3Q 2009, respectively. 

Likewise, the average monthly gross rents of ground- and upper-floor warehouse premises in 2Q 2013 remained at the preceding quarter’s level of S$2.62 per sq ft and S$2.15 per sq ft, respectively.

This is a recovery of 38.6 per cent and 43.3 per cent from the respective troughs in 3Q 2009 and 2Q 2009. In the high-specifications (high-specs) industrial space segment, rents of ground- and upper-floor space in 2Q 2013 were also unchanged at the level recorded in 1Q 2013 – S$3.30 per sq ft and S$2.98 per sq ft, respectively. 

The average monthly gross rents of business park space also held steady at S$4.04 per sq ft in 2Q 2013, after the increase of 3.3 per cent in 1Q 2013.