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Warehouse rent here exits global top 10

Posted on 9 Oct 2009 | Comments Off

PRIME warehouse rents slipped in the first half of the year to push Singapore out of the 10 most expensive prime warehouse markets in the world.

According to a Colliers International study, Singapore is now No 14, six rungs down from No 8 in a previous ranking covering the second half of 2008.

Prime warehouses here offering space of 20,000 square feet or more fetched an average rent of US$12.38 per square foot per year in first-half 2009.

Tokyo retained top spot with an average prime warehouse rent of US$22.18 psf per year – 79 per cent higher than in Singapore.

London Heathrow remained second with an average prime warehouse rent of US$20.64 psf per year.

Across the Asia-Pacific, Singapore is the fourth most expensive place to rent prime warehouse space – down one notch from the second half of 2008.

Tokyo, Hong Kong and Seoul occupied the top three spots.

As for bulk warehouses with space of 100,000 sq ft or more, Singapore is in 13th position, with rents averaging US$9.90 psf per year.

Across the Asia-Pacific, Singapore is the fourth most expensive place to rent prime warehouse space – down one notch from the second half of 2008.

Tokyo, Hong Kong and Seoul occupied the top three spots. Continue reading →

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Posted in Office / Retail / Industrial

Tagged Industrial Rental, Industrial Space, Singapore Industrial, Warehouse, Warehouse Rental, Warehouse Space

Industrial property rents fall for 4th straight quarter

Posted on 1 Oct 2009 | Comments Off

But Q3 drop is smaller than Q2’s; gap with office rentals narrows

PRIVATE industrial property rents fell for the fourth consecutive quarter in the three months ended September, although the pace of declines eased.

Data from DTZ Research shows that the average gross monthly rental value for first-storey private conventional industrial space fell 2.4 per cent to $2 per square foot in Q3 from $2.05 psf in Q2.

The drop was smaller than the 6.8 per cent slide seen in Q2. Similarly, the average rent for upper-storey space slipped 5.9 per cent to $1.60 psf in the latest quarter, smaller than Q2’s 8.1 per cent.

DTZ noted that the rental slide for high-tech industrial properties, which include business park and science park space, also moderated in the third quarter. After a 12.8 per cent drop in Q2, the average monthly rent for such space declined 5.9 per cent to $3.20 psf in Q3.

From their peak in Q3 last year, average monthly rents of first-storey and upper-storey private conventional industrial space have slipped 14.9 per cent and 22 per cent respectively. The average high-tech industrial rental value has lost 28.9 per cent over the same period. Continue reading →