Freehold strata-industrial project Generations @ Tannery achieved a complete sellout on its public launch day (July 17), with all 54 production units and five canteen units taken up by 4pm. VIP previews for whole-floor purchasers began on July 16.

The 12-storey development offers strata-titled production units (1,658–2,695 sq ft) on the second to 12th floors, with five canteen units on the ground floor (ranging from 463 sq ft). Each floorplate spans 20,000 sq ft and accommodates up to 10 units.

Standout features include double-volume ceiling heights reaching 6.125m and column-free layouts, giving owners flexibility to combine or sublet units.

Read also: Generations @ Tannery: ‘Grade-A B1’ building redefining precinct's leather-making legacy

Located in MacPherson, Generations @ Tannery is a redevelopment by Providence Estates of the former City Industrial Building. It is a four-minute walk from Mattar MRT Station (Downtown Line), and is also just across the street from the upcoming Mattar residential precinct.

Freehold industrial projects are increasingly sought after. CT Gold, with 66 freehold strata-titled industrial units, achieved a complete sellout in two days during its launch on April 30-May 1. Generations @ Tannery replicated that speed just 2.5 months later.

"End-users and investors prefer freehold industrial projects for future capital appreciation and wealth preservation," says Lee Sze Teck, Senior Director of Data Analytics at Huttons Asia.

Data shows 999-year/freehold multi-user factory units now represent 16.5% of 2026 sales year-to-date, up 4.3 percentage points from 2022. This preference has widened the price gap between freehold and leasehold units to $488 psf in 2026, versus $391 psf in 2020. Interest rates have fallen 2.6 percentage points since end-December 2023, while rents for multi-user factories have risen nearly 7% in the same period.

With the top four floors of Generations @ Tannery reserved ahead of the launch, only 50 units were made available to the market. Prices ranged from $1,500 psf (eighth floor) to $2,000 psf (second floor). For industrial developments, the most premium units are those on the first and second levels.

Exclusive "Towkay units" on the second level of Generations @ Tannery commanded prices from $2.6 million.

Read also: Generations @ Tannery offers rare freehold industrial space with a values-driven vision

Canteen units were priced from $3,000 to $4,000 psf, with the smallest unit of 463 sq ft priced between $1.4 million and $1.85 million ($3,000–$4,000 psf).

Most government land sales are zoned for heavy industrial (B2) use with 30-year leases, making freehold B1 light industrial parcels like Generations @ Tannery rare, Lee notes.