Type

Units

Min Area

Price Range

Other

2174 sqft

S$1.8M – S$2.1M

Type

Units

Min Area

Price Range

Other

2390 sqft

S$5,888/mo

Property Highlights

Commercial development with 3 units currently available.
Prices currently range from S$5,888 to S$2.1M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$1,178 on this acquisition.
67% of current units are for sale, from S$1.8M; 33% are for rent, from S$5,888/mo.
Located 13 min (1.06 km) from CC12 Bartley MRT Station.

Price Trends & Rental Yield

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Inspace: Light Industrial Excellence on New Industrial Road

Inspace stands as a purpose-built light industrial development strategically positioned on New Industrial Road, one of Singapore's most established industrial thoroughfares. The project addresses the sustained demand for modern B1-classified light industrial space from manufacturers, contract makers, and technology-enabled assembly operations seeking facilities that blend operational efficiency with connectivity to both the city and regional logistics hubs.

The development offers units ranging from 2,174 square feet upwards, with pricing commencing from S$2,088,000. This scale of industrial space serves the sweet spot for growing manufacturing enterprises and light assembly operators who have graduated from shared workshop arrangements but do not require the footprint of large-scale warehouse operations. Each unit is configured to support businesses requiring clean manufacturing environments, quality control operations, and on-site logistics coordination without the overhead of massive warehouse infrastructure.

Location and Connectivity Advantages

New Industrial Road's strategic position within Singapore's central industrial zone delivers immediate advantages for operational businesses. The development sits approximately 13 minutes and 1.06 kilometres from Bartley MRT station on the Circle Line (CC12), positioning it within easy reach of the broader transport network. This proximity to Bartley station meaningfully reduces commute times for management and technical staff whilst maintaining direct connections to the central business district and other industrial clusters across the island.

Beyond MRT accessibility, the development benefits from New Industrial Road's established position as a logistics and manufacturing corridor. The area has historically attracted precision engineering firms, electronics manufacturers, and light assembly operations, creating an ecosystem where complementary businesses cluster. This concentration of industrial activity generates supply chain efficiencies, specialist vendor presence, and informal business networks that newer industrial parks take years to develop. For expanding manufacturers and contract operators, this established infrastructure represents a tangible competitive advantage.

Industrial Space Standards and Configuration

Modern light industrial space demands more than raw square footage—it requires appropriate ceiling heights, robust utility infrastructure, and flexibility for machinery installation. Inspace has been designed to deliver these operational fundamentals. The 2,174 square feet units provide sufficient floor area for mixed manufacturing, assembly, and logistics operations whilst remaining efficient from a rental cost and utility consumption perspective. This size category typically accommodates 8 to 15 personnel, making it ideal for owner-operator businesses and small to mid-sized manufacturing enterprises.

The B1 classification confirms the units meet Singapore's strict environmental and operational standards for light industrial use, eliminating noise, odour, and effluent concerns that plague businesses operating from inappropriate premises. This compliance removes a substantial regulatory burden and positions Inspace operators to scale without facility relocation as their business grows. For many manufacturing SMEs, this assurance of zoning compliance and operational legitimacy is worth a material premium to the security of tenure.

Investment Profile and Market Position

Light industrial space in the central zone has proven a resilient asset class, with sustained demand from manufacturers responding to supply chain diversification away from China and India. The rise of nearshoring and increased emphasis on quality control has driven demand for light industrial facilities in established clusters like the New Industrial Road precinct. Investors acquiring units at Inspace position themselves to benefit from both operational user demand and broader economic trends favouring domestic manufacturing capacity.

The pricing point of the development—commencing from S$2,088,000—places Inspace within reach of owner-operators seeking to acquire rather than lease, as well as institutional and semi-institutional investors seeking to build industrial real estate portfolios. This democratisation of ownership encourages both strong occupancy fundamentals and healthy secondary market liquidity, as buyers have clarity on both the operational case for their business and the investment case for capital appreciation.

Economic and Regulatory Context

Singapore's continued emphasis on advanced manufacturing, electronics, pharmaceuticals, and precision engineering maintains sustained demand for light industrial facilities. Government support for small and medium-sized enterprises, coupled with initiatives to support manufacturing innovation and Industry 4.0 adoption, creates a favourable policy environment for businesses occupying modern industrial space. Inspace's location within the established central industrial zone places it at the heart of these policy incentives.

The regulatory environment for light industrial space remains supportive, with the Urban Redevelopment Authority maintaining a balanced approach to industrial land use. New Industrial Road itself has been designated as a priority industrial corridor, reducing the risk of sudden zoning changes or residential encroachment. This policy stability benefits both occupiers and investors, as it provides confidence in long-term operational viability and asset value preservation.

Market Dynamics and Competitive Context

The broader market for central-zone light industrial space remains characterised by steady demand and limited new supply. Older industrial estates in the New Industrial Road precinct have either been progressively redeveloped for mixed-use or residential purposes, or upgraded in place, creating a natural scarcity of modern, well-maintained facilities. Inspace enters this market with contemporary standards, supporting systems, and operational infrastructure that represent a material upgrade from the ageing stock that still dominates parts of the industrial corridor.

This supply constraint, combined with the precinct's established reputation and infrastructure maturity, supports both rental growth and capital appreciation. New entrants to the manufacturing sector increasingly demand facilities that reduce their operational risk and regulatory compliance burden, driving a quality-led market dynamic rather than a price-driven one. Inspace benefits directly from this shift towards modern, purpose-built industrial space.

The development represents a compelling opportunity for both owner-occupiers seeking modern manufacturing facilities and investors seeking exposure to the light industrial asset class in an established, policy-protected precinct. With connectivity to the broader transport network, alignment with Singapore's manufacturing strategy, and strong underlying demand from diverse user categories, Inspace is positioned to deliver both operational functionality and investment returns within the dynamic light industrial sector.

Frequently Asked Questions

What rental yield should I expect if I purchase a unit at Inspace as an investment?

Light industrial space in the central industrial zone typically commands gross rental yields between 4% and 6%, depending on unit size, tenant profile, and lease structure. Inspace's position on New Industrial Road, combined with its modern standards and proximity to Bartley MRT station, positions it favourably within this range. Smaller units (2,000–2,500 sqft) often achieve yields at the higher end, as they appeal to owner-operators and scaling SMEs willing to pay competitive rents for quality facilities. The development's appeal to both owner-operators and institutional tenants creates dual liquidity, supporting consistent occupancy and rental growth aligned with broader inflation. However, yields are subject to tenant quality, lease length, and economic cycles affecting manufacturing demand, so prospective investors should conduct specific tenant and market analysis rather than relying on historical averages.

How does Inspace's per-square-foot pricing compare to recent transactions in the New Industrial Road precinct?

At a starting price of S$2,088,000 for approximately 2,174 sqft, Inspace is priced around S$960 per sqft, positioning it competitively within the central industrial zone. Recent comparable transactions in the New Industrial Road area have ranged from S$850 to S$1,100 per sqft, depending on building age, ceiling height, and tenant profile. Inspace's modern construction, compliance standards, and MRT proximity support pricing at the higher end of this range, as buyers and investors are willing to pay premiums for facilities that reduce operational risk and support long-term value accretion. The pricing reflects genuine scarcity of new light industrial supply in this precinct, where most existing stock dates from the 1990s and early 2000s. Investors should benchmark these figures against older, smaller units in the same area to understand the true value differential that modern facilities command.

What is the Additional Buyer's Stamp Duty impact if I buy a second residential property alongside an Inspace unit?

Light industrial space classified as B1 is not residential property, so purchasing an Inspace unit does not trigger Additional Buyer's Stamp Duty (ABSD) regardless of whether you already own residential properties. However, if you are a Singapore Citizen purchasing your second residential property elsewhere whilst owning Inspace, you would pay 20% ABSD on that residential acquisition. Conversely, if you already own a second residential property and then purchase Inspace as an investment, no ABSD applies to the industrial purchase itself. Permanent Residents face different ABSD regimes depending on citizenship status and property count, so it is essential to seek specific tax advice if you fall outside the Singapore Citizen category. The key takeaway is that light industrial acquisitions do not attract ABSD, making them attractive for investors seeking to diversify beyond residential without triggering stamp duty penalties.

Is there lease decay risk with Inspace, and how might it affect long-term resale value?

Inspace units carry a defined lease tenure that will be disclosed at point of sale—either 99 years, 999 years, or Freehold. Light industrial properties with shorter leases (99 years) do experience capital value decay as the lease approaches expiry, typically declining 0.5% to 1% annually in the final 20 years. However, light industrial assets are valued primarily on income yield rather than on lease length, as investors focus on rental coverage and occupancy rather than inheritance value. Properties leased to strong tenants on long-term agreements (10 years or more) often maintain value despite lease decay, as the cash flow certainty and tenant covenant offset lease expiry concerns. If Inspace is offered on a Freehold or 999-year basis, lease decay is negligible, and long-term appreciation potential is substantially enhanced. Investors should confirm the lease tenure at the earliest stage and factor this into their acquisition and exit timing strategy.

How does proximity to Bartley MRT station support capital appreciation and tenant demand at Inspace?

Proximity to MRT stations has become a primary driver of industrial property values and occupancy rates, as connectivity reduces operational costs and improves staff commute logistics. Inspace's location just 13 minutes from Bartley MRT station (Circle Line, CC12) positions it as one of the more accessible light industrial assets in the central zone, particularly attractive to growing businesses seeking to recruit and retain technical and management talent without imposing extreme commutes. MRT accessibility also enhances the asset's appeal to owner-operators who personally commute, and to logistics operators who benefit from staff access to rapid transit. This connectivity advantage typically supports rental growth ahead of inflation and attracts premium-paying tenants with strong creditworthiness. Capital appreciation in MRT-proximate industrial assets has historically outpaced precinct averages, reflecting the increasing scarcity of well-located facilities and the compounding effect of higher rents over time. As Singapore intensifies its focus on sustainable transport-oriented development, light industrial properties within 15 minutes of rapid transit are increasingly prized.

Which buyer profiles are most suited to purchasing units at Inspace?

Inspace appeals to three primary buyer categories. Owner-operators in precision engineering, contract manufacturing, electronics assembly, and light logistics benefit directly from modern facilities that reduce operational risk and support scaling. Emerging manufacturers seeking to upgrade from shared workshop arrangements find the 2,174 sqft units appropriately sized and priced for owner-occupancy. Financial investors and property development companies seeking to build industrial portfolios are attracted by the development's modern standards, MRT connectivity, and position in an established industrial precinct, as these factors support consistent rental income and long-term capital appreciation. Small to mid-sized funds and family offices seeking infrastructure-like asset exposure increasingly view modern light industrial facilities as lower-volatility alternatives to office or retail, particularly given sustained manufacturing demand. First-time industrial property investors may find Inspace more accessible than large-format warehouse assets or trophy-grade trophy industrial parks, as the unit size and pricing facilitate learning and portfolio building. High-net-worth individuals seeking operational diversity beyond residential property also view industrial acquisitions as portfolio stabilisation, given the income stability and relatively low leverage requirements relative to residential investment.

What are the TDSR and financing headroom implications for buyers at Inspace's typical price points?

At a starting price of S$2,088,000, most lenders will advance 50% to 60% of the purchase price for light industrial property, requiring owner-occupiers to commit S$835,000 to S$1,045,000 in equity. For buyers with strong credit profiles and existing income, this equity requirement is typically manageable, leaving substantial financing headroom for other acquisitions or operational investments. TDSR (Total Debt Service Ratio) limits cap monthly servicing at 60% of gross monthly income; on a typical 25-year industrial mortgage at current rates, the S$1,250,000–S$1,300,000 borrowing will require monthly servicing of approximately S$6,000–S$6,500, implying a minimum gross monthly income of approximately S$10,800–S$11,000 for comfortable headroom. Owner-occupiers can often establish stronger borrowing cases than pure investors, as lenders credit rental offset against the industrial use, effectively enhancing borrowing capacity. Investors should model acquisition costs including conveyancing and ABSD (if applicable to secondary properties), and factor in working capital requirements for tenant fit-out and operational support. The light industrial pricing point typically favours buyers with S$1m+ in available equity and stable income of S$100,000+, positioning Inspace as accessible to established professionals and business owners rather than first-time property buyers.

How does Inspace compare to competing light industrial developments in nearby precincts?

The central industrial zone includes competing facilities in precincts such as Ang Mo Kio, Bukit Batok, and Jurong East, as well as other New Industrial Road-adjacent developments. Inspace's primary competitive advantage is its position within an established, policy-protected industrial corridor with mature infrastructure and existing tenant clusters. Many competing developments offer greater space (larger units or floorplates) but at locations further from MRT nodes or in precincts with lower tenant concentration. Ang Mo Kio facilities often command slight premiums due to Ang Mo Kio MRT connectivity, but experience longer commutes from the central business district, offsetting the MRT benefit. Jurong East precinct offers scale and newer supply but attracts more commodity-oriented light assembly and warehousing, rather than precision manufacturing or technology-enabled operations. Bukit Batok facilities typically offer lower per-sqft pricing but are more remote and attract lower-tier tenants with weaker creditworthiness. Inspace benefits from occupying the middle ground: modern facilities in an established cluster with strong tenant quality and MRT connectivity, without the premium pricing of trophy industrial parks in Marina Bay or the obsolescence risk of ageing facilities in less-developed precincts. For investors seeking balanced risk-return profiles and owner-occupiers prioritising location over absolute space, Inspace compares favourably to competing options.

Which unit stack or floor level at Inspace typically offers the best value proposition?

Ground-floor units typically command 10–15% premiums over upper floors due to ease of loading and unloading, direct vehicle access for logistics, and visibility from the street. However, ground-floor premium reflects occupier preference rather than superior investment returns, as upper-floor units often achieve equivalent rental yields with lower carrying costs. Mid-floor units (floors 2–4 if applicable) often represent optimal value for investors, as they retain adequate loading convenience whilst avoiding the premium pricing of ground level. The specific value equation depends on the building's configuration, ceiling heights on each floor, and tenant profile—businesses requiring heavy machinery and frequent vehicle movement justify ground-floor premiums, whilst light assembly, R&D, and administrative operations achieve equivalent productivity on upper floors. Investors should assess the development's floor-by-floor specifications carefully, as modern industrial design increasingly supports vertical stacking of light operations, reducing the traditional ground-floor premium. Location within the development (corner units, end-of-row units with separate vehicle access) also commands modest premiums. For pure investment, upper-floor units in modern buildings often offer superior value, as they attract growing professional services and light manufacturing businesses willing to pay competitive rents for quality facilities, without the carrying cost penalty of prime ground-floor space.

What is the future supply pipeline in the New Industrial Road precinct, and how might it affect Inspace's long-term value?

New Industrial Road and the surrounding central industrial zone face limited new supply, as most industrial land in the precinct is either fully developed or subject to competing land-use pressures from residential and mixed-use development. The Urban Redevelopment Authority's master plan continues to designate this area as a priority industrial zone, constraining large-scale redevelopment and supporting long-term asset value preservation. Ageing facilities in the precinct are being upgraded in place rather than replaced, reducing the risk of structural oversupply whilst creating continued demand for modern facilities. However, broader-zone supply additions in adjacent precincts (particularly Ang Mo Kio and Jurong) may introduce indirect competition if those facilities offer lower rents or greater space. The national Industrial Land Programme aims to preserve industrial land and support modernisation, suggesting policy support for assets like Inspace rather than displacement or devaluation. Over the next 5–10 years, supply constraints in the central zone are expected to support rental growth and capital appreciation, as scarcity of modern, MRT-proximate light industrial space increases. However, long-term structural risks include potential zoning shifts if residential demand pressures intensify, though such changes would be signalled well in advance by planning authorities. Investors should monitor URA master-plan reviews and any changes to industrial land designations, but current policy settings suggest Inspace benefits from supply protection and supportive land-use policy.

Light Industrial At New Industrial Road — From S$5,888