Type

Units

Min Area

Price Range

Other

1098 sqft

S$1.6M – S$5.6M

Property Highlights

Commercial development with 2 units currently available.
Prices currently range from S$1.6M to S$5.6M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$320K on this acquisition.
Located 5 min (440 m) from CC2 Bras Basah MRT Station.

Price Trends & Rental Yield

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ICB Enterprise House: Premium Office Investment in the Heart of Bugis

ICB Enterprise House stands as a distinguished commercial offering in District 7, strategically positioned at 116 Middle Road in the vibrant Bugis and Rochor precinct. This established office development presents a compelling opportunity for investors, entrepreneurs, and established businesses seeking prime workspace with exceptional connectivity and accessibility to Singapore's central business corridors.

The commercial units at ICB Enterprise House are thoughtfully designed to accommodate a broad spectrum of professional occupants. Whether your enterprise operates as a growing technology startup, boutique consultancy, creative agency, or established professional services firm, the available floor plates offer the flexibility and functionality required for modern business operations. The efficient layouts enable configuration for open-plan collaborative zones, private executive offices, dedicated meeting rooms, and reception areas without compromise to operational flow.

Unparalleled Transport Connectivity

One of the primary strengths of ICB Enterprise House lies in its exceptional positioning relative to Singapore's public transport network. The development enjoys proximity to three major MRT stations, placing multiple transport options within a five to six-minute walk. Bras Basah MRT Station on the Circle Line lies approximately six minutes away on foot, whilst Bugis MRT Station, served by both the East-West and Downtown Lines, is equally accessible. Bencoolen MRT Station further reinforces the transport advantage of this location, ensuring that employees and clients can arrive via multiple independent routes without congestion risk.

Beyond the rapid transit network, ICB Enterprise House benefits from direct arterial connections. The East Coast Parkway (ECP), Central Expressway (CTE), and numerous primary roads converge near the development, enabling swift vehicular access to the broader Central Business District and all major commercial zones across the island. This multi-modal transport infrastructure fundamentally enhances the business viability of any operation based at the address and contributes meaningfully to employee convenience and client accessibility.

Commercial and Retail Ecosystem

The surrounding neighbourhood presents a dense concentration of complementary commercial and retail amenities that enhance the working environment and support daily business operations. Middle Road, Queen Street, and the adjacent Fortune Centre form a dynamic commercial corridor featuring an extensive array of dining establishments, cafés, and speciality retailers catering to professional workforces and business clientele. This diversity of food and beverage options ensures that employees and visiting clients have immediate access to quality refreshment and dining experiences without requiring travel beyond the immediate locality.

Shopping and leisure facilities further enrich the precinct's appeal. Bugis Junction, the adjacent Bugis+ mall, and the broader retail landscape including Suntec City and Raffles City are all within convenient reach, providing employees with convenient access to retail, banking, and personal services during working hours. This concentration of amenities fundamentally enhances the quality of working life for occupants and the perceived value of a business address in this location.

Investment Characteristics and Tax Efficiency

From an investment perspective, ICB Enterprise House presents structural advantages that merit serious consideration. Commercial office property at this location operates under GST-exempt status, meaning that rental income derived from commercial tenancies avoids the goods and services tax burden applicable to residential properties. This tax efficiency directly enhances net rental yield and improves the return on capital deployed into an office acquisition at this address.

The rental yield characteristics of commercial office space in District 7, particularly in this well-connected location, have demonstrated resilience across economic cycles. Investors considering acquisition for long-term rental income should anticipate yields broadly aligned with investment-grade commercial office assets in central locations, underpinned by consistent demand from SMEs, professional service providers, and technology firms seeking flexible, well-serviced workspace at accessible price points.

Market Positioning and Value Proposition

Pricing for units at ICB Enterprise House commences from approximately S$1.6 million, reflecting fair value for commercial office space in this central location with demonstrable transport advantages and strong fundamentals. The per-square-foot pricing aligns with comparable commercial transactions across the Bugis and Rochor precinct, positioning the development as competitively priced relative to alternative office accommodation in the same district. Prospective purchasers should evaluate comparative pricing against other established office buildings within walking distance of multiple MRT stations to establish whether the capital outlay aligns with their investment criteria and operational requirements.

The development appeals to multiple buyer cohorts: owner-occupiers seeking a permanent business headquarters in a prestigious central location; active investors targeting commercial property with strong tenant demand and rental growth potential; and portfolio investors diversifying real estate holdings across asset classes. The GST-exempt rental structure and demonstrated accessibility to Singapore's professional workforce make this an increasingly attractive proposition as demand for flexible, well-serviced office accommodation continues to strengthen throughout the central business district.

Strategic Considerations for Prospective Occupants

Commercial occupants evaluating ICB Enterprise House should consider the operational advantages embedded in this location. The triple MRT connectivity fundamentally de-risks transport logistics for employees arriving via public transit, reducing friction in talent recruitment and retention. The proximity to the CBD via multiple major expressways supports client visits and reduces travel time for off-site professional obligations. The immediate availability of dining, retail, and personal services eliminates the need for extended lunch breaks or after-hours travel, supporting productivity and employee satisfaction.

For businesses considering relocation to or expansion within central Singapore, ICB Enterprise House presents a pragmatic solution combining professional workspace, transport convenience, and cost-effective occupancy within the heart of one of Asia's most dynamic business precincts. The development's established market position, proven tenant attraction, and alignment with modern workplace requirements position it as a sound choice for organisations seeking permanent office accommodation or investment exposure to Singapore's commercial real estate market.

Frequently Asked Questions

What is the typical rental yield expected from purchasing an office unit at ICB Enterprise House?

Commercial office properties in District 7 with strong transport connectivity and established tenant demand typically generate rental yields in the 4–5% range, depending on unit configuration, floor level, and current market lease rates for comparable space in the Bugis and Rochor precinct. The GST-exempt status on commercial rental income at ICB Enterprise House provides a material advantage over residential property investment, as rental revenue is not subject to goods and services tax, directly enhancing the net yield realised by the investor. Investors should obtain current market rental evidence from licensed agents to establish the precise yield achievable for specific unit sizes at the property, factoring in maintenance costs, property tax, and anticipated vacancy periods typical for institutional-grade office space in central locations.

How does the per-square-foot pricing at ICB Enterprise House compare to recent office transactions in the surrounding area?

Pricing for commercial office space at ICB Enterprise House reflects fair market value relative to comparable properties within the Bugis, Rochor, and adjacent Lavender districts, where central location and MRT connectivity command premium pricing relative to office accommodation further from the CBD. Recent transactional evidence across this micromarket suggests per-square-foot pricing broadly aligned with ICB Enterprise House, positioning the development competitively within the range for established office buildings served by multiple rapid transit stations. Prospective purchasers should commission a formal comparable property analysis from licensed valuers or real estate agents to validate whether current asking prices represent fair value relative to recent arms-length transactions for similar-spec office space in the same district, accounting for differences in building age, amenities, floor plate efficiency, and tenant covenant strength.

Does Additional Buyer's Stamp Duty (ABSD) apply if I purchase an office unit at ICB Enterprise House as a second property?

Additional Buyer's Stamp Duty (ABSD) is a surcharge applicable exclusively to residential property acquisitions and does not apply to commercial office property purchases, regardless of whether the office unit constitutes a first, second, or subsequent real estate acquisition by the buyer. This critical distinction means that investors and owner-occupiers purchasing office space at ICB Enterprise House avoid the 20% ABSD rate imposed on second residential property purchases by Singapore Citizens, significantly reducing the total acquisition cost and improving the net return on investment. Commercial property buyers benefit substantially from this stamp duty structure, making office investment materially more tax-efficient than residential property acquisition for second and subsequent purchases, particularly for investors building diversified real estate portfolios.

Is ICB Enterprise House a freehold or leasehold property, and how does tenure affect long-term resale value?

The tenure status of ICB Enterprise House determines the long-term capital appreciation trajectory and desirability to successive purchasers; properties held on 99-year leases experience gradual lease decay that mathematically diminishes resale value as the unexpired tenure contracts, whilst freehold or 999-year leasehold properties retain their capital value substantially intact across multi-generational holding periods. Prospective buyers must establish the precise tenure of the development and evaluate whether the remaining lease duration aligns with their investment horizon and exit strategy, as properties approaching the later stages of a 99-year lease (typically below 70 years remaining) experience material valuation headwinds and reduced investor demand. For commercial office property held primarily for rental yield rather than capital appreciation, lease decay impact is somewhat moderated by the focus on income generation; however, medium to long-term investors should factor tenure carefully into purchase decisions to avoid acquiring assets with materially constrained future resale optionality.

How does the proximity of Bras Basah, Bugis, and Bencoolen MRT stations impact demand and capital appreciation potential?

Triple MRT connectivity within five to six-minute walking distance constitutes a primary value driver for commercial office property at ICB Enterprise House, as transport accessibility fundamentally determines tenant demand, occupancy rates, and rental pricing achievable by investors. The presence of three independent MRT lines (Circle Line via Bras Basah, East-West and Downtown Lines via Bugis) insulates the property from single-point transport failure and ensures broad accessibility for employees regardless of their residential location across Singapore, materially reducing recruitment friction for occupants. Capital appreciation of office property in the Bugis precinct is substantially underpinned by this exceptional transport positioning; as Singapore's employment base continues to concentrate in central locations and remote work adoption normalises, demand for office space accessible via reliable public transit will remain robust, supporting sustained rental growth and investor returns across extended holding periods.

Is ICB Enterprise House suitable for high-net-worth owner-occupiers, corporate upgraders, or investment-focused purchasers?

ICB Enterprise House appeals to multiple buyer profiles across the commercial real estate spectrum: high-net-worth owner-occupiers seeking a prestigious central business address and permanent operational headquarters benefit from the professional environment, transport convenience, and proximity to key client concentrations in the CBD; established corporate operators considering relocation or expansion gain access to cost-effective, well-connected workspace that supports talent retention and client accessibility. Investment-focused purchasers deploying capital into commercial real estate for rental yield benefit from consistent demand from SMEs, professional service providers, and technology firms seeking flexible, well-serviced office accommodation in central Singapore; the GST-exempt rental structure and resilient tenant demand dynamics across economic cycles position the property as suitable for yield-focused investors building diversified real estate portfolios. First-time commercial property investors should note that office property requires professional property management and tenant relationship skills distinct from residential lettings; however, the established nature of ICB Enterprise House and its mature tenant base reduce operational complexity relative to undeveloped commercial precincts.

What are the typical TDSR implications and financing availability for office purchases at this price point?

Commercial office property acquisitions at ICB Enterprise House typically attract standard mortgage financing from major Singapore banks and financial institutions, with Total Debt Servicing Ratio (TDSR) limits applying as strictly to commercial property as to residential acquisitions; however, rental income derived from the property may be included in borrower income calculations, effectively improving TDSR headroom available for mortgage qualification. Purchasers financing acquisitions in the S$1.6 million range should anticipate that typical lending institutions will extend 60–70% loan-to-value financing, requiring 30–40% cash deposit after accounting for stamp duty, professional fees, and transaction costs; precise financing terms depend on individual borrower creditworthiness, employment stability, and existing debt obligations. Prospective buyers should engage directly with their banking relationship manager or mortgage broker to establish pre-approval and precise financing capacity before committing to an offer, particularly if combining the office purchase with other property obligations; the commercial property characterisation of ICB Enterprise House may unlock different lending criteria or eligibility thresholds than residential mortgage products.

Which competing office developments in District 7 and adjacent areas provide alternative options, and how does ICB Enterprise House differentiate?

The Bugis and Rochor precinct hosts several established office buildings competing for the same tenant and investor base, including developments within or near Fortune Centre, adjacent office towers on Middle Road and Queen Street, and commercial properties in the nearby Jalan Sultan and Selegie Road corridors; these alternatives offer varying degrees of space efficiency, building amenity standards, and transport connectivity that merit comparative evaluation. ICB Enterprise House differentiates through its strategic positioning equidistant from three major MRT stations, reducing employee commute friction and broadening the accessible talent pool relative to office buildings serviced by only one or two rapid transit nodes; the established nature of the development provides mature tenant relationships and demonstrated market acceptance, reducing leasing risk relative to newer or repositioned office buildings. Prospective buyers should conduct site visits to competing properties, obtain current market rental evidence across the district, and compare per-square-foot pricing, building amenity standards, and accessibility metrics to validate whether ICB Enterprise House represents optimal value relative to competing alternatives serving the same professional tenant base.

Are specific unit stacks, floor levels, or floor plate orientations at ICB Enterprise House valued more highly by tenants and investors?

Commercial office tenants typically exhibit strong preferences for higher floor levels, which command rental premiums relative to lower floors due to perceived prestige, reduced street-level noise, improved natural ventilation, and enhanced views across Singapore's CBD and surrounding precincts; investors should anticipate that upper-floor units at ICB Enterprise House will achieve rental pricing 10–15% above comparable space on lower floors, supporting accelerated capital appreciation and yield enhancement. Units with dual aspect exposure (windows on opposing facades) and maximum natural light penetration typically achieve superior tenant appeal and rental realisation relative to single-aspect or interior-facing space, as modern office occupants increasingly prioritise employee wellness and environmental quality in workspace design; units offering flexibility for open-plan configuration or modular subdivision attract broader tenant appeal than rigidly partitioned space, supporting faster leasing and stronger rental growth. Floor plate efficiency (usable area as a percentage of total floor area) varies across the building; units with superior net-to-gross ratios effectively deliver more rentable space for the same nominal square footage, enhancing investor yield and tenant value proposition, and should be prioritised when evaluating multiple unit options within the development.

What is the future supply pipeline for office space in District 7 and Bugis, and how might new competing developments affect ICB Enterprise House values?

Singapore's long-term office supply pipeline indicates moderating new construction in central business locations relative to suburban office parks and business parks in emerging precincts such as Paya Lebar, Alexandra, and Jurong, partly reflecting land scarcity in the CBD and rising development costs; however, selective redevelopment of older commercial buildings in District 7 and adjacent Rochor may introduce modest new office supply competing directly with ICB Enterprise House over the medium term. Established properties with strong transport connectivity such as ICB Enterprise House are well-positioned to retain tenant demand and rental pricing stability even as new supply enters the market, as institutional-quality tenants prioritise location, accessibility, and building age/condition over purely square-footage metrics; newer competing developments may capture price-sensitive SME tenants or those prioritising premium amenity offerings, but the mature, well-connected positioning of ICB Enterprise House supports sustained occupancy and pricing power. Long-term investors should factor modest rental growth into yield projections rather than assuming significant outperformance, acknowledging that new competing supply in the district may moderate rental escalation rates relative to historical trends; however, the fundamental transport accessibility and central location of ICB Enterprise House provide durable competitive advantages that are unlikely to be substantially eroded by new office construction in the near to medium term.

Office At Middle Road — From S$1.6M