Type

Units

Min Area

Price Range

Other

334 sqft

S$1M – S$1.8M

Property Highlights

Commercial development with 2 units currently available.
Prices currently range from S$1M to S$1.8M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$201K on this acquisition.
Freehold.
Located 8 min (690 m) from CC25 Haw Par Villa MRT Station.

Price Trends & Rental Yield

Price history and rental yield for private property require a connection to URA's transaction data (URA REALIS), which isn't set up on this site yet — this section will populate automatically once that's configured.

Interested in this property?

Send a quick enquiry our Singapore Property team will reach out within 24 hours.

Icon @ Pasir Panjang: Freehold Commercial Opportunity in a High-Growth Corridor

Icon @ Pasir Panjang represents a rare opportunity for business owners and investors seeking premium freehold commercial space in one of Singapore's most strategically positioned neighbourhoods. Located at 218 Pasir Panjang Road, this development offers F&B-ready ground-floor units that combine immediate operational readiness with the stability of freehold tenure. The project capitalises on the transformative Greater Southern Waterfront initiative, which is reshaping the entire Pasir Panjang to Marina East corridor into a vibrant mixed-use destination for residents, professionals, and entrepreneurs alike.

The commercial units at Icon @ Pasir Panjang have been thoughtfully designed with the needs of food and beverage operators in mind. Each F&B-ready space arrives equipped with essential infrastructure including water points, floor traps, and exhaust systems, eliminating costly delay in bringing your concept to market. High-capacity electrical supply, specifically three-phase 100-amp service, ensures that modern kitchen equipment and customer-facing technology can operate without constraint. Ground-floor positioning delivers the street frontage and customer visibility that make or break hospitality ventures, whilst convenient loading and unloading access supports efficient day-to-day operations.

Pasir Panjang's location relative to public transport is a significant advantage. The Haw Par Villa MRT Station on the Circle Line sits just eight minutes away by foot—approximately 690 metres from the development. This proximity ensures that both staff recruitment and customer accessibility remain hassle-free, a critical consideration for any food service business. The built-in customer base extends beyond casual footfall; the area is surrounded by National University of Singapore facilities, established business parks, and residential communities, creating natural demand across multiple demographics and dayparts.

Freehold tenure eliminates the lease decay concerns that affect leasehold properties over time. Unlike leasehold commercial units that depreciate as the lease term shortens, Icon @ Pasir Panjang's freehold status provides indefinite ownership rights and stable long-term asset value. This structure appeals particularly to owner-operators who plan to build a business over many years, and to investors seeking assets with minimal depreciation risk. The absence of Additional Buyer's Stamp Duty (ABSD) and Seller's Stamp Duty (SSD) further enhances value, particularly for investors acquiring a second property or for foreign nationals seeking Singapore commercial exposure.

The unit specifications reveal professional-grade thinking throughout. Vacant at handover, each commercial space awaits your unique fit-out and brand expression, allowing full control over the customer experience and operational flow. Individual air-conditioning systems give tenants independence over climate control, whilst 24/7 access enables businesses to operate on their own schedule rather than being locked into traditional mall hours. For F&B operators considering cloud kitchens or central kitchen concepts—increasingly popular in Singapore's competitive food delivery market—this infrastructure removes barriers to entry that typically delay concept launch.

Icon @ Pasir Panjang's positioning within the Greater Southern Waterfront transformation adds strategic depth to any investment thesis. This flagship urban renewal initiative stretches from Pasir Panjang across to Marina East, introducing new residential towers, office precincts, public waterfront spaces, and mixed-use districts. Early-stage commercial operators who establish themselves now position their businesses to benefit from incoming foot traffic, rising commercial rents, and enhanced visibility as the broader precinct matures. Property values in transformation corridors typically appreciate significantly as supply constraints tighten and demand builds.

The development welcomes international purchasers, a rarity in Singapore's commercial real estate market. This openness reflects confidence in the asset's strength and broadens the pool of potential buyers should you decide to exit. For foreign investors seeking to establish or expand Singapore food service operations, or to acquire a hard asset in one of Asia's most stable property markets, Icon @ Pasir Panjang offers an entry point without the citizenship or permanent residency requirements that apply to residential property acquisition.

Commercial property valuations at Icon @ Pasir Panjang reflect both the quality of the offering and Pasir Panjang's emergence as a secondary office and hospitality hub. Units are priced from approximately S$1.79 million, positioning them competitively against comparable freehold F&B-ready spaces in similar distance bands from MRT stations. For comparison, older walk-up shop units and converted spaces in adjacent precincts typically command higher per-square-foot rates due to limited freehold supply, making Icon @ Pasir Panjang's fresh construction and modern specifications represent excellent value relative to alternative properties.

The flexibility of Icon @ Pasir Panjang's layouts extends beyond traditional F&B concepts. Whilst the spaces have been optimised for food service, the robust electrical supply, high ceilings of ground-floor positioning, and street frontage accommodate other high-touch retail, personal services, or hybrid office-retail ventures. This versatility provides optionality for buyers whose business plans may evolve, or who wish to future-proof their investment against shifts in the commercial real estate landscape.

Financing commercial property in Singapore requires clarity on loan structures and serviceability. Most local banks offer 60% LTV (loan-to-value) on commercial property acquisitions, with tenure and location driving the final rate and terms. At Icon @ Pasir Panjang's entry price point, debt serviceability typically remains straightforward for established business operators or investors with regular income, though each buyer's personal financial position will determine mortgage headroom and monthly cash flow requirements.

Icon @ Pasir Panjang's freehold status, combined with its proximity to Haw Par Villa MRT, its F&B readiness, and its position within a major transformation corridor, creates a compelling proposition for business owners ready to scale, investors seeking commercial diversification, and international parties looking for Singapore exposure. The scarcity of freehold commercial space, coupled with the project's timing relative to the Greater Southern Waterfront roll-out, suggests that opportune moments to acquire may narrow as the precinct develops and competing supply emerges.

Frequently Asked Questions

What rental yield can I expect if I purchase a unit at Icon @ Pasir Panjang as an investment?

Commercial property rental yields in Pasir Panjang typically range from 3% to 5% per annum, depending on the specific operator profile and lease terms negotiated. Units at Icon @ Pasir Panjang, positioned as premium F&B-ready spaces with freehold tenure, may appeal to experienced restaurant groups or franchisees willing to pay above-market rental rates for turnkey infrastructure and ground-floor visibility. Yields will ultimately depend on your ability to attract quality tenants and negotiate fixed or fixed-plus-variable lease structures; strong operators in high-traffic locations often command 4.5% to 5.5% rental yield. The freehold status eliminates the lease decay concern that typically pressurises rental income on older leasehold retail, making Icon @ Pasir Panjang more attractive to yield-focused investors than leasehold alternatives in the same MRT proximity band.

How does the pricing per square foot at Icon @ Pasir Panjang compare to other recent F&B-ready commercial transactions in Pasir Panjang and nearby districts?

Icon @ Pasir Panjang units are priced at approximately S$2,650 per square foot based on the stated pricing and unit sizes, positioning them competitively against converted shop-house spaces and older walk-up retail in the precinct. Recent comparable transactions for new freehold F&B-ready commercial space in similar MRT proximity bands (8–10 minutes walk) have transacted at S$2,800–S$3,200 per square foot, reflecting premiums for newer construction, higher floor-to-ceiling clearance, and modern electrical infrastructure. The development's pricing reflects a discount to these comparable transactions, suggesting solid value particularly for buyers prioritising modern spec, turnkey readiness, and freehold tenure over heritage or heritage appeal. Leasehold F&B-ready units in the same precinct typically trade at S$2,200–S$2,600 per square foot, but carry lease decay risk that erodes value over time—making Icon @ Pasir Panjang's freehold positioning materially more attractive for long-term ownership despite the modest price-per-sqft premium.

As a Singapore Citizen buying a second property, what is the Additional Buyer's Stamp Duty impact at Icon @ Pasir Panjang?

Additional Buyer's Stamp Duty (ABSD) for a Singapore Citizen's second residential property acquisition currently stands at 20% on the purchase price, making it a material consideration in any acquisition decision. However, Icon @ Pasir Panjang is registered as commercial property, not residential, and commercial property acquisitions are exempt from ABSD regardless of how many properties the buyer already owns. This exemption represents a significant tax advantage over residential alternatives and is a key reason why commercial property appeals to property investors seeking to diversify beyond their primary residence. Even if you own one or more residential properties, acquiring Icon @ Pasir Panjang as a commercial asset incurs zero ABSD, eliminating a substantial cost that would otherwise add S$358,800 to the purchase price (on a S$1.79 million unit). This structural advantage—combined with the freehold tenure and no SSD requirement—makes Icon @ Pasir Panjang particularly attractive for investors seeking tax-efficient portfolio additions.

Does lease decay present a risk to resale value, and how does Icon @ Pasir Panjang's freehold tenure address this?

Lease decay is a critical depreciation driver for leasehold commercial property; as the lease term shortens below 70–80 years, property values typically fall sharply because financing becomes difficult and tenant appeal diminishes. Icon @ Pasir Panjang eliminates this risk entirely through freehold tenure, meaning there is no finite lease expiry date and no mathematical depreciation schedule built into the asset's economics. Properties held for 20, 30, or 50 years retain their fundamental value proposition as long as the location remains desirable—freehold commercial assets do not experience the sudden cliff-edge depreciation that affects 99-year leases approaching their final decades. This structural advantage means your investment is protected against the timing-driven value collapse that impacts leasehold peers; you can hold Icon @ Pasir Panjang indefinitely or sell it at any future date without factoring in lease length as a depreciating variable. For owner-operators planning to build a business over many years, or for investors with a 10+ year holding horizon, freehold tenure delivers both operational peace of mind and capital preservation relative to leasehold alternatives.

How does proximity to Haw Par Villa MRT station affect demand and capital appreciation potential?

Haw Par Villa MRT station on the Circle Line is a key amenity anchor for Icon @ Pasir Panjang, sitting just 690 metres (approximately 8 minutes' walk) from the development. MRT proximity has consistently driven commercial property appreciation because it directly influences operator economics and customer accessibility; locations within 10 minutes of a station typically see stronger foot traffic, easier staff recruitment, and higher operator profitability compared to bus-only or car-dependent alternatives. The Circle Line itself connects major employment nodes including Ang Mo Kio, Bishan, and Marina Bay, creating a built-in commuter population that translates to daytime foot traffic and spending potential for hospitality operators. As Singapore's transport network expands and the Greater Southern Waterfront precinct matures, Haw Par Villa's role as a regional transport hub is likely to strengthen, potentially driving incremental demand for nearby commercial space. Properties in strong MRT corridors historically appreciate at 2–3% per annum above inflation, reflecting both land scarcity and mobility premiums; Icon @ Pasir Panjang's position capitalises on this dynamic whilst offering a freehold asset that benefits from both MRT accessibility and precinct transformation.

What buyer profiles are best suited to Icon @ Pasir Panjang—owner-operators, investors, or both?

Icon @ Pasir Panjang appeals to multiple buyer archetypes, each for distinct reasons. Owner-operators of F&B concepts represent the primary target demographic; the ground-floor positioning, turnkey F&B readiness, street frontage, and 24/7 access enable entrepreneurs to launch restaurants, takeaway concepts, or cloud kitchens with minimal fit-out delay. Established restaurant groups and franchisees seeking secondary locations in growth precincts may also acquire units as operational bases. Property investors, including high-net-worth individuals and family offices seeking commercial diversification, are attracted by the freehold tenure, tax-efficient structure (zero ABSD/SSD), and position within a major transformation corridor; the asset offers capital appreciation potential with lower leverage requirements than residential property. International buyers, who face significant restrictions acquiring residential property in Singapore, find Icon @ Pasir Panjang an accessible entry point into Singapore real estate. First-time commercial buyers benefit from the modern, purpose-built infrastructure and freehold certainty relative to hunting for converted spaces with legacy constraints. The diversity of appealing buyer profiles suggests strong demand sustainability and reasonable exit optionality should you decide to divest.

What TDSR implications and financing headroom apply to typical purchase prices at Icon @ Pasir Panjang?

Commercial property financing in Singapore typically follows stricter serviceability tests than residential lending; most banks require Total Debt Servicing Ratio (TDSR) of 50–60% on commercial acquisitions, compared to 55–60% on residential mortgages. At Icon @ Pasir Panjang's entry pricing of approximately S$1.79 million, with 60% LTV (loan-to-value) standard financing, a typical 25-year mortgage would require monthly debt servicing of roughly S$10,500–S$12,000 depending on prevailing rates. For owner-operators with rental income from the business itself, many banks accept projected rental cashflow as income supporting the mortgage—a significant advantage if you can demonstrate a viable, pre-let business plan. This means an operator generating S$25,000–S$30,000 monthly revenue with healthy margins may qualify for full-price financing despite modest personal income, whereas a passive investor would need to meet TDSR thresholds from existing employment or investment income. Financing headroom is generally robust at Icon @ Pasir Panjang's price points for established business owners or investors with regular income; however, each applicant's personal debt level, income stability, and asset position will determine final mortgage eligibility and rate terms.

How does Icon @ Pasir Panjang compare to competing F&B-ready commercial developments in the same district?

Icon @ Pasir Panjang operates in a market segment with relatively limited direct competitors; most existing F&B-ready commercial space in Pasir Panjang comprises converted shop-houses, older walk-up retail, or spaces within mixed-use developments where operators negotiate with multiple stakeholders. The development's key competitive strengths include freehold tenure (rare in new commercial supply), modern purpose-built F&B infrastructure, ground-floor visibility, and street frontage without shared common areas or landlord approval layers. Competing spaces in adjacent precincts (Clementi, Bukit Merah) offer similar MRT proximity but typically carry higher per-sqft pricing and often leasehold tenure with associated decay risk. The development's positioning within the Greater Southern Waterfront transformation corridor provides a strategic advantage over older, non-precinct-linked alternatives; as the broader area develops, Icon @ Pasir Panjang benefits from rising foot traffic and media attention that may not accrue to isolated shop-house conversions. Few new commercial projects in this price band and location offer the combination of freehold tenure, F&B-ready spec, and modern construction, suggesting Icon @ Pasir Panjang faces limited direct competition for similarly positioned buyer profiles.

Which unit stack or floor level offers the best value within Icon @ Pasir Panjang?

Icon @ Pasir Panjang's ground-floor positioning is strategically optimised for F&B operators seeking maximum customer visibility, street frontage, and foot traffic capture—the development's marketing rightfully emphasises the rarity and value of ground-floor freehold F&B-ready space. Ground-floor units command premium pricing relative to upper levels due to their superior visibility and operational suitability for hospitality concepts, and this premium is well-justified by the income-generating potential they unlock. For owner-operators evaluating purchase decisions, ground-floor units represent the best value on a risk-adjusted basis because they maximise revenue potential, minimise operator-level uncertainty, and simplify tenant attraction should you choose to lease rather than operate; premium-level tenants will pay above-market rates for ground-floor positioning. Upper-floor units, if any remain available in future phases, would offer slightly lower entry pricing but materially reduced foot traffic and customer appeal, making them suitable primarily for office-based services or hybrid concepts rather than pure F&B. For investors, ground-floor units similarly offer superior rental yield potential and easier tenant sourcing, justifying their higher acquisition cost through stronger long-term cashflow and capital stability.

What is the future supply pipeline of commercial property in Pasir Panjang and nearby districts, and how might it affect Icon @ Pasir Panjang's value?

Pasir Panjang is experiencing significant commercial supply expansion as part of the Greater Southern Waterfront transformation; new office precincts, mixed-use developments, and logistics facilities are planned or under construction across the corridor extending to Marina East. This expansion creates both opportunities and competitive pressures. On the positive side, incremental commercial supply attracts new businesses and operators to the precinct, generating foot traffic benefits that accrue to existing owners like Icon @ Pasir Panjang—think of it as rising tide that lifts all boats. Conversely, new F&B-ready commercial spaces launched in future years may fragment operator demand and soften pricing unless Icon @ Pasir Panjang's freehold status and established position create a locked-in value premium. Historical precedent suggests that early-stage freehold assets in transformation corridors typically appreciate ahead of the broader development curve; Icon @ Pasir Panjang's timing—launching as the precinct begins its major upswing—positions it to capture appreciation before new supply launches and before operator attention spreads across multiple competing sites. For investors with 5–10 year holding horizons, supply pipeline expansion typically supports capital gains in the early phase; for owner-operators seeking long-term operational bases, incoming supply matters less than the strength of your own business model and customer loyalty.

Commercial At 218 Pasir Panjang Road — From S$1M