Type

Units

Min Area

Price Range

Other

155000 sqft

S$13M – S$16.8M

Property Highlights

Commercial development with 2 units currently available.
Prices currently range from S$13M to S$16.8M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$2.6M on this acquisition.
Located 5 min (440 m) from EW29 Joo Koon MRT Station.

Price Trends & Rental Yield

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International Road Workshop: Premium Industrial Space Near Joo Koon

Located in the thriving International Road vicinity, this five-storey purpose-built workshop represents a flagship industrial asset designed to accommodate sophisticated manufacturing, logistics, and light assembly operations. Situated just 440 metres from Joo Koon MRT Station on the East-West Line, the development combines strategic proximity to Singapore's core transport network with operational flexibility for businesses requiring substantial floor area and robust technical infrastructure.

The facility spans approximately 155,000 square feet of gross floor area across a land plot measuring roughly 61,000 square feet. This generous proportional spread reflects optimal utilisation of the land's plot ratio, a key consideration for industrial operators seeking to maximise operational volume without compromising workspace efficiency. The corner-unit configuration delivers prominent road frontage, enhancing brand visibility and facilitating easier ingress and egress for heavy vehicles and freight movements.

Industrial Infrastructure and Technical Specifications

The workshop has been engineered with substantial electrical capacity, featuring an incoming power supply of 1,600 amperes. This high-capacity infrastructure supports energy-intensive manufacturing processes, machinery clusters, and twenty-four-hour operational schedules without constraints. The presence of multiple overhead cranes throughout the workspace enables efficient material handling, component assembly, and goods movement, reducing reliance on external logistics partners and lowering operational costs for businesses engaged in heavy manufacturing or warehouse operations.

Modern construction standards have been applied throughout the facility, ensuring compliance with contemporary workplace safety regulations, ventilation standards, and durability expectations. The integrated corporate office spaces within the same building streamline management operations, enabling supervisory oversight of shop-floor activities whilst maintaining separate, climate-controlled administrative environments. This arrangement eliminates commute fragmentation and supports seamless communication between operational and management teams.

On-Site Residential Facilities

A 40-person dormitory facility is currently integrated into the development, accommodating shift workers, visiting technicians, or transient labour requirements. This facility provides operational flexibility for businesses managing multiple shifts or requiring rapid workforce scaling during peak production cycles. The dormitory's design permits capacity expansion in 2030, enabling growth alignment with anticipated business scaling and labour market evolution. For operators managing international teams or specialist contractors, on-site residential infrastructure reduces relocation friction and improves workforce stability.

Location and Transport Accessibility

Proximity to Joo Koon MRT Station delivers significant competitive advantage for workforce recruitment and visitor access. At five minutes' walk distance, the development benefits from regular train service to Jurong East and central Singapore, widening the talent acquisition pool beyond local workers. The East-West Line's connectivity to Changi Airport and port precincts enhances logistics efficiency for import-export operations, manufacturing facilities importing raw materials, and businesses serving regional supply chains.

The International Road vicinity is firmly established as a secondary industrial cluster within Jurong, offering lower rental costs than premier zones like Jurong Port or Tanjong Penjuru, whilst retaining sufficient transport infrastructure for efficient cargo movements and staff commuting. This zone has historically attracted mixed-light manufacturing, engineering services, warehousing, and logistics operators seeking operational scale without premium location pricing.

Lease Tenure and Renewal Prospects

The current leasehold tenure expires on 16th November 2037, representing a medium-term operational window of approximately thirteen years from the present date. JTC's lease renewal policy permits eligible industrial operators to seek extensions beyond the initial expiry, with renewal terms potentially extending to 2050 or beyond, subject to JTC assessment and renewal fees. This renewal pathway provides strategic confidence for businesses planning capital-intensive upgrades or long-term operational commitments, as investment recovery horizons align with JTC's renewal practice.

Prospective operators should factor lease decay considerations into financial modelling, as properties approaching lease expiry typically command lower valuations and present refinancing constraints. However, the development's anticipated eligibility for renewal mitigates this depreciation trajectory, particularly if the acquiring operator commits to operational improvements justifying renewal approval from JTC authorities.

Investment and Operational Value Proposition

The development caters to operational owner-occupiers, industrial investors seeking long-term tenant income, or businesses requiring purpose-built facilities exceeding standard warehouse specifications. The integrated dormitory, overhead cranes, and high-voltage infrastructure represent substantial installed capital that cannot easily be replicated in conventional industrial estates, creating switching costs and operational stickiness for incumbent tenants. This asset specificity supports stable occupancy and pricing resilience during cyclical downturns.

Industrial properties in the International Road vicinity have demonstrated moderate capital appreciation aligned with broader Jurong precinct cycles, typically outperforming city-fringe industrial zones during economic expansions. However, proximity to lower-cost alternatives in more distant precincts tempers upside potential. Prospective investors should emphasise operational value capture and tenant-generated returns rather than speculative appreciation.

Regulatory and Compliance Considerations

As a JTC-regulated industrial property, the development operates within Singapore's framework for industrial land use, environmental licensing, and workplace safety standards. JTC tenancy restrictions, conversion limitations, and operational covenants apply; prospective buyers should engage legal counsel to clarify permitted end-uses, subletting policies, and renewal-approval prerequisites prior to acquisition. Businesses intending to repurpose the facility or expand beyond current operational classifications must obtain JTC formal approval, which may involve lease modification and additional fees.

Environmental compliance, particularly regarding wastewater discharge, air emissions, and hazardous material storage, requires careful attention dependent on the intended business activity. Prospective operators should conduct environmental due diligence and engage relevant regulatory agencies to confirm compliance pathways and any remediation obligations.

Frequently Asked Questions

What is the estimated rental yield if this industrial workshop is purchased as an investment property?

Rental yields on purpose-built JTC industrial properties in the International Road vicinity typically range from 3% to 5% net, depending on tenant profile, lease structure, and maintenance obligations. Premium yields accrue to properties with integrated value-added amenities—such as the on-site dormitory and overhead cranes present here—which command higher rental rates from operators requiring operational specialisation. Prospective investor-purchasers should model tenant-acquisition timelines, typical lease terms (three to five years), and operating expense ratios inclusive of utilities, maintenance, and JTC land rental obligations. The installed infrastructure reduces tenant acquisition friction, as replacements costs for equivalent cranes and electrical capacity substantially exceed rental premiums, supporting occupancy stability and reducing vacancy risk relative to generic warehouse alternatives.

How does the price per square foot of this development compare to recent transactions in the International Road industrial area?

Industrial properties in the International Road vicinity have historically traded within a range of S$100 to S$150 per square foot for standard warehouse configurations, depending on building age, technical specifications, and lease-decay proximity. This development's guide valuation of S$16.8 million across 155,000 square feet translates to approximately S$108 per square foot, positioning it competitively within this band. The presence of integrated office space, substantial dormitory facilities, and high-capacity electrical infrastructure justifies pricing at the upper end of the local range, as equivalent replacement of such amenities in secondary industrial zones would require significant capital investment. Comparable recent transactions in adjacent Jurong precincts show similar pricing for properties offering specialised operational features; generic, multi-tenant warehouse conversions typically trade at lower per-sqft benchmarks due to operational inflexibility.

What Additional Buyer's Stamp Duty (ABSD) would apply if a Singapore Citizen purchases this as a second property?

A Singapore Citizen acquiring this commercial/industrial property as a second property would be subject to Additional Buyer's Stamp Duty (ABSD) at the rate of 20% on the purchase price. For a transaction at the guide valuation of S$16.8 million, ABSD liability would total approximately S$3.36 million, in addition to standard stamp duty and legal fees. This represents a material cost component that must be incorporated into investment return modelling and financing structures. Commercial properties held as investment vehicles are subject to ABSD under current regulations; prospective purchasers should confirm their ABSD residency and ownership status with tax advisors, as specific exemptions may apply dependent on corporate entity structures or primary residential exemptions not applicable to commercial real estate.

What is the impact of lease decay on resale value given the tenure expires in 2037?

The current lease expiration date of 16th November 2037 represents approximately thirteen years of remaining tenure from the present period. Properties approaching lease expiry typically experience accelerated capital depreciation in the final decade, with monthly value erosion estimated at approximately S$102,000 based on linear depreciation models. However, this development's eligibility for JTC lease renewal—standard for industrial properties operated as operational facilities—mitigates absolute depreciation risk, as renewal approval and extension terms substantially arrest value decay. Prospective long-term owner-occupiers benefit from renewal pathways; investor-purchasers should model exit timelines and anticipated renewal fees into return calculations. Properties successfully renewed by JTC typically stabilise in value post-renewal, as the extended lease term resets the depreciation clock. Conversely, failure to secure renewal approval would result in steeper depreciation as the revised expiry date approaches.

How does proximity to Joo Koon MRT Station influence tenant demand and capital appreciation prospects?

The location's five-minute walk distance to Joo Koon MRT Station on the East-West Line significantly enhances tenant acquisition prospects by widening workforce recruitment pools across Singapore's east and central corridors. Industrial operators seeking to attract skilled technicians, supervisory staff, and logistics personnel benefit from direct rail connectivity, reducing employee commute friction and supporting retention. Capital appreciation in secondary industrial zones is moderately sensitive to MRT proximity; properties within 500-metre radius of active stations typically command 5% to 10% valuation premiums over equivalent facilities in lower-accessibility zones. Joo Koon's positioning on the East-West Line's Jurong corridor provides connectivity to Changi Airport and port facilities, enhancing appeal for import-export operators and manufacturing businesses dependent on logistics efficiency. However, this development's capital appreciation remains constrained by lease decay and competing supply in adjacent precincts; MRT proximity supports demand stability rather than speculative price acceleration.

Which buyer profiles are best suited to this development: HNW investors, upgraders, first-timers, or business operators?

This property is optimally suited to operational owner-occupiers—established manufacturing, engineering, logistics, or warehouse businesses requiring purpose-built facilities with integrated administrative and dormitory capacity. The installed infrastructure (overhead cranes, 1,600-amp electrical service, multi-storey layout) creates substantial switching costs that deter relocation once operations are embedded, supporting business continuity and operational efficiency. High-net-worth investors may find appeal in the stable, long-term tenant income potential, though yields (3% to 5% net) require disciplined operator selection and maintenance oversight. Industrial property upgrade-purchasers from smaller warehouse spaces benefit from the integrated facilities and operational scalability. First-time industrial property purchasers should be cautious, as operational management complexity and JTC regulatory compliance require specialist knowledge; professional advisors and legal counsel are essential prior to acquisition.

What are typical Total Debt Service Ratio (TDSR) and financing headroom implications at the current price point?

At a guide valuation of S$16.8 million, prospective purchasers utilising mortgage financing would encounter loan-to-value (LTV) constraints and TDSR assessment frameworks typical of commercial real estate lending. Singapore banks typically offer 60% to 70% LTV for purpose-built industrial properties with stable operational tenants; this development would support financing capacity of approximately S$10 to S$12 million, requiring equity injection of S$4.8 to S$6.8 million. TDSR calculations (assuming 30-year amortisation and prevailing interest rates of 3.5% to 4.5%) would result in monthly debt service of approximately S$47,000 to S$60,000 per loan component. Prospective owner-occupiers operating at full facility capacity should model tenant rental income or operational revenue sufficient to service debt alongside capital reserves; investors must achieve rental yields exceeding 3.5% to maintain positive cash flow after debt service, maintenance, and JTC land rental obligations. Consult mortgage advisors and tax professionals to optimise financing structures aligned with operational vs. investment intent.

What nearby competing developments offer comparable industrial space and pricing in the Joo Koon area?

The International Road and Joo Koon vicinity hosts several competing industrial facilities, including multi-tenant warehouse conversions in nearby Tanjong Penjuru (typically S$90 to S$120 per sqft) and Jurong Port precincts (commanding premiums of S$130 to S$180 per sqft due to port proximity). Standalone purpose-built workshops in the Joo Koon secondary cluster are less abundant, as most supply consists of generic warehouse space subdivided among multiple tenants, reducing direct comparability. This development's integrated dormitory, overhead crane infrastructure, and modern construction standards differentiate it from commodity warehouse competitors, justifying pricing at the higher end of the International Road band. Prospective purchasers should evaluate competing properties on operational specificity (do integrated amenities reduce capex for tenant operators?) rather than raw per-sqft metrics, as feature-rich industrial assets command pricing premiums reflecting operational value capture.

Which floor levels or unit stacks offer the best value proposition within this five-storey development?

Ground-floor and lower-level spaces within this development typically command premium pricing due to superior vehicle access, crane utilisation efficiency, and direct loading-dock functionality—essential for manufacturing operators managing inbound materials and outbound finished goods. Mid-level floors (2nd to 3rd) offer cost-effective alternatives for light assembly, component testing, or office-intensive operations less dependent on ground-level logistics. Upper floors (4th to 5th) are optimally positioned for administrative functions, staff facilities, and dormitory accommodation, reducing congestion on ground-level circulation spaces and supporting operational layout efficiency. Value-conscious operator-purchasers should prioritise mixed-level acquisition, balancing ground-floor operational intensity with mid-level flexibility and upper-level administrative consolidation. The integrated office spaces across multiple levels support this tiered operational model, enhancing overall facility utility versus single-storey warehouse competitors.

What future supply pipeline developments in the Jurong and Joo Koon district could impact this property's competitiveness?

The Jurong precinct remains subject to JTC's longer-term industrial master planning, with ongoing selective intensification of strategic clusters and gradual conversion of lower-productivity sites to mixed-use or higher-value industrial zones. Near-term supply additions in adjacent Tanjong Penjuru and Shipyard Road precincts may introduce modern warehouse alternatives, though purpose-built facilities with integrated office and dormitory infrastructure remain scarce. The East-West Line's ongoing passenger growth and Jurong Region's status as a secondary business hub support sustained demand for worker accommodation (dormitory space) and office-integrated manufacturing facilities, positioning this development favourably relative to purely commodity warehouse competitors. However, prospective investors should monitor JTC planning announcements and industrial land release schedules; large-scale new supply in adjacent zones could moderate rental growth and capital appreciation. The development's lease renewal prospect through 2050 provides operational continuity and protection against shorter-term market cyclicality, though purchase decisions should incorporate 10-year supply outlook assessments.

Commercial At International Road — From S$13M