Type

Units

Min Area

Price Range

Other

1615 sqft

S$2.3M – S$2.9M

Property Highlights

Commercial development with 5 units currently available.
Prices currently range from S$2.3M to S$2.9M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$460K on this acquisition.
Located 16 min (1.37 km) from CC12 Bartley MRT Station.

Price Trends & Rental Yield

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Space Nova: Modern Light Industrial Real Estate on New Industrial Road

Space Nova represents a contemporary light industrial offering positioned within one of Singapore's well-established manufacturing and logistics precincts. Located at 21 New Industrial Road, this development delivers purpose-built B1 classification workspace designed to accommodate small to medium-sized enterprises, artisanal manufacturers, technology firms requiring operational space, and professional service providers seeking industrial or hybrid working environments. The project caters to a broad spectrum of commercial operators seeking flexibility, functionality, and strategic location without the premium price point typically associated with prime office districts.

Location and Connectivity

Situated on New Industrial Road, Space Nova benefits from proximity to Bartley MRT Station (CC12), which lies approximately 1.37 kilometres away—roughly a 16-minute journey on foot or a short taxi ride. This connectivity positioning proves particularly advantageous for businesses requiring regular staff circulation, client visits, and supply chain logistics coordination. The Circle Line station serves as a critical transport spine linking the development to broader employment and commercial hubs across the island, effectively reducing commute friction for both permanent and visiting personnel.

The surrounding industrial landscape encompasses established manufacturing facilities, logistics operations, and complementary service providers, creating a mature business ecosystem. Proximity to other industrial parks and the broader Bartley precinct enhances operational synergies for occupiers engaged in light manufacturing, design studios, technology assembly, food and beverage processing, and similar B1-classified activities. The district's development trajectory suggests continued commercial vitality, with existing infrastructure and regulatory frameworks supporting ongoing industrial operations.

Property Classification and Operational Suitability

As a B1 light industrial property, Space Nova units carry zoning certification permitting manufacturing, assembly, processing, and service operations with minimal environmental impact. This classification provides considerably greater operational freedom than traditional office space, permitting activities ranging from technology manufacturing and prototyping through to creative production, specialised craft operations, and light processing activities. The 1,615 sqft floor plate delivers sufficient depth and width for flexible space planning, accommodating everything from open production floors through to partitioned office-cum-workshop configurations.

The B1 designation eliminates noise and pollution restrictions that might constrain residential or prime commercial precincts, enabling businesses requiring mechanical systems, testing equipment, or materials handling to operate without the compliance burden associated with heavier industrial classifications. This positioning makes Space Nova particularly appealing to emerging manufacturers, technology firms scaling production capabilities, and service providers requiring combined office and operational space within a single, coherent footprint.

Investment Profile and Market Positioning

Space Nova enters a specialist industrial real estate market segment characterised by steady demand from owner-operators seeking to purchase rather than lease, as well as institutional and high-net-worth investors diversifying beyond residential property. The development's entry pricing from approximately S$2.3 million per unit positions it within reach of small business owners building equity in operational premises, whilst simultaneously attracting portfolio investors seeking yield diversification through light industrial real estate. Unlike residential property, industrial workspace attracts less speculative purchasing activity, instead drawing committed long-term operators and investors with genuine occupancy or yield intentions.

The light industrial sector has demonstrated resilience across economic cycles, supported by Singapore's positioning as a global manufacturing and logistics hub. Businesses requiring operational space tend to demonstrate longer tenure within premises than office tenants, reducing turnover risk and providing stability to ownership propositions. The development benefits from this underlying occupier stability, particularly as Singapore's advanced manufacturing initiatives and technology sector expansion drive ongoing demand for controlled, purpose-built workspace.

Space Planning and Layout Considerations

The 1,615 sqft module delivers practical depth for manufacturing and operational workflows, with dimensions supporting both linear production layouts and open flexible configurations. Units accommodate ground-floor positioning suitable for goods handling, internal movement of materials, and direct loading access—critical functional requirements for light industrial occupiers. The standardised floor plate enables occupiers to scale operations by combining adjacent units if expansion requirements emerge, or conversely subdividing larger areas if the operational brief evolves.

Ceiling heights, loading provisions, and utility infrastructure engineering within Space Nova have been conceived around light industrial functionality rather than standard commercial specifications. This purposeful design approach translates to lower operating costs for occupiers, as environmental conditioning, power distribution, and access provisions align directly with manufacturing and operational requirements rather than office-standard overspecification.

Comparative Market Context

The industrial property market across the Bartley and adjacent precincts has experienced steady capital appreciation, reflecting sustained demand from both owner-operators and investors. Recent transactions in comparable B1 light industrial properties within the broader New Industrial Road precinct and surrounding areas suggest pricing that reflects both location fundamentals and facility specifications. Space Nova's pricing trajectory should be evaluated against recent psf (price per square foot) comparables within the immediate district, with particular attention to recent sales of similar-specification B1 units and their respective capital appreciation since acquisition.

Investors examining Space Nova should benchmark against rental yields achievable through leasing equivalent space to creditworthy occupiers, comparing potential income returns against acquisition and holding costs. Light industrial property generally attracts tenant quality and lease security exceeding typical office or retail segments, supporting yield stability across business cycles. The proximity to Bartley MRT Station and the broader industrial cluster positioning should factor positively into both capital appreciation potential and leasing demand fundamentals.

Forward-Looking Development Dynamics

Singapore's broader industrial real estate pipeline suggests continued transformation within older industrial precincts, including the Bartley area, with progressive upgrading of facilities alongside selective intensification of land use. However, the regulatory framework protecting industrial zoning means that light industrial land remains reserved for operational use, limiting conversion risk to alternative uses. This protection provides investors with confidence that the B1 classification and underlying property functionality will remain stable across holding periods, supporting both occupier demand and resale positioning.

Space Nova's positioning within this protected industrial landscape, combined with MRT connectivity and established business ecosystem, suggests durable medium to long-term demand from both occupiers and investors. The development appeals to owner-operators seeking to capitalise on equity appreciation whilst conducting operations, as well as financial investors viewing light industrial real estate as a differentiated property asset class offering yield and capital growth without the volatility or speculative dynamics associated with residential property markets.

Frequently Asked Questions

What rental yield can I expect if I purchase a Space Nova unit as an investment property?

Light industrial B1 property in the Bartley precinct typically achieves rental yields ranging from 4% to 6% per annum, depending on specific unit specifications, tenant quality, and lease terms negotiated. Space Nova units at approximately S$2.3 million would target monthly rentals of S$8,000 to S$12,000 to occupiers requiring dedicated manufacturing or operational workspace, translating to gross yields in the 4% to 6% range before accounting for maintenance, property tax, and vacancy provisions. Yields within this spectrum reflect the stability and lower tenant turnover characteristic of light industrial property, where occupiers typically occupy premises for extended periods and demonstrate strong payment discipline compared to office or retail tenants. Actual yield realisation depends on marketing the property effectively to creditworthy occupiers and negotiating rental terms reflective of current market conditions, as well as selecting floor levels and configurations with strong appeal to the target occupier market.

How does Space Nova's pricing compare to recent psf transactions in the New Industrial Road area?

Space Nova units at S$2.3 million across 1,615 sqft equate to approximately S$1,424 per square foot, positioning the development competitively within recent B1 light industrial transactions across the Bartley precinct and broader New Industrial Road corridor. Recent comparable sales of similar-specification light industrial property in adjacent precincts have demonstrated pricing ranging from approximately S$1,200 to S$1,600 psf, depending on unit condition, tenant occupancy, remaining lease tenure, and specific operational suitability to buyer requirements. The Space Nova pricing reflects market conditions prevailing at the time of launch, with actual achieved prices varying based on buyer negotiation, market timing, and individual unit characteristics such as floor level, orientation, and loading access provisions. Prospective purchasers should conduct detailed comparisons against contemporaneous sales within the immediate precinct to establish whether Space Nova represents value relative to alternative light industrial opportunities available in the same location and price band.

What are the Additional Buyer's Stamp Duty implications for purchasing Space Nova as a second property?

If purchasing Space Nova as a second residential property, a Singapore Citizen would be liable for Additional Buyer's Stamp Duty (ABSD) at the current rate of 20% on the purchase price—a significant cost consideration requiring careful financial planning. For a S$2.3 million purchase, ABSD would add S$460,000 to total acquisition costs, materially increasing the effective entry price and impacting return on investment calculations. This 20% ABSD applies in addition to standard Buyer's Stamp Duty and other transactional costs such as legal fees and surveyor charges, collectively potentially adding 25% or more to the base acquisition price depending on professional fees and mortgage-related costs. Prospective second-property buyers should factor this 20% ABSD into financing arrangements and investment return modelling, as the substantial additional outlay directly reduces available equity and modifies both leverage ratios and yield calculations across the expected holding period.

Does Space Nova carry lease decay risk, and how might this affect resale value?

Space Nova units are offered on a freehold basis, meaning they are not subject to lease expiration or the gradual erosion of property value that characterises 99-year and 999-year leasehold interests. This freehold structure eliminates lease decay risk entirely, providing purchasers with indefinite tenure and protecting resale value from the progressive diminution that affects leasehold properties as lease duration contracts below 100 years remaining. The absence of lease decay risk is a material advantage relative to leasehold industrial properties, particularly for long-term investors or owner-operators intending to hold assets for extended periods without concern for lease length implications affecting future marketability. Freehold status also simplifies financing, as lenders typically offer more favourable loan-to-value ratios and terms for freehold property compared to leasehold, enhancing leverage flexibility for prospective purchasers.

How does proximity to Bartley MRT Station (CC12) affect demand and capital appreciation potential?

Bartley MRT Station sits approximately 1.37 kilometres from Space Nova, positioning the development within immediate walking distance of a major transport node and enhancing accessibility for both occupiers and potential purchasers. The Circle Line connectivity provides direct linkage to central business districts, creating inherent demand from businesses seeking to balance operational space requirements with staff commute convenience, and from investors targeting properties with strong transport accessibility. Transport proximity typically correlates positively with capital appreciation, as properties within walking distance of MRT stations command pricing premiums relative to equivalent properties requiring vehicular or long-distance transport access. The Bartley MRT Station positioning should support sustained demand for Space Nova units from both occupier and investor cohorts, as transport accessibility reduces operational friction for businesses and enhances asset liquidity for sellers seeking to exit investments. Over medium to long-term holding horizons, proximity to established MRT infrastructure typically delivers capital appreciation outperformance relative to equivalent properties in less accessible locations.

Which buyer profiles—HNW investors, upgraders, first-timers, owner-operators—would Space Nova suit best?

Space Nova primarily appeals to two distinct buyer cohorts: owner-operators and professional investors. Owner-operators—small business proprietors requiring dedicated manufacturing, assembly, or operational workspace—represent the core occupier market, seeking to build equity in purpose-built facilities whilst conducting their own enterprises across the 1,615 sqft floor plate. This cohort typically operates with 10-20 year investment horizons and prioritises operational suitability and cost-efficiency over pure capital appreciation dynamics. Professional investors, including high-net-worth individuals and portfolio managers diversifying beyond residential property, constitute the secondary market, attracted by light industrial property's yield stability, tenant quality, and reduced speculative volatility compared to residential sectors. First-time property purchasers and upgraders would find limited relevance in Space Nova, as light industrial property operates within a specialist market segment distinct from residential property ladders, and requires understanding of occupier dynamics, leasing practices, and industrial real estate risk factors beyond typical residential buyer experience. HNW investors seeking portfolio diversification and alternative asset class exposure represent an appropriate audience, particularly those with prior industrial property experience or access to specialised advisory support.

What TDSR and financing headroom constraints might apply at Space Nova's typical price points?

At Space Nova's entry pricing around S$2.3 million, mortgage financing typically targets 70% to 80% loan-to-value ratios for owner-occupiers and 60% to 70% for investor purchasers, translating to loan quantum of S$1.6 million to S$1.84 million on an owner-occupier basis. Using current mortgage rates of approximately 4% to 4.5% per annum, monthly debt servicing would approximate S$7,600 to S$9,200, requiring monthly household income of approximately S$19,000 to S$23,000 to comfortably satisfy typical debt-to-service ratios of 35% to 40% applied by Singapore's banking sector. Purchasers with primary income sources from employment or business operations should ensure their documented income and credit profile support debt servicing across the anticipated 25-30 year mortgage term, as industrial property financing requirements do not differ materially from residential property despite the commercial classification. Investor purchasers pursuing rental yield models should verify that projected rental income, combined with other household income, produces adequate debt servicing capacity and maintains reasonable leverage, ensuring that the investment remains serviceable across potential rental market softness or interest rate increases.

How do nearby competing light industrial developments compare to Space Nova?

The Bartley precinct and broader New Industrial Road corridor host several competing light industrial developments offering similar B1 classification property, including both newer purpose-built facilities and converted older industrial structures. Competing developments typically present similar pricing per square foot—ranging from approximately S$1,200 to S$1,600 psf—with pricing variation reflecting facility age, condition, floor level, tenant occupancy status, and proximity to transport infrastructure. Space Nova's positioning relative to competitors should be evaluated based on building condition and maintenance standards, unit layout flexibility, loading and access provisions, tenant quality if occupied, remaining lease duration for leasehold comparables, and specific proximity to Bartley MRT Station compared to alternative precincts. Recent competing developments may offer marginally newer construction or enhanced facilities, whilst older established competitors might offer lower absolute pricing or existing tenant occupancy generating immediate income. Prospective purchasers should conduct detailed comparative inspections and financial modelling across multiple sites within the immediate area to establish whether Space Nova's specifications, pricing, and location positioning deliver superior value relative to other light industrial opportunities available in the same market segment.

Are particular unit stack positions or floor levels within Space Nova more advantageous for value?

Ground-floor units within Space Nova typically command the greatest operational utility for light industrial occupiers, as direct loading access, materials handling ease, and convenient goods circulation provide material operational advantages for manufacturing, assembly, and logistics-oriented businesses. Ground-floor positioning typically supports premium pricing relative to elevated floors, as the operational functionality justifies higher acquisition costs and appeals more broadly to the core owner-operator market seeking practical workspace. Mid-level floors (second to third storey) often present optimal value propositions for investor purchasers prioritising yield, as these positions maintain reasonable accessibility and functionality for operational users whilst trading at modest discounts relative to ground floors, producing superior yield on invested capital. Higher floors may present challenges for light industrial occupiers requiring regular materials handling or vehicle access, though they may suit technology firms, design studios, or office-based professional services with lighter operational requirements. Savvy investor purchasers should assess unit stack positions in relation to anticipated occupier demand, evaluating whether premium ground-floor pricing aligns with expected rental uplift or whether mid-level units deliver superior risk-adjusted returns.

What future supply pipeline exists in the Bartley district, and how might this affect Space Nova's value appreciation?

The Bartley industrial precinct operates within a mature, largely built-out landscape where significant new industrial supply is constrained by land scarcity and competing uses for available development sites. Singapore's broader industrial real estate policy emphasises retention of existing industrial zoning and selective intensification of existing precincts rather than expansion into new areas, meaning that new light industrial supply within the immediate Bartley vicinity is likely to remain limited. However, progressive upgrading and intensification within the existing precinct—including potential conversion of older structures to higher-specification facilities—represents an ongoing dynamic that may introduce competing product to the market. Space Nova's positioning within this constrained supply environment suggests supportive fundamentals for capital appreciation, as limited new supply entrant competing against growing national manufacturing and logistics demand should support pricing resilience. Prospective purchasers should monitor planning announcements and development pipelines within the broader Bartley area to assess whether significant new competing supply may emerge, though regulatory commitment to industrial land preservation suggests that wholesale precinct disruption is unlikely over typical 15-25 year investment horizons.

Light Industrial At New Industrial Road — From S$2.3M