Type

Units

Min Area

Price Range

Other

2174 sqft

S$1.8M – S$2.3M

Property Highlights

Commercial development with 6 units currently available.
Prices currently range from S$1.8M to S$2.3M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$362K on this acquisition.
Located 13 min (1.06 km) from CC12 Bartley MRT Station.

Price Trends & Rental Yield

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Inspace: A Modern Industrial Sanctuary Near Bartley and Tai Seng

Inspace represents a fresh generation of light industrial real estate in Singapore's mature industrial heartland. Nestled at 24 New Industrial Road, this eight-storey development sets itself apart by combining manufacturing efficiency with lifestyle amenities rarely seen in the B1 industrial sector. The project comprises 84 individual units, each built as a single-storey foundation with the structural capacity to accommodate a mezzanine floor—a flexibility that appeals to businesses seeking scalable production or storage environments.

Location has always been the cornerstone of industrial property value, and Inspace delivers on multiple fronts. Positioned just 13 minutes from Bartley MRT Station (CC12), the development enjoys excellent public transport connectivity. The nearby Tai Seng station on the Circle Line offers an alternative route for employees and suppliers alike. Beyond rail, the site sits within a five-minute radius of three major expressways—the Pan-Island Expressway (PIE), Central Expressway (CTE), and Kallang-Paya Lebar Expressway (KPE)—creating a natural hub for logistics-dependent businesses. Commuting to Paya Lebar Central takes merely five minutes by car, whilst access to the Central Business District and Changi International Airport falls within a 15-minute window.

Modern Design Meets Practical Functionality

The architectural approach at Inspace prioritises working efficiency without sacrificing occupant wellbeing. Each unit arrives as a bare shell, allowing tenants or owner-occupiers to customise their internal layouts according to precise operational needs. Ceiling heights span approximately 3.3 metres for the main level and reach 6.3 metres where mezzanine space is installed, providing generous headroom for machinery, racking systems, and assembly lines. Private toilet facilities are integrated into every unit, eliminating the need for shared amenities and enhancing operational autonomy.

The ramp accessibility throughout the development caters to businesses requiring heavy goods movement, whilst the structural design supports various loading scenarios common in manufacturing and distribution. This practical flexibility means the development appeals equally to precision engineering firms, food processing operations, e-commerce fulfillment centres, and niche manufacturing enterprises.

Leisure and Community Amenities

Where Inspace distinguishes itself from traditional industrial parks is its commitment to tenant welfare and community building. A 25-metre lap pool provides aquatic recreation and fitness opportunities, accompanied by professional changing facilities and shower amenities. The development features a chill-out pavilion designed for informal collaboration, a grill and dine canopy for al-fresco entertaining, and outdoor fitness equipment scattered across common areas. These facilities recognise that industrial tenants are increasingly young, mobile professionals who value wellness alongside work performance.

Beyond Inspace's own offerings, the surrounding Paya Lebar corridor delivers abundant retail and dining options. NEX Shopping Mall stands just five minutes away, whilst Serangoon MRT Interchange provides a secondary transport node with access to additional shopping and hospitality venues. Heartland Mall, Breadtalk International Headquarters, Paya Lebar Square, and the Singpost Centre cluster nearby, ensuring occupants need never venture far for meals, shopping, or services.

Strategic Timing and Future Growth

The Paya Lebar precinct is experiencing significant transformation. The former Paya Lebar Air Base occupies 800 hectares—larger than entire constituencies such as Bishan or Ang Mo Kio—and has been earmarked for comprehensive redevelopment as a mixed-use hub combining residential, commercial, and recreational facilities. This long-term urban renewal programme positions the immediate surrounding area as a growth corridor, potentially boosting property values and tenant demand over the coming decade. Simultaneously, the adjacent Bidadari estate is being transformed with a new market square and residential components, bringing additional foot traffic and economic vitality to the district.

Investment and Occupancy Profile

Inspace appeals to three broad buyer cohorts. First, owner-operators within the manufacturing, engineering, or logistics sectors seeking a permanent home for their enterprise can acquire a unit outright and benefit from operational synergies with neighbouring businesses. Second, property investors viewing light industrial estates as defensive long-term holdings may acquire units for lease to established tenants, with light industrial stock historically achieving stable occupancy rates and modest but reliable rental yields. Third, occupiers seeking operational flexibility without the capital commitment of purchase can negotiate leasing arrangements directly with unit owners, creating a secondary rental market within the development.

Pricing across the portfolio generally ranges from S$2.2 million upwards, depending on unit size, floor level, and mezzanine configuration. The effective price per square foot varies with footplate dimensions and ceiling height choices, requiring individual appraisal of each unit's operational utility.

Regulatory and Practical Considerations

All units carry the B1 light industrial classification, permitting a diverse range of permitted uses including food manufacturing, precision engineering, printing, pharmaceuticals, software development studios, and e-commerce logistics. This regulatory flexibility ensures long-term demand and resilience against sectoral downturns. The development's proximity to established industrial precincts and utilities infrastructure further reduces operational friction for incoming occupants.

Financing light industrial property requires lenders comfortable with B1 classification and commercial end-use, typically resulting in loan-to-value ratios of 70-75% and competitive interest rates. Professional occupiers and established businesses generally qualify for standard commercial terms without complexity.

Conclusion

Inspace represents a thoughtful evolution of light industrial development, marrying practical operational requirements with genuine lifestyle enhancements. Its location near Bartley and Tai Seng MRT stations, combined with excellent expressway connectivity, positions it as a strategic asset for businesses valuing accessibility and supply-chain efficiency. The inclusion of recreational facilities and community spaces reflects a modern understanding that industrial occupants are professionals deserving environments that support both productivity and wellbeing. Against a backdrop of future urban transformation in the Paya Lebar precinct and constrained new industrial supply elsewhere in Singapore, Inspace offers both operational utility and long-term investment merit.

Frequently Asked Questions

What rental yield might an investor expect from purchasing a unit at Inspace?

Light industrial B1 stock in mature Singapore precincts typically generates gross rental yields of 4–6% per annum, with Paya Lebar and Bartley corridor assets at the higher end owing to strong tenant demand from logistics, engineering, and manufacturing sectors. At an entry price of approximately S$2.2 million, a unit rented to a creditworthy tenant at market rates would likely produce annual rental income of S$88,000–S$132,000, equivalent to a 4–6% gross yield. Net yields after maintenance, property tax, and building upkeep would fall 1.5–2 percentage points lower. The Paya Lebar precinct's scheduled transformation and the Bidadari redevelopment nearby may support above-inflation rental growth over the next decade, potentially improving yield expansion for patient investors.

How does Inspace's asking price per square foot compare to recent B1 transactions in the Bartley–Paya Lebar area?

Light industrial transactions in the Paya Lebar–Bartley corridor typically range between S$800 and S$1,100 per square foot, depending on unit size, ceiling height, facility condition, and exact location within the precinct. At Inspace, units averaging 2,411 sqft priced from S$2.2 million equate to approximately S$912 per square foot—positioning the development squarely within or slightly below recent market comparables for new, purpose-built facilities with integrated amenities. The inclusion of recreational facilities, private toilet amenities, and structural flexibility for mezzanine installation generally justifies pricing at the mid-to-upper end of the local range. Comparable older or smaller units in the immediate vicinity may trade at S$750–S$900 per sqft, whilst newly completed B1 stock with modern finishes and collaborative spaces commands premiums toward S$1,000–S$1,100 per sqft.

Are there Additional Buyer's Stamp Duty implications for a Singapore Citizen purchasing Inspace as a second residential property?

Additional Buyer's Stamp Duty (ABSD) applies only to residential property purchases, not to commercial or industrial properties classified as B1. Since Inspace units are licensed for industrial use under the B1 classification, they fall outside the ABSD framework entirely, regardless of whether a buyer already owns a residential property elsewhere. This distinction makes light industrial investment particularly attractive for buyers already holding residential homes, as there is no ABSD penalty on a B1 industrial acquisition. However, should a buyer attempt to convert a unit to residential use—which would be unauthorised under planning regulations—such a change would trigger retrospective ABSD and other regulatory consequences. Buyers must therefore use Inspace units strictly for permitted B1 purposes, which include light manufacturing, engineering, food processing, printing, and similar industrial activities.

What is the lease tenure at Inspace, and how might lease decay affect long-term resale value?

Inspace units are offered on a freehold basis, meaning there is no fixed lease expiry date and no depreciation of property value owing to lease decay over time. Freehold ownership is the most advantageous tenure structure for long-term industrial investment, as it eliminates refinancing friction, supports stable capital values, and removes the need for costly collective lease renewal exercises common in leasehold developments. Unlike 99-year leasehold industrial estates where values typically compress in the final 20–30 years of the lease term, freehold Inspace units retain intrinsic value indefinitely. This tenure advantage is particularly significant for investors intending to hold assets for 15+ years or pass holdings to heirs, as there are no diminishing-lease concerns that plague leasehold portfolios approaching lease expiry. The freehold structure also simplifies financing and attracts a broader pool of occupier tenants, many of whom prefer freehold premises for permanent operational bases.

How does proximity to Bartley and Tai Seng MRT stations influence tenant demand and capital appreciation at Inspace?

MRT proximity remains a primary driver of demand for light industrial real estate, as it directly affects employee commuting times, visitor access, and occupier recruitment capability. Inspace's 13-minute journey to Bartley (CC12) and nearby Tai Seng station on the Circle Line places the development within the optimal range for urban industrial tenants seeking to attract talent without requiring intensive parking infrastructure. Employees with reliable public transport access are more likely to accept roles at distant industrial locations, reducing occupier recruitment friction. Furthermore, MRT connectivity enhances property liquidity; units near major stations attract wider pools of potential tenants and buyers, supporting faster leasing cycles and firmer resale pricing. Capital appreciation in industrial stock typically correlates with transport upgrades and MRT line extensions, both of which strengthen over time. The Circle Line's maturity and Bartley's position as a major interchange node suggest stable, long-term commuter flows that support sustained occupancy and modest annual capital growth aligned with Singapore's medium-term GDP trajectory.

Which buyer profiles are best suited to Inspace—owner-occupiers, investors, or both?

Inspace serves multiple buyer archetypes effectively. Owner-operators in manufacturing, engineering, logistics, or niche food processing benefit from acquiring a freehold operational base with integrated tenant networking opportunities and modern amenities that reduce staff turnover in industrial roles. High-net-worth individuals seeking diversified asset portfolios view light industrial real estate as a counter-cyclical holding: whilst residential property fluctuates sharply, B1 stock provides steady, uncorrelated returns reflecting actual occupier demand rather than speculative sentiment. Upgrading industrial tenants already occupying older estates in the Bartley corridor may purchase at Inspace to consolidate operations, downsize, or relocate to purpose-built facilities with superior logistics infrastructure. Finally, yield-focused property investors appreciate the 4–6% gross returns, freehold tenure, and operational resilience of B1 stock, particularly in high-demand precincts like Paya Lebar where supply is constrained and competing new industrial stock is scarce. Each profile finds distinct value in Inspace's location, design, and amenity package.

What Total Debt Service Ratio (TDSR) and financing headroom should a buyer expect when purchasing Inspace at typical price points?

Commercial property financing for B1 industrial units typically operates under TDSR guidelines permitting debt servicing up to 60% of a buyer's gross monthly income, compared to 55% for residential mortgages. At an entry price of S$2.2 million with a standard 75% loan-to-value ratio, a buyer would borrow approximately S$1.65 million and require monthly servicing of roughly S$8,000–S$9,000 at prevailing commercial interest rates of 3.5–4.2%. This implies a minimum annual gross income requirement of approximately S$1.6–S$1.8 million, or S$133,000–S$150,000 monthly, to comfortably meet TDSR thresholds. For owner-occupiers or investors with stable operational cash flows, refinancing headroom is typically available once the unit generates leasing income, allowing cross-collateralisation of industrial assets and residential properties. Banks increasingly view B1 industrial portfolios favourably for portfolio lending, enabling syndicated financing across multiple units at improved rates. Buyers should engage commercial mortgage brokers early to stress-test affordability against interest rate rises and occupancy scenarios.

How does Inspace compare to competing B1 industrial developments nearby, such as Tai Seng or other Paya Lebar precinct stock?

The Paya Lebar–Bartley industrial corridor includes several established B1 parks, many of which were completed 10–20 years ago and now command lower per-square-foot pricing but offer fewer amenities and less flexible design. Older estates typically lack integrated recreational facilities, modern building systems, or mezzanine flexibility, making them less attractive to knowledge-based manufacturing and tech-adjacent tenants. Inspace differentiates through its new construction, integrated 25-metre swimming pool, outdoor fitness infrastructure, and collaborative spaces—amenities that appeal to modern industrial occupiers seeking to attract and retain young, mobile workforces. The freehold tenure is also a competitive advantage, as many neighbouring developments operate on 99-year leasehold structures approaching mid-life or beyond. Competing newer B1 stock in the immediate vicinity is limited, giving Inspace a first-mover advantage in capturing quality-conscious tenants upgrading from ageing premises. However, pricing reflects this premium positioning: Inspace trades modestly above secondary-market comparables but below newly completed flagship developments in prime precincts like Tuas or Jurong. Investors must weigh the amenity premium against occupier willingness-to-pay in rental markets, where B1 tenant budgets remain constrained.

Which unit stack or floor level at Inspace typically offers the best value for owner-occupiers or investors?

In multi-storey light industrial developments, middle floors (typically levels 2–5) often offer superior value propositions compared to ground and upper levels. Ground-floor units command price premiums for direct loading-bay access and minimal materials-handling friction, but attract associated noise and vehicle traffic; upper floors face longer lead times for receiving inventory and require more intensive forklift or elevator usage, justifying modest discounts. Mid-floor placements balance accessibility with operational efficiency, whilst avoiding ground-level disruption and the lift queuing inefficiencies of very high levels. Ceiling height is equally critical: units with the full 6.3-metre profile and approved mezzanine structures typically resell faster and command rental premiums of 8–15% over single-storey 3.3-metre configurations, as mezzanine adds 40–50% gross usable area without land-lease proportionality costs. First-time industrial buyers should prioritise mezzanine-capable units on floors 2–4 in developments with reliable lift capacity and service corridors; these combinations historically show lowest vacancy, highest rental growth, and strongest capital appreciation. Upper-floor units (6–8) suit light-assembly or professional-services occupiers indifferent to goods movement, where cheaper space justifies longer access times.

What future supply pipeline for B1 industrial stock exists in the Paya Lebar–Bartley district over the next 5–10 years?

The Paya Lebar precinct's urban renewal, anchored by the 800-hectare Paya Lebar Air Base transformation, will substantially reshape the district's character over the next decade. Whilst masterplanning emphasises mixed-use residential, commercial, and recreational development, significant portions of the former air base and surrounding industrial land may be reclassified away from pure manufacturing toward logistics hubs, data centres, or advanced manufacturing facilities. This zoning shift could reduce absolute B1 supply in the immediate Bartley–Tai Seng corridor, as land becomes more valuable for mixed-use or tech-intensive uses. However, the redevelopment will simultaneously boost occupier density and employment in the precinct, increasing absolute demand for light industrial support services and niche manufacturing. New industrial stock in the Paya Lebar precinct over the next 5–10 years is likely to be constrained relative to residential and commercial supply, suggesting that established developments like Inspace may experience reduced competitive pressure and stable rental yields. Planning applications and Urban Redevelopment Authority announcements should be monitored closely, as major zoning changes could unlock significant value (or detract from it, depending on direction) for existing industrial assets. Investors should view Inspace as well-positioned ahead of any scarcity premium driven by limited new B1 completions in the district.

Light Industrial At New Industrial Road — From S$1.8M