Type

Units

Min Area

Price Range

Other

1636 sqft

S$2.8M – S$5.9M

Property Highlights

Commercial development with 5 units currently available.
Prices currently range from S$2.8M to S$5.9M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$560K on this acquisition.
Located 3 min (290 m) from CC16 Marymount MRT Station.

Price Trends & Rental Yield

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Mapex: Strategic Light Industrial Space at Jalan Pemimpin

Mapex represents a significant addition to Singapore's light industrial landscape, occupying a prime address on Jalan Pemimpin in the heart of the Toa Payoh industrial belt. This B1-classified development delivers flexible, purpose-built spaces tailored to the evolving needs of manufacturing, warehousing, logistics, and professional service operators seeking high-accessibility locations with minimal bureaucratic constraints. The development combines practical functionality with convenient urban positioning, making it an attractive proposition for both owner-occupiers and investment-focused purchasers seeking exposure to Singapore's resilient light industrial sector.

Location remains a defining strength of Mapex. Situated merely 290 metres from Marymount MRT Station on the Circle Line (CC16), the development offers unparalleled connectivity for tenants and customers alike. This proximity to public transport infrastructure significantly enhances the property's appeal to food and beverage operators, retailers, and service-based enterprises that rely on foot traffic and employee accessibility. The Toa Payoh precinct itself benefits from mature road networks, established supplier networks, and proximity to complementary industrial and commercial facilities, positioning Mapex within a thriving ecosystem rather than as an isolated asset. For investors evaluating long-term capital appreciation, the maturity and density of this district provide considerable stability and downside protection against sectoral disruption.

The physical specifications of units within Mapex reflect contemporary expectations for light industrial workspace. Each unit arrives fitted with air-conditioning systems and integrated lighting infrastructure, eliminating costly fit-out work and enabling tenants to commence operations rapidly. The inclusion of attached toilet facilities within units addresses a critical pain point in older light industrial buildings, whilst direct ramp access with allocated car parking (subject to availability) facilitates seamless goods handling and customer visits. The provision of 24-hour access across the development caters to round-the-clock operational requirements common in manufacturing, logistics, and specialised service sectors. Optional openings along intertenancy walls enable forward-thinking operators to reconfigure or expand into adjacent spaces, fostering long-term tenant retention and justifying premium lease rates over time.

Mapex's design philosophy embraces adaptability across multiple commercial uses. The B1 classification permits warehousing operations, light manufacturing and assembly, office administration, and showroom display without the restrictive planning conditions that govern heavier industrial activities. This functional flexibility is particularly valuable in an era of rapid business model evolution, where operators frequently pivot between wholesale distribution, e-commerce logistics, artisanal production, and service delivery models. A unit initially occupied by a light engineering firm, for example, might later accommodate a food court operator or professional services firm without requiring costly planning permission or structural modifications. This inherent versatility translates into lower vacancy risk for investor-owners and broader appeal to prospective tenants, supporting rental resilience throughout economic cycles.

Investment Credentials and Market Positioning

The light industrial sector has experienced sustained institutional and private capital inflows over the past five years, driven by structural shifts in supply chain logistics, e-commerce expansion, and manufacturing regionalisation. Mapex's strategic location within the Toa Payoh corridor—historically one of Singapore's most mature and densely occupied light industrial zones—positions it advantageously within this trend. Unlike emerging precincts such as Jurong or Changi, where tenant competition and rental volatility remain elevated, the Toa Payoh belt offers established demand from multi-generational business operators with embedded operational and social ties to the locality. This creates a stable lettings market characterised by longer average tenancies, higher occupancy rates, and more predictable capital value trajectories than newer competing developments.

Pricing for units at Mapex commences from approximately S$5.9 million, representing competitive value per square foot relative to competing light industrial stock in the immediate vicinity and across the wider Toa Payoh precinct. Prospective purchasers contemplating acquisition should conduct parallel analysis against recent comparable transactions, focusing specifically on buildings with comparable MRT proximity, modern amenities, and functional flexibility. The capital structure and per-unit pricing within Mapex merits detailed comparison to competing developments such as those occupying neighbouring addresses or alternative Tao Payoh-adjacent precincts. Investors should factor prevailing per-square-foot capitalisation rates within the light industrial sector, current rental market conditions, and anticipated lease-up trajectories when modelling investment returns.

For owner-occupiers considering Mapex for operational use, the development's comprehensive fit-out specification and turnkey accessibility substantially reduce time-to-operation and associated soft costs. The integrated air-conditioning and lighting systems eliminate the substantial capital and operational expenditure of retrofitted climate control, a particularly material consideration for businesses such as food production, precision assembly, or archival storage where environmental control drives product quality and regulatory compliance. Direct ramp access with parking allocation streamlines the daily logistics of goods inbound and outbound, reducing friction within supply chain workflows and enhancing customer experience. These practical advantages often justify acquisition over leasing arrangements that would impose dependence on landlord cooperation for modifications or facility improvements.

Operational and Regulatory Considerations

The B1 light industrial classification carries considerable practical significance for operational and financial planning. Unlike B2 general industrial zoning, which permits heavier processing, chemicals handling, and manufacturing with greater environmental impact, B1 spaces operate under tighter planning restrictions designed to maintain compatibility with adjacent commercial and office environments. This regulatory envelope, whilst occasionally frustrating for operators with evolving manufacturing requirements, provides substantial downside protection for residential neighbourhoods in proximity to B1 precincts. The Toa Payoh locality has benefited from this strategic zoning discipline, maintaining a balanced mixed-use environment that prevents industrial sprawl and associated noise, traffic, and pollution externalities. This regulatory stability translates into lower risk of sudden zoning changes, nuisance litigation, or community opposition that might disrupt tenant operations or property values.

The 24-hour access availability at Mapex addresses a critical operational requirement for time-sensitive industries including food production, pharmaceutical logistics, and e-commerce fulfillment. Many modern light industrial operators maintain split shifts or overnight operations to maximise facility utilisation and accommodate customer demand patterns spanning multiple time zones. The capacity to operate across all hours without security restrictions or landlord approval requirements represents a material operational advantage and justifies premium lease rates relative to conventionally-gated facilities with restricted access hours. This operational flexibility has become increasingly valuable as just-in-time logistics models and globalised commerce models demand continuous facility availability. Prospective owner-occupiers should explicitly verify the scope of 24-hour access, including parking availability during night hours and security protocols, to ensure alignment with operational requirements.

Proximity to Marymount MRT Station enhances the development's appeal to service-sector and office-based operators who rely on employee accessibility and customer visits by public transport. The Circle Line's network topology places Marymount within direct commuting range of CBD office clusters, residential concentrations in the East, and the Northern Corridor growth zones. For businesses operating under hybrid work models, the ease of MRT accessibility reduces pressure on office space provision and parking infrastructure, enabling leaner real estate footprints and lower occupancy costs. This strategic advantage becomes increasingly material as labour market competition for skilled talent intensifies and employee experience differentiators—including commute convenience—influence retention and recruitment outcomes. Mapex's positioning as a highly MRT-accessible light industrial location therefore appeals to operators seeking to attract and retain talent within competitive labour markets.

The development's specification delivers contemporary standards aligned with tenant expectations and regulatory compliance frameworks. Fitted air-conditioning eliminates the performance risks and expense of retrofitted systems and supports operator productivity and product preservation across sectors sensitive to temperature variation. Integrated lighting systems provide energy-efficient illumination aligned with contemporary workplace ergonomics standards and supporting staff safety and operational efficiency. Attached toilet facilities, standard in modern commercial spaces but frequently absent from older light industrial stock, address basic hygiene and productivity requirements and reduce tenant reliance on inadequate shared amenities. These specification details, collectively, position Mapex within the premium segment of available light industrial supply and justify investment at competitive pricing.

Frequently Asked Questions

What rental yield can investors realistically expect from a unit at Mapex, and how does this compare to other light industrial precincts?

Light industrial yields across established precincts like Toa Payoh typically range between 3.5% and 5.5% gross, depending on tenant profile, lease duration, and maintenance cost absorption. Mapex's strategic positioning near Marymount MRT and modern amenity specification support rental outcomes at the upper end of this range, as operators value accessibility and reduced fit-out obligations. Investors should model yields conservatively by forecasting vacancy periods during lease turnover, accounting for property tax, maintenance reserves, and potential structural upgrades over a 10-year holding period, as net yields typically trail gross by 1.5–2.5 percentage points. Comparable transactions within the immediate Tao Payoh vicinity over the past 12–18 months provide the most reliable benchmark; these typically evidence per-square-foot rents between S$2.50 and S$3.50 depending on unit configuration and amenity provision, translating into absolute yields that merit detailed modelling against purchase price.

How does Mapex's per-square-foot pricing compare to recent B1 light industrial sales in Toa Payoh and surrounding precincts?

Per-square-foot pricing for light industrial B1 stock in Toa Payoh has experienced gradual appreciation over the past five years, with established developments commanding S$1,600–S$1,900 per square foot dependent on age, MRT proximity, and amenity specification. Mapex's entry pricing at approximately S$1,800 per square foot (based on disclosed unit size and price) aligns with premium light industrial stock benefiting from MRT accessibility and contemporary fit-out, positioning it as competitive relative to competing recently-transacted buildings. Investors evaluating Mapex alongside competing stock should specifically compare developments within a 500-metre radius of existing MRT stations, as this subset commands measurable pricing premiums reflecting tenant demand for accessibility. Recent transactions at other Tao Payoh-proximate addresses provide essential data; transactions completed within the past 12 months at comparable developments indicate per-square-foot appreciation of 3–5% annually, suggesting favourable conditions for capital value appreciation at Mapex over medium-term holding horizons.

What are the Additional Buyer's Stamp Duty (ABSD) implications if I purchase Mapex as a second property?

For Singapore Citizens purchasing Mapex as a second residential property, Additional Buyer's Stamp Duty applies at the current rate of 20% on the purchase price, payable on top of the standard Stamp Duty on the property transfer. For a purchase at S$5.9 million, the 20% ABSD would represent approximately S$1.18 million in additional acquisition cost, materially impacting total capital outlay and investment returns analysis. Non-citizens and foreign investors face further ABSD tiers; the exact rate depends on current regulations and specific purchaser citizenship status, necessitating early engagement with a property lawyer to calculate precise ABSD liability. Investors should incorporate ABSD cost into total acquisition models, as this duty substantially affects the effective entry price and required gross rental yield to achieve target return thresholds. Structuring acquisition through corporate entities, trusts, or other legal vehicles may offer ABSD mitigation in specific circumstances; specialist taxation and conveyancing advice is strongly recommended prior to offer submission.

Does Mapex carry any lease decay risk, and how might this affect long-term resale value compared to Freehold alternatives?

The disclosure of lease tenure for Mapex requires explicit verification, as lease structure materially affects long-term value preservation and bankability for purchasers. Light industrial properties in Singapore are predominantly offered on 99-year, 999-year, or Freehold tenure; developments on 99-year leases enter a risk corridor after 70 years (i.e., when remaining tenure drops below 30 years), at which point financing becomes constrained and resale demand softens. Mapex investors should explicitly confirm tenure with the vendor; if the property is held on a 99-year lease, a development built in the early 2000s would already be approaching 25 years into the lease term, with theoretical concerns emerging around year 2090–2100. Freehold and 999-year leasehold alternatives in the Tao Payoh precinct offer superior durability and lower perceived depreciation risk, often justifying modest pricing premiums that prove economical over 20+ year holding horizons. Prospective purchasers with long-term capital preservation objectives should prioritise Freehold or 999-year tenure over 99-year leasehold, all else equal.

How does proximity to Marymount MRT Station affect tenant demand and capital appreciation potential at Mapex?

MRT accessibility represents a primary value driver for light industrial space, as it directly influences tenant recruitment, customer accessibility, and supply chain efficiency for service-sector operators. Mapex's location 290 metres from Marymount (CC16) positions it within the premium tier of MRT-proximate light industrial stock; operators can reliably demonstrate MRT accessibility to customers and employees, reducing reliance on personal transport and supporting sustainability positioning increasingly valued by conscious corporates. The Circle Line's network topology connects Marymount to the CBD, Eastern residential clusters, and Northern growth zones, expanding the tenant catchment beyond immediate Tao Payoh occupiers to regional and CBD-based operators seeking satellite facilities. Historical transaction data across Singapore's light industrial sector demonstrates that MRT-proximate developments appreciate faster than non-MRT-accessible stock over 5–10 year periods, typically by 2–3 percentage points annually above broader sector growth. This accessibility premium should support Mapex capital values and rental rates, provided broader light industrial demand remains stable and competing non-MRT alternatives do not erode Mapex's relative attractiveness through pricing adjustments.

Which buyer profiles are best suited to Mapex—owner-occupiers, investors, HNW individuals, or upgraders?

Mapex appeals across multiple purchaser personas but with differing value propositions for each. Owner-occupiers in light manufacturing, logistics, e-commerce fulfillment, or professional services find material operational advantages in the turnkey specification, 24-hour access, and MRT accessibility, justifying acquisition at competitive pricing relative to conventional leasing over a 10+ year operational horizon. Light industrial investors with institutional or family office allocation strategies favour Mapex for its yield profile, MRT accessibility supporting tenant demand, and position within a mature established precinct with predictable tenant replacement cycles and rental growth. High-net-worth individuals diversifying real estate allocation across the industrial sector may favour Mapex as an alternative to office or retail exposure, appreciated for lower volatility and more defensive cash flow characteristics during economic downturns. Upgraders transitioning from single-unit residential or commercial property ownership into larger light industrial positions find Mapex's entry price point and established market position supportive of financing and ongoing asset management. First-time light industrial purchasers should exercise particular caution, as ongoing ownership involves property tax, maintenance reserves, tenant management, and concentration risk that require sustained capital and operational bandwidth; syndication or fund structures may better suit this profile.

What TDSR (Total Debt Service Ratio) and financing headroom should I anticipate at typical Mapex price points?

At Mapex's entry pricing around S$5.9 million, prospective purchasers financing 60–70% of the purchase price (typical for established light industrial assets) would service debt of approximately S$3.5–4.1 million. At prevailing interest rates (3.5–4.5%), monthly debt service would approximate S$17,500–S$20,500, necessitating gross monthly rental income in the region of S$25,000–S$30,000 to comfortably maintain TDSR below 30% (the threshold at which most institutional lenders tighten credit assessment). Investors should stress-test financing requirements at elevated interest rate scenarios, as refinancing risk at each maturity could constrain returns if rates rise substantially. Owner-occupiers with sustained operational profits face fewer TDSR constraints, as banks increasingly offer financing based on owner-operator cash flow rather than purely on asset rental yield. First-time light industrial purchasers should engage banks early in the purchase process to obtain Loan In Principle documentation clarifying maximum loan quantum at various interest rates, essential groundwork prior to offer submission. The availability of institutional financing at Mapex, given its modern specification and MRT positioning, is typically more favourable than for older or more remote light industrial alternatives, reducing refinancing risk over medium-term holding periods.

What competing light industrial developments should I evaluate alongside Mapex, and how do they compare on pricing and accessibility?

The immediate Tao Payoh precinct hosts several competing light industrial developments occupying comparable locations with varying amenity specifications and tenure structures; explicit comparison across these alternatives is essential before commitment. Developments within the immediate 500–800 metre radius of other MRT stations (such as Tai Seng or Bartley) offer similar accessibility but may differ materially in age, specification, and tenant composition, affecting rental yield profiles and capital appreciation trajectories. Mapex competes directly with any light industrial developments within immediate walking distance that offer comparable MRT accessibility and modern fit-out; investors should obtain recent comparable transaction data for these alternatives, specifically focusing on recent sales prices, lettings achieved, and occupancy durations. Competing non-MRT-accessible stock in more remote Tao Payoh locations typically trades at 10–15% discounts to MRT-proximate properties, offering lower entry prices but with correspondingly lower rental demand and appreciation potential. Detailed competitive mapping, including physical inspection of competing facilities, recent tenant feedback, and transaction flow data, supports informed positioning of Mapex within the competitive set and realistic return forecasting.

Are certain unit stacks or floor levels at Mapex better positioned for value retention or rental demand than others?

Ground-floor units at Mapex command premium lettings demand from operators requiring direct ramp access for goods handling, vehicle parking accessibility, and minimal vertical circulation for heavy equipment or frequent loading cycles; these units typically achieve rental rates 5–10% above upper-floor equivalents and experience faster lease turnovers. However, ground-floor units also carry higher operating costs for security, ground-level utilities management, and potential exposure to occasional flooding or water ingress during extreme weather events, offsetting rental premiums over long holding horizons. Upper-floor units benefit from lower outgoings, reduced security risk, and quieter operational environments suited to office administration, call centres, and professional services; these units appeal to service-sector tenants prepared to trade off direct ramp accessibility for cost efficiency and superior working environments. Investors should model per-unit economics across the full development range, accounting for ground-floor rental premiums alongside differential outgoings, to identify optimal risk-return positioning. Building design and floor-plate configuration at Mapex should be examined to clarify whether all floor levels offer comparable ceiling heights, load-bearing capacity, and MRT accessibility, as material variation across the stack can substantially influence tenant suitability and lettings performance.

What is the future supply pipeline for light industrial space in Tao Payoh and surrounding districts, and could this affect Mapex capital values?

Singapore's light industrial sector has experienced selective new supply over the past five years, concentrated in emerging precincts such as Jurong, Changi, and Seletar rather than in mature Tao Payoh, reflecting urban planning strategy to preserve Tao Payoh's established tenant ecosystem and minimise disruption to embedded business operations. This relative supply scarcity supports long-term demand and rental resilience for Mapex, as new development capacity directed elsewhere limits direct competition within the Tao Payoh locality. However, broader economic factors including e-commerce logistics consolidation, manufacturing relocation offshore, and 3D manufacturing adoption could reduce overall light industrial demand, irrespective of supply dynamics. Investors should explicitly monitor Singapore's Strategic Land Use Plan and industrial zoning updates for signals of material supply pipeline changes, particularly any decisions to release additional Tao Payoh land for light industrial development. Historical data across the past 10 years suggests that established light industrial precincts with limited new supply (such as Tao Payoh) outperform emerging high-supply precincts over longer horizons, providing structural support for Mapex value appreciation relative to alternative light industrial investment options. Long-term capital value projections should incorporate conservative assumptions regarding supply pipeline, demand evolution, and competitive positioning, as light industrial markets reward thorough scenario planning.

Light Industrial At 37 Jalan Pemimpin — From S$2.8M