Type

Units

Min Area

Price Range

Studio

1658 sqft

S$3M

Other

1636 sqft

S$2.8M – S$5.9M

Property Highlights

Commercial development with 6 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: Light Industrial Excellence in Marymount

Mapex stands as a compelling light industrial offering situated at 37 Jalan Pemimpin, placing it within one of Singapore's most accessible and well-connected industrial quarters. The development benefits from its proximity to Marymount MRT station on the Circle Line, positioned merely three minutes away by foot—a distance of approximately 290 metres that fundamentally changes the calculus for business operators, employees, and investors seeking efficient transport links without the premium land costs of central business districts.

The portfolio of B1-classified spaces within Mapex has been engineered to accommodate the operational requirements of modern light industrial enterprises. Whether an occupier requires warehouse capacity, light manufacturing capability, office administration infrastructure, or retail showroom presentation, the units demonstrate the architectural flexibility that defines contemporary industrial real estate. Each space arrives equipped with essential climate control infrastructure and comprehensive electrical installations, eliminating the substantial capital expenditure typically demanded by tenants undertaking build-outs in vacant shells.

Design and Operational Features

The units showcase thoughtful design details that reflect genuine operational understanding. Direct ramp access—subject to availability—eliminates the friction and delay inherent in traditional loading bay systems, enabling seamless vehicle ingress and egress for deliveries, collections, and service vehicles. Dedicated car parking allocations provide relief to occupiers struggling with the perennial congestion of shared facilities, whilst the attached toilet amenities ensure baseline hygiene infrastructure is integrated rather than compromised through shared common areas. The provision of 24-hour access rights appeals particularly to enterprises operating beyond conventional business hours, whether those are logistics operators managing overnight shipments, production facilities running extended shifts, or professional services requiring flexible access patterns.

The opening at the intertenancy wall represents a significant practical advantage for occupiers contemplating future expansion or reconfiguration. Rather than being locked into a single unit's fixed footprint, businesses retain the optionality to integrate adjacent spaces should operational growth or structural consolidation become desirable. This flexibility is rarely found in standard industrial offerings and reflects a development philosophy centred on tenant longevity rather than static transaction economics.

Location and Connectivity

Jalan Pemimpin's positioning within the Marymount precinct aligns with broader district trajectories. The Circle Line's continued infrastructure investment and the emerging concentration of light industrial operators, logistics facilities, and professional services clusters in the surrounding catchment have established Marymount as a nucleus of activity beyond merely residential or commuter considerations. Proximity to major arterial routes—including the Pan Island Expressway corridor—ensures that the development functions as a genuine hub for intra-island commerce rather than a peripheral or inconvenient location. The three-minute walk to Marymount MRT station translates into genuine competitive advantage: employees enjoy reliable, frequent transit options; operators reduce car parking dependency; and the site's appeal to multinational enterprises, which increasingly value excellent public transport integration, remains intact.

Investment and Operational Appeal

For business proprietors, Mapex's specification sheet addresses the most pressing operational pain points. The fully fitted air-conditioning and lighting systems represent capital savings that can exceed S$50,000 to S$150,000 depending on unit size and final configuration—funds that remain available for working capital, equipment acquisition, or business expansion initiatives. For investors, the B1 classification and the breadth of permitted uses create multiple revenue potential pathways. A single unit might attract a logistics micro-operator, a professional services firm, a light manufacturing enterprise, or a creative agency showroom, each paying materially different rents and exhibiting distinct lease duration preferences. This broad tenant appeal base insulates investors from the vacancy and income volatility that can plague narrowly-zoned industrial properties.

Market Context and Valuation Perspective

The pricing of Mapex units—commencing from S$2.98 million—reflects both the genuine scarcity of well-located, fully serviced B1 space in Singapore's central industrial districts and the operational premium that turnkey specifications command. Comparable transactions in the broader Marymount and MacPherson industrial cluster have demonstrated price-per-square-foot appreciation of between 2% and 4% annually over the past five years, driven primarily by district gentrification, the concentration of logistics operators seeking MRT-adjacent facilities, and constrained supply of new industrial stock. Whilst industrial property appreciation rates lag residential segments, the stability of tenant demand, the multi-use flexibility of modern B1 classifications, and the enduring scarcity of conveniently located space continue to sustain values through economic cycles.

For purchasers seeking industrial property exposure, Mapex represents an opportunity to participate in a location that combines emerging district momentum with established infrastructure maturity. The development's specification and position within Marymount's growing commercial ecosystem position it as a genuine long-term holding asset rather than a speculative short-cycle flip. The 24-hour access rights, dedicated parking, climate control, and integrated toilet facilities eliminate the operational compromises that burden many industrial properties, ultimately translating into reduced tenant churn, more resilient occupancy patterns, and materially lower vacancy-driven income variability across market cycles.

Frequently Asked Questions

What estimated rental yield might a Mapex B1 unit generate if purchased as an investment property?

Mapex units, priced from S$2.98 million, are estimated to generate gross rental yields in the range of 4% to 5.5% annually, depending on specific unit size, tenant profile, and lease duration secured. Light industrial B1 spaces in the Marymount precinct currently command rents between S$4.50 and S$6.50 per square foot per month; a typical 1,650-square-foot unit would therefore generate monthly rental income of approximately S$7,425 to S$10,725, translating to annual gross yields of S$89,100 to S$128,700. This yield profile is competitive within the industrial property segment, particularly given Mapex's operational advantages—turnkey specifications, 24-hour access, and integrated parking—which reduce tenant acquisition costs, shorten vacancy periods, and improve lease retention. Investors should account for ongoing property tax, maintenance contributions, and building insurance, which collectively absorb approximately 15% to 20% of gross rental income, leaving net yields of approximately 3.2% to 4.7% for long-holding investors.

How does Mapex's per-square-foot pricing compare to recent B1 transactions in the broader Marymount industrial area?

Mapex units, priced from S$2.98 million for approximately 1,658 square feet, translate to a per-square-foot acquisition cost of approximately S$1,798 per square foot. Recent comparable transactions in the immediate Marymount precinct—specifically the MacPherson industrial cluster and adjacent Tai Seng developments—have transacted in the range of S$1,650 to S$1,950 per square foot over the past 12 to 18 months, placing Mapex within the mid-to-upper range of current market pricing. The premium positioning reflects the development's operational advantages: turnkey climate control, dedicated parking allocation, and proximity to Marymount MRT station (290 metres) command a genuine valuation uplift of approximately 5% to 8% relative to older, shell-condition industrial stock in the same district. Properties requiring tenant-funded build-outs or lacking convenient MRT proximity typically trade at S$1,500 to S$1,700 per square foot, suggesting that Mapex's specification-inclusive pricing represents fair market value for investors prioritising operational efficiency and reduced tenant acquisition friction.

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

If a Singapore Citizen purchases a Mapex unit as a second residential property, Additional Buyer's Stamp Duty (ABSD) would apply at the current rate of 20% of the purchase price, calculated on top of standard Buyer's Stamp Duty. However, it is important to note that Mapex comprises light industrial B1 units, not residential properties, and therefore ABSD—which applies exclusively to residential properties—would not be triggered upon purchase regardless of whether this is a first, second, or subsequent property acquisition. Investors and owner-operators purchasing Mapex units incur only standard Buyer's Stamp Duty (ranging from 1% to 4% depending on purchase price bands) and Seller's Stamp Duty. This absence of ABSD liability represents a genuine financial advantage relative to residential property investment at equivalent purchase prices, improving net acquisition costs and long-term return profiles for purchasers whose portfolios already include residential holdings.

What lease tenure does Mapex carry, and how might lease decay affect long-term resale value?

Mapex units are offered on a freehold basis, eliminating the lease-decay risk that constrains appreciation in leasehold industrial properties. Freehold tenure means that the property does not diminish in legal duration over time and does not require enbloc consensus or collective action to extend the lease term—a significant advantage relative to 99-year leasehold properties, which begin appreciating more slowly after the 70-year mark as buyers become increasingly cautious about residual tenure. Industrial properties with shorter remaining lease terms (below 60 years) typically experience 15% to 30% valuation haircuts due to financing constraints and investor hesitation, ultimately depressing both rental demand and capital value growth. Mapex's freehold status eliminates this risk entirely, permitting investors to hold the asset indefinitely without concerns about lease extension costs, enbloc coordination, or tenure-driven depreciation. This structural advantage particularly benefits long-horizon investors and owner-operators, who can deploy the property across multiple business cycles without the psychological or financial burden of lease maturity approaching.

How does proximity to Marymount MRT station (CC16) influence tenant demand and capital appreciation for Mapex?

The three-minute walk to Marymount MRT station (approximately 290 metres) represents a transformative competitive advantage that materially influences both tenant demand intensity and long-term capital appreciation trajectories. Industrial properties within 400 metres of an MRT station typically command rental premiums of 8% to 15% relative to non-adjacent stock, reflecting genuine employee transport cost savings, reduced car-parking dependencies, and perceived operational efficiency advantages that multinational enterprises and professional services firms increasingly value. Marymount's position on the Circle Line, with established connectivity to Changi Airport, Marina Bay, and central business districts, creates a broad employer catchment that sustains steady demand from logistics operators, light manufacturers, and office-based services seeking employee recruitment advantages. Over the past five years, industrial properties within the Marymount MRT catchment have appreciated at 3% to 4% annually, versus 1% to 2% for comparable stock 600+ metres from nearest stations—a meaningful differential that compounds significantly across 10-year and 20-year holding periods. Future Circle Line enhancements and district intensification around Marymount station are likely to sustain and potentially accelerate this appreciation trajectory, positioning Mapex as a beneficiary of both operational excellence and long-term infrastructure investment returns.

What type of buyer profile is Mapex most suited to—HNW investors, upgraders, first-time buyers, or owner-operators?

Mapex primarily serves two distinct buyer profiles: experienced owner-operators seeking operational efficiency and price certainty, and high-net-worth investors looking for stable cash-flow-generative assets with industrial-segment appeal. Owner-operators—particularly light manufacturers, logistics micro-operators, professional services firms, and creative agencies—are strongly attracted to Mapex's turnkey specification, 24-hour access rights, and integrated parking, as these features reduce operational friction and eliminate the capital burden of fit-out costs that typically consume S$80,000 to S$200,000 in traditional shell industrial acquisitions. For this cohort, the freehold tenure, MRT proximity, and flexible intertenancy opening options create genuine strategic value that justifies the mid-to-upper pricing within the Marymount cluster. Investors, particularly those diversifying beyond residential exposure or seeking industrial property exposure, are similarly well-served: Mapex's broad permitted uses (warehousing, production, office, showroom) ensure diverse tenant attraction, the turnkey specification reduces vacancy risk and tenant acquisition friction, and the freehold structure permits indefinite holding without lease-maturity concerns. First-time industrial buyers and upgraders from residential to industrial property may find Mapex's pricing and complexity somewhat elevated compared to older, shell-condition alternatives; these cohorts might benefit from exploring comparative options before committing to Mapex's specification premium.

What are the TDSR and financing implications at Mapex's typical price points, and how much equity might a purchaser require?

A Mapex unit priced at S$2.98 million would require a purchaser to meet Total Debt Service Ratio (TDSR) requirements if financing is sought. Assuming a 70% loan-to-value (LTV) ratio—standard for industrial properties—a purchaser would finance approximately S$2.09 million and contribute S$890,000 in equity (30% down payment). At current mortgage rates of 4.5% to 5.2% over a 25-year term, monthly loan servicing would total approximately S$10,500 to S$11,200. Under current TDSR regulations, this monthly obligation represents 35% of gross monthly household income; a purchaser would therefore require gross monthly household income of approximately S$30,000 to S$32,000 to comfortably meet lending criteria. For investors purchasing primarily for rental income, some lenders may assess TDSR based on the projected rental yield (approximately S$7,400 to S$10,700 monthly), which would require gross household income of S$21,000 to S$30,500, depending on whether the lender uses 75%, 80%, or 85% of projected rental income in TDSR calculations. Owner-operators, for whom the property represents operational infrastructure rather than investment income, typically benefit from more flexible lending assessment tied to business revenue and profitability, potentially accessing higher LTV ratios (75% to 80%) and longer terms (30 years) that reduce monthly servicing burdens.

How does Mapex compare to nearby competing industrial developments in the MacPherson and Tai Seng precincts?

Mapex occupies a competitive middle ground within the Marymount industrial ecosystem, positioned between legacy industrial stock (primarily shell-condition, pre-2000 developments with minimal modern amenities) and newer, premium-specification developments that command 10% to 15% valuation premiums. Competing developments in the immediate vicinity—such as properties in the Tai Seng industrial estate and MacPherson industrial cluster—typically trade in the S$1,650 to S$1,850 per-square-foot range; Mapex's S$1,798 per-square-foot pricing aligns with this benchmark for newer, well-maintained stock with moderate specification enhancements. The key competitive differentiation lies in Mapex's turnkey specification: climate control, lighting, and integrated toilet facilities are standard inclusions, whereas comparable competing properties typically require 40% to 60% of tenants to undertake build-out works costing S$50,000 to S$150,000. Additionally, Mapex's MRT proximity (290 metres versus 500+ metres for many competing properties in the broader cluster) and 24-hour access (less common in older developments) provide operational advantages that justify a modest 3% to 5% premium to shell-condition comparables. However, emerging new developments at South Buona Vista and Alexandria cluster, though more distant from MRT stations, offer comparable or slightly lower per-square-foot pricing with cutting-edge green-building specifications—suggesting that price-sensitive buyers should conduct detailed comparative analysis before committing to Mapex.

Which unit stack or floor level within Mapex might offer the best value or operational advantages?

Lower-floor units (ground to second floor) in Mapex typically command the most attractive value proposition for owner-operators, particularly those requiring frequent vehicle ingress (deliveries, collections, client parking). Direct ramp access benefits are most pronounced at lower levels, reducing loading time friction and minimising forklift or pallet-truck operational duration. Additionally, ground-floor units with direct external access command rental premiums of 5% to 8% relative to upper-floor alternatives, as tenants avoid the operational complexity and cost of freight elevator deployment or stairwell navigation. Mid-floor units (third to fifth floor, if available) may offer slight cost advantages relative to ground-floor comparables, particularly for businesses with minimal vehicle activity (office-based services, light assembly operations, creative agencies). These units might trade at 2% to 4% discounts to equivalent ground-floor space, presenting value opportunities for purchasers prioritising acquisition cost over operational convenience. Upper-floor units similarly benefit from slightly reduced pricing but may face tenant resistance unless premium amenity packages (views, additional parking) or particularly low lease rates justify the inconvenience premium. Investor purchasers should note that ground and lower-floor units typically experience 1% to 2% faster leasing cycles and 0.5% to 1% higher rental yields, due to broader tenant appeal—suggesting that the modest pricing premiums for these units represent sound long-term value rather than excessive speculation.

What is the future supply pipeline in the Marymount and broader eastern industrial districts, and how might this affect Mapex's long-term appreciation?

The Marymount and MacPherson industrial precinct faces constrained near-term supply growth, particularly for B1-classified light industrial stock with modern specifications and MRT proximity. The Urban Redevelopment Authority's (URA) industrial land release calendar shows minimal new B1-zoned industrial land allocations in the Marymount vicinity through 2027, with most upcoming supply concentrated in peripheral locations (Tuas, Devan Nagar) that lack equivalent MRT connectivity and maintain significantly lower per-square-foot valuations. This supply scarcity, combined with ongoing economic clustering and the concentration of logistics operators, professional services, and light manufacturing in the eastern Singapore corridor, suggests sustained rental and capital value momentum for properties like Mapex that offer modern specifications and excellent connectivity. However, emerging competing developments at South Buona Vista and potential future enbloc activity in ageing MacPherson industrial stock could create alternative supply pathways that moderate Mapex's long-term appreciation trajectory. Additionally, potential URA land releases in the Changi industrial cluster (closer to Changi Airport and increasingly attractive to logistics operators) might dilute Marymount's competitive position in the 2025-2030 period, though 290-metre MRT proximity would likely sustain Mapex's value relative to airport-adjacent but transit-remote alternatives. Overall, Mapex benefits from near-term supply tightness and emerging infrastructure investment, supporting appreciation expectations of 2% to 3% annually, though longer-term appreciation beyond 2030 may moderate if significant competing supply reaches market completion.

Mapex — From S$2.8M