Type

Units

Min Area

Price Range

Other

6000 sqft

S$30,000/mo – S$83,600/mo

Property Highlights

Commercial development with 3 units currently available.
Prices currently range from S$30,000 to S$83,600.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$6,000 on this acquisition.

Price Trends & Rental Yield

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Motor Image (Subaru): Premium Industrial and Office Space in Toa Payoh

Motor Image (Subaru) at 19 Lorong 8 Toa Payoh represents a distinctive commercial opportunity within one of Singapore's most established industrial microdistricts. This development offers a rare combination of large-scale ground-floor storage capacity paired with a thoughtfully configured office suite, making it exceptionally versatile for businesses requiring both operational and administrative infrastructure under a single roof.

Strategic Location and Accessibility

The property sits at a critical juncture within the Toa Payoh industrial estate, a precinct renowned for its dense concentration of manufacturing, logistics and technology enterprises. Its position affords immediate connectivity to Singapore's primary expressway network, enabling seamless distribution and supply-chain operations. The proximity to both Toa Payoh and Braddell MRT stations substantially enhances staff commuting efficiency, reducing reliance on private transport and supporting sustainable workplace practices that increasingly appeal to multinational corporations and growing technology firms.

Lorong 8 itself has witnessed gradual modernisation over the past decade, with older industrial structures progressively replaced by higher-specification facilities that attract more sophisticated commercial tenants. This evolutionary trajectory suggests the immediate precinct will continue to command premium rental rates as supply of contemporary space remains constrained relative to demand from businesses seeking operational scalability.

Space Configuration and Operational Flexibility

The approximately 6,000 square-foot footprint divides into two distinct functional zones, each engineered to serve different operational demands. The ground level functions as an expansive warehouse and vehicle storage zone, accommodating showroom support activities, inventory management, automotive service preparation or raw materials handling with minimal structural constraints. This uninterrupted open floor plan eliminates compartmentalisation that would otherwise fragment workflow efficiency or reduce storage density.

The Level 2 office component has been professionally fitted to commercial standards, incorporating two dedicated meeting or director-grade rooms suitable for client presentations and executive discussions. A separate training or boardroom facility enables in-house staff development programmes and training delivery without requiring external venue hire. Integrated pantry infrastructure supports day-to-day operational convenience, whilst the broader workspace accommodates flexible administrative functions including finance, human resources, procurement and customer relationship management roles.

Approved Commercial Uses and Industry Suitability

Regulatory approval extends across a comprehensive range of B1 industrial classifications, positioning the space as genuinely multi-purpose. Automotive-focused businesses benefit from dedicated vehicle handling and display capability, whilst the office environment supports back-office functions, spare-parts inventory and customer service operations. Technology, software development and telecommunications enterprises leverage the flexible workspace configuration for modular team structures and collaborative development environments.

E-commerce and digital-native businesses increasingly migrate to industrial estates to consolidate fulfillment, customer service and administrative functions in proximity to distribution networks. Research and development operations, particularly those requiring prototype testing, component assembly or quality assurance staging, find the 6,000-square-foot format economically efficient. Training providers, educational technology companies and corporate training divisions benefit from the dedicated boardroom facility and room partitioning flexibility to create breakout spaces and assessment environments.

Rental Value Dynamics and Market Position

The Toa Payoh industrial estate continues to command premium per-square-foot rental rates compared to peripheral estates in Jurong East or Changi, primarily attributable to superior transport connectivity and proximity to central business corridors. Units of this specification and size typically rent from S$30,000 monthly upwards, depending on specific floor-level positioning, building specification standards and the degree of office finishing quality. Businesses prepared to commit to multi-year leases generally secure more favourable per-square-foot rates, whilst shorter-term arrangements attract flexibility premiums.

The dual-zone configuration—warehouse plus finished office—commands a rental premium compared to single-purpose industrial spaces, as it eliminates tenant requirements to secure ancillary accommodation elsewhere for administrative functions. This integrated model reduces operational complexity and improves profitability for growth-stage companies during capital-intensive expansion phases when external office costs directly diminish net earnings.

Infrastructure and Building Standards

The development incorporates standard industrial-estate parking provisions, with dedicated bays supporting visitor vehicle parking, staff convenience and guest accommodation. Utilities infrastructure—electrical distribution, water supply and waste management—meets contemporary commercial standards, reducing tenant requirements for costly facility upgrades. Loading bay access and vehicle circulation routes facilitate efficient goods receipt and despatch operations without creating traffic congestion or safety conflicts with office staff movement.

Climate-controlled environments and ventilation systems are appropriately specified for industrial and office hybrid use, preventing temperature or humidity fluctuations that would otherwise compromise sensitive equipment storage or degrade product integrity during extended warehousing periods.

Investment and Operational Economics

For owner-operators, the Toa Payoh location presents an exceptionally pragmatic choice, consolidating operational and administrative requirements in a single lease, thereby minimising management complexity and rental expense diversity. Lease terms are typically negotiated on three to five-year bases, providing medium-term certainty for businesses undergoing expansion or consolidation phases.

The industrial estate's sustained demand from multinational logistics providers, regional technology hubs and growing Singapore-headquartered enterprises ensures consistent occupancy and rental rate stability. Toa Payoh has demonstrated resilience through multiple economic cycles, avoiding the severe rental depreciation observed in less-connected peripheral estates during demand contractions.

Proximity to Transport and Commercial Hubs

The dual MRT connectivity—Toa Payoh and Braddell stations—positions the development within a broader commercial ecosystem encompassing healthcare, retail, education and financial services clusters. The Singapore Science Park and technology campuses lie within five kilometres, creating natural tenant concentrations of research-intensive, knowledge-based enterprises that increasingly value industrial estate locations for their cost-efficiency relative to central business district alternatives.

Frequently Asked Questions

What is the estimated rental yield for Motor Image (Subaru) if purchased as an investment property?

Estimated gross rental yield on Motor Image (Subaru) typically ranges between 4% to 6% annually, depending on the exact acquisition price and lease-up period. If a 6,000 sqft unit commands monthly rental of approximately S$30,000, this translates to S$360,000 annual revenue; at a purchase price of S$6 million to S$8.5 million, gross yield falls within the 4.2% to 6% envelope. However, net yield after property tax, building maintenance, insurance and potential vacancy periods generally sits 100 to 200 basis points lower than gross figures. Industrial estates in Toa Payoh have demonstrated lease-renewal rates exceeding 85%, indicating strong underlying tenant demand and mitigating downside risk during economic slowdowns.

How does the per-square-foot rental rate at Motor Image (Subaru) compare to recent transactions in Toa Payoh industrial estate?

Per-square-foot rental rates at Motor Image (Subaru) approximate S$5.00 to S$6.00 psf monthly for industrial-plus-office hybrid configurations, placing the development firmly within the mid-to-upper quartile for the Toa Payoh precinct. Direct industrial-only comparables in the same estate typically command S$4.00 to S$5.50 psf, whilst premium modern industrial developments with enhanced finishes and specification standards achieve S$6.00 to S$7.50 psf. The integrated office component justifies the premium positioning, as tenants avoid duplication of rent across warehouse and separate administrative space. Recent market transactions suggest sustained rental demand in Toa Payoh, with annual rental growth of approximately 2% to 3%, outpacing broader industrial market dynamics in less-connected estates.

What are the Additional Buyer's Stamp Duty (ABSD) implications for a second property purchase at Motor Image (Subaru)?

Singapore Citizens acquiring Motor Image (Subaru) as a second residential or investment property incur Additional Buyer's Stamp Duty at the current statutory rate of 20% on the purchase price, applied in addition to standard buyer's stamp duty. For a property valued at S$7 million, ABSD would total S$1.4 million, substantially increasing total acquisition cost beyond the base purchase price and legal fees. It is critical to note that ABSD applies specifically to residential properties; if Motor Image (Subaru) is classified and utilised purely as a commercial industrial property under B1 use licenses, ABSD may not apply, though purchasers must obtain definitive legal clarification from their conveyancing solicitor prior to completion. The ABSD obligation fundamentally alters investment return calculations, reducing net yield by 150 to 250 basis points depending on leverage ratios and financing timelines.

What lease decay risk does Motor Image (Subaru) present, and how might this impact long-term resale value?

Motor Image (Subaru) operates under standard Singapore commercial leasehold structures; the specific lease tenure (99-year, 999-year or freehold) must be verified with the developer or conveyancing solicitor. Commercial properties, unlike residential leases, experience minimal market-value deterioration as leases approach expiration, as the primary value derives from income-generating capability rather than residual land value. However, if the property is held beyond 15 to 20 years, prospective tenants and refinancing banks may impose rental discounts of 3% to 5% per annum to account for future lease-expiry administrative burdens and renewal uncertainty. For 30-year-plus hold periods, lease decay becomes a material risk factor; properties approaching 70-year lease terms often encounter difficulty attracting institutional investor demand. Purchasers intending long-term hold periods should prioritise acquisitions with 999-year or freehold leases to eliminate depreciation risk and preserve asset liquidity.

How does proximity to Toa Payoh and Braddell MRT stations affect demand and capital appreciation for Motor Image (Subaru)?

Dual MRT connectivity to Toa Payoh and Braddell stations substantially enhances tenant acquisition and retention, as staff commuting cost and time are minimised, improving operational economics for tenant businesses. Industrial estates within 500 metres of MRT nodes command 10% to 15% rental premiums compared to isolated peripheral locations, a dynamic that compounds over multi-year hold periods. Capital appreciation in Toa Payoh industrial properties has historically tracked 1.5% to 2.5% annually, marginally outpacing broader industrial market growth rates, attributable to sustained transport infrastructure investment and precinct gentrification. However, near-term appreciation may be constrained if new competing supply emerges in adjacent precincts; the upcoming Jurong Region Line expansion and proposed Changi business park developments could fragment tenant demand and suppress rental growth for properties lacking distinctive specification advantages.

Is Motor Image (Subaru) suitable for high-net-worth individuals seeking alternative asset diversification?

Motor Image (Subaru) holds considerable appeal for high-net-worth individuals seeking yield-generating commercial property diversification beyond residential portfolios or equity market exposure. The 4% to 6% gross rental yield, whilst modest compared to equity dividend yields, delivers non-correlated inflation-protected cash flow backed by tangible industrial real estate. Institutional-grade tenants in the Toa Payoh precinct—multinational automotive franchises, technology enterprises and logistics operators—present lower default risk than small-scale retail or office tenants, supporting consistent income streams. However, HNW investors should evaluate whether S$6 million to S$8 million capital deployment merits the illiquidity and management overhead, versus diversified commercial REIT exposure offering superior liquidity and fractional entry points.

What TDSR constraints and financing headroom exist at typical Motor Image (Subaru) price points?

At an assumed acquisition price of S$7 million, Total Debt Service Ratio constraints become material for purchasers relying on mortgage financing. Assuming 70% loan-to-value financing (S$4.9 million), banks typically require TDSR headroom of 30% on debt servicing obligations; for a 25-year amortisation at 3.5% interest rates, this translates to total monthly debt servicing of approximately S$23,000, requiring minimum household income of approximately S$76,700 monthly to satisfy TDSR thresholds. However, income generated from rental operations (approximately S$30,000 monthly) can partially offset debt-servicing calculations if the purchaser formalises tenant agreements and provides rental documentation to banks, potentially improving TDSR calculations by 25% to 40%. First-time property buyers should anticipate requiring minimum liquid assets of S$2.1 million (30% down-payment plus legal, stamp duty and ABSD reserves) before commencing acquisition proceedings.

How does Motor Image (Subaru) compare to competing developments in Toa Payoh or adjacent precincts?

Motor Image (Subaru)'s primary competitive set comprises JTC industrial estates (Toa Payoh Industrial Park, Lorong Bakar), Singpost's industrial offerings, and private industrial developments scattered across Braddell Road and nearby Lor 1-7 environs. JTC-managed estates typically command lower rental rates (S$3.50 to S$4.50 psf) but offer superior tenant diversity and institutional management, whilst private estates like Motor Image (Subaru) emphasise flexibility and bespoke configurations favoring higher-margin operators. Motor Image (Subaru)'s integrated office-plus-warehouse configuration distinguishes it from pure industrial comparables, capturing a tenant segment actively seeking consolidation benefits. However, newer private developments in Changi and Jurong East have begun achieving greater specification standards and cost competitiveness, potentially fragmenting Motor Image (Subaru)'s tenant acquisition over 5-10 year horizons.

What unit stack or floor-level positioning offers optimal value at Motor Image (Subaru)?

Ground-floor units at Motor Image (Subaru) command premium pricing relative to upper floors due to superior vehicle loading accessibility, reduced fork-lift or manual handling requirements, and direct customer/vendor interaction capability. However, upper-floor office-dominant configurations may attract premium rental rates from technology and professional services tenants prioritising air quality, natural light and acoustical separation from warehouse operations. Rear-positioned units (as referenced in available inventory) often trade at 5% to 10% discounts relative to front-facing alternatives due to reduced storefront visibility and customer proximity, presenting exceptional value for owner-operators or tenants unconcerned with brand elevation. Front corner lots naturally command 10% to 15% premiums for signage and customer accessibility benefits, particularly for automotive showroom or retail-adjacent operations seeking high street visibility.

What future supply pipeline in Toa Payoh or adjacent industrial precincts could impact Motor Image (Subaru) demand?

Toa Payoh industrial estate has limited virgin development capacity remaining; most future supply will emerge through retrofitting and vertical intensification of aging structures rather than greenfield development. However, the proposed Jurong Region Line expansion and emerging logistics clusters in Changi East pose medium-term demand fragmentation risks, particularly if competing modern facilities achieve superior cost structures or specification standards. The Government Land Sales (GLS) pipeline suggests potential JTC allocation of additional industrial plots in Bedok and Changi precincts over the next three to five years, likely capturing logistics-dependent tenants migrating from Toa Payoh for cost and capacity advantages. Conversely, Toa Payoh's central position and MRT connectivity position it well for technology and light-industrial migration from CBD, potentially offsetting peripheral estate competition over extended horizons. Investors should monitor GLS releases and Jurong Region Line opening timelines to assess medium-to-long-term rental trajectory.

Office At 19 Lorong 8 Toa Payoh — From S$30,000