Project Overview
Building NameEcon Industrial Building
Address2 Ang Mo Kio Street 64, Singapore 569084
DistrictDistrict 20 (Ang Mo Kio / Bishan / Thomson)
Tenure≈60-year leasehold from ≈1988
Zoning / UseB1 Light Industrial
Built Form≈6-storey multi-tenanted flatted factory
Land Area / GFA4,172 sqm land / 10,451 sqm GFA (≈44,900 / ≈112,500 sqft)
Completion Year≈1990
Nearest MRTYio Chu Kang (NS15), Lentor (TE5)
Key Road AccessCentral Expressway (CTE), Seletar Expressway (SLE), Yio Chu Kang Road
Transacted PSF Range≈S$550 – S$750 psf
Sale Price Range≈S$450,000 – S$1,850,000
Asking Rent RangeS$1.80 – S$2.50 psf/month
Occupier BaseSME light manufacturing, engineering, general offices, ancillary services
Location & Connectivity
Econ Industrial Building sits along Ang Mo Kio Street 64, tucked within the established Ang Mo Kio industrial belt on the northern fringe of the Bishan/Thomson planning area. The estate is one of several multi-tenanted flatted factories that line this stretch, sharing the neighbourhood with UE BizHub Central and a cluster of SME workshops, engineering outfits and light manufacturers. The setting is unmistakably industrial rather than commercial-glossy, with straightforward loading bays, service roads and utilitarian frontages rather than landscaped plazas — a look occupiers in this segment tend to prioritise function over form for.
The nearest train stations are Yio Chu Kang (NS15) on the North-South Line and Lentor (TE5) on the Thomson-East Coast Line, both within a walkable, if not particularly short, distance of roughly 800m to 1km — closer to a 10 to 12-minute walk than a five-minute one. Several bus services stop along Ang Mo Kio Street 63 and nearby roads, offering a shorter link for staff without private transport. Drivers benefit more directly: the building sits within easy reach of the Central Expressway (CTE) and Seletar Expressway (SLE) via Yio Chu Kang Road and Ang Mo Kio Avenue 6, giving reasonably quick access to the CBD, Toa Payoh, Sengkang and the Seletar Aerospace Park corridor.
Everyday amenities cluster a short drive or bus ride away rather than on the doorstep. AMK Hub and the wider Ang Mo Kio town centre supply banking, F&B and retail options, while nearer coffeeshops and food courts within neighbouring industrial blocks serve the lunchtime crowd. A handful of childcare centres and a kindergarten sit within the surrounding residential pockets, useful context for staff who live locally. For occupiers, the practical draw is less about lifestyle amenities and more about being embedded in an established SME and light-industrial cluster with familiar suppliers and service providers nearby.
Building & Facilities
Econ Industrial Building is a modest, mid-rise flatted factory of roughly six storeys, built up on a land parcel of about 4,172 sqm with a gross floor area of approximately 10,451 sqm. Unit numbering runs from the ground floor up through the fifth floor, with individual strata lots ranging from compact sub-700 sqft offices to larger combined spaces exceeding 2,800 sqft. Corridors and common areas follow the straightforward, function-first layout typical of 1980s–1990s vintage flatted factories: single loading/lift lobbies serving each floor, service risers along the perimeter, and a general absence of the glazed atriums or landscaped decks found in newer high-spec developments.
Facilities are utilitarian rather than lifestyle-oriented. Ground-floor units come with roller-shutter access suited to light workshop or storage use, while upper-floor units are typically handed over in a more office-like, partitioned condition — several current listings show units already fitted with meeting rooms, director’s rooms and general open work areas. Common facilities are limited to what a building of this vintage typically offers: passenger/goods lifts, basic security coverage, and surface or covered parking that tends to run tight relative to the number of tenants, a point worth flagging early to any prospective occupier with fleet or visitor parking needs.
Given the building’s age, prospective buyers and tenants should independently verify the exact remaining lease term, the URA-approved use for their specific unit, and any outstanding MCST matters — none of these are reliably visible from listing portals alone and are best confirmed via a lease abstract, the URA Space or OneMap tenure lookup, and the MCST’s latest AGM minutes. Fire safety certification, any additional power load approvals for machinery-heavy tenants, and current condition of shared M&E systems are also worth a physical inspection before committing, particularly for units intended for anything beyond general office or light assembly use.
Unit Types & Floor Plan Notes
Econ Industrial Building’s strata lots are split fairly evenly between small, largely office-configured units on the upper floors and larger, more flexible ground- and low-floor units suited to light workshop, storage or combined office-cum-workshop use. Recent listings span from under 700 sqft to just under 3,000 sqft, giving small and mid-sized SMEs a reasonably wide entry range. Below are four representative configurations drawn from the building’s current unit mix.
Compact Office Unit
≈680 – 1,000 sqft
Upper-floor units typically handed over with one or two partitioned rooms plus open work area; suited to small back-office teams, consultancies or admin-heavy SMEs.
Mid-Tier Fitted Unit
≈1,300 – 1,900 sqft
The most commonly available configuration, often with two to three partitioned rooms, a meeting room and open floor space; a practical fit for growing teams needing a director’s room.
Ground-Floor Workshop Unit
≈1,500 – 2,000 sqft
Ground-level units with roller-shutter access and carpeted or bare-floor handover, geared toward light assembly, storage-heavy operations or trades needing loading convenience.
Large Combined Unit
≈2,800 – 3,000 sqft
Larger floor plates fitted with a meeting room and director’s room, suited to established SMEs consolidating from two smaller units or needing a dedicated showroom-cum-office layout.
Floor-to-Floor Height: ≈4.0m typical of this building vintage; verify per unit
Typical Unit Handover: Fitted with partitions in most upper-floor listings; bare shell more common at ground level
Lift Provision: Passenger/goods lift serving all floors
Loading Access: Ground-floor roller-shutter bays for light vehicles
Zoning: B1 Light Industrial — ancillary office space permitted up to URA-set limits
Investment Case
As an older, multi-tenanted B1 asset in a well-established industrial pocket, Econ Industrial Building trades more on affordability and location convenience than on physical specification. It suits buyers and tenants prioritising a workable, no-frills space over a high-spec address, and the investment case should be weighed against the building’s age and the practical realities of an ageing multi-tenanted strata development.
What Works
- Two MRT lines within reasonable reach (Yio Chu Kang NS15, Lentor TE5), unusual for an older industrial estate
- Straightforward CTE/SLE access keeps the building well connected to both the CBD and the northern industrial corridor
- Entry price and rental quantum sit meaningfully below newer high-spec B1 developments in the vicinity
- Established, multi-tenanted occupier base spanning engineering, light manufacturing and general office use
- Reasonably deep and varied unit-size mix, from sub-700 sqft to near-3,000 sqft, suits a range of SME footprints
What to Weigh Carefully
- Building’s age means shorter remaining lease than newer JTC-leased developments, a factor lenders and future buyers will price in
- On-site parking appears limited relative to tenant count based on available listings
- M&E and common-area finishes reflect 1980s–1990s vintage rather than current high-spec standards
- Thin, largely undocumented recent sale-transaction volume makes independent price benchmarking harder
- Redevelopment or en-bloc prospects are unclear and should not be assumed as part of the investment thesis
Who This Suits
Econ Industrial Building tends to suit owner-occupier SMEs — engineering firms, light manufacturers, trade contractors and back-office operations — that value a functional, no-frills base within an established industrial cluster over a polished, high-spec address. It can also work for yield-focused landlords comfortable underwriting an older leasehold asset at a correspondingly modest entry price, provided they go in with clear eyes on the remaining lease term and realistic rental expectations. It is less suited to buyers seeking capital-appreciation-led plays, financing-sensitive purchasers stretching on loan tenure, or occupiers requiring generous on-site parking or a showcase frontage.
Frequently Asked Questions
What is the permitted use at Econ Industrial Building?
Econ Industrial Building is zoned B1 Light Industrial under the Urban Redevelopment Authority’s Master Plan, meaning units are approved for light manufacturing, assembly, storage, engineering workshops and related activities that do not generate significant nuisance to surrounding uses. Ancillary office space is permitted, but URA caps how much of a unit’s floor area can be used purely as office, typically as a proportion of total floor area, with the exact limit varying by unit and requiring confirmation. Buyers or tenants planning a fully office-based operation, retail-facing showroom or F&B use should check with URA or a qualified agent before committing, since these uses generally fall outside standard B1 approval and may need separate authorisation.
Can foreigners buy a unit here?
Yes. Industrial property in Singapore, including B1 light industrial units like those at Econ Industrial Building, is not subject to the Residential Property Act restrictions that apply to landed homes, so foreign individuals and foreign-owned entities can generally purchase industrial strata units without special approval. This makes B1 assets a relatively accessible entry point into Singapore property for overseas buyers compared with restricted residential categories. That said, foreign buyers should still budget for financing constraints, since local banks may apply stricter loan-to-value ratios or require larger cash components for non-resident purchasers, and should factor in the practicalities of remote asset management given the hands-on nature of industrial leasing.
Does Additional Buyer’s Stamp Duty (ABSD) apply?
No. ABSD is a residential-property-specific duty and does not apply to industrial purchases such as units at Econ Industrial Building, regardless of whether the buyer is a Singapore citizen, permanent resident, foreigner or company, and irrespective of how many other properties they already own. This is one of the more commonly cited reasons investors compare industrial strata against residential options, since it removes a layer of cost that can otherwise run into hundreds of thousands of dollars on a residential purchase. Buyers will still incur standard Buyer’s Stamp Duty (BSD), and should not assume the ABSD exemption extends to any residential component of a mixed-use purchase.
What about Seller’s Stamp Duty (SSD)?
Industrial properties carry their own SSD regime, separate from the residential one. Under current rules, SSD applies on industrial property sold within three years of purchase, on a stepped-down scale — broadly around 15% within the first year, 10% in the second, and 5% in the third — though buyers should verify current rates with IRAS before transacting, as these have been adjusted over time. Holding beyond the applicable period removes SSD exposure entirely. For a building like Econ Industrial Building, where holding periods among owner-occupiers tend to run long by nature of operational use, SSD is generally a secondary consideration versus liquidity and lease-tenure factors.
How is Buyer’s Stamp Duty (BSD) calculated?
BSD applies to all property purchases in Singapore, industrial included, calculated on a progressive scale against the purchase price or market value, whichever is higher. Rates rise in tiers as the price increases, starting at 1% on the lowest slice and climbing through several bands. For a typical Econ Industrial Building unit transacting from the low hundreds of thousands up to around S$1.85 million based on comparable strata pricing, BSD would be calculated across the relevant tiers rather than a flat rate. Buyers should run the exact figure through IRAS’s published BSD calculator or their conveyancing lawyer once a firm purchase price is agreed, since the tiered structure means small price differences can shift the effective rate.
Is GST payable on the purchase or rental?
GST treatment depends on the seller or landlord’s GST-registration status rather than the property type itself. If the vendor or landlord is GST-registered, GST is typically chargeable on top of the purchase price or rent; several current rental listings at Econ Industrial Building explicitly note that GST applies in addition to the quoted asking rate. If the counterparty is not GST-registered, no GST applies. Buyers and tenants should always clarify this upfront in negotiations, since a rent or price quoted “before GST” can add a meaningful 9% to the effective cost, and confirm the counterparty’s registration status in writing before signing.
How does financing work against the remaining lease?
Banks generally size industrial property loans against the remaining lease term, and shorter remaining tenure typically means a lower maximum loan-to-value ratio and shorter permissible loan tenure. Given Econ Industrial Building’s older vintage, buyers should expect financing terms more conservative than for a newer 30-year JTC-leased development, and should obtain an in-principle approval early to understand exactly how much a specific bank will lend against a specific unit’s remaining lease. Cash-heavy buyers or those with a shorter investment horizon in mind may find this less of an obstacle, but leveraged buyers should treat the remaining-lease figure as a first-order factor in their purchase decision, not an afterthought.
What kind of rental yield can an owner expect?
Based on current asking rentals in the roughly S$1.80 to S$2.50 psf per month range and comparable strata sale pricing for older B1 buildings in the area, gross rental yields for Econ Industrial Building units are likely to sit in a broadly typical range for ageing multi-tenanted industrial assets, though actual outcomes depend heavily on unit condition, floor level and how competitively a unit is priced against newer alternatives nearby. Ground-floor and mid-floor fitted units with existing partitioning tend to lease faster than bare-shell space. Prospective landlords should stress-test their yield assumption against realistic void periods and the maintenance/MCST cost load rather than relying on a single point-in-time asking rate.
How does the building’s age affect its appeal?
Econ Industrial Building’s older vintage cuts both ways. On one hand, it explains the comparatively affordable entry price and rental quantum relative to newer high-spec developments along the same corridor, a genuine draw for cost-conscious SME occupiers. On the other, it means shorter remaining lease tenure, more dated common-area and M&E specifications, and generally less flexibility for tenants needing higher floor loading, larger floor-to-floor heights or heavier power provisions than an older building was designed to support. Buyers should treat the building’s age as a pricing factor already reflected in the market, rather than either an outright deterrent or a hidden risk.
What are the chances of en-bloc sale or redevelopment?
There is no public indication of an imminent en-bloc sale or government redevelopment plan for Econ Industrial Building, and unlike some residential developments, collective sale processes for ageing industrial strata buildings are considerably less common in practice and typically depend on both strong owner consensus and clear redevelopment upside for a developer. Buyers should not factor an en-bloc premium into their investment thesis for this building. A more relevant redevelopment-adjacent consideration is what happens at natural lease expiry, since JTC has no legal obligation to renew or top up an expiring lease, and any owner planning a very long hold horizon should account for that uncertainty explicitly.
What is parking and loading access like?
Based on the building’s age and available information, on-site parking appears limited relative to the number of tenants housed across roughly 10,451 sqm of gross floor area, a common constraint at older multi-tenanted flatted factories built before current parking-provision norms. Ground-floor units benefit from roller-shutter loading bays suited to vans and light goods vehicles, but larger trucks or high-frequency loading operations should confirm bay availability and any time restrictions directly with building management before committing. Prospective tenants with significant staff or visitor parking needs, or those running delivery-heavy operations, should treat parking as a due-diligence item rather than an assumption.
What are typical maintenance or MCST fees, and how liquid is resale?
Maintenance fees at multi-tenanted strata industrial buildings like Econ Industrial Building are typically charged per square foot per month and cover shared facilities, common-area upkeep, security and basic building management; exact current rates should be confirmed with the MCST or managing agent, as they vary by unit and are periodically revised at AGMs. On resale liquidity, the building’s transaction volume appears modest based on available listing data, typical for an older, smaller strata development rather than a large modern high-spec project — sellers should expect a longer marketing period and should price competitively against both direct listings in the building and newer alternatives nearby to attract a buyer within a reasonable timeframe.
