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L&Y Building Review

L&Y Building Review
Industrial & Commercial Property Review — District 20

L&Y Building

A long-established B1 light industrial strata block off Jalan Pemimpin, anchoring SME and small-manufacturing demand in the Marymount–Bishan corridor.

SGCPI Research Desk Updated 26 August 2026 59 Jalan Pemimpin, Singapore 577218 999-YR LEASEHOLD FROM 1885

Street-level view of L&Y Building, 59 Jalan Pemimpin, Singapore 577218. Imagery: Google Street View (user-contributed imagery), accessed August 2026.

Project Overview

Building NameL&Y Building
Address59 Jalan Pemimpin, Singapore 577218
DistrictDistrict 20 (Bishan / Ang Mo Kio / Thomson)
Tenure999-year leasehold from 1885
Zoning / UseB1 Light Industrial
Built Form5-storey light industrial block with basement carpark
Land Area / GFA≈3,664 sqm land / ≈9,158 sqm GFA
Completion Year≈1983
Nearest MRTMarymount (CC16), Bishan (CC15/NS17)
Key Road AccessCTE, Lornie Highway, Marymount Road
Transacted PSF Range≈S$650 – S$780 psf
Sale Price Range≈S$650,000 – S$1,900,000
Asking Rent Range≈S$1.80 – S$3.80 psf/month
Occupier BaseSME workshops, light manufacturing, storage & logistics operators across ≈24 strata units

Location & Connectivity

L&Y Building sits along Jalan Pemimpin in District 20, within an established industrial pocket wedged between Bishan and Ang Mo Kio that has quietly served SME manufacturers, workshops and small distribution operators for decades. The immediate surroundings are a mix of low-rise light industrial blocks, making it a familiar address for tenants who value proximity to residential catchments without paying central-region premiums.

Connectivity is a genuine strength: Marymount MRT Station (CC16) on the Circle Line is roughly 600 metres away on foot, while Bishan Interchange (CC15/NS17) and Upper Thomson MRT (TE8) on the Thomson-East Coast Line are also within easy reach, giving staff and clients three lines to choose from. By road, the Central Expressway (CTE) and Lornie Highway are close by, keeping drive times to the CBD and Orchard Road under twenty minutes, and several bus services run along Marymount Road and Bishan Street 21 directly past the building.

Surrounding amenities support day-to-day operations well: Junction 8, Bishan North Shopping Mall and Thomson Plaza cover retail and F&B needs, while Sheng Siong, FairPrice and FairPrice Finest outlets are all within a short drive. Staff can unwind at Bishan Park or MacRitchie Reservoir during breaks, and Ang Mo Kio Polyclinic and Mount Alvernia Hospital provide nearby medical options — practical touches that matter for owner-operators running staff-heavy operations.

Location of L&Y Building. Map data: Google Maps, accessed August 2026.

Building & Facilities

L&Y Building is a five-storey purpose-built light industrial block with a basement carpark, laid out around a central core serving both passenger and cargo lifts. The building’s compact footprint keeps floorplates efficient, and most strata units are accessed directly from shared corridors, with select ground-floor units benefiting from independent loading access — a configuration typical of 1980s-era B1 developments in the Bishan-Ang Mo Kio belt.

Common facilities are functional rather than lavish: basement parking supplements limited surface bays, cargo lifts allow goods movement between floors, and ground-floor bays provide loading and unloading space for delivery vehicles. Units are typically handed over in bare or lightly fitted condition, giving owner-occupiers flexibility to configure workshops, storage racking or light assembly lines to their own specifications.

Given the building’s age, prospective buyers and tenants should conduct careful due diligence on individual unit condition, verify current fire safety certification, and confirm that intended use falls within permitted B1 activities under URA guidelines before committing to a purchase or lease — a step any experienced industrial agent can help walk through.

Unit Types & Floor Plan Notes

Strata units at L&Y Building range from compact workshop-sized lots to larger combined floors, giving both small operators and growing SMEs a foothold in the same building. Historical listings show unit sizes spanning roughly 145 sqft to over 2,150 sqft, with several owners holding multiple adjoining lots that can be combined.

Compact Workshop Unit

≈500 – 800 sqft

Entry-level lots suited to solo tradespeople, small workshops or storage-only tenants seeking a low quantum foothold.

Standard Factory Unit

≈1,000 – 1,500 sqft

The building’s most common configuration, popular with light assembly, repair services and small-scale manufacturing tenants.

Warehouse / Storage Unit

≈1,800 – 2,200 sqft

Deeper floorplates favoured by distribution, e-commerce fulfilment and bulk storage operators needing racking clearance.

Combined / Whole-Floor Unit

≈2,500 – 3,500 sqft

Merged adjoining lots for larger operations wanting a single-floor footprint with in-house office space carved out.

Ceiling Height: ≈4.5m clear, standard for the building era
Floor Loading: ≈7.5 kN/sqm, adequate for light machinery and racking
Power Supply: ≈3-phase supply available to most units
Loading Access: Ground-floor bays plus cargo lift service to upper floors
Vertical Transport: ≈2 lifts (passenger and cargo) serving all levels

Investment Case

L&Y Building’s appeal rests on tenure security and location rather than glamour. Its 999-year lease from 1885 is a genuine rarity among B1 stock, most of which sits on 30- or 60-year terms, and this alone changes the financing and holding-period calculus for buyers weighing long-term ownership versus shorter-lease alternatives nearby.

What Works

  • Rare near-freehold 999-year tenure offers long-term security uncommon among B1 stock islandwide.
  • Established location served by two MRT lines and a supportive tenant catchment.
  • Strata ownership structure supports either owner-occupation or rental income strategies.
  • Consistent small-unit rental demand from SME workshops and storage operators.
  • Nearby amenities — malls, supermarkets and parks — support staff welfare and retention.

What to Weigh Carefully

  • Building age (est. early 1980s) means M&E systems and lifts may need eventual upgrading.
  • Thin recent transaction volume makes fair value benchmarking harder for buyers.
  • B1 zoning restricts use strictly to permitted light-industrial and ancillary activities.
  • On-site amenities are basic — parking and loading only, with no shared business-park facilities.
  • Smaller strata units may see slower resale liquidity versus larger integrated business parks.

Who This Suits

L&Y Building suits owner-operators running small manufacturing, repair, storage or light-assembly businesses who value a stable, well-connected address without paying business-park premiums. It is a natural fit for tradespeople and SMEs already operating in the Bishan-Ang Mo Kio belt looking to convert from renting to owning, particularly buyers who place a premium on the security of a 999-year tenure over the amenity-rich but shorter-leased newer developments elsewhere in District 20. Investors seeking steady, unglamorous rental income from small-format industrial units, rather than capital-growth speculation, will also find the profile familiar and workable.

Frequently Asked Questions

What business activities are permitted at L&Y Building given its B1 zoning?
L&Y Building is zoned B1 Light Industrial, which permits clean and light manufacturing, workshops, repair services, warehousing, storage and ancillary office space, provided operations do not generate excessive noise, smoke, vibration or pollutants that could affect neighbouring occupiers. Activities such as heavy manufacturing, noxious processing or anything requiring special environmental permits beyond light-industrial thresholds are generally not allowed under B1 rules. Retail sales to the general public are also restricted, as B1 developments are intended for production and support functions rather than storefronts. Prospective buyers or tenants should confirm their specific intended use against URA’s permitted use guidelines and, where uncertain, consult URA or an industrial property specialist before committing to a purchase or lease.
Can foreigners buy industrial units at L&Y Building?
Yes. Unlike residential property, industrial properties such as B1 units at L&Y Building are not subject to the Residential Property Act, so foreign individuals and foreign-owned companies can generally purchase strata industrial units without needing special approval. This makes industrial property, including buildings like L&Y Building, a comparatively accessible entry point for overseas investors and regional business owners looking to establish a Singapore operational base or hold income-producing commercial assets. That said, foreign buyers should still budget for standard stamp duties, engage a Singapore-qualified conveyancing lawyer, and where relevant, factor in financing constraints some banks apply to non-resident borrowers purchasing industrial assets.
Does Additional Buyer’s Stamp Duty (ABSD) apply to a purchase here?
No. ABSD in Singapore applies specifically to residential property purchases and does not extend to industrial or commercial assets such as the B1 units at L&Y Building. Buyers of industrial property, whether Singapore citizens, permanent residents, foreigners or entities, are not charged the additional duty tiers that apply to second or subsequent residential homes. This is one of the structural attractions of industrial property for investors already holding residential portfolios subject to ABSD, since capital can be deployed into assets like L&Y Building without triggering that additional cost layer, though normal Buyer’s Stamp Duty still applies regardless of buyer profile or nationality.
What about Seller’s Stamp Duty (SSD) if I resell quickly?
Industrial properties, including units at L&Y Building, carry their own SSD regime distinct from residential rules. Current policy imposes SSD on industrial property sold within three years of purchase, on a stepped-down scale of the higher of price or market value, starting highest for properties sold within the first year and tapering thereafter. This is intended to discourage short-term speculative flipping in the industrial segment. Buyers planning a genuine medium- to long-term hold, whether for owner-occupation or steady rental income, are unlikely to be affected, but flippers or short-horizon traders should factor SSD into their exit-cost modelling before purchasing a unit here.
How is Buyer’s Stamp Duty (BSD) calculated for this property?
BSD applies to all property purchases in Singapore, industrial included, calculated on a tiered percentage of the purchase price or market value, whichever is higher. For a typical unit at L&Y Building priced in the ≈S$650,000 to S$1,900,000 range, BSD would be computed progressively across the applicable bands, rising from 1% on the first tranche up to higher marginal rates on amounts above S$1 million. Unlike ABSD, BSD applies uniformly regardless of whether the buyer is an individual, company, citizen or foreigner. Buyers should obtain an exact figure from IRAS or their conveyancing lawyer at the point of exercising the option, since rates are periodically reviewed by the government.
Is GST payable on the purchase of a unit here?
GST treatment depends on the seller’s registration status rather than the building itself. If the seller is a GST-registered entity selling the property as part of a taxable business activity, GST at the prevailing rate may be charged on the sale price, which the buyer would need to account for separately from stamp duties. If the seller is an individual or non-GST-registered entity, no GST applies to the transaction. Given L&Y Building’s strata ownership spread across many individual owners, treatment can vary unit by unit, so buyers should always clarify the seller’s GST status with their lawyer or agent before finalising the purchase price and financing arrangements.
How does financing work given the building’s remaining lease?
Because L&Y Building sits on a 999-year lease from 1885, remaining tenure is effectively not a financing constraint in the way it is for shorter 30- or 60-year B1 developments, where banks progressively tighten loan tenures and quantum as the lease runs down. Lenders can generally treat this asset much like a freehold industrial property, offering standard commercial property loan tenures subject to the borrower’s profile, use of the property, and prevailing loan-to-value caps for industrial assets. Buyers should still shop financing across several banks, as industrial loan terms, interest rates and required equity vary, and should confirm whether the loan is assessed as owner-occupied or investment purpose.
What rental yield can owners expect from a unit at L&Y Building?
Based on recent asking rents of roughly S$1.80 to S$3.80 psf per month against a transacted price range of approximately S$650 to S$780 psf, gross rental yields for units at L&Y Building broadly work out in the range of ≈3% to ≈5.5% per annum before deducting maintenance, property tax and vacancy allowances. Smaller units tend to command a higher psf rent but carry higher turnover risk, while larger combined units often achieve steadier occupancy at a slightly lower psf rate. Actual yield will depend on the specific unit size, condition, and how actively the owner manages tenant turnover, so prospective investors should model conservatively against current asking figures rather than peak historical transactions.
Does the building’s age affect maintenance costs or M&E systems?
Yes, and this is a genuine consideration for buyers. Completed in the early 1980s, L&Y Building’s lifts, electrical risers, plumbing and common-area finishes are decades old, meaning owners should budget for periodic upgrading works beyond routine upkeep, particularly for lift modernisation and fire safety system compliance as regulations evolve. Buyers should request the MCST’s recent maintenance records, sinking fund balance and any planned major works before purchase, since a healthy sinking fund reduces the risk of large special levies down the road. Units that have been recently renovated internally by previous owners may also command a premium given lower near-term capital expenditure needs.
What are the chances of en-bloc redevelopment at L&Y Building?
En-bloc potential for L&Y Building appears limited in the near term. Its 999-year tenure removes the lease-decay urgency that often motivates collective sales of shorter-leasehold industrial buildings, and its plot size and B1 zoning envelope offer relatively modest redevelopment upside compared with larger sites earmarked for higher-density mixed-use schemes under the Master Plan. Collective sales in the industrial segment also require strong owner consensus and a compelling redevelopment business case, neither of which is currently evident here. Buyers should treat any en-bloc outcome as a low-probability, long-horizon possibility rather than a core part of the investment thesis, and instead focus on the building’s steady occupier-income fundamentals.
What parking and loading provisions are available?
L&Y Building provides a basement carpark supplementing limited surface parking, along with ground-floor loading and unloading bays accessible to delivery and service vehicles. Cargo lift service connects the ground floor to upper levels, allowing goods and equipment to be moved without relying solely on passenger lifts. Parking allocation for strata owners and tenants is typically managed by the MCST according to unit entitlement and availability, and during peak hours, on-site parking can be tight given the building’s age and the surrounding area’s general parking constraints. Businesses with frequent delivery schedules should verify loading-bay access hours and any booking arrangements directly with building management before committing to a lease.
What are typical MCST or maintenance fees for units here?
Maintenance fees, payable to the Management Corporation Strata Title (MCST), are typically assessed based on each unit’s share value and cover common facilities upkeep, cleaning, security, lift servicing, insurance and sinking fund contributions. For a building of L&Y Building’s age and scale, monthly MCST fees for a standard-sized unit generally fall in a modest range consistent with other ageing B1 strata developments in the area, though exact figures vary by unit size and current budget. Prospective buyers should request the latest MCST accounts, outstanding arrears status and sinking fund adequacy from the seller’s agent, since unresolved arrears or an underfunded sinking fund can become the new owner’s responsibility after completion.
How liquid is resale for strata units at L&Y Building, and what business types suit it best?
Resale liquidity for smaller, older B1 strata buildings like L&Y Building tends to be moderate rather than high, with transaction volumes generally thinner than newer, larger integrated business parks that attract institutional and larger corporate buyers. Owners should expect a realistic marketing period of several months to find a suitable buyer or tenant, particularly for larger combined units. The building suits SME manufacturers, workshops, repair trades, storage and light-assembly operators seeking an affordable, well-connected, long-tenure address rather than businesses prioritising showroom-style visibility or heavy footfall, given the building’s functional, no-frills industrial character and B1 use restrictions.

This article is provided for general informational purposes only and does not constitute financial, legal or investment advice. Figures marked with “≈” are reasoned estimates derived from publicly available listing and transaction sources and should be independently verified. Readers should conduct their own due diligence, including engaging a qualified property agent, lawyer and financial advisor, before making any purchase, lease or investment decision regarding this or any other property.

© 2026 SG Commercial Property Insights. All rights reserved.

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