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New Tech Park Review

New Tech Park Review
Industrial & Business Park Review — District 19

New Tech Park

A veteran Lorong Chuan B1 business park, reborn with an integrated retail podium right at the MRT doorstep.

SGCPI Research Desk Updated 24 August 2026 151 Lorong Chuan, Singapore 556741 ≈60-YR LEASEHOLD (JTC) FROM ≈1994

Street-level view of New Tech Park, 151 Lorong Chuan, Singapore 556741. Imagery: Google Street View (user-contributed imagery), accessed August 2026.

Project Overview

Building NameNew Tech Park
Address151 Lorong Chuan, Singapore 556741
DistrictDistrict 19 (Serangoon / Lorong Chuan)
Tenure≈60-year JTC leasehold, estimated commencement ≈1994
Zoning / UseB1 Light Industrial (select B2 units), plus ancillary retail podium (NTP+)
Built FormMulti-storey B1 industrial block with a 2-storey NTP+ retail/F&B podium added in 2021
Land Area / GFA≈900,000 sq ft GFA (est.), incl. ≈43,000 sq ft NTP+ extension
Completion Year≈1997 (original block); NTP+ podium completed 1Q2021
Nearest MRTLorong Chuan MRT (CC14), adjacent; Serangoon MRT (CC13/NE12) one stop away
Key Road AccessCentral Expressway (CTE), Pan Island Expressway (PIE), Kallang-Paya Lebar Expressway (KPE)
Transacted PSF Range≈S$550 – S$750 psf (strata sale, est.)
Sale Price Range≈S$1.5 million – S$14 million per unit (est., size-dependent)
Asking Rent RangeS$3.83 – S$4.30 psf/month
Occupier Base≈3,500 staff; MNC HQs incl. Nickelodeon, HBO, Lenovo, Epsilon, Fuji Electric, Crystal Jade; managed by Sabana Industrial REIT

Location & Connectivity

New Tech Park sits directly opposite Lorong Chuan MRT station on the Circle Line, in the quieter northern fringe of District 19 where Serangoon Gardens meets Ang Mo Kio. For a B1 industrial address, this is about as central and as well-served by rail as Singapore gets, and it is the single biggest reason the building has held onto a stable, MNC-heavy tenant roster for close to three decades.

Connectivity runs deeper than the MRT alone. Lorong Chuan station interchanges within one stop to both the North-South Line at Bishan and the North East Line at Serangoon, and the building itself has direct slip-road access onto the Central Expressway, with the Pan Island Expressway and Kallang-Paya Lebar Expressway both within a short drive. That trio of expressways gives occupiers a roughly 12-minute run into the CBD and equally quick reach to Changi Airport and the eastern logistics belt.

Surrounding amenities have improved markedly since the NTP+ retail podium opened. Staff can walk to NEX Mall and Junction 8 for banking, groceries and larger-format retail, while Serangoon Gardens’ cluster of eateries and the Australian International School sit within a short drive, making the location workable for expatriate-heavy occupiers as well as domestic SMEs.

Location of New Tech Park, 151 Lorong Chuan. Map data: Google Maps, accessed August 2026.

Building & Facilities

The development pairs an established multi-storey B1 industrial block with a purpose-built retail and F&B podium, NTP+, completed in 1Q2021 as part of a wider asset enhancement initiative by owner Sabana Industrial REIT. Floor plates are large and regular, with reported industrial floor loading of up to 7.5–12.5 kN/m², ceiling heights around 4.8 metres, and direct cargo lift access — specifications aimed squarely at light manufacturing, assembly, storage and back-office use rather than pure office tenants.

NTP+ itself brought in a food court, supermarket, gym, childcare centre and F&B brands spanning fast food to casual dining, alongside a 600-plus seat auditorium for tenant events. Car parking is generous for an industrial estate, with more than 470–560 lots serving the complex, plus dedicated 20/40-foot container parking for logistics-heavy occupiers.

Prospective buyers and tenants should still budget for age-related due diligence: the core industrial block predates the retail refresh by roughly two decades, so mechanical, electrical and façade conditions in the older wings warrant a proper technical inspection before committing, even though the public-facing areas now present as substantially newer.

Unit Types & Floor Plan Notes

Strata and leasable configurations at New Tech Park span a wide range, from small back-office suites to full-floor logistics plates, which is part of why the building has attracted such a broad occupier mix.

Compact Office / B1

≈2,200 – 2,800 sq ft

Entry-level suites suited to smaller regional offices, professional services firms or back-office support teams wanting an MRT-front address at a lower total quantum.

Mid-Tier Light Industrial

≈6,500 – 12,900 sq ft

The most actively traded and leased band, popular with light manufacturers, distributors and hybrid office-warehouse operators needing cargo lift and loading access.

Large Floor Plate / B2

≈14,000 – 25,600 sq ft

Larger contiguous plates typically taken up by regional HQ functions or occupiers consolidating multiple smaller units into a single efficient layout.

Whole-Floor / Anchor

≈45,000 – 50,000 sq ft

The building’s largest available configurations, generally leased rather than sold strata, and typically anchored by multinational manufacturing or logistics tenants.

Floor Loading: ≈7.5 kN/m², up to 12.5 kN/m² on lower floors
Ceiling Height: ≈4.8 metres
Cargo Access: Direct cargo lift access on typical floors
Car Parking: ≈470 – 560 lots, incl. 20/40-ft container parking
Fit-Out: Most office-format units come with false ceiling, lighting and centralised aircon

Investment Case

New Tech Park’s appeal rests on a rare combination for a B1 estate: near-100% MRT frontage, a genuinely mixed-use podium, and a long, sticky MNC tenant base. The trade-offs sit mainly around building age and the leasehold clock rather than location or demand.

What Works

  • Direct, ≈1-minute walk to Lorong Chuan MRT — unusually strong for an industrial estate
  • Triple-expressway access via CTE/PIE/KPE keeps drive times to the CBD short
  • NTP+ retail podium materially improved tenant amenities and building image since 2021
  • Long-standing MNC anchor base supports rental stability and lower vacancy risk
  • Wide range of unit sizes broadens the pool of potential buyers and tenants

What to Weigh Carefully

  • Original block is aging; mechanical and façade condition needs proper inspection
  • Decreasing leasehold balance will affect financing terms as the lease shortens further
  • B1 use restrictions cap occupier types eligible to hold or lease space here
  • Strata resale volumes are thinner than for newer high-spec industrial buildings
  • Ownership concentration under one REIT can affect strata governance flexibility

Who This Suits

New Tech Park suits owner-occupiers and investors who prioritise connectivity and tenant amenities over a brand-new building shell — light manufacturers, regional distribution operators, back-office support functions and SME service providers who value the MRT-front address, expressway access and on-site F&B and childcare. It is less suited to buyers seeking maximum remaining lease runway, pure long-hold capital appreciation plays, or occupiers whose activities fall outside permitted B1/B2 industrial use.

Frequently Asked Questions

What is the permitted use / zoning at New Tech Park?
New Tech Park is zoned predominantly B1 Light Industrial, with selected B2 Factory/Workshop units, meaning permitted uses centre on light manufacturing, assembly, packaging, warehousing, workshops and ancillary office space in support of an industrial operation. Standalone offices, retail or pure commercial use are generally not permitted in strata units outside the dedicated NTP+ podium, which was purpose-built for F&B, retail, gym and childcare use. Buyers and tenants should verify the specific use class attached to any unit with JTC or URA before committing, since B1 and B2 classifications carry different permitted-activity lists, and non-compliant use can trigger enforcement action against the occupier.
Can foreigners buy strata units at New Tech Park?
Industrial property in Singapore, including B1/B2 strata units at New Tech Park, is not subject to the Residential Property Act, so foreign individuals and foreign-owned companies can generally purchase such units without the restrictions that apply to landed or certain residential property. That said, foreign buyers should still confirm eligibility to occupy or sublease the space for their intended business activity, since JTC and URA impose occupier-eligibility conditions tied to the B1/B2 zoning rather than to nationality. Corporate structuring, financing eligibility and repatriation of rental income are separate considerations worth discussing with a tax adviser or corporate lawyer before purchase.
Does Additional Buyer’s Stamp Duty (ABSD) apply here?
ABSD in Singapore applies specifically to residential property purchases and does not apply to industrial or B1/B2 strata units such as those at New Tech Park. This is one of the structural attractions of industrial property for investors who already own residential property and want to avoid stacking ABSD on a further purchase. Buyers should note, however, that Buyer’s Stamp Duty still applies to industrial transactions, and that other cost layers — GST on the purchase price if applicable, legal fees and financing costs — should be factored into total acquisition cost even though ABSD itself is not a consideration for this asset class.
What about Seller’s Stamp Duty (SSD) on New Tech Park units?
Seller’s Stamp Duty for industrial property in Singapore applies on a shorter holding period than residential property, historically structured around a three-year holding window with duty payable on a sliding scale that reduces the longer the unit is held before resale. For an owner considering a New Tech Park unit as a shorter-term flip, SSD materially affects exit economics and should be modelled into any resale timeline. Buyers planning to hold for owner-occupation or longer-term leasing are less affected, since SSD only bites on disposal within the holding window; current rates should always be confirmed directly with IRAS before transacting.
How much Buyer’s Stamp Duty (BSD) applies on a purchase?
Buyer’s Stamp Duty applies to all property purchases in Singapore, including industrial strata units at New Tech Park, and is calculated on a tiered percentage of the purchase price or market value, whichever is higher, with the marginal rate rising for higher-value transactions. Unlike ABSD, BSD is not tied to residency status or number of properties owned, so local and foreign buyers pay the same schedule. For a typical New Tech Park unit priced in the low-to-mid single-digit millions, BSD forms a meaningful but predictable line item in total acquisition cost, and should be confirmed against the latest IRAS schedule at the point of purchase.
Is GST charged on transactions at New Tech Park?
GST treatment depends on the seller’s registration status and the nature of the transaction rather than the property itself. Where the vendor is a GST-registered entity, such as a REIT or corporate landlord, GST is typically chargeable on the sale price of a commercial or industrial unit, and on rental income for leasing transactions, as noted in several New Tech Park rental listings that state rates “subject to GST.” Buyers or tenants transacting with individual, non-GST-registered sellers may not encounter this charge. It is worth clarifying GST treatment upfront with the vendor or agent, since it affects total cash outlay materially.
How does financing work against the remaining lease?
Bank financing for industrial property is generally tied to the remaining lease term, with most lenders reducing loan quantum and tenure as the balance lease shortens, particularly once it dips below roughly 30 years. With New Tech Park’s underlying JTC land estimated at around a 60-year term from the mid-1990s, buyers should expect the lease decay to become a more prominent financing consideration over the coming decade rather than an immediate constraint. Prospective purchasers should obtain an in-principle approval early, since loan-to-value ratios and maximum tenures for industrial property already run more conservatively than residential financing, independent of lease length.
What rental yield can investors expect?
Based on current asking rents of roughly S$3.83 to S$4.30 per square foot per month against estimated strata sale prices in the S$550 to S$750 per square foot range, gross rental yields for New Tech Park units broadly fall in the mid-single-digit percentage range, which is competitive against many newer B1 developments that command higher psf pricing without a proportionate rent premium. Actual yield varies significantly by unit size, floor level and fit-out condition, and investors should stress-test figures against void periods, service charges and the eventual lease-decay effect on resale value rather than relying on headline asking rents alone.
How does the building’s age affect risk and maintenance?
The core industrial block is estimated to date to the late 1990s, making it roughly three decades old, while the NTP+ retail podium and common-area refresh were only completed in 2021. This split profile means public-facing areas present as relatively new, but mechanical systems, lifts, façade and MEP infrastructure within the older wings are approaching the stage where more frequent capital repairs and upgrading works can be expected. Buyers should request maintenance records and recent technical audit reports where available, and factor a reasonable capex reserve into their holding cost projections rather than assuming a fully refreshed building throughout.
What are the odds of en-bloc or redevelopment?
En-bloc potential for New Tech Park appears limited in the near term. The property is the flagship, largest-by-GFA asset in Sabana Industrial REIT’s portfolio, and the REIT has instead pursued incremental asset enhancement — exemplified by the NTP+ podium and previously flagged GFA-intensification plans — rather than a wholesale sale or redevelopment. Single-owner REIT structures also make a conventional strata en-bloc process largely inapplicable here, since collective sale mechanics generally apply to fragmented private strata ownership. Investors should therefore view any upside primarily through continued asset enhancement and rental growth rather than a redevelopment or collective-sale windfall.
What about parking and loading access?
New Tech Park offers a comparatively generous parking provision for an industrial estate, with figures cited between roughly 470 and 560 lots across the complex, supplemented by dedicated space for 20-foot and 40-foot container parking to support logistics-oriented tenants. Typical floors have direct cargo lift access, which materially eases the movement of goods and equipment for manufacturing or warehousing occupiers compared with buildings that rely solely on passenger lifts. Prospective tenants with heavy loading or frequent container traffic should still confirm loading bay allocation, dock height and vehicle turning circles directly with building management before committing to a specific unit.
What are maintenance / MCST fees like?
Historical lease documentation for the building shows service charge components billed alongside net rent on a per-square-metre basis, and more recent listings reference centralised air-conditioning charges bundled into asking rents for office-format units. For strata owners, maintenance and MCST-equivalent charges at an industrial estate of this scale typically scale with unit size and shared-facility usage, covering common-area upkeep, security, lift maintenance and the shared retail podium. Exact current rates vary by unit and should be obtained from the managing agent or MCST council, since service charges can be revised periodically subject to the usual notice and cap provisions in the governing lease.
How liquid is the resale market for units here?
Resale liquidity at New Tech Park is moderate rather than deep. Much of the building’s largest floor space is leased out under REIT ownership rather than held as fragmented private strata, which limits the pool of units genuinely available for strata resale at any given time compared with newer, fully-strata-titled B1 developments. Smaller and mid-sized units in the 2,000 to 13,000 square foot range see more regular listing activity than whole-floor plates. Buyers planning an eventual exit should budget for a longer marketing period than in more liquid, newer industrial parks, and price accordingly rather than assuming a quick turnaround.
What business types are best suited to this building?
Given its B1/B2 zoning, New Tech Park suits light manufacturers, assemblers, packagers, distributors, logistics and warehousing operators, and businesses running a hybrid office-cum-production model that benefits from cargo lift access and higher floor loading. The building’s long tenant roster of MNC regional offices — spanning media, technology, electronics and F&B corporate functions — also points to strong suitability for back-office, regional support and light R&D functions that value the MRT-front location. It is not well suited to businesses requiring pure retail frontage outside the NTP+ podium, heavy chemical processing, or activities that fall outside the permitted B1/B2 use classes.

This article is provided for general information purposes only and does not constitute financial, legal or investment advice. Figures marked with “≈” are reasoned estimates based on publicly available listings and reports as at the time of writing and should be independently verified before any transaction decision. Readers should conduct their own due diligence and consult qualified professionals, including lawyers, tax advisers and licensed property agents, before buying, selling or leasing any property referenced here.

© 2026 SG Commercial Property Insights. All rights reserved.

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