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Nordcom II Review

Nordcom II Review
Industrial Property Review — District 27

Nordcom II

A 2018-built B1 light industrial development in Sembawang, held on a fixed 30-year lease from 2014.

SGCPI Research Desk Updated 26 August 2026 2 Gambas Crescent, Singapore 757044 ≈30-YR LEASEHOLD FROM 2014

Street-level view of Nordcom II, 2 Gambas Crescent. Imagery: Google Street View (user-contributed imagery), accessed August 2026.

Project Overview

Building NameNordcom II
Address2 Gambas Crescent, Singapore 757044
DistrictD27 — Sembawang / Yishun / Admiralty
Tenure30-yr leasehold from 2014
Zoning / UseB1 Light Industrial
Built Form4 blocks — ramp-up, flatted & 3-storey terrace factory
Land Area / GFA≈27,839 sqm / ≈69,597 sqm
Completion Year2018
Nearest MRTSembawang (NS11), Admiralty (NS10)
Key Road AccessSLE, BKE, future North-South Corridor
Transacted PSF Range≈S$270 – S$420 psf
Sale Price Range≈S$499,000 – S$950,000
Asking Rent Range≈S$2.10 – S$2.50 psf/mth
Occupier BaseLight manufacturing, trade, training, F&B, childcare

Location & Connectivity

Nordcom II sits along Gambas Crescent within the established Sembawang industrial estate, positioned roughly between Woodlands and Sembawang town. Its location lets occupiers draw on synergies from two nearby growth nodes — the Woodlands Regional Centre to the west and the Seletar Regional Centre and Seletar Aerospace Park to the east — without sitting directly inside either precinct’s premium rental band.

The nearest MRT stations are Sembawang (NS11) and Admiralty (NS10) on the North-South Line, each a walkable but not immediate distance from the development, with bus services covering the gap. Road access runs via the Seletar Expressway and Bukit Timah Expressway, and the future North-South Corridor is expected to shorten north-south travel times further once operational, a genuine long-term connectivity upside for occupiers here today.

Everyday amenities are modest but adequate: Sun Plaza and Sembawang Shopping Centre serve the wider estate, while Nordcom II’s own ground-floor canteen cluster covers daily meals for the on-site workforce without requiring a drive out. This is a functional industrial catchment rather than a lifestyle destination, which suits its occupier base.

Location of Nordcom II. Map data: Google Maps, accessed August 2026.

Building & Facilities

Nordcom II was completed in 2018 by Far East Organization and comprises four blocks with 347 strata units in total — 345 industrial units and 2 canteen units, one of which has been amalgamated into a roughly 5,300 sq ft food court housing about seven stalls and a beverage kiosk. Formats span ramp-up, flatted and 3-storey terrace factory units.

Common facilities lean toward daytime workforce wellbeing rather than residential-style living: a rooftop garden, BBQ pavilion, basketball court and swimming pool are on site, alongside an on-site childcare centre operated by MindChamps. These are unusual inclusions for a B1 development and are a point of differentiation from older, more utilitarian industrial stock in the area.

Buyers should independently verify permitted B1 use with URA before any fit-out or change of business activity, confirm the unit’s handover condition with the seller, and request the MCST’s latest accounts and maintenance schedule, since the entire development shares a single 2014 lease commencement date regardless of which unit is being purchased.

Unit Types & Floor Plan Notes

Nordcom II offers four broad configurations across its four blocks, with unit sizes ranging from about 1,636 sq ft to 5,888 sq ft. Ground-floor ramp-up units suit businesses needing direct vehicle access, upper-floor flatted units suit lighter, more office-like operations, and a small terrace and F&B cluster round out the mix.

Ramp-Up Unit

≈1,636 – 2,013 sq ft

Ground-floor units with direct vehicle ramp access, suited to light assembly, warehousing or businesses needing frequent loading and unloading.

Flatted Factory Unit

≈1,668 – 3,336 sq ft

Multi-storey units served by passenger and cargo lifts, suited to design, R&D, light manufacturing or office-style operations.

3-Storey Terrace Factory

≈3,000 – 5,888 sq ft

Standalone terrace-format units with their own frontage and loading bay, suited to businesses wanting greater operational independence.

F&B / Canteen Unit

≈2,616 – 2,713 sq ft (amalgamated)

Ground-floor food court cluster housing about seven stalls and a beverage kiosk, serving the on-site daytime workforce.

Ceiling Height: ≈6.0m ground floor / ≈4.5m upper floors
Floor Loading: ≈10 kN/m² ground floor / ≈7.5 kN/m² upper floors
Lift Provision: Passenger and cargo lifts serving flatted and ramp-up blocks
Power Supply: ≈60–100A three-phase per unit, upgradable subject to approval
Loading / Unloading: Dedicated ramp driveways for ground-floor units; shared bays for upper floors

Investment Case

As a 2018-completed B1 development on a 30-year lease from 2014, Nordcom II occupies a specific niche in Singapore’s industrial market: entry prices are accessible relative to freehold or 60-year leasehold alternatives, but the shortening tenure is the single biggest variable buyers need to underwrite before committing.

What Works

  • Entry PSF meaningfully below freehold or longer-leasehold B1 stock in the north region, widening the buyer pool at this price point.
  • Purpose-built amenities — pool, BBQ pavilion, childcare — that support daytime workforce retention, unusual for an industrial development.
  • Strong current connectivity via SLE/BKE, with the future North-South Corridor expected to improve journey times further.
  • An active, functioning MCST across 347 units, spreading maintenance costs over a reasonably large base.
  • Mixed unit formats give owner-occupiers flexibility to match space to operational needs.

What to Weigh Carefully

  • Only around 18 years remain on the 30-year lease from 2014, narrowing financing tenure and the resale pool as it decays.
  • Short-leasehold industrial assets typically see steeper value decline in their final third of tenure.
  • B1 restrictions limit occupiers to clean and light industry — not general office or retail use.
  • As a single-use industrial estate, immediate surroundings offer fewer lifestyle amenities than mixed-use precincts.
  • En-bloc or redevelopment is unlikely this early in the lease and should not be part of the investment thesis.

Who This Suits

Nordcom II is best suited to owner-occupiers running light manufacturing, assembly, trade or storage operations who value the ramp-up and flatted mix, and who are comfortable operating within a defined B1 lease horizon rather than planning for multi-decade ownership. It can also appeal to investors seeking industrial rental income at an accessible entry price, provided they underwrite the shortening lease into their hold-and-exit timeline rather than assuming long-term capital appreciation. It is less suited to buyers requiring general office, retail or F&B use beyond the existing canteen cluster, or to those seeking a forty-year-plus investment horizon.

Frequently Asked Questions

What is the zoning and permitted use for units at Nordcom II?
Nordcom II is zoned Business 1 (B1) under the Master Plan, restricting use to clean and light industry — activities such as manufacturing, assembly, R&D, design work and associated storage that do not generate significant noise, smell, dust or vibration affecting neighbouring premises. Office-like operations are permitted within a unit, but the unit cannot be used purely as a standalone office, retail outlet or residence. Prospective buyers should check with URA that their intended business activity falls within B1 parameters before purchase, since a mismatch can complicate approvals, insurance and eventual resale to like-minded industrial occupiers.
Can foreigners buy industrial units at Nordcom II?
Unlike residential property, Singapore does not restrict foreign individuals or foreign-owned entities from purchasing B1 industrial units such as those at Nordcom II — there is no equivalent to the Residential Property Act controls here. Foreign buyers can generally purchase in their own name or through a Singapore-incorporated company. That said, financing terms for foreign buyers are typically tighter, with lower loan-to-value ratios than for citizens or PRs, and some banks apply extra scrutiny given the fixed 30-year lease from 2014. Buyers should also confirm their business use qualifies under B1 rules, and engage a lawyer familiar with industrial transactions.
Does ABSD apply to a purchase at Nordcom II?
Additional Buyer’s Stamp Duty (ABSD) applies specifically to residential property purchases in Singapore and does not apply to industrial units such as those at Nordcom II, regardless of the buyer’s residency status or number of existing properties. This is one of the practical advantages of industrial ownership over residential investment for buyers already holding residential property, since it avoids the layered ABSD rates residential buyers face. Buyers should still budget for standard Buyer’s Stamp Duty (BSD) and, if applicable, GST on the purchase price, and should reconfirm current rules with IRAS or their conveyancing lawyer, since stamp duty frameworks are periodically revised.
What about Seller’s Stamp Duty (SSD) if I resell early?
Industrial property carries its own SSD regime, separate from residential rules, and it applies for a shorter holding period. Sellers who dispose of an industrial unit within three years of purchase are typically liable for SSD on a sliding scale, with the highest rate applying in year one and tapering by year three, after which no SSD applies. Given Nordcom II’s fixed 30-year lease from 2014, this holding-period rule matters less for long-term owner-occupiers, but flippers or short-term investors should factor SSD into their exit math and verify current rates with IRAS, since percentages have shifted across policy cycles.
What Buyer’s Stamp Duty (BSD) applies to a purchase?
BSD is payable on all property purchases in Singapore, including industrial units at Nordcom II, calculated on a tiered percentage of the purchase price or market value, whichever is higher. Rates step up progressively for higher-value tranches of the price, so a unit transacting toward the upper end of Nordcom II’s range attracts a proportionally higher blended BSD rate than an entry-level unit. BSD is payable regardless of buyer nationality or entity type, and is due within 14 days of signing the sale and purchase agreement or exercising the option. Buyers should ask their lawyer for an exact computation, since the schedule can change.
Is GST payable on an industrial unit at Nordcom II?
GST treatment depends on the seller’s GST-registration status and the transaction structure. If the seller is a GST-registered entity selling in the course of business, GST is typically chargeable on the sale price of the industrial unit, payable by the buyer in addition to the purchase price. Purchases from non-GST-registered individual sellers, as in many resale transactions, generally do not attract GST. Given Nordcom II units sit at various stages of ownership between developer-linked and individual sellers, buyers should clarify GST status upfront with the seller or agent and factor it into total acquisition cost, since it materially changes the effective purchase price.
How does financing work given the remaining lease term?
With roughly 18 years remaining on Nordcom II’s 30-year lease from 2014 as of 2026, financing is the area buyers should scrutinise most closely. Banks generally cap loan tenure so the loan is fully repaid well before the lease expires, which shortens the maximum loan period compared with freehold or 60-year leasehold industrial property, and can also reduce the loan-to-value ratio offered. Older buyers or those seeking maximum leverage may find financing options narrowing further as the lease decays. It is worth obtaining in-principle approval from more than one bank before committing, since policies on short-leasehold industrial financing vary by lender.
What rental yield can investors expect at Nordcom II?
Based on recent asking rents of roughly S$2.10 to S$2.50 psf per month against transacted sale prices in the ≈S$270 to S$420 psf range, gross rental yields at Nordcom II broadly work out in the mid-to-high single digits annually, which is competitive for Singapore industrial property. Actual yield varies by unit type, floor level and tenant profile, with ground-floor ramp-up units often commanding a premium for loading convenience. Investors should net off MCST fees, property tax and any vacancy periods to arrive at a realistic net yield, and should weigh the shortening lease against sustained rental income when modelling long-term returns.
How does the building’s age affect maintenance and buying decisions?
Completed in 2018, Nordcom II is a relatively young industrial development, which generally means lower near-term capital expenditure on major building systems such as lifts, roofing and common-area finishes compared with older 1990s-vintage industrial stock nearby. Buyers should still request the MCST’s latest maintenance fund statement and any planned major works schedule, since even newer buildings can face early-stage defects or upgrading needs. The building’s relative youth is a point in its favour operationally, but it does not offset the fact that its 30-year lease clock started in 2014, so age and remaining tenure should be assessed separately.
What are the odds of an en-bloc sale or redevelopment?
En-bloc sales are uncommon for short-leasehold B1 industrial developments generally, and particularly unlikely for Nordcom II at this stage, since the 30-year lease from 2014 leaves roughly 18 years of tenure — too early in the cycle for a collective sale to make commercial sense for either owners or a developer. Redevelopment potential typically becomes a realistic conversation only as a lease approaches its final years, and even then depends on URA’s future plans for the Gambas industrial precinct. Buyers should treat Nordcom II purely as an operational or income asset for its remaining lease rather than factor in en-bloc upside.
What’s the parking and loading/unloading setup like?
Nordcom II provides on-site parking for owners, tenants and visitors, alongside dedicated ramp-up driveways that allow vehicles to load and unload directly at ground-floor units — a practical feature for logistics-oriented occupiers. Upper-floor flatted and terrace units rely on shared loading bays and lift access for goods movement, which suits lighter operations better than heavy freight. Loading capacity and vehicle access should be checked against the buyer’s specific operational needs, such as vehicle size and delivery frequency, before purchase, since ramp-up and upper-floor units differ meaningfully in convenience for businesses with regular truck or van traffic.
What are maintenance and MCST fees like at Nordcom II?
As a strata-titled development with 347 units under an active MCST, Nordcom II owners pay monthly maintenance fees that cover common-area upkeep, security, cleaning, lift servicing and shared facilities such as the rooftop garden and pool. Fees are typically apportioned by share value, so larger units carry a proportionally higher monthly charge. Because the development is relatively young, near-term sinking-fund top-ups for major repairs are less likely than at older estates, though buyers should still request the latest MCST accounts and fee schedule from the managing agent before purchase to confirm current rates and any planned increases.
How liquid is the resale market for Nordcom II units?
Resale liquidity at Nordcom II benefits from a reasonably large unit base of 347 strata lots and steady transaction activity, with recent PSF prints ranging roughly S$270 to S$401 over the past year. That said, liquidity for short-leasehold industrial units generally softens as the remaining tenure shortens, since the pool of financeable buyers narrows and some purchasers prefer longer-leasehold or freehold alternatives elsewhere in the north region. Owners planning to sell should expect a longer marketing period than for a comparable freehold unit, and should price competitively against the specific lease-decay curve rather than against nominal PSF trends alone.
What types of businesses are suitable for Nordcom II units?
Given its B1 zoning, Nordcom II suits light manufacturing, assembly and precision engineering operations, product design and R&D teams, warehousing and distribution businesses, trading and import/export companies, and service providers such as the training centres and childcare operator already on site. Ramp-up units favour businesses with frequent vehicle loading, such as logistics or light assembly, while upper-floor flatted units suit less freight-intensive, more office-like operations. It is not suited to businesses requiring pure retail frontage, F&B beyond the existing canteen cluster, or residential use. Buyers running or leasing to genuinely light, low-nuisance industrial activity will find the best operational fit here.

This article is 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 market data at the time of writing and should be independently verified before any transaction. Readers should conduct their own due diligence and consult qualified professionals, including a lawyer and licensed property agent, before buying, selling or leasing any unit at Nordcom II.

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