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North Spring Bizhub Review

North Spring Bizhub Review
Industrial & Commercial Property Review — District 27

North Spring Bizhub

A 60-year leasehold ramp-up multi-user factory anchoring Yishun’s established B1 industrial belt

SGCPI Research Desk Updated August 2026 11 Yishun Industrial Street 1, Singapore 768089 60-YR LEASEHOLD FROM 2011

Street-level view of North Spring Bizhub, 11 Yishun Industrial Street 1. Imagery: Google Street View (user-contributed imagery), accessed August 2026.

Project Overview

Building NameNorth Spring Bizhub
Address11 Yishun Industrial Street 1, Singapore 768089 (blocks 5, 7, 9 & 11)
DistrictDistrict 27 (Yishun / Sembawang)
Tenure60-year leasehold from 2011
Zoning / UseB1 Light Industrial — multi-user factory (ramp-up)
Built Form7-storey ramp-up industrial development across four linked blocks
Land Area / GFA≈46,549 sqm land / ≈116,372 sqm GFA
Completion Year2013
Nearest MRTYishun (NS13), Khatib (NS14)
Key Road AccessSeletar Expressway (SLE), Yishun Avenue 9, Yishun Street 23
Transacted PSF Range≈S$480 – S$620 psf
Sale Price Range≈S$860,000 – S$8,000,000
Asking Rent Range≈S$1.60 – S$2.20 psf/month
Occupier BaseLogistics & warehousing, wholesale trade, light manufacturing, engineering and medical-equipment firms

Location & Connectivity

North Spring Bizhub sits within Yishun’s long-established B1 industrial estate, a pocket of light-industrial land tucked between Yishun Avenue 9 and Yishun Street 23 in the island’s north. The estate has hosted manufacturing, warehousing and trade-support businesses for decades, and North Spring Bizhub itself was completed in 2013 as one of the newer ramp-up developments to be added to this cluster, giving it a materially younger building profile than many of its immediate neighbours.

Public transport access is a genuine strength for a B1 development of this vintage. Yishun MRT station (NS13) and Khatib MRT station (NS14) on the North-South Line both sit within a short drive or bus ride, supporting staff commutes and reducing reliance on company transport for warehouse and production-floor workers. For vehicle-based logistics, the Seletar Expressway (SLE) provides quick access into the wider expressway network, connecting north Singapore to the Central Expressway (CTE) and onward to Woodlands, Sembawang and the causeway corridor, which matters for occupiers running regional distribution routes.

The immediate surroundings are functional rather than lifestyle-driven, which is typical of an industrial estate, though everyday amenities are not far away. Northpoint City, one of the largest suburban malls in northern Singapore, together with supermarkets such as Sheng Siong and Cold Storage and a cluster of coffee shops within the estate itself, gives staff reasonable food and retail options during work hours without needing to leave the immediate area.

Location of North Spring Bizhub. Map data: Google Maps, accessed August 2026.

Building & Facilities

North Spring Bizhub is configured as a ramp-up multi-user factory development, spread across four linked blocks addressed as 5, 7, 9 and 11 Yishun Industrial Street 1, rising to seven storeys. The ramp-up design allows vehicles, including light lorries, to drive directly up to upper-floor units via internal ramps, a layout favoured by logistics, storage and light-assembly occupiers who need to move goods in and out without relying solely on cargo lifts.

Common facilities are geared toward operational efficiency rather than office-style amenities: loading and unloading bays, cargo lift lobbies, and communal corridors sized for trolley and pallet movement are distributed across the blocks. Units are typically handed over in a basic industrial finish — bare concrete or screeded flooring, exposed services, and standard power provision — leaving fit-out, partitioning and any specialised power or ventilation upgrades to the incoming occupier or tenant. This is standard practice for B1 developments of this type and generally keeps entry fit-out costs proportionate for smaller operators.

As with any strata-titled industrial asset nearing or past its first decade, prospective buyers and tenants should conduct their own due diligence on the condition of shared mechanical and electrical systems, fire-safety compliance, and any past additions and alterations (A&A) works carried out by previous unit owners, since unauthorised alterations can complicate both financing and resale.

Unit Types & Floor Plan Notes

Unit sizes at North Spring Bizhub range widely, from compact strata units suited to small trading or storage operations up to larger factory floors and, occasionally, combined multi-unit lots for occupiers needing a full floor. The spread below reflects the broad configurations typically available across the four blocks.

Compact Unit

≈900 – 1,500 sqft

Entry-level strata units suited to small trading, storage or light assembly businesses, and popular with owner-occupiers seeking a modest capital outlay.

Mid-Tier Unit

≈1,500 – 3,000 sqft

The most commonly transacted size band, offering enough floor space for a small production line, warehousing rack systems, or a combined office-and-storage set-up.

Ramp-Up Factory Unit

≈3,000 – 6,000 sqft

Larger units with direct ramp access, favoured by logistics operators and light manufacturers needing vehicle access to the unit floor itself.

Combined / Full-Floor Lot

≈6,000 sqft and above

Amalgamated adjoining units or a full floor plate, typically transacted by larger occupiers or investors seeking scale and negotiating leverage on rent.

Floor loading: ≈10 – 15 kN/sqm typical for ramp-up B1 developments of this class
Ceiling height: ≈6.0 – 7.5m at typical floors, higher at ground floor bays
Vertical access: Vehicular ramp access plus cargo and passenger lifts
Power supply: Standard 3-phase electrical supply, upgradable subject to MCST and SP Group approval
Loading bays: Dedicated loading/unloading bays at ground level, shared across blocks

Investment Case

North Spring Bizhub occupies a fairly typical position for a well-located, mid-life B1 ramp-up development: it is neither the newest nor the cheapest option in the Yishun industrial cluster, but it benefits from strong transport connectivity and a broad, diversified occupier base that supports steady, if unspectacular, demand.

What Works

  • Strong dual MRT access via Yishun and Khatib stations, unusual for a B1 industrial estate.
  • Direct SLE access supports logistics and distribution occupiers covering the north and central regions.
  • Ramp-up configuration allows vehicle access to upper floors, widening the pool of suitable occupiers.
  • Broad unit-size range accommodates both small owner-occupiers and larger logistics tenants.
  • Established estate with a diversified, resilient occupier mix rather than reliance on a single industry.

What to Weigh Carefully

  • Remaining lease is shortening; buyers should factor this into holding-period and financing plans.
  • B1 zoning restricts use to permitted light-industrial activities, limiting flexibility versus B2 or commercial stock.
  • Basic handover finish means fit-out costs and timelines should be budgeted separately.
  • Wide reported price and rent ranges reflect uneven unit conditions and locations within the estate.
  • Resale and leasing activity can be slower than in more centrally located industrial parks.

Who This Suits

North Spring Bizhub is best suited to small and mid-sized operators in logistics, warehousing, wholesale trade, light manufacturing or engineering support who value MRT-linked staff access and direct expressway connectivity over a city-fringe address. Owner-occupiers looking for a lower entry price point relative to more central B1 clusters, and investors comfortable holding a leasehold industrial asset for steady rental income rather than rapid capital appreciation, are likely to find the profile a reasonable fit. It is less suited to businesses requiring B2-only heavy industrial processes, or to those prioritising a very short remaining lease horizon, given the tenure clock started running in 2011.

Frequently Asked Questions

What can a unit at North Spring Bizhub legally be used for?
North Spring Bizhub is zoned B1 Light Industrial, so permitted uses are generally limited to light manufacturing, assembly, storage, warehousing, wholesale trade and ancillary office space directly supporting these activities. Uses that generate significant noise, dust, vibration or pollutants beyond light-industrial thresholds are typically not permitted without special approval from URA and relevant technical agencies. Ancillary office space is usually capped at a percentage of gross floor area rather than allowed to occupy an entire unit. Prospective buyers or tenants running showroom, retail, or heavier B2-type processes should verify permitted use with URA and the building management before committing, since non-compliant use can trigger enforcement action and complicate financing or resale.
Can foreigners buy a unit at North Spring Bizhub?
Yes. Unlike residential property, industrial property in Singapore, including B1-zoned developments such as North Spring Bizhub, is not subject to the Residential Property Act, so foreign individuals and foreign-owned companies can generally purchase strata industrial units without the restrictions that apply to landed and certain other residential property types. Financing terms, however, may differ for foreign buyers, with some banks applying lower loan-to-value ratios or requiring a Singapore-incorporated entity to hold the property. Buyers should also check whether their intended use requires any additional business licensing or work-pass arrangements, and should consult a conveyancing lawyer to confirm the current regulatory position before proceeding.
Does Additional Buyer’s Stamp Duty (ABSD) apply to industrial property?
No. ABSD is a residential-property measure and does not apply to industrial or commercial property purchases in Singapore, including units at North Spring Bizhub. Buyers of industrial strata units, whether Singapore citizens, permanent residents, foreigners or companies, are not charged ABSD on the purchase price or market value. This is one of the reasons industrial property appeals to investors seeking to diversify away from residential holdings, which carry progressively higher ABSD rates for second and subsequent properties. Buyers should note, however, that standard Buyer’s Stamp Duty (BSD) still applies, and should not assume industrial property is entirely stamp-duty free.
Is Seller’s Stamp Duty (SSD) a concern when reselling?
Industrial property, including units at North Spring Bizhub, is subject to its own Seller’s Stamp Duty regime, separate from the residential SSD schedule. As of recent policy, industrial SSD applies if the property is sold within three years of purchase, with rates typically stepping down the longer the property is held, calculated on the higher of the sale price or market value. This is intended to discourage short-term speculative flipping of industrial assets. Buyers planning a quick resale within a few years should factor potential SSD liability into their return calculations, and should confirm the exact current rates and holding-period bands with IRAS or a property tax adviser before transacting.
What Buyer’s Stamp Duty (BSD) applies on purchase?
Buyer’s Stamp Duty applies to industrial property purchases in the same tiered structure used for other non-residential property, calculated on the higher of the purchase price or market value, with rates increasing progressively across value bands. Unlike ABSD, BSD is not waived for industrial assets, so it should be budgeted into total acquisition costs for a unit at North Spring Bizhub alongside legal fees, valuation costs and any financing charges. Because rates are periodically revised in the Budget, buyers should check the latest IRAS schedule at the point of purchase rather than relying on older figures, and should ask their conveyancing lawyer to confirm the exact duty payable before exercising an option.
Is GST payable when buying or renting a unit here?
Purchases of industrial property from a GST-registered seller, such as a developer or corporate vendor, are generally subject to GST on the purchase price, whereas private resale transactions between individuals who are not GST-registered typically are not. Rental of industrial space is also generally a taxable supply when the landlord is GST-registered, meaning tenants may see GST added to the quoted rent. Buyers and tenants should clarify the GST status of the specific seller or landlord at North Spring Bizhub before finalising terms, since this affects total transaction cost and, for GST-registered business buyers, may be partially recoverable through input tax claims.
How does the remaining lease affect financing options?
North Spring Bizhub’s 60-year lease commenced in 2011, leaving a substantial but finite tenure remaining. Banks typically size industrial property loans against both the applicant’s financial profile and the remaining lease term, with loan tenure often capped so that the loan is repaid well before the lease expires, and loan-to-value ratios sometimes trimmed as the remaining lease shortens. At this stage of the lease, most lenders should still offer standard industrial financing terms, but buyers planning a long holding period or eventual resale should model how financing conditions may tighten in later decades as the remaining tenure decreases, and should compare offers across several banks.
What kind of rental yield can an investor expect?
Based on prevailing asking rents of roughly S$1.60 to S$2.20 psf per month against transacted prices in the region of S$480 to S$620 psf, gross rental yields for units at North Spring Bizhub broadly fall in a mid-single-digit percentage range, though actual yields vary considerably by unit size, floor, condition and tenant profile. Smaller, well-configured units in higher demand tend to command relatively better yields than larger or less accessible lots. Investors should always underwrite using net yield after service charges, property tax, maintenance and expected vacancy periods rather than headline gross figures, and should benchmark against comparable B1 developments in the wider Yishun and Sembawang corridor.
How significant is the building’s age as a factor?
Completed in 2013, North Spring Bizhub is now in its second decade, which is a reasonably typical age profile for actively traded B1 industrial stock in Singapore. Core structural elements and common mechanical and electrical systems are generally still within a serviceable lifespan, though buyers should request recent maintenance and inspection records from the MCST and budget for age-related upgrades to items such as lifts, fire-safety systems and shared plumbing over the medium term. The building’s age is not unusual enough to be a major red flag on its own, but it does warrant the same due diligence any buyer would apply to a mid-life strata industrial asset.
What are the chances of an en-bloc sale or redevelopment?
There is no indication of an imminent collective sale or redevelopment at North Spring Bizhub, and en-bloc activity for B1 industrial strata developments in Singapore is generally far less common and more procedurally complex than for residential estates, requiring high owner consent thresholds and a viable redevelopment case under current planning parameters. Given the estate’s relatively recent 2013 completion and mid-tenure lease position, a near-term en-bloc attempt appears unlikely on current information. Buyers should nonetheless monitor URA Master Plan updates for the wider Yishun industrial precinct, since long-term rezoning or state land-use changes could eventually influence redevelopment potential, however distant that prospect may currently be.
What are the parking and loading arrangements like?
As a ramp-up multi-user factory development, North Spring Bizhub provides dedicated loading and unloading bays at ground level across its four blocks, along with vehicular ramp access that allows lorries and vans to reach upper-floor units directly, reducing dependence on cargo lifts for goods movement. Car parking for staff and visitors is provided within the estate, though availability during peak hours can be tighter than at newer developments with more generous parking ratios, which is a common characteristic of older industrial estates. Occupiers with frequent delivery schedules should coordinate loading bay usage with building management to avoid congestion during shared peak periods.
What are typical MCST or maintenance fees?
As a strata-titled development, North Spring Bizhub is managed by a Management Corporation Strata Title (MCST) that collects monthly maintenance fees from unit owners to cover common-area upkeep, security, cleaning, lift servicing, insurance and sinking-fund contributions for major repairs. Fees are typically assessed based on each unit’s share value and floor area, and for B1 ramp-up developments of this scale commonly fall in a moderate range relative to the unit’s purchase price, though exact figures vary by block and unit. Prospective buyers should request the latest MCST budget, sinking-fund balance and any planned special levies before purchase, since underfunded sinking funds can lead to unexpected future assessments.
How liquid is the resale market for units here?
Resale liquidity at North Spring Bizhub reflects the broader pattern for suburban B1 industrial stock: transactions occur regularly but less frequently than in more centrally located or newer industrial parks, and the wide reported price range across the development suggests significant variation in unit desirability by size, floor level and condition. Smaller, well-located, higher-floor units with good natural light and easier access tend to transact more readily than larger or less favourably positioned lots. Sellers should expect a marketing period of several months in typical market conditions rather than a quick turnaround, and should price competitively against recent comparable transactions within the same estate and precinct.
What types of businesses are best suited to this building?
Given its B1 zoning, ramp-up configuration and strong transport links, North Spring Bizhub is well suited to logistics and warehousing operators, wholesale and distribution traders, light manufacturers, engineering support firms, and businesses handling medical or technical equipment that require moderate floor loading and vehicle access rather than heavy B2-grade industrial processes. The dual MRT connectivity also makes it relatively attractive to occupiers who rely on a labour-intensive workforce commuting by public transport, such as warehousing and light-assembly operations. Businesses considering the development should nonetheless verify that their specific activities fall within permitted B1 use before signing a lease or completing a purchase, to avoid compliance issues later.

This article is for general information purposes only and does not constitute financial, legal or investment advice. Figures cited, including pricing, rental and yield estimates, are approximate, based on publicly available data and reasonable estimates where noted with “≈”, and may not reflect current market conditions. Prospective buyers and tenants should conduct independent due diligence and consult qualified professionals, including a property agent, lawyer and financial adviser, before making any purchase, leasing or investment decision.

© 2026 SG Commercial Property Insights. All rights reserved.

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