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Parkway Centre Review

Commercial & Office Property Review — District 15

Parkway Centre

A 13-storey office-and-retail landmark sitting directly above Marine Parade MRT, at the doorstep of Parkway Parade.

SGCPI Research Desk Updated August 2026 1 Marine Parade Central, Singapore 449408 99-YR LEASEHOLD FROM 1981

Street-level view of Parkway Centre, 1 Marine Parade Central. Imagery: Google Street View (user-contributed imagery), accessed August 2026.

Project Overview

Building NameParkway Centre
Address1 Marine Parade Central, Singapore 449408
DistrictDistrict 15 (Marine Parade / East Coast)
Tenure99-yr leasehold from 1981 (≈54 yrs remaining)
Zoning / UseCommercial — mixed office & retail strata
Built Form13-storey office tower over a retail podium
Land Area / GFA≈1,734 sqm land / ≈65,000 sqft GFA
Completion Year≈1983
Nearest MRTMarine Parade (TE26), Amber (TE25)
Key Road AccessEast Coast Parkway (ECP), Marine Parade Road
Transacted PSF RangeS$1,600 – S$2,500 psf (office); shop units up to ≈S$4,100 psf
Sale Price RangeS$1.3M – S$3.0M
Asking Rent Range≈S$5.50 – S$7.50 psf/month
Occupier BaseSME offices, enrichment/tuition centres, clinics, F&B and retail serving the Marine Parade catchment

Location & Connectivity

Parkway Centre sits at 1 Marine Parade Central, on the same block as the much larger Parkway Parade shopping mall, in the heart of the Marine Parade town centre. This is one of the older and more established residential-commercial nodes on Singapore’s east side, ringed by HDB estates, condominiums and landed housing that stretch from Katong through to East Coast Park, giving the building a large, stable resident catchment on its doorstep rather than a purely office-hours crowd.

Connectivity has materially improved with the opening of the Thomson-East Coast Line. Marine Parade MRT station (TE26) has an exit essentially built into the base of the building, while Amber station (TE25) is a short walk away, putting the Marina Bay financial district and Woodlands corridor within a single MRT line. Motorists reach the building quickly via the East Coast Parkway (ECP), which links directly to the CBD, Changi Airport and the PIE, and Marine Parade Road provides the main surface route through the estate.

At street level, occupiers and visitors are within walking distance of Parkway Parade, Roxy Square and Katong Square for retail and F&B, plus NTUC FairPrice, Cold Storage and Shop N Save supermarkets. The Marine Parade Food Centre, i12 Katong and East Coast Park are also close by, reinforcing the area’s identity as a self-contained lifestyle and dining precinct rather than a pure business district.

Location of Parkway Centre. Map data: Google Maps, accessed August 2026.

Building & Facilities

Parkway Centre is built as a 13-storey commercial tower rising above a lower retail podium, a fairly typical form for suburban commercial developments completed in the early 1980s. Office floors are generally configured as open, column-light plates that individual owners have subdivided into smaller strata units over the decades, which is why unit sizes on the resale market today range widely from around 700 sqft to well over 1,100 sqft. Lift provision and floor-to-floor heights reflect the building’s age rather than a modern purpose-built specification.

Common facilities are functional rather than lavish: shared lift lobbies, common toilets on office floors, and a retail concourse at the lower levels that brings in daily footfall from residents and commuters using the adjoining MRT exit. Renovation condition varies considerably unit to unit, since strata ownership means fit-out standards depend entirely on each individual owner or tenant, and several units marketed for sale note they come already renovated and tenanted.

Because of the building’s age, prospective buyers should budget for a technical and physical due-diligence review — covering the condition of common services (lifts, electrical risers, fire systems), any outstanding Management Corporation Strata Title (MCST) matters, and the state of individual unit fit-outs — as part of their purchase process, rather than assuming new-building specifications.

Unit Types & Floor Plan Notes

Strata office and retail units at Parkway Centre are sold individually, so sizes and configurations vary more than in a single-developer building. The four broad categories below summarise what typically comes to market.

Compact Office

≈700 – 800 sqft

Entry-level strata office units, popular with tuition/enrichment operators, small consultancies and single-owner professional practices.

Mid-Size Office

≈900 – 1,100 sqft

The most commonly traded band; suits small teams needing a reception area plus one or two partitioned rooms.

Larger Office

≈1,100 sqft+

Combined or corner units offering more flexible layouts, sometimes marketed with existing fit-out and sitting tenants in place.

Retail / Shop

≈300 – 1,100 sqft

Ground and podium-level shop units serving walk-in footfall from residents and the adjoining MRT concourse; these command the highest psf.

Typical Layout: Open-plan shell, individually partitioned by owner/tenant
GST Status: A number of units are GST-registered; buyers should confirm per-unit status before transacting
Ceiling Height: ≈2.6 – 2.8 m, standard for a building of this vintage
Air-Conditioning: Individual unit-level split systems, condition varies by owner
Parking: Limited basement/surface lots shared across the building; public car parks nearby supplement demand

Investment Case

Parkway Centre’s investment appeal rests almost entirely on its connectivity and catchment rather than on building specification. It is a value proposition for buyers who prioritise footfall and MRT proximity over a modern Grade-A shell, and the numbers below should be read in that context.

What Works

  • Direct MRT connection via Marine Parade station (TE26) on the Thomson-East Coast Line
  • Dense, affluent residential catchment across Marine Parade, Katong and East Coast
  • Entry prices meaningfully below CBD-fringe commercial benchmarks
  • Established F&B and retail ecosystem next door at Parkway Parade generates consistent footfall
  • Strata ownership allows small investors to buy a single unit rather than a whole floor

What to Weigh Carefully

  • Remaining lease of ≈54 years will affect financing tenure and eventual resale pool
  • Building age means higher likelihood of common-area upgrading or ad-hoc MCST levies
  • Fragmented strata ownership can slow consensus on major building decisions
  • Limited on-site parking relative to footfall during peak hours
  • Wide price dispersion between renovated, tenanted units and bare shell units

Who This Suits

Parkway Centre tends to suit owner-occupiers and small investors more than institutional buyers. Enrichment and tuition centre operators, clinics, small professional practices and neighbourhood-facing service businesses value the direct MRT link and steady resident footfall. Investors seeking a modestly priced strata office with a tenanted rental yield, rather than capital-intensive redevelopment upside, are the most natural fit. It is less suited to businesses needing large contiguous floor plates, heavy loading access, or a prestige CBD address, and buyers focused purely on long-dated capital appreciation should weigh the shortening lease carefully against alternative freehold or newer leasehold commercial stock in the vicinity.

Frequently Asked Questions

What is Parkway Centre zoned for, and what can I actually run there?
Parkway Centre is zoned Commercial, with the building comprising a mix of strata office and retail/shop units. Office units are generally suited to professional services, consultancies, enrichment and tuition operators, and back-office functions, while ground and podium-level units are geared toward retail, F&B and walk-in service businesses. Heavy industrial, warehousing, noisy or noxious uses are not appropriate for this format. Because ownership is strata-subdivided, individual unit deeds and the building’s house rules may impose additional restrictions on renovation, signage, operating hours or specific trades, so prospective occupiers should verify permitted use with URA and the Management Corporation before committing to a lease or purchase, particularly for F&B or medical uses that may need separate licensing.
Can foreigners buy a unit at Parkway Centre?
Yes. Commercial property in Singapore, including strata office and retail units like those at Parkway Centre, is not subject to the Residential Property Act restrictions that apply to landed and most residential housing. Foreign individuals and foreign-owned companies can generally purchase commercial units without prior government approval, which is one reason commercial strata offices are popular with overseas investors seeking Singapore exposure. That said, buyers should still budget for standard transaction costs such as legal fees, Buyer’s Stamp Duty, and financing considerations tied to the property’s remaining lease. It is prudent to engage a Singapore-qualified property lawyer to confirm current eligibility rules, since foreign ownership policy can be revised and should always be checked against the latest official guidance before making an offer.
Does Additional Buyer’s Stamp Duty (ABSD) apply to a commercial purchase here?
No. ABSD in Singapore is levied specifically on residential property purchases and does not apply to commercial or industrial assets such as the office and retail units at Parkway Centre. This is one of the key structural advantages commercial property holds over residential property for both local and foreign buyers, since it removes an entire layer of stamp duty that can otherwise add a significant percentage to the purchase price. Buyers will still need to account for the standard Buyer’s Stamp Duty (BSD), which is calculated on a tiered basis against the purchase price or market value, whichever is higher. Always confirm current rates with IRAS or a conveyancing lawyer, as duty schedules are periodically revised by the authorities.
Is Seller’s Stamp Duty (SSD) a concern if I want to flip a unit quickly?
Commercial property, including units at Parkway Centre, is currently not subject to Seller’s Stamp Duty, which historically has applied mainly to residential and, at various points, industrial property within specified holding periods. This gives commercial owners more flexibility to sell within a short timeframe without an automatic stamp duty penalty tied purely to holding period. That said, short holding periods can still carry other costs — financing prepayment penalties, agent commissions, legal fees and capital gains considerations for entities classified as property traders. Buyers and sellers should still model their expected holding period realistically and consult a tax adviser on how any gains might be treated, since SSD policy can be extended to new asset classes by future government announcements.
How is Buyer’s Stamp Duty (BSD) calculated for a Parkway Centre unit?
BSD in Singapore is calculated on a tiered percentage of the purchase price or market value, whichever is higher, and applies uniformly to commercial, industrial and residential property regardless of buyer nationality. For a unit at Parkway Centre priced in the S$1.3 million to S$3.0 million range typical of recent transactions, BSD would be calculated by applying the relevant tiered rates progressively across bands of the price, with higher-value tranches taxed at a higher marginal rate. Because rate tiers and thresholds are periodically revised by IRAS, buyers should request an up-to-date BSD calculation from their conveyancing lawyer or use the official IRAS calculator before finalising their budget for a purchase at this building.
Do I need to pay GST when buying or renting a unit at Parkway Centre?
GST treatment depends on the seller’s or landlord’s registration status rather than the building itself. Several units at Parkway Centre are marketed as “GST-registered,” meaning the current owner charges GST on rental income and would typically charge GST on a sale as well, since commercial property sales by a GST-registered entity are generally taxable supplies. If you buy from a GST-registered seller, you may need to account for GST upfront, which has cash-flow implications even where it can later be recovered if you are GST-registered yourself. Always confirm the specific unit’s GST status with the seller or agent before signing an Option to Purchase, and consult an accountant on registration and recovery mechanics.
How does the ≈54-year remaining lease affect financing?
Banks in Singapore generally cap commercial mortgage tenures so that the loan is fully repaid before the lease runs out, and many lenders apply more conservative loan-to-value ratios once remaining tenure falls below roughly 60 years, which is the range Parkway Centre now sits in. Practically, this can mean a shorter maximum loan tenure than for a fresh 99-year lease, which pushes up monthly instalments even at the same interest rate, and it may also affect the pool of buyers able to secure financing when you eventually resell. Buyers should get an indicative financing quote from at least two banks referencing the specific unit’s remaining lease before making an offer, rather than assuming standard 25 to 30-year tenures will be available.
What kind of rental yield can I expect from a Parkway Centre unit?
Based on recent listings, gross yields on tenanted office units at Parkway Centre have been quoted in the region of 4% to 4.5% per annum, calculated against asking sale prices and current rental income, with retail units at the higher end typically commanding stronger rents per square foot but also higher entry prices. Actual achievable yield will depend on the specific unit’s size, condition, tenant covenant and remaining lease term, as well as prevailing market rents at renewal. Buyers should stress-test any quoted yield against a vacancy allowance, MCST maintenance fees, property tax and any financing costs, rather than relying solely on the headline figure presented in a listing, to arrive at a realistic net return.
Is the building’s age (completed around 1983) a concern?
Building age is a genuine factor to weigh rather than a disqualifying one. At roughly four decades old, Parkway Centre’s common services — lifts, electrical systems, plumbing and fire protection — are more likely to require periodic upgrading than in a newer development, and buyers should ask the Management Corporation for records of past and planned capital works. Older buildings can also mean less efficient floor plates and lower ceiling heights than contemporary commercial stock. On the positive side, an established building has a known maintenance history and an active MCST, and its age is already reflected in the relatively accessible price point compared with newer commercial developments in the same location.
What are the odds of Parkway Centre being redeveloped or sold en-bloc?
There is no confirmed en-bloc or collective sale process underway at Parkway Centre at the time of writing. Any future collective sale would require the consent thresholds set out under the Land Titles (Strata) Act, typically 80% of share value and unit numbers for a development of this age, which can be difficult to achieve across a fragmented strata register with many small individual owners. Given the building’s mixed office-retail composition and active day-to-day usage, an en-bloc attempt is not imminent, though the ageing structure and long-term land value of the site mean it remains a theoretical possibility over a longer horizon. Buyers should treat any redevelopment upside as speculative rather than a core part of their investment thesis.
What is parking and loading access like at Parkway Centre?
As an older strata commercial building without large-format industrial loading bays, Parkway Centre offers limited on-site parking relative to its footfall, typical of buildings from this era in a dense town centre. Retail and F&B occupiers relying on deliveries should expect to use designated loading points during off-peak hours and coordinate with building management on access timing. Visitors and staff needing to drive in may find nearby public car parks, including those serving Parkway Parade, useful during peak periods when on-site lots are full. Businesses with significant vehicle-based operations, such as those needing frequent large-vehicle deliveries, should visit in person and confirm loading arrangements with the Management Corporation before committing to a unit.
What should I budget for MCST maintenance fees?
As with any strata commercial building, owners at Parkway Centre pay monthly Management Corporation Strata Title (MCST) fees to cover cleaning, security, lift maintenance, common-area utilities and a sinking fund for major repairs. Fees are typically apportioned by share value and can be higher, proportionately, in older buildings that require more frequent common-area upkeep. Prospective buyers should request the latest MCST budget, sinking fund balance and any minutes flagging upcoming major works, such as lift modernisation or facade repairs, since a special levy could otherwise arrive as an unbudgeted cost shortly after purchase. Comparing the quoted monthly fee against similar-vintage commercial buildings nearby is a useful sanity check before finalising a purchase decision.
How liquid is the resale market for units at Parkway Centre?
Resale liquidity for strata commercial units at Parkway Centre is moderate, supported by consistent listing activity and its recognisable MRT-linked location, but it is not as deep as larger, newer commercial developments with more institutional interest. Transaction volumes tend to be steady rather than high, with individual units changing hands periodically rather than in frequent bulk activity. Smaller, well-priced units in the ≈700 to 900 sqft range typically attract more buyer interest and transact faster than larger or higher-priced combined units. Sellers should expect a realistic marketing period of several months rather than a quick sale, and should price with reference to recent comparable transactions in the same building and immediate vicinity.
What types of businesses are best suited to setting up at Parkway Centre?
Given its MRT-linked, residential-facing location, Parkway Centre suits businesses that benefit from local footfall and accessibility rather than a CBD-facing corporate address. Enrichment and tuition centres, clinics and allied health practices, small accounting, legal or insurance offices, and neighbourhood-oriented service or retail businesses are common and appropriate occupiers. F&B operators can also do well at podium level given the surrounding residential density. Businesses requiring large open-plan floor plates for sizeable teams, heavy plant and equipment, or a prestige address for client-facing corporate meetings are generally better served by purpose-built Grade-A office stock elsewhere, given Parkway Centre’s smaller, fragmented unit sizes and older building specification.

This article is for general informational purposes only and does not constitute financial, investment, legal or tax advice. Figures relating to pricing, rental, tenure, GFA and completion year are drawn from publicly available listing and market sources current as at the time of writing, may include reasoned estimates where exact figures were not published, and are subject to change without notice. Prospective purchasers and tenants should conduct independent due diligence, including verification of remaining lease, permitted use, MCST records and financing eligibility, and should seek advice from a licensed real estate agent, lawyer and financial adviser before making any transaction decision.

© 2026 SG Commercial Property Insights. All rights reserved.

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