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Reebonz Building Review

Industrial & Commercial Property Review — District 18

Reebonz Building

An 8-storey ramp-up light-industrial development in Tampines North, purpose-built for warehousing, production and ancillary office use.

SGCPI Research Desk Updated August 2026 5 Tampines North Drive 5, Singapore 528548 ≈30-YR LEASEHOLD FROM 2015

Street-level view of Reebonz Building, 5 Tampines North Drive 5. Imagery: Google Street View (user-contributed imagery), accessed August 2026.

Project Overview

Building NameReebonz Building
Address5 Tampines North Drive 5, Singapore 528548
DistrictD18 — Tampines / Pasir Ris
Tenure≈30-year leasehold from ≈2015
Zoning / UseB1 Light Industrial (ramp-up, with ancillary office)
Built Form8-storey ramp-up industrial building with ancillary canteen and childcare centre
Land Area / GFA≈8,000 sqm land / ≈19,998 sqm GFA
Completion Year2018
Nearest MRTTampines North (CR6), Tampines (EW2 / DT32)
Key Road AccessTampines Avenue 11, Tampines Expressway (TPE)
Transacted PSF Range≈S$420 – S$460 psf
Sale Price Range≈S$3.5M – S$40M (strata to whole-floor)
Asking Rent Range≈S$2.20 – S$3.00 psf/month
Occupier BaseWarehousing, light manufacturing and e-commerce fulfilment tenants; formerly the headquarters of luxury retailer Reebonz

Location & Connectivity

Reebonz Building sits within Tampines North, one of the newer industrial pockets in Singapore’s East Region, positioned just off Tampines Avenue 11. The estate was developed to house light manufacturing, warehousing and logistics operators seeking proximity to the established Tampines regional centre without the rental premium of more central industrial precincts.

Connectivity is anchored by Tampines North MRT station (CR6) on the upcoming Cross Island Line, with Tampines interchange station (EW2/DT32) also within reach for staff commuting from across the island. Vehicular access is straightforward via Tampines Avenue 11 onto the Tampines Expressway (TPE), which links onward to the Pan-Island Expressway (PIE) and Kallang-Paya Lebar Expressway (KPE), keeping cargo movement to the port, airport and other industrial estates efficient.

The surrounding catchment includes Tampines Retail Park (home to IKEA, Giant and Courts), Tampines Mall, Century Square and a deep residential base across Tampines and Pasir Ris, giving occupiers reasonable access to a local workforce and amenities for staff during breaks.

Location of Reebonz Building. Map data: Google Maps, accessed August 2026.

Building & Facilities

Completed in 2018, Reebonz Building is an 8-storey ramp-up light-industrial development combining warehousing and production floors with ancillary office space. The ramp-up configuration allows vehicles to drive directly to upper floors, which is a meaningful operational advantage for tenants moving palletised goods between levels without relying solely on cargo lifts.

The building was fitted out to serve as an e-commerce and logistics hub, and it includes an approved industrial canteen and a childcare centre — facilities that are relatively uncommon in ramp-up industrial stock and which support tenants running larger onsite workforces across shift patterns. Car-parking provision is built into the development for staff and visitor vehicles.

Prospective buyers and tenants should independently verify current fire-safety certification, lift maintenance records, and any outstanding change-of-use approvals with the relevant authorities before committing, as these can affect both usability and financing timelines.

Unit Types & Floor Plan Notes

Reebonz Building has historically been marketed and transacted as a whole-building or large-floor asset rather than in small strata lots, so the unit configurations below reflect the typical space groupings occupiers and investors in this ramp-up format would evaluate.

Ground-Floor Ramp-Up Unit

≈8,000 – 15,000 sqft

Dock-level and drive-in loading access, suited to bulk storage or distribution operations requiring frequent truck turnaround.

Mid-Floor Factory Unit

≈5,000 – 10,000 sqft

Accessed via the internal ramp or cargo lift, suitable for light assembly, packing or production lines.

Upper-Floor Warehouse Unit

≈4,000 – 8,000 sqft

Lower footfall floors typically favoured for archival storage, inventory holding or back-office fulfilment.

Ancillary Office Suite

≈1,500 – 3,000 sqft

Attached office component adjoining factory floors, used for administrative, sales or management functions.

Ceiling Height: ≈6.0m – 9.0m ground floor; ≈5.0m upper floors
Floor Loading: ≈15 – 20 kN/sqm
Power Supply: ≈3-phase electrical supply, upgradable per tenant fit-out
Loading / Access: Dock-level loading bays plus ramp access to upper floors
Vertical Transport: Cargo lift and passenger lift serving all 8 floors

Investment Case

As a purpose-built ramp-up asset in a still-maturing East Region industrial precinct, Reebonz Building offers functional space at a relative discount to more established industrial belts, but the shortening lease and building’s transaction history warrant a measured view.

What Works

  • Ramp-up format enables direct vehicle access to upper floors, reducing reliance on cargo lifts alone
  • Rare ancillary canteen and childcare facilities support larger onsite workforces
  • Direct access to Tampines Avenue 11 and the TPE for efficient logistics movement
  • Proximity to the upcoming Tampines North MRT station on the Cross Island Line
  • Relatively young building stock, completed in 2018

What to Weigh Carefully

  • ≈30-year lease term means the running balance is shorter than typical 60-year JTC-style industrial leases
  • Shorter remaining lease can limit financing tenure and loan quantum from some lenders
  • Building has previously been marketed as a distressed en-bloc sale, which may weigh on buyer sentiment
  • Limited strata transaction history makes independent price benchmarking harder
  • Tampines North industrial catchment is still building up its occupier density relative to older estates

Who This Suits

Reebonz Building is best suited to logistics, e-commerce fulfilment and light-manufacturing operators who value ramp-up vehicle access and are comfortable with a shorter remaining lease horizon in exchange for a younger building and East Region connectivity. Owner-occupiers planning to hold for the balance of the lease term, or investors underwriting a shorter hold period with realistic exit assumptions, are likely to find the risk-return profile more comfortable than long-horizon strata investors seeking maximum lease runway.

Frequently Asked Questions

What is the permitted use for space in Reebonz Building?
Reebonz Building is zoned B1 Light Industrial, permitting light manufacturing, warehousing, logistics and ancillary office functions that do not generate significant noise, odour or pollution. The ramp-up format and ancillary canteen and childcare facilities support occupiers running larger onsite teams across shifts. Uses such as heavy manufacturing, or activities requiring B2 (general industrial) clearance, are typically not permitted without separate approval. Prospective occupiers should confirm their specific operational use against current URA and JTC guidelines before signing a lease or completing a purchase, as permitted-use conditions can affect financing, insurance and future subletting flexibility. Change-of-use applications, where required, should be lodged with the authorities ahead of any fit-out works.
Can foreigners purchase industrial property such as this?
Yes. Unlike residential property, Singapore does not restrict foreign individuals or foreign-owned entities from purchasing industrial property, including B1 light-industrial space such as Reebonz Building. There is no approval requirement under the Residential Property Act, since that legislation applies only to residential land. Foreign buyers should still budget for the applicable Buyer’s Stamp Duty and factor in financing constraints, as local banks may apply more conservative loan-to-value ratios and shorter tenures for non-resident industrial purchasers, particularly against a shortening lease balance. Engaging a local conveyancing lawyer and financing advisor early is recommended to structure the purchase efficiently and confirm eligibility with individual lenders.
Does Additional Buyer’s Stamp Duty (ABSD) apply here?
ABSD applies to residential property transactions in Singapore and does not apply to industrial property such as Reebonz Building, regardless of the buyer’s residency or the number of properties already owned. This is one of the key structural advantages industrial and commercial property holds over residential property for investors managing stamp duty exposure. Buyers only need to account for the standard Buyer’s Stamp Duty on the purchase price or market value, whichever is higher. That said, tax treatment can change with policy updates, so buyers should verify current rates with IRAS or a property tax advisor at the point of transaction rather than relying solely on historical rates.
Is Seller’s Stamp Duty (SSD) a concern for industrial units?
Singapore’s Seller’s Stamp Duty regime for industrial property applied to units bought and sold within a defined holding period, though the framework and applicable rates have shifted over past policy cycles, so current figures should be confirmed with IRAS before transacting. For a building like Reebonz Building, buyers intending a shorter hold period should factor potential SSD exposure into their exit modelling, particularly given the shortening lease balance that already compresses the practical investment horizon. Holding beyond the relevant SSD window generally removes this cost entirely, which is one reason many industrial investors default to medium- to long-term hold strategies rather than short-cycle flipping.
How is Buyer’s Stamp Duty (BSD) calculated on this property?
BSD for non-residential property, including industrial space at Reebonz Building, is calculated on a tiered basis against the higher of the purchase price or market valuation, with rates increasing progressively at higher price bands. For a mid-sized industrial unit priced in the low-to-mid seven figures, BSD typically works out to a few percent of transacted value, rising modestly for larger whole-floor or whole-building acquisitions. Buyers should request an updated BSD computation from their conveyancing lawyer at the point of Option exercise, since rate bands are periodically revised by the authorities and using outdated figures can lead to budgeting shortfalls at completion.
Is GST payable on the purchase?
GST treatment on industrial property depends on the seller’s GST registration status and whether the transaction is structured as a sale of a going concern. If the seller is GST-registered and the sale does not qualify for going-concern relief, GST is typically chargeable on the transaction and payable by the buyer in addition to the purchase price and stamp duties. Buyers considering Reebonz Building should clarify the seller’s GST position early in negotiations and factor any applicable GST into their total acquisition cost, since it materially affects the effective purchase price and should be reflected in financing and cash-flow planning from the outset.
How does the shortening lease affect financing?
With an estimated 30-year lease from around 2015, Reebonz Building’s remaining balance is meaningfully shorter than the 60-year terms common at other JTC-style industrial developments. Banks generally cap loan tenure so that the loan is fully repaid well before lease expiry, which for a shortening lease translates into shorter maximum tenures and, in some cases, lower loan-to-value ratios than a fresh 60-year leasehold asset would attract. Buyers should obtain an in-principle approval that reflects the actual remaining lease term before committing to a purchase, and should stress-test their holding-period assumptions against the realistic financing runway available from lenders.
What rental yield can an investor reasonably expect?
Based on an estimated asking rent range of ≈S$2.20 to S$3.00 psf per month against transacted prices of roughly ≈S$420 to S$460 psf, gross rental yields for industrial space at Reebonz Building work out to a broad ≈6% to 8.5% range before accounting for vacancy, agent fees, upkeep and financing costs. Actual achieved yield will vary by floor level, unit configuration and tenant covenant strength, and should be verified against current listings and recent comparable transactions rather than relied upon as a guaranteed outcome. Net yield after holding costs and any vacancy allowance will typically sit meaningfully below the gross estimate.
How does the building’s age factor into a purchase decision?
Completed in 2018, Reebonz Building is a relatively young asset by industrial standards, which generally means lower near-term capital expenditure on structural repairs, roofing, lifts and building services compared with older 1990s-era industrial stock. Younger buildings also tend to comply more readily with current fire-safety and accessibility codes, reducing retrofit risk for new occupiers. That said, buyers should still request maintenance records, past defect reports and any outstanding upgrading works from the current owner or managing agent, since building age alone does not guarantee the absence of deferred maintenance, particularly given the building’s history of ownership transition.
What are the odds of en-bloc sale or redevelopment?
Reebonz Building has previously changed hands through a distressed, whole-building sale process rather than a conventional collective-sale vote, so its history differs from typical strata en-bloc cases. With an estimated 30-year lease running down and JTC’s industrial land policies periodically encouraging redevelopment or lease renewal applications as leases mature, there is a plausible, though not guaranteed, pathway toward future redevelopment or a further whole-building transaction later in the lease. Buyers should not treat en-bloc potential as a primary investment thesis here, given the shorter lease runway limits redevelopment economics compared with freshly-leased sites, and should instead underwrite the asset on its operating fundamentals.
What parking and loading provisions does the building offer?
Reebonz Building includes dedicated car-parking facilities for staff and visitors as part of its original development approval, alongside dock-level loading bays and ramp access that allows vehicles to reach upper floors directly. This ramp-up configuration is a meaningful operational advantage over standard cargo-lift-only industrial buildings, particularly for tenants moving palletised or bulky goods on a frequent basis. Prospective occupiers with heavy vehicle fleets or high loading-bay turnover should verify current bay allocation, vehicle height and weight restrictions, and loading-bay booking arrangements directly with the building’s management before finalising a lease or purchase to confirm operational fit.
What maintenance or management fees should buyers budget for?
Strata-titled or multi-tenanted industrial buildings like Reebonz Building are typically managed under a management corporation or building management structure that levies monthly maintenance fees covering common-area upkeep, lift servicing, security, cleaning and sinking-fund contributions. Actual quantum varies by unit share value and building specifics, and should be confirmed directly with the current management office or the seller’s agent, since ramp-up buildings with cargo lifts, loading infrastructure and ancillary facilities such as a canteen and childcare centre can carry higher common-area running costs than a simpler stand-alone factory. Buyers should request the latest management fee schedule and any planned special levies before completing a purchase.
How liquid is the resale market for space here?
Resale liquidity for Reebonz Building appears limited to date, with available transaction records showing very few recorded strata sales, reflecting the building’s history as a predominantly whole-building or large-floor asset rather than a broadly strata-subdivided development. This thinner transaction history makes price discovery harder and can lengthen marketing periods when an owner does wish to sell, compared with more actively traded industrial estates nearby. Investors prioritising exit flexibility should factor in a longer expected marketing timeline and build in a pricing buffer against comparable properties with deeper transaction records, rather than assuming a quick resale at the most recently reported psf figure.

This article is for general informational purposes only and does not constitute financial, legal or investment advice. Figures marked with “≈” are reasoned estimates based on publicly available data at the time of writing and should be independently verified before any transaction decision. Prospective buyers and tenants should conduct their own due diligence, including consultation with qualified property, legal and financial advisors, and should confirm current zoning, lease, pricing and regulatory details with the relevant authorities and agents before proceeding.

© 2026 SG Commercial Property Insights. All rights reserved.

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