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Revenue House Review

Commercial Office Review — District 11

Revenue House

A government-anchored office landmark at the doorstep of the Newton and Novena medical, retail and residential belt.

SGCPI Research Desk Updated 25 August 2026 55 Newton Road, Singapore 307987 ≈99-YR STATE LEASEHOLD

Street-level view of Revenue House, 55 Newton Road, Singapore 307987. Imagery: Google Street View (user-contributed imagery), accessed August 2026.

Project Overview

Building NameRevenue House
Address55 Newton Road, Singapore 307987
DistrictDistrict 11 (Newton / Novena)
Tenure≈99-year State Leasehold
Zoning / UseCommercial — Office (Government & Institutional Anchor, with Ancillary Private Tenancies)
Built FormHigh-rise office tower with attached multi-storey car park
Land Area / GFA≈17,768 sqm land / ≈85,284 sqm GFA
Completion Year≈1993
Nearest MRTNovena (NS20), Newton (DT11 / NS21)
Key Road AccessNewton Road, Whitley Road, near PIE & CTE
Transacted PSF Range≈S$2,200 – S$2,800 psf (area benchmark)
Sale Price Range≈S$1.8M – S$5.5M (indicative, area benchmark)
Asking Rent Range≈S$5.50 – S$7.50 psf/month
Occupier BaseIRAS, ACRA and the Tax Academy of Singapore, plus ancillary private-sector tenants

Location & Connectivity

Revenue House occupies a prominent corner site at 55 Newton Road, sitting within the Newton and Novena micro-market that anchors District 11. The building is best known as the home of the Inland Revenue Authority of Singapore’s Taxpayer and Business Service Centre, alongside the Accounting and Corporate Regulatory Authority and the Tax Academy of Singapore, giving the address a steady stream of daily foot traffic from businesses and individuals across the island.

Connectivity is a defining strength of the site. Novena MRT Station (North-South Line, NS20) is a short walk away, while Newton Interchange (Downtown Line DT11 / North-South Line NS21) is reachable a little further down the road, giving occupiers two-line access into the rail network. Multiple bus services run along Newton Road and Thomson Road, and for drivers, the location sits close to both the Pan-Island Expressway and the Central Expressway, putting the Central Business District roughly ten to fifteen minutes away depending on traffic.

The immediate surroundings are dense with amenities. Novena Square, Velocity, Square 2 and United Square Shopping Mall provide dining, retail and healthcare-linked services within a short radius, while Cold Storage, FairPrice and Don Don Donki cover everyday grocery needs. The Novena medical cluster and Novena Church add further institutional weight to a precinct that already blends government administration, healthcare and residential estates.

Location of Revenue House. Map data: Google Maps, accessed August 2026.

Building & Facilities

Revenue House is a high-rise office development built around a large government service centre, with an attached multi-storey car park annexe that serves both visitors and tenants. The tower’s floor plates were designed for institutional-scale occupation, and the ground and lower levels are given over to service counters, self-service e-kiosks and waiting areas for taxpayers and businesses attending to IRAS and ACRA matters.

Beyond the anchor government agencies, the building carries a mix of ancillary tenants, including corporate offices such as a regional automation firm and a fitness and recreation operator, which gives the building a somewhat broader occupier base than a purely single-agency premise. Common facilities are functional and utilitarian rather than boutique, in keeping with the building’s institutional character — lift lobbies, service counters and car park access are the operational focus rather than lifestyle amenities.

Because the bulk of the building is held and operated for government use rather than sold as strata units, prospective occupiers or subtenants should verify current space availability, condition and handover terms directly with the building’s managing agency rather than relying on open-market listings, which are comparatively scarce for this address.

Unit Types & Floor Plan Notes

Revenue House is not marketed as a conventional strata-titled office building, so “unit types” here refer to the broad categories of floor space that have historically been available to ancillary and private-sector occupiers within the development, based on comparable configurations in the immediate Newton/Novena office stock.

Compact Suite

≈800 – 1,200 sqft

Entry-level office footprint suited to small professional practices or satellite teams needing proximity to government counters.

Mid-Tier Floor

≈2,000 – 3,500 sqft

Typical configuration for a growing corporate or advisory team requiring dedicated meeting rooms and reception space.

Full Floor Plate

≈8,000 – 10,000 sqft

Institutional-scale footprint, broadly reflecting the floor sizes occupied by the building’s anchor government agencies.

Ground-Level Ancillary

≈500 – 900 sqft

Retail or F&B-style ancillary space serving the daily footfall generated by taxpayer and business service visitors.

Ceiling Height: ≈2.7m typical office floor-to-ceiling
Lift Provision: Multiple passenger lift banks serving office and service-counter floors
Car Park: Attached multi-storey car park annexe
Column Spacing: ≈8m x 8m, typical of early-1990s institutional office construction
Fit-Out Condition: Varies by floor; verify handover condition with managing agency

Investment Case

Revenue House sits in an unusual position for a commercial property review: its fundamentals as a location are strong, but its investability as a private strata purchase is limited because the bulk of the building is state-held. The case below weighs the address on its locational merits alongside the practical constraints of its ownership structure.

What Works

  • Prime Newton/Novena address with direct two-line MRT access
  • Stable, high-footfall anchor tenancy from IRAS, ACRA and the Tax Academy
  • Dense surrounding amenity base — malls, healthcare, F&B, groceries
  • Strong expressway access to the CBD and Orchard Road
  • Low near-term vacancy risk given the institutional anchor

What to Weigh Carefully

  • Not strata-titled — limited avenues for private ownership
  • Subletting and space availability subject to the managing agency’s approval
  • Building age (≈30 years) implies ageing M&E systems in parts of the tower
  • Thin open-market transaction data makes pricing benchmarks indicative only
  • Any redevelopment or asset-enhancement timeline is government-driven and undisclosed

Who This Suits

Revenue House suits occupiers rather than passive investors. Tax, accounting and corporate secretarial practices that value proximity to IRAS and ACRA counters are natural fits, as are compliance-adjacent consultancies and professional services firms that benefit from being associated with the government precinct. F&B and retail operators serving the steady daily footfall of taxpayers and business visitors can also find a workable niche in the ground-level ancillary space. It is less suited to buyers seeking a conventional strata office asset for capital appreciation or straightforward resale, given the building’s largely state-held structure.

Frequently Asked Questions

What is Revenue House zoned for, and what kinds of businesses can operate there?
Revenue House is zoned for commercial office use and functions primarily as an institutional anchor for government agencies, principally IRAS, ACRA and the Tax Academy of Singapore. Alongside this government core, the building accommodates a limited number of ancillary private-sector tenants, including corporate offices and a fitness operator. Businesses considering the address should confirm with the managing agency whether their intended use — professional services, corporate office, or ground-level retail/F&B — is compatible with available space and any restrictions tied to the building’s institutional character before committing to a lease or occupation plan.
Can foreigners purchase or lease commercial space at Revenue House?
Singapore generally permits foreign individuals and entities to purchase or lease commercial property, including office space, without the restrictions that apply to certain categories of residential property under the Residential Property Act. However, because Revenue House is largely state-held rather than strata-titled, there is no open private purchase market for units within the building. Foreign businesses interested in occupying space here would typically need to explore leasing or subletting arrangements through the managing agency rather than an outright purchase, and should seek independent legal advice to confirm current eligibility and process.
Does Additional Buyer’s Stamp Duty (ABSD) apply to a purchase here?
ABSD in Singapore is levied on residential property purchases and does not apply to commercial and industrial property such as office space, which is the classification relevant to Revenue House. Buyers of commercial units elsewhere in Singapore are generally spared this residential-specific surcharge, which is one reason commercial assets often appeal to investors seeking to diversify away from residential stamp duty costs. That said, since Revenue House itself is not available through a conventional strata sale, this consideration is more relevant to comparable commercial stock in the surrounding Newton/Novena precinct than to this specific address.
Is Seller’s Stamp Duty (SSD) a concern for buyers of commercial space in this area?
SSD in Singapore currently applies mainly to residential property sold within a defined holding period, and generally does not apply to commercial or industrial property such as office units. This gives commercial buyers more flexibility to sell within a shorter timeframe without incurring the residential SSD surcharge. As with ABSD, this is most relevant to comparable strata commercial assets in the wider Newton/Novena area rather than Revenue House itself, since the building is not marketed as a conventional resale asset. Buyers should always verify current SSD rules with IRAS before transacting, as policy settings can change.
What Buyer’s Stamp Duty (BSD) would apply on a commercial purchase in this vicinity?
BSD is payable on the purchase of any property in Singapore, commercial or residential, calculated on a tiered percentage basis against the purchase price or market value, whichever is higher. For commercial transactions in the Newton/Novena area, buyers should budget for BSD as a standard upfront transaction cost alongside legal and other fees. Because Revenue House is not currently sold through the open strata market, this consideration applies more directly to comparable commercial properties nearby than to a purchase at this specific address. Engaging a conveyancing lawyer early helps buyers confirm the exact BSD payable on any intended transaction.
How does GST apply to a commercial lease or purchase near Revenue House?
Commercial property transactions in Singapore, including sales and rentals of office space, are generally subject to GST when the seller or landlord is GST-registered, unlike residential property which is typically GST-exempt. Tenants and buyers negotiating space in the Newton/Novena commercial belt should clarify with the landlord or managing agency whether quoted rents or prices are GST-inclusive, since this affects the effective cost of occupation. Businesses that are themselves GST-registered may be able to claim input tax credits, so it is worth confirming registration status on both sides before finalising any lease or purchase agreement.
How does financing work for commercial space here relative to the building’s leasehold status?
Bank financing for commercial property in Singapore is generally more conservative than residential financing, with loan-to-value ratios that account for the remaining lease term and the property’s income-generating potential. Revenue House itself sits on an estimated leasehold tenure, and because it is not conventionally available for strata purchase, financing questions are more applicable to comparable office assets nearby. For any commercial acquisition in the area, buyers should expect lenders to scrutinise remaining lease tenure, tenancy stability and rental track record closely, and should approach multiple banks early to compare indicative loan terms before committing to a purchase.
What rental yield can occupiers or investors expect in the surrounding area?
Office rental yields in the broader Newton/Novena commercial belt tend to sit in a moderate range compared with prime CBD stock, reflecting the area’s fringe-city positioning and strong but non-Grade-A office profile. Based on comparable buildings, gross yields in the vicinity are estimated at roughly three to five percent, though actual returns depend heavily on tenant mix, lease terms and building condition. Because Revenue House is predominantly government-occupied rather than let on the open market, yield figures for the building itself are not published, and investors should instead benchmark against nearby strata office comparables when assessing the district.
How does the building’s age affect due diligence for occupiers?
Completed in the early 1990s, Revenue House is now roughly three decades old, which means mechanical, electrical and lift systems in parts of the building are likely to be older-generation, even where individual floors or common areas have been refreshed over time. Prospective occupiers, particularly private-sector tenants considering ancillary space, should request details on maintenance history, any recent upgrading works and building compliance certifications before committing to a lease. Older institutional buildings can still offer solid functional space, but due diligence on building systems and any planned upgrading works is a sensible step regardless of the tenancy’s government-linked stability.
What are the odds of en-bloc sale or redevelopment at this site?
En-bloc sale in the conventional private strata sense is not applicable to Revenue House, since the building is state-held rather than owned by a body of private strata proprietors who could vote on a collective sale. Any redevelopment, asset-enhancement or relocation decision affecting the building would instead be driven by government planning and agency requirements rather than market-led en-bloc processes. This removes one common source of upside that investors look for in ageing private commercial buildings, but it also means the site’s use is unlikely to change abruptly without significant public-sector planning lead time.
What parking and loading facilities are available?
Revenue House is served by an attached multi-storey car park annexe that accommodates visitors attending to IRAS and ACRA matters as well as tenant and staff parking, with hourly and season parking arrangements typically available. Loading and unloading provisions are geared primarily toward servicing the government service counters and ancillary tenants rather than industrial-scale logistics, which is consistent with the building’s office-and-institutional character rather than a warehouse or light-industrial profile. Businesses with heavier loading or fleet requirements should confirm capacity and access hours directly with the building’s managing agency before finalising an occupation plan.
What are typical maintenance or service charges for space in this precinct?
For comparable commercial office buildings in the Newton/Novena area, monthly maintenance or service charges commonly fall in a moderate range per square foot, covering common area upkeep, security, cleaning and shared facilities management. As Revenue House is managed as a government-anchored building rather than run by a private Management Corporation Strata Title (MCST) council, any charges applicable to ancillary tenants would be set through the managing agency’s tenancy terms rather than a conventional MCST budget and AGM process. Prospective tenants should request a clear breakdown of service charges and what they cover as part of lease negotiations.
How liquid is resale or subletting here, and what business types suit the building best?
Because Revenue House is not strata-titled and is predominantly occupied by government agencies, conventional resale liquidity in the private market does not really apply, and any subletting of ancillary space is subject to the managing agency’s discretion rather than an open listings market. This makes the building better suited to occupier-driven decisions than to investors seeking exit flexibility. Businesses that benefit most are those valuing proximity to IRAS and ACRA — tax practices, corporate secretarial firms, compliance consultancies — along with retail or F&B operators able to serve the steady daily visitor footfall generated by the government service counters.

This article is compiled for general informational purposes only, drawing on publicly available sources believed to be reliable at the time of writing. Figures marked with “≈” are reasoned estimates based on comparable properties in the surrounding area and should not be treated as confirmed transacted data for this specific building. This content does not constitute financial, legal, tax or investment advice, and does not constitute an offer or solicitation. Readers should independently verify all figures with URA, SLA, IRAS, the relevant managing agency or a licensed property agent before making any decision.

© 2026 SG Commercial Property Insights. All rights reserved.

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