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Richfield Industrial Centre Review

Richfield Industrial Centre Review
Industrial & Commercial Property Review — District 14

Richfield Industrial Centre

An 8-storey flatted factory block with an attached terrace-factory cluster on Eunos Avenue 7 — one of the most affordably priced strata industrial addresses on the city fringe, but with a lease that is running out fast.

SGCPI Research Desk Updated 24 August 2026 122 Eunos Avenue 7, Singapore 409575 60-YR LEASEHOLD FROM 1981 — ≈15 YRS LEFT

Street-level view of Richfield Industrial Centre, 122 Eunos Avenue 7, Singapore 409575. Imagery: Google Street View (user-contributed imagery), accessed August 2026.

Project Overview

Building NameRichfield Industrial Centre
Address120 & 122 Eunos Avenue 7, Singapore 409574 / 409575
DistrictDistrict 14 — Eunos / Geylang / Paya Lebar
Tenure60-year leasehold from 14 November 1981 (≈15 years unexpired)
Zoning / UseB2 General Industrial (portions actively marketed for B1-compatible use)
Built Form8-storey flatted factory block plus attached terrace-factory cluster, ≈151 strata units in the main block
Land Area14,094 sqm (GFA not publicly disclosed)
Vacant Possession1984
Nearest MRTPaya Lebar CC9/EW8 (≈900 m); Eunos EW7 and MacPherson CC10 within ≈1 km
Key Road AccessPIE and KPE via Eunos Avenue 7 and Paya Lebar Way
Transacted PSF RangeS$211 – S$277 psf (12 months to Jul 2025, URA-recorded)
Sale Price Range≈S$480,000 – S$2.68 million (asking)
Asking Rent Range≈S$2.50 – S$3.43 psf per month (≈S$3,795 – S$6,990 monthly)
Occupier BaseWarehousing, metal and woodwork trades, light industrial and storage-heavy SMEs

Location & Connectivity

Richfield Industrial Centre occupies a well-worn but well-connected pocket of Eunos Avenue 7, tucked between the Paya Lebar and Eunos industrial belts on Singapore’s east side. Unlike outlying estates in Tuas or Woodlands, this is a genuinely city-fringe address — the kind of location where staff commute in on the same train lines they’d use to reach a CBD office, and where a factory unit sits a short drive from one of the island’s fastest-growing commercial precincts.

Connectivity here is rail-led rather than road-led, which is unusual for older industrial stock. Paya Lebar interchange station (CC9/EW8) is roughly 900 metres away — about an 11-minute walk — putting two MRT lines within easy reach, while Eunos (EW7) and MacPherson (CC10) sit within a kilometre in the other directions. Drivers reach the Pan-Island Expressway and Kallang-Paya Lebar Expressway quickly via Eunos Avenue 7 and Paya Lebar Way.

Amenity is a genuine strength. Fairprice and Cold Storage supermarkets sit nearby, and the estate is a short distance from SingPost Centre, Paya Lebar Square and the Paya Lebar Quarter (PLQ) mall — a level of retail, F&B and grade-A office spillover that few strata industrial buildings this affordable can claim. That proximity to PLQ’s ongoing commercial growth is also the main argument for the estate’s medium-term relevance, tempered heavily by how little lease term remains to capture it.

Location of Richfield Industrial Centre, 122 Eunos Avenue 7. Map data: Google Maps, accessed August 2026.

Building & Facilities

The development comprises an 8-storey flatted factory block developed by Far East Organization, given vacant possession in 1984, alongside a cluster of ground-level terrace factory units on the same plot. The main block runs on a conventional lift-served layout rather than ramp-up circulation, supported by 8 passenger and goods lifts and 12 dedicated container loading and unloading platforms at ground level — a relatively generous provision for a building of this age and footprint.

Specifications vary meaningfully by unit and by which section of the estate a listing sits in, and published figures for clear height, floor loading and per-unit power supply are not consistently available at building level. Prospective buyers should treat any figures quoted in individual listings as unit-specific rather than representative of the whole estate. An on-site canteen serves the working population, which is a useful amenity given the building’s age and the absence of ramp-up circulation.

The defining fact about this building is not its specifications but its age and its lease. At roughly 41 to 42 years old with 60 years granted from November 1981, Richfield Industrial Centre has already consumed about three-quarters of its lease term. Any due diligence here should weigh building condition and remaining term as heavily as, if not more than, the usual floor-loading and power checks.

Unit Types & Floor Plan Notes

Stock at Richfield Industrial Centre spans a wide range, from small B2 strata units in the ≈1,518 to 1,636 sqft band up to larger factory floorplates approaching 12,000 sqft. The smaller units are the most frequently transacted and let, giving the estate reasonable comparability across a large sample of recorded deals.

Entry B2 strata unit

≈1,518 – 1,636 sq ft

The most common and most liquid unit type in the estate, historically transacting in the low S$200s to high S$200s psf. Suits single-operator trading, storage and light assembly businesses working to a tight budget and a short lease horizon.

Mid-size factory unit

≈1,600 – 3,000 sq ft

A step up for occupiers needing more floor for a small production line or bulkier storage. Cargo-lift access rather than door-to-door ramp loading is the main operational trade-off compared with newer ramp-up developments nearby.

Large factory floorplate

≈5,000 – 12,262 sq ft

The upper end of the size range, used historically by warehousing and distribution occupiers needing a single large floor. Absolute quantum and the shrinking lease narrow the realistic buyer pool considerably at this size.

Terrace factory unit

Ground-level, varies

The attached terrace cluster gives some occupiers direct at-grade vehicle access without relying on the main block’s lifts — a meaningful convenience for heavier or bulkier trades such as metal and woodwork operators.

Loading: 12 container loading/unloading platforms at ground level
Vertical access: 8 passenger/goods lifts (main block); at-grade access for terrace units
Floor loading / ceiling height: ≈varies by unit — not consistently published; verify per unit before purchase
On-site amenity: canteen serving the estate
Parking / MCST: ≈lot count and service charge not publicly confirmed — request current figures from the managing agent

Investment Case

The investment case at Richfield Industrial Centre is almost entirely a lease-decay story wrapped around an unusually good location. Pricing in the low S$200s to high S$200s psf is genuinely cheap for a walk to a two-line MRT interchange and a short drive to Paya Lebar Quarter — but with only around 15 years left on a 60-year lease from 1981, this is not an asset that supports conventional bank financing or a long-hold thesis. Every argument in its favour has to be weighed against a lease clock that most other strata industrial reviews in this series don’t have to reckon with.

What Works

  • Transacted pricing of S$211 to S$277 psf is among the cheapest strata industrial stock close to the city fringe.
  • Genuine two-line MRT interchange access at Paya Lebar, within an 11-minute walk.
  • Proximity to the growing Paya Lebar Quarter precinct brings retail, F&B and white-collar spillover uncommon for industrial stock this price.
  • 12 loading platforms and 8 lifts give reasonable operational throughput for an estate of this age.
  • Low absolute quantum on entry units keeps the buyer pool open to smaller owner-occupier SMEs.

What to Weigh Carefully

  • Only around 15 years remain on the lease — most banks will not extend industrial financing on this basis, so many buyers will need to purchase in cash or with a very short loan tenure.
  • The building is over 40 years old; ask specifically about lift condition, waterproofing and any special levies under discussion.
  • No ramp-up access — loading relies on cargo lifts and ground-floor platforms rather than door-to-door delivery.
  • Building-level specifications (floor loading, clear height, power) are not consistently published and must be verified unit by unit.
  • Resale liquidity will keep narrowing as the lease shortens further, particularly past the 10-year-remaining mark.

Who This Suits

Richfield Industrial Centre suits a narrow but specific buyer: an owner-occupier SME with cash on hand (or access to non-bank financing) that values the Paya Lebar location more than the length of tenure — a trading, warehousing or light-assembly operator planning to use the unit intensively for the remaining lease term rather than treat it as a long-term capital asset. Tenants, rather than buyers, are arguably better served here: renting captures the location and pricing advantage without inheriting the lease-decay risk. Investors chasing multi-decade capital appreciation, or anyone dependent on standard bank financing tenure, should look elsewhere in the district.

Frequently Asked Questions

What business activities are permitted at Richfield Industrial Centre?
The estate is classified B2 General Industrial, a broader use category than B1 that permits general manufacturing, warehousing, workshops and trades such as metal and woodwork alongside the lighter uses typically found in B1 buildings. Ancillary office space is generally capped at 40 per cent of unit floor area under the prevailing rule, and pure retail, showroom-only or F&B use is not permitted without specific approval. Because some listings market units here as suitable for B1-style light industrial use, prospective buyers should confirm the exact permitted use of their specific unit with JTC or URA before committing, since B2 zoning can also accommodate noisier or heavier operations than a B1-only buyer might expect as neighbours.
Can foreigners or foreign-owned companies buy a unit here?
Yes. Strata industrial property is not classified as residential property under the Residential Property Act, so its foreign-ownership restrictions do not apply. Foreign individuals and foreign-incorporated companies can acquire units at Richfield Industrial Centre directly without government approval for the purchase itself. The practical complication here is the lease: with only around 15 years remaining, foreign buyers relying on financing will find lenders applying materially tighter loan-to-value ratios and shorter tenures than for longer-lease industrial stock, if financing is offered at all. Legal, tax and financing structuring should be settled well before exercising an option to purchase.
Does Additional Buyer’s Stamp Duty apply to this purchase?
No. Additional Buyer’s Stamp Duty applies only to residential property acquisitions in Singapore, so it does not apply to a B2 industrial strata purchase at Richfield Industrial Centre regardless of how many other properties the buyer already holds. Buyers should still budget for Buyer’s Stamp Duty, legal fees and potentially GST, which are addressed separately below. The absence of ABSD is one of the reasons industrial strata continues to attract investor interest even on shortening leases like this one.
How does Seller’s Stamp Duty work for industrial property?
Industrial property carries its own Seller’s Stamp Duty schedule, introduced in 2013: 15 per cent of price or market value if sold within the first year of acquisition, 10 per cent within the second year, 5 per cent within the third year, and none from the fourth year onward. At Richfield Industrial Centre this matters more than usual, because the already-short remaining lease means a buyer who also gets caught by SSD on an early exit compounds two separate sources of value erosion. A three-year-plus holding period should be treated as a minimum, not a preference. Confirm current rates with IRAS before transacting.
What Buyer’s Stamp Duty should I budget for?
Buyer’s Stamp Duty on non-residential property is tiered: 1 per cent on the first S$180,000, 2 per cent on the next S$180,000, 3 per cent on the next S$640,000, 4 per cent on the next S$500,000, and 5 per cent above S$1.5 million. On a typical S$550,000 entry-level unit at Richfield Industrial Centre, that works out to roughly S$11,100. On a larger S$1.2 million unit, the figure rises to approximately S$32,600. BSD is payable within fourteen days of the signed acceptance and must be settled in cash, as it cannot be financed through a mortgage.
Is GST payable on the purchase and on rent?
Goods and Services Tax applies where the seller is GST-registered, which is common when the vendor is a company. At the prevailing 9 per cent rate this adds a substantial sum to the purchase price, though a GST-registered buyer can generally claim it back as input tax. Where the seller is an individual not registered for GST, no tax applies on the sale. On the leasing side, rent is subject to GST only if the landlord is GST-registered; this varies unit by unit at Richfield Industrial Centre and should be confirmed directly with the listing agent or landlord.
How does the remaining lease affect financing?
This is the single most important fact about this property. With the lease running 60 years from November 1981, only around 15 years remain. Most Singapore banks require a substantially longer unexpired term — commonly 30 years or more — before extending standard industrial mortgage financing, and where financing is available at all on a lease this short, loan tenure is typically capped well below the usual 20 to 25 years, with lower loan-to-value ratios to match. In practice, many buyers at this stage of the lease cycle purchase in cash or through alternative financing rather than a conventional bank loan. Anyone considering a purchase here should speak to a lender before making an offer, not after.
What rental yield can an investor realistically expect?
Taking a typical purchase around S$250 psf against asking rents of roughly S$2.50 to S$3.43 psf per month, gross yield screens attractively in the 12 to 16 per cent range on paper — a figure driven almost entirely by the depressed capital value reflecting lease decay, not by exceptional rental demand. Net yield after MCST charges, property tax, agency commission and vacancy allowance will be meaningfully lower, and any yield calculation must also account for the capital value continuing to erode each year the lease shortens further. This is a cash-flow asset for the remaining term, not a capital-appreciation play.
Is the building’s age a concern at this point?
Yes, materially. Given vacant possession in 1984, Richfield Industrial Centre is over 40 years old — old enough that lift systems, common-area waterproofing and building services are well past their original service life and likely into at least one cycle of major replacement. Buyers should request the MCST’s sinking fund balance, minutes of recent general meetings, and details of any completed or upcoming major works before purchasing, since special levies on an ageing, short-lease building fall on an owner who may not recover that cost through resale. Building age and lease age are compounding factors here rather than separate concerns.
What are the chances of an en-bloc or redevelopment?
Harder to dismiss than at longer-lease developments, precisely because the lease itself is running out. A 60-year state lease from 1981 gives the government a natural point around 2041 to reclaim and potentially re-tender the site, and owners collectively face a shrinking asset regardless of what they do individually — a dynamic that can make collective sale or government land return more relevant here than at an estate with decades of lease still to run. That said, no en-bloc process is confirmed or announced, assembling consent across many strata owners remains genuinely difficult, and buyers should not treat this as a near-term catalyst. It is a longer-run structural feature of the lease, not a purchase thesis.
How is parking and loading handled on site?
The estate offers 12 container loading and unloading platforms at ground level, supplemented by 8 passenger and goods lifts serving the main 8-storey block, plus at-grade access for units in the attached terrace-factory cluster. This is a workable setup for an older building but falls short of the door-to-door ramp-up access found in newer B1 developments in the north and west. Confirmed lot counts and current parking or season parking arrangements are not consistently published and should be verified directly with the MCST or managing agent before purchase.
What maintenance and MCST fees should I expect?
No verified figure is publicly available for Richfield Industrial Centre specifically. Given the building’s age, service charges for older flatted factory developments of comparable vintage in the city fringe commonly run higher than newer ramp-up stock, reflecting more frequent common-property maintenance and sinking-fund contributions. Prospective buyers should request the latest MCST accounts and current per-square-foot service charge directly from the managing agent, and treat any figure quoted informally in a listing as indicative only until confirmed.
How liquid is resale at Richfield Industrial Centre?
Reasonably active for now, with URA-recorded transactions in the S$211 to S$277 psf range over the past 12 months and a wide spread of unit sizes changing hands. Smaller entry units in the 1,518 to 1,636 sqft band trade most frequently, benefiting from a lower absolute quantum. The structural constraint is the lease itself: as the unexpired term drops from roughly 15 years toward 10 and then below, the pool of financeable buyers narrows sharply, and liquidity should be expected to deteriorate over the medium term regardless of location quality.
Which business types are the best fit for this development?
The B2 zoning and lift-and-loading-platform setup suit warehousing, distribution, metal and woodwork trades, general light manufacturing and storage-heavy operations that value the Paya Lebar location and don’t require ramp-up vehicular access. Businesses drawing staff from the well-connected east side of Singapore, or wanting proximity to the Paya Lebar Quarter commercial precinct for client meetings or B2B visibility, gain the most here. Firms needing a multi-decade base, heavy financing, or operations sensitive to a shrinking lease horizon are poorly matched to this address.

Disclaimer: This review is prepared for general information only and does not constitute financial, legal, tax or investment advice. Figures marked with the ≈ symbol are reasoned estimates derived from comparable developments and listing data, not published or verified values, and all pricing, rental, specification and lease information is subject to change. Transaction and listing data referenced here reflect publicly available records as at August 2026. Readers should verify all particulars independently with the relevant authorities, the managing corporation and their own professional advisers before entering into any transaction.

© 2026 SG Commercial Property Insights. All rights reserved.

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