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Shun Li Industrial Park Review

Shun Li Industrial Park Review
Industrial & Commercial Property Review — District 14

Shun Li Industrial Park

A large-format B2 strata estate in Kaki Bukit, priced for occupiers who need floor area rather than address.

SGCPI Research Desk Updated 24 August 2026 61 Kaki Bukit Avenue 1, Singapore 417943 60-YR LEASEHOLD FROM 30 OCT 1996

Street-level view of Shun Li Industrial Park, 61 Kaki Bukit Avenue 1, Singapore 417943. Imagery: Google Street View (user-contributed imagery), accessed August 2026.

Project Overview

Building NameShun Li Industrial Park
Address61 Kaki Bukit Avenue 1, Singapore 417943
DistrictDistrict 14 — Kaki Bukit, Bedok planning area
Tenure60-year leasehold from 30 October 1996, expiring 29 October 2056
Zoning / UseB2 Industrial — Factory / Workshop
Built Form119 three- and four-storey terrace factories plus one six-storey flatted factory and warehouse block of 237 units
Land Area / GFA75,365 sqm site, roughly 811,000 sq ft; GFA ≈152,824 sqm, ≈1,645,000 sq ft
Completion Year≈2000
Nearest MRTKaki Bukit DT28 (≈530–600 m); Bedok North DT29
Key Road AccessPIE, KPE and ECP via Kaki Bukit Avenue 1 and Bedok Reservoir Road
Transacted PSF Range≈S$350–S$840 psf, with most 2025 deals ≈S$370–S$510 psf
Sale Price RangeS$1.10 million to S$7.96 million
Asking Rent Range≈S$1.80–S$2.80 psf per month for factory and warehouse space
Occupier BaseAround 250 registered businesses; SME logistics, fabrication, packaging, fulfilment and trade suppliers

Location & Connectivity

Shun Li Industrial Park occupies a substantial frontage along Kaki Bukit Avenue 1, inside the Kaki Bukit industrial belt in the Bedok planning area. At roughly 811,000 sq ft of land, it is one of the larger privatised strata industrial estates in eastern Singapore, and it functions less like a single building than a small industrial precinct with its own internal road network and roughly 250 operating businesses.

Rail access is unusually good for a B2 estate of this vintage. Kaki Bukit station on the Downtown Line sits about 530 to 600 metres away, a walk of five to eight minutes, with Bedok North station a second option further east. The Downtown Line links staff directly to Bugis, Chinatown and the CBD without a transfer. For vehicles, the PIE, KPE and ECP are all within a short drive, and Changi Airport and the airfreight centre are typically 15 to 20 minutes away outside peak hours.

Day-to-day amenity is handled largely on site. Two large canteens serve the estate, supported by ancillary shops at ground level and further food options in the neighbouring Kaki Bukit Techpark buildings. The Bedok Reservoir HDB estate immediately across the road adds supermarkets, coffee shops and a hawker centre, which matters more than it sounds for shift-based operations and for retaining warehouse staff.

Location of Shun Li Industrial Park, Kaki Bukit Avenue 1. Map data: Google Maps, accessed August 2026.

Building & Facilities

The estate splits into two distinct products. The first is a run of 119 terrace factories of three and four storeys, each with its own entrance, ground-floor roller shutter and private frontage. The second is a six-storey flatted factory and warehouse block holding 237 strata units in a wide spread of sizes. Together that is around 356 units, which explains both the depth of stock and the range of pricing recorded across the development.

Servicing in the flatted block is the estate’s practical strength. Units are typically supplied with three-phase 63-amp power, floor-to-ceiling height of about 3.6 metres, and five cargo lifts positioned along the corridor so that goods movement does not queue behind a single core. The loading and unloading bay accepts 40-foot containers, which is not a given in older flatted factories. Parking is provided both outdoors and in a basement deck, and the two canteens absorb a lot of the lunchtime pressure that would otherwise spill onto Kaki Bukit Avenue 1.

Buyers should treat the age of the asset as a due-diligence item rather than a deal-breaker. Confirm the permitted use for the specific unit against the approved use register before committing, since B2 approval at estate level does not guarantee approval for every trade. Ask the managing agent for the sinking fund position, recent lift and fire-protection upgrade records, and any outstanding structural works. Where heavy machinery is planned, commission a floor-loading check rather than relying on the estate-wide figure.

Unit Types & Floor Plan Notes

Stock here is genuinely varied, and the price per square foot moves sharply with unit type. Small partitioned rooms inside the flatted block transact on a completely different basis from a whole terrace factory, so comparing headline PSF across the estate without matching the product type will mislead you. The four groupings below reflect what actually appears on the market.

Flatted — compact

≈1,000–1,600 sq ft

Entry quantum for small trade, service and backend operations. Regular rectangular plates, corridor access to the cargo lift lobby, minimal ancillary office fitted. Cheapest way into the estate, but the tightest for goods handling.

Flatted — mid-plate

≈2,000–3,300 sq ft

The most liquid size band, and where most recorded transactions sit. Enough depth for racking plus a partitioned office, with the 3.6-metre ceiling allowing two-tier storage. Usually the easiest unit type to re-let.

Terrace factory

≈5,000–7,000 sq ft

Three- or four-storey terrace with private ground-floor loading and exclusive frontage. Suits owner-occupiers wanting a single address and signage. Vertical circulation is the trade-off, since stock must move floor to floor.

Large / combined

≈8,000–9,000 sq ft

Amalgamated flatted plates or a full terrace with attic. Priced at the lower end of the PSF band because quantum narrows the buyer pool. Best value per foot, weakest resale liquidity.

Ceiling height: 3.6 m in the flatted block; ≈4.0–4.5 m at terrace ground floor
Power supply: three-phase, 63 amps typical per flatted unit
Vertical transport: 5 cargo lifts serving the flatted block, plus ≈4 passenger lifts
Loading: bay configured to accept 40-foot containers
Floor loading: ≈10–15 kN per sqm upper floors; ≈20 kN per sqm at ground

Investment Case

The investment question at Shun Li is straightforward: you are buying usable industrial floor area at one of the lower entry points available within walking distance of a Downtown Line station, in exchange for accepting a lease that runs out in 2056. Whether that trade works depends almost entirely on your holding horizon.

What Works

  • Rail-connected B2 space at a fraction of city-fringe industrial pricing.
  • Deep, varied stock across 356 units means real choice and genuine comparables.
  • Container-capable loading bay and five cargo lifts handle serious goods flow.
  • Around 250 sitting businesses give the estate a self-sustaining tenant pool.
  • Low entry quantum from roughly S$1.1 million widens the buyer base.

What to Weigh Carefully

  • Roughly 30 years of lease left, and the decay curve steepens from here.
  • Bank financing tightens sharply as remaining tenure falls below 30 years.
  • Building services date from around 2000 and need capital attention.
  • Wide PSF spread makes valuation genuinely difficult without matched comparables.
  • Large units carry the weakest resale liquidity in the estate.

Who This Suits

This estate suits the owner-occupier far better than the passive investor. An SME that needs 2,000 to 7,000 sq ft of workable industrial space, moves goods by container or lorry, and can amortise the purchase across a 15 to 20 year operating horizon will find little that competes on cost this close to an MRT station. Fabricators, packers, fulfilment operators, equipment distributors and service contractors all fit the built form. Investors chasing capital appreciation should be more cautious: with the lease running to 2056, the return here is income and occupancy cost saved, not exit value.

Frequently Asked Questions

What uses are permitted under the B2 zoning here?
B2 zoning permits light and general industrial activity with a heavier pollution tolerance than B1, covering fabrication, assembly, warehousing, packaging, repair and related trades. Ancillary office is normally capped at a proportion of floor area, and showroom or retail use is generally not allowed without specific approval. Critically, estate-level B2 approval does not automatically extend to your particular trade, since certain processes require separate clearance from the relevant agencies. Always match your intended activity against the approved use of the specific unit before signing, and factor in any fire safety or effluent requirements your process triggers.
Can foreigners or foreign-owned companies buy a unit?
Industrial property in Singapore falls outside the Residential Property Act, so foreign individuals and foreign-incorporated companies can purchase strata industrial units without needing approval from the Land Dealings Approval Unit. That said, ownership and occupation are separate questions. Privatised estates like this one may still carry anchor-tenant or minimum-occupation conditions attached to the head lease, and lenders often apply stricter loan-to-value ratios to foreign buyers. Overseas purchasers should also plan for a Singapore-registered entity if the unit will be operated rather than simply held, and should verify any subletting restrictions before committing capital.
Is Additional Buyer’s Stamp Duty payable, and how is Buyer’s Stamp Duty calculated?
Additional Buyer’s Stamp Duty applies to residential property only, so an industrial purchase at Shun Li does not attract it regardless of how many properties you already own or your residency status. Buyer’s Stamp Duty does apply, calculated on the higher of purchase price or market value using the non-residential schedule, which steps upward through several bands as the consideration rises. On a unit at around S$1.5 million, that typically works out to a mid five-figure sum. Budget for it in cash at completion, and confirm current rates with your conveyancing lawyer since the schedule is periodically revised.
How does Seller’s Stamp Duty work on industrial property?
Industrial Seller’s Stamp Duty operates on a three-year holding period and is charged on the higher of sale price or market value. Selling within the first year attracts the steepest rate, with the charge stepping down across the second and third years before falling away entirely after three years. This is a meaningful constraint for anyone treating the purchase as a short-term trade, because the duty can easily erase any near-term capital gain. Plan a minimum three-year hold, and note that the clock runs from the date of acquisition rather than from completion or from when you take occupation.
Is GST charged on the purchase price?
If the seller is GST-registered, the sale of an industrial unit is a taxable supply and GST applies on top of the purchase price. Where the seller is an individual not registered for GST, no tax is charged. GST-registered buyers can usually claim the tax back as input credit, which softens the cash impact but not the timing, since the money leaves your account at completion and returns only at the next filing. Rental is treated the same way. Establish the seller’s GST status early, because on a multi-million dollar quantum the working capital difference is substantial.
How does the remaining lease affect financing?
This is the single most important commercial variable here. With the lease running from October 1996 for 60 years, roughly 30 years remain as at 2026. Most Singapore banks want the loan tenure plus the borrower’s age to sit comfortably inside the remaining lease, and many apply a buffer that shortens the maximum tenure sharply once the balance drops under 30 years. Expect a lower loan-to-value ratio, a shorter repayment period and therefore higher monthly instalments than a comparable 30-plus year asset. Get an indicative offer from at least two lenders before you commit to a price.
What rental yield is realistic?
Working from asking rents of roughly S$1.80 to S$2.80 psf per month against transacted prices in the S$370 to S$510 psf band, gross yields on a mid-plate flatted unit typically land in the mid to high single digits. Net yield after property tax, service charge, insurance, agency commission and periodic reinstatement or fit-out contribution will be materially lower. Older estates also carry a higher vacancy risk between tenancies. Treat any headline yield quoted on a listing with care, since small partitioned office rooms in this estate rent at far higher psf rates and distort the estate-wide average.
Does the building’s age affect running costs?
Yes, and it should be priced in. The estate completed around 2000, so lifts, fire protection systems, roofing, external finishes and common-area electrical distribution are all approaching or past a typical replacement cycle. Larger works are funded through the sinking fund, which means either a healthy balance or the prospect of special levies falling on owners. Individual units may also need rewiring or waterproofing on handover. Ask the managing agent for the last three years of accounts and the maintenance schedule before you offer, and treat a thin sinking fund as a genuine negotiating point.
What are the chances of a collective sale or redevelopment?
Low in the near term, for structural reasons rather than sentiment. Achieving the required consent across roughly 356 strata owners spread over two very different built forms is difficult, and the site already carries a plot ratio near 2.0, so the uplift available from redevelopment is limited. A shortening lease also complicates the economics, since a developer would need to negotiate a lease top-up with the authorities. Buyers should underwrite this asset on its occupational and income merits alone and treat any collective sale outcome as an unpriced possibility, not part of the investment thesis.
How good is parking and loading access?
Better than most flatted factories of this era. The estate provides outdoor parking across its internal roads plus a basement deck, so staff and visitor parking rarely competes with goods vehicles. The flatted block’s loading bay is configured for 40-foot containers, and five cargo lifts spread the load rather than funnelling everything through one core. Terrace factory units have their own ground-floor roller shutters and private forecourt space. Peak-hour congestion on the internal roads is the main friction, particularly at lunchtime around the canteens, so schedule inbound deliveries outside the midday window.
What do maintenance and MCST charges look like?
Service charges for strata industrial estates of this size and specification typically fall in the region of S$0.22 to S$0.32 psf per month, covering security, cleaning, lift maintenance, common-area power and contributions to the sinking fund. On a 2,500 sq ft unit that is roughly S$550 to S$800 monthly. The figure varies with the block and the current budget, and it can rise if major capital works are approved. Request the current schedule and the last annual general meeting minutes rather than accepting an agent’s estimate, since approved but unbilled works may already be committed.
How liquid is resale here?
Liquidity varies sharply by unit size. Mid-plate flatted units of roughly 2,000 to 3,300 sq ft trade most readily, because the quantum sits within reach of the SME buyer pool and the layout suits the widest range of trades. Terrace factories move more slowly but attract owner-occupiers willing to pay for frontage. Large amalgamated units and full terraces with attics are the hardest to exit, since few buyers need that footprint and financing on a shortening lease compounds the difficulty. Expect a longer marketing period than a comparable freehold or 60-year-fresh asset.
Which business types are the best fit for this estate?
Operations that move physical goods and value floor area over address. Third-party logistics and fulfilment operators benefit from the container-capable bay and cargo lifts. Fabricators, joinery and metalwork shops, packaging firms, equipment distributors and maintenance contractors all sit naturally within the B2 envelope. Backend operations that pair a warehouse with a small support office also work well given the ancillary office allowance. Businesses needing a client-facing showroom, heavy customer footfall or a prestige address will find the estate a poor match, and pure office users are better served elsewhere in District 14.

Disclaimer: this review is published for general information only and does not constitute investment, legal, tax or valuation advice. Figures marked with the approximate symbol are estimates derived from comparable assets and public listing data, and have not been independently verified. Transacted prices, asking rents, tenure details, service charges and permitted use should be confirmed against official records and professional advice before any transaction. Map and street-level imagery is supplied by Google and may not reflect current site conditions.

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