+65 8901 7972
中文 EN
Singapore Commercial Property
Back to Blog
Reviews Published

The Spire Review

The Spire Review
Industrial & Commercial Property Review — District 23

The Spire

A mature flatted-factory workhorse off Bukit Batok Crescent, priced for cash-flow buyers rather than capital-growth chasers.

SGCPI Research Desk Updated August 2026 10 Bukit Batok Crescent, Singapore 658079 60-YR LEASEHOLD FROM 1997

Street-level view of The Spire, 10 Bukit Batok Crescent. Imagery: Google Street View (user-contributed imagery), accessed August 2026.

Project Overview

Building NameThe Spire
Address10 Bukit Batok Crescent, Singapore 658079
DistrictD23 — Bukit Batok / Hillview / Choa Chu Kang
Tenure60-year leasehold from 1997
Zoning / UseB1 Light Industrial
Built FormFlatted light industrial block, ≈11 storeys
Land Area / GFA21,352 sqm land / 53,380 sqm GFA
Completion Year2002
Nearest MRTBukit Batok (NS2), ≈1.5km
Key Road AccessBukit Timah Expressway (BKE), Pan Island Expressway (PIE)
Transacted PSF Range≈S$424 – S$529 psf (trailing 12 months)
Sale Price Range≈S$750,000 – S$1,300,000
Asking Rent Range≈S$1.90 – S$2.50 psf/month
Occupier BaseSME workshops, logistics, storage and light assembly tenants

Location & Connectivity

The Spire sits within Singapore’s western industrial belt, tucked into Bukit Batok Crescent just off the main Bukit Batok Street 23 corridor. The immediate surrounds are dominated by other flatted-factory and light industrial developments, giving the estate a settled, working-district character rather than a mixed-use commercial feel. Occupiers here are typically drawn from the surrounding Bukit Batok, Hillview and Jurong catchment rather than from further afield.

Connectivity is functional rather than exceptional. Bukit Batok MRT Station (North-South Line) is roughly 1.5km away, a walk most tenants and staff would cover by shuttle bus or private transport rather than on foot, while Jurong East interchange is a short drive further south. For goods movement, the development benefits more from its road position: the Bukit Timah Expressway and Pan Island Expressway are both readily accessible, supporting distribution and trade businesses that rely on quick access across the island.

Nearby amenities are modest but adequate for a workday population — eateries at S11 @ Bukit Batok, a Shop N Save supermarket within walking distance, and the larger IMM and West Mall retail clusters a short drive away for banking, F&B and errands during lunch or after work.

Location of The Spire. Map data: Google Maps, accessed August 2026.

Building & Facilities

Completed in 2002, The Spire is a flatted light industrial block served by four passenger lifts and two dedicated cargo lifts, a ratio that comfortably supports both office-style foot traffic and heavier goods movement to upper floors. Corridors are built wide to allow trolleys and bulky items to pass, and units are generally handed over with vinyl or cement-screed flooring depending on the unit’s transaction history.

Common facilities are utilitarian rather than lifestyle-oriented, in keeping with its B1 classification: ample surface and covered car parking, ground-floor loading bays, and standard fire and mechanical services shared across the strata. Ceiling heights in most units run high enough to accommodate racking or light assembly lines, and several units carry full air-conditioning fit-outs from prior tenancies.

Prospective buyers should budget for a pre-purchase inspection given the building’s age — now approaching a quarter-century — with particular attention to lift maintenance records, common-area water ingress, and the condition of individual unit air-conditioning and electrical fit-outs, none of which are guaranteed to be current.

Unit Types & Floor Plan Notes

Strata units at The Spire span a wide size range, reflecting decades of subdivision and combination by successive owners. Layouts are largely rectilinear factory floors with a small ancillary office or mezzanine zone near the entrance in most configurations.

Compact Unit

≈1,200 – 1,600 sqft

Entry-level strata size favoured by solo operators and small trading firms; lowest absolute quantum in the building.

Mid-Tier Unit

≈1,600 – 2,200 sqft

The most commonly transacted size band, suiting workshops with a small front office and rear storage or assembly area.

High-Floor Corner Unit

≈2,200 – 2,800 sqft

Corner or high-floor positions with better natural light and views; typically command a modest premium per square foot.

Combined / Dual-Key Unit

≈2,800 – 3,600 sqft

Merged adjoining lots suited to larger operations or investors seeking to sub-divide and lease to two tenants.

Ceiling Height: ≈4.5m – 5.5m clear, sufficient for light racking
Floor Loading: ≈7.5 – 10 kN/sqm, typical for B1 flatted factory stock
Lift Provision: 4 passenger lifts, 2 cargo lifts serving all floors
Loading Bays: Ground-level bays with lorry and van access
Car Parking: Ample surface and covered lots, season parking available

Investment Case

The Spire’s appeal is straightforward: it offers genuine, functioning B1 industrial space at a meaningful discount to newer developments, in an estate with steady if unspectacular SME demand. It is not a redevelopment or capital-appreciation play — the case here rests on rental cash flow and a low entry quantum.

What Works

  • Transacted prices of ≈S$424–529 psf sit well below newer B1 stock in the west
  • Full cargo and passenger lift provision suits logistics, trading and light assembly tenants
  • Reasonable road access via BKE and PIE for island-wide distribution
  • Broad range of strata sizes supports both owner-occupiers and investors
  • Ample parking and loading bays relative to unit count

What to Weigh Carefully

  • ≈31 years remain on the lease, narrowing the financing and eventual resale window
  • Building fabric and M&E systems are now over two decades old
  • B1 zoning strictly limits permitted use to light industrial and ancillary office activity
  • Limited on-site F&B or retail; tenants rely on nearby S11 and IMM
  • Fragmented strata ownership makes en-bloc consolidation unlikely in the near term

Who This Suits

The Spire suits SME manufacturers, trading and logistics operators, and small workshop businesses that need functional B1 space near the Bukit Batok–Jurong corridor without paying premium new-build rates. It also suits yield-focused investors comfortable running the lease-decay math on a sub-S$1.5 million industrial unit, particularly those who already hold or manage other flatted-factory assets and can absorb the building’s age in exchange for a lower entry price and steady rental demand from the surrounding estate.

Frequently Asked Questions

What is the zoning and permitted use at The Spire?
The Spire is zoned B1 Light Industrial under URA’s Master Plan, which permits light manufacturing, assembly, warehousing, and ancillary office use directly supporting the approved industrial activity. It does not permit standalone retail, F&B, or general office use as a primary function — any office component must remain subordinate to the industrial use, typically capped around 40% of floor area under prevailing guidelines. Buyers intending to run a pure office, showroom, or retail operation should confirm feasibility with URA or a qualified planning consultant before committing, as enforcement action can follow unauthorised use. This is a common due-diligence gap for first-time industrial buyers and one worth verifying against the specific unit’s approved use before signing an option to purchase.
Can foreigners buy a unit at The Spire?
Yes. Unlike residential property, industrial and B1 commercial units such as those at The Spire are not restricted under the Residential Property Act, so foreign individuals and foreign-owned companies can generally purchase without prior government approval. This makes industrial strata a comparatively accessible asset class for overseas investors seeking Singapore-dollar exposure. That said, foreign buyers should still budget for the same stamp duties as local buyers, factor in financing limitations some banks apply to non-resident borrowers, and consider engaging a local property manager given the hands-on nature of managing SME industrial tenants from abroad, particularly around lease renewals and unit condition checks.
Does Additional Buyer’s Stamp Duty (ABSD) apply?
No. ABSD applies specifically to residential property purchases in Singapore and does not extend to industrial or B1 commercial units like those at The Spire, regardless of whether the buyer is a Singapore citizen, permanent resident, foreigner, or company. This is one of the more attractive structural features of industrial property for investors who already own multiple residential properties and would otherwise face steep ABSD rates on further residential purchases. Buyers should still budget for standard Buyer’s Stamp Duty and, if applicable, GST, and should not assume ABSD-free status extends to any residential component within a mixed-use development, which does not apply here.
Is GST payable on the purchase price?
It depends on the seller’s GST registration status. If the seller is a GST-registered entity — commonly the case for corporate or investor-held units — GST at the prevailing rate is typically payable on top of the purchase price for a commercial or industrial property, since these are treated as taxable supplies under Singapore’s GST regime. If the seller is an individual not registered for GST, no GST applies. Buyers financing through a bank should confirm with their lender whether GST is bankable as part of the loan or must be paid in cash upfront, as this materially affects the total cash outlay required at completion.
What about Seller’s Stamp Duty (SSD) if I resell early?
Industrial property in Singapore carries its own SSD regime, separate from residential rules. Units held and sold within three years of purchase attract SSD on a sliding scale, with the highest rate applying to disposals within the first year and reducing progressively for the second and third years, before dropping to zero from the fourth year onward. This is designed to discourage short-term flipping of industrial strata units. Buyers at The Spire planning a quick resale or those uncertain about their holding horizon should factor SSD into their exit modelling, as it can meaningfully erode returns on a fast turnaround compared with holding through the full three-year window.
How much Buyer’s Stamp Duty (BSD) applies?
BSD for non-residential property, including B1 units at The Spire, is calculated on a tiered basis applied to the purchase price or market value, whichever is higher, and applies uniformly regardless of the buyer’s residency or citizenship status. Unlike residential BSD, industrial BSD rates are generally lower and the tiers simpler, making the upfront tax cost more predictable. Buyers should compute BSD early in their budgeting process, alongside legal fees and any applicable GST, since it is due shortly after the exercise of the option to purchase and forms part of the cash required at that stage of the transaction, separate from the loan quantum.
How does the remaining lease affect financing?
With ≈31 years left on The Spire’s 60-year lease from 1997, banks will typically cap the loan tenure so that the lease does not expire during the mortgage period, often applying a formula tied to the borrower’s age plus loan tenure against the remaining lease. This generally means shorter maximum loan tenures than a fresh 60-year industrial lease would allow, and correspondingly higher monthly instalments for the same loan quantum. Some lenders also apply more conservative loan-to-value ratios on ageing industrial leases. Buyers should get an in-principle approval early to understand exactly how much financing is available before committing, as this varies noticeably between banks for older leasehold industrial stock.
What rental yield can owners expect?
Based on current asking rents of roughly S$1.90–S$2.50 psf per month against transacted prices of ≈S$424–529 psf, gross rental yields at The Spire typically work out in the region of 4.5% to 6% per annum, which is broadly competitive for ageing B1 stock in the western industrial belt. Actual net yield will be lower after accounting for MCST fees, property tax, agent commissions on tenant turnover, and periodic vacancy between leases. Investors should stress-test their yield assumptions against realistic vacancy periods, since SME industrial tenants can churn more frequently than office or retail tenants, particularly in units without long-term fitted-out infrastructure.
How does the building’s age affect maintenance?
Completed in 2002, The Spire is now approaching a quarter-century old, meaning major building systems — lifts, fire services, roofing, and common electrical infrastructure — are past their original design life and increasingly subject to repair or replacement cycles. This typically translates into higher and less predictable MCST costs over time compared with newer developments, and buyers should review recent MCST meeting minutes and any sinking fund adequacy reports before purchase. At the unit level, individual air-conditioning, wiring, and flooring should also be inspected, since fit-out condition varies significantly between units depending on the previous tenant’s use and how well the space was maintained during their occupancy.
What are the odds of en-bloc redevelopment?
En-bloc potential at The Spire appears low in the near to medium term. Flatted factory developments with large numbers of small strata owners typically face significant coordination challenges in reaching the requisite consensus for a collective sale, and with ≈31 years of lease remaining, the economics of a fresh 60-year land tenure reset are not yet compelling enough to drive owner consensus. Buyers should not factor en-bloc upside into their investment case here; instead, The Spire is better modelled as a hold-to-rent asset with a defined lease horizon, where returns come primarily from rental income rather than a redevelopment windfall.
What parking and loading provisions exist?
The Spire provides ample surface and covered car parking relative to its unit count, with season parking available for tenants and staff, along with ground-floor loading bays designed for lorry and van access. This is a meaningful practical advantage for logistics, trading, and light manufacturing tenants who need regular goods movement in and out of the building. Two dedicated cargo lifts support vertical movement of bulky items to upper-floor units, reducing wait times compared with buildings relying solely on passenger lifts for freight. Prospective tenants with larger vehicles or frequent deliveries should confirm bay availability and access hours directly with the MCST managing agent.
What are typical MCST/maintenance fees?
MCST maintenance fees at The Spire generally run in the range of a few hundred Singapore dollars per month per unit, varying with strata size, though buyers should verify the current figure directly with the managing agent as fees are periodically revised to reflect rising maintenance and utility costs on an ageing building. Property tax is levied separately by IRAS based on the unit’s annual value and is payable regardless of occupancy status. Together these recurring costs should be built into any yield calculation, since they can represent a meaningful share of gross rental income, particularly for smaller units where fixed costs are less diluted across floor area.
How liquid is resale at The Spire, and what business types suit it?
Resale liquidity is moderate — transactions occur regularly given the building’s established track record and broad range of unit sizes, but buyers should expect a longer marketing period than for newer, more sought-after industrial developments, particularly for larger or less conventionally shaped units. Business types best suited to the space include SME manufacturers, warehousing and distribution operators, trading firms, vehicle-adjacent workshops, and light assembly businesses that value the combination of cargo lift access, loading bays, and expressway proximity over prestige or footfall. Buyers should engage an agent familiar with the estate’s transaction history to set realistic pricing and timeline expectations before listing.

This article is provided for general informational purposes only and does not constitute financial, legal, or investment advice. Figures marked with “≈” are estimates based on publicly available listings and transaction data and should be independently verified before making any purchase or investment decision. Prospective buyers should conduct their own due diligence, including a physical inspection, and consult qualified professionals — including a licensed property agent, lawyer, and financial adviser — before proceeding with any transaction.

© 2026 SG Commercial Property Insights. All rights reserved.

Back to Blog
WhatsApp