Reviews Published September 15, 2026

WIN5 @ Yishun Review

Street-level view of WIN5 @ Yishun, 15 Yishun Industrial Street 1. Imagery: Google Street View (user-contributed imagery), accessed August 2026.

Project Overview

Building NameWIN5 @ Yishun

Address15 Yishun Industrial Street 1, Singapore 768091

DistrictDistrict 27 (Sembawang / Yishun)

Tenure30-year leasehold from 5 Dec 2012 (≈16 yrs remaining as at 2026)

Zoning / UseB1 Light Industrial

Built Form9-storey ramp-up multiple-user strata industrial block, 248 units + 1 temporary ancillary canteen

Land Area / GFA≈15,000 sqm land / ≈45,000 sqm GFA

Completion Year≈2014 (TOP)

Nearest MRTYishun (NS13), ≈1.5 km; Khatib (NS14) also within driving distance

Key Road AccessSeletar Expressway (SLE), via Yishun Avenue 2 / Avenue 5

Transacted PSF Range≈S$169 – S$680 psf

Sale Price RangeS$540,000 – S$2,380,000

Asking Rent Range≈S$1,500 – S$6,800 per month (size-dependent)

Occupier BaseLight manufacturing, workshops, warehousing, showrooms, pet/lifestyle and auto-related trades

Location & Connectivity

WIN5 @ Yishun sits within the Yishun Industrial Park cluster, a pocket of B1 and B2 developments south of Yishun New Town proper. The estate is home to a mix of ramp-up factories, warehouses and strata-titled industrial blocks, giving occupiers a ready-made ecosystem of trade suppliers, logistics operators and light manufacturers within a short drive of one another.

Connectivity is workable rather than exceptional for a purely industrial address. The Seletar Expressway (SLE) is the estate’s main artery, linking the site north-south towards the Central Expressway (CTE) and onward to the rest of the island. Yishun MRT station on the North-South Line is roughly 1.5 km away — walkable in fair weather, but most occupiers and staff will drive, cycle or take a short bus or feeder-bus connection via Yishun Avenue 2 and Avenue 5.

Beyond the immediate estate, staff and visiting clients benefit from Yishun’s broader amenity base: Northpoint City mall, the Yishun Bus Interchange and a wide hawker and F&B scene are all within a 10–15 minute drive, useful for client meetings or lunch runs without leaving the wider precinct.

Location of WIN5 @ Yishun. Map data: Google Maps, accessed August 2026.

Building & Facilities

The development is a 9-storey ramp-up multiple-user industrial block comprising 248 strata units plus a temporary ancillary canteen. The ramp-up configuration allows vehicles to drive directly onto upper floors, so several levels can function as single-storey production or storage space rather than requiring goods to be moved solely by cargo lift — a layout favoured by occupiers running light assembly, storage-heavy or vehicle-adjacent trades.

Common facilities are functional rather than lavish: passenger and cargo lifts serving each floor, loading and unloading bays at ground and select upper levels, on-site car parking, a fire command centre, and shared corridors leading to the ramp access points. Units are typically handed over in bare-shell or lightly fitted condition, with mezzanine offices already built into several unit types.

Because the building sits on a 30-year lease that commenced in December 2012, prospective buyers should treat lease due diligence as a first step rather than an afterthought — verify the exact commencement date and remaining term with the vendor’s solicitor, and confirm current permitted use with URA/JTC before committing, since B1 zoning carries specific restrictions on trade mix and ancillary retail.

Unit Types & Floor Plan Notes

Unit sizes at WIN5 vary widely, from compact production units suited to solo operators and small trades through to larger combined units for warehousing or multi-function use. The wide transacted PSF range across the project reflects this size spread, along with floor-level and ramp-access differences between units.

Compact Unit

≈750 – 1,000 sq ft

Entry-level production or storage unit, suited to solo traders, small workshops and startups needing a low quantum foothold.

Mid-Tier Unit

≈1,150 – 1,600 sq ft

The most commonly transacted size band, often with a mezzanine office, popular with trading and light-assembly occupiers.

Ramp-Access Unit

≈2,000 – 2,800 sq ft

Lower/mid-floor units with direct vehicle ramp access, favoured by occupiers needing frequent loading of vans or small trucks.

Large / Combined Unit

≈3,500 sq ft and above

Merged or corner units for warehousing, larger workshops or occupiers consolidating operations under one roof.

Ceiling Height: ≈6.0m – 7.5m on ramp-up floors, lower on standard upper floors

Floor Loading: ≈10 – 15 kN/sqm (unit-dependent; verify with MCST/architect)

Vertical Access: Passenger lifts plus cargo lift, ≈2,000 kg capacity

Vehicle Access: Ramp-up access to selected upper floors; loading bays at ground level

Power Supply: 3-phase electrical supply available; capacity varies by unit and should be confirmed pre-purchase

Investment Case

WIN5’s appeal rests on accessible quantum and a genuinely functional ramp-up layout, set against the reality of a lease that is now roughly half spent. The investment case works best for buyers who plan to occupy or hold for cash flow rather than chase long-dated capital appreciation.

What Works

Low entry quantum relative to newer B1 stock in the north region
Ramp-up access supports vehicle-heavy trades without cargo-lift bottlenecks
Established industrial cluster with ready supplier and logistics ecosystem nearby
Reasonable driving access to SLE and the wider expressway network
Wide unit-size range allows flexible sizing for owner-occupiers

What to Weigh Carefully

≈16 years of lease remaining materially limits bank loan tenure and quantum
Walk to MRT is workable but not truly walkable for most users
Shortening lease will compress resale pool as the term runs down further
No confirmed en-bloc or lease-renewal pathway at this stage
Wide transacted PSF spread signals thinner, less liquid trading activity

Who This Suits

WIN5 @ Yishun suits owner-occupiers running light manufacturing, workshop, warehousing or showroom operations who want a low-quantum unit with genuine vehicle access and are comfortable operating on a lease horizon of roughly a decade and a half. It also fits cash buyers or investors seeking rental yield over a defined holding period rather than a long-term capital-growth play, given the financing constraints a shortening lease introduces. It is less suited to buyers who need maximum bank leverage, or to those underwriting a 20-plus-year hold, since the remaining tenure will keep shrinking loan-to-value ratios and narrowing the eventual buyer pool.

Frequently Asked Questions

What is WIN5 @ Yishun zoned for, and what activities are permitted?

The development is zoned B1 Light Industrial under the Master Plan, meaning permitted uses are generally limited to light manufacturing, warehousing, workshops, and ancillary office space directly supporting an industrial use. Pure retail, F&B as a primary use, or residential occupation are not allowed under standard B1 conditions, though limited ancillary showroom or office components tied to the core business may be acceptable. Buyers should always confirm the specific permitted use for their intended business against URA’s current guidelines and JTC’s industrial-use rules before purchase, since enforcement action can follow unauthorised use, and lease agreements may impose additional occupier restrictions beyond the general zoning.

Can foreigners and foreign-owned companies buy a unit here?

Yes. Singapore does not restrict foreign individuals or foreign-owned companies from purchasing strata-titled industrial property such as WIN5, unlike residential property where approval is required for landed homes. A foreign buyer can hold the unit directly or through a Singapore-incorporated company. That said, foreign buyers should still budget for the same Buyer’s Stamp Duty, potential GST, and financing considerations as local buyers, and should note that Singapore banks may apply more conservative loan-to-value ratios or require additional documentation for foreign-sourced funds. Engaging a conveyancing lawyer early is advisable to manage cross-border fund transfers and compliance checks smoothly.

Does Additional Buyer’s Stamp Duty (ABSD) apply to a purchase?

No. ABSD is a residential-property measure and does not apply to industrial units such as those at WIN5, regardless of whether the buyer is a Singapore citizen, permanent resident, foreigner, or company. This is one of the practical attractions of industrial property for portfolio diversification, since buyers are not penalised for owning multiple industrial units the way they would be for a second or third residential home. Standard Buyer’s Stamp Duty and, where relevant, Seller’s Stamp Duty still apply, so the absence of ABSD should not be read as the purchase being duty-free — only that this specific residential surcharge is not triggered.

What Seller’s Stamp Duty (SSD) applies if I sell within a few years?

Industrial property in Singapore is subject to SSD if sold within the holding period set by IRAS, currently structured on a tiered basis for the first few years of ownership, with the rate reducing the longer the unit is held before disposal. SSD is calculated on the higher of the sale price or market value and is payable by the seller. Because WIN5 already carries a shortening lease, sellers should factor SSD into their exit-timing decisions alongside the natural erosion of buyer financing options as the remaining tenure decreases, since both pressures point toward planning a hold period rather than a quick flip.

How is Buyer’s Stamp Duty (BSD) calculated on a purchase?

BSD for non-residential property such as WIN5 is charged on a progressive scale applied to the purchase price or market value, whichever is higher, with rates increasing across successive price bands up to a top marginal rate. Unlike ABSD, BSD applies uniformly regardless of buyer nationality or existing property count. Buyers should have their conveyancing lawyer compute the exact figure against the transacted price once an Option to Purchase is exercised, since the amount is payable within a fixed window after the agreement is signed. Budgeting for BSD alongside legal and financing costs upfront avoids last-minute cash-flow surprises at completion.

Is GST payable on the purchase price?

If the seller is a GST-registered entity, GST is typically chargeable on the sale of industrial property, since industrial units are treated as non-residential real estate for tax purposes, unlike GST-exempt residential sales. The rate follows the prevailing GST rate at the time of sale. Buyers purchasing from a GST-registered vendor should confirm whether the quoted price is GST-inclusive or exclusive before signing the Option to Purchase, and should note that a sale structured as a transfer of a going concern may qualify for GST relief in specific circumstances. A tax advisor or conveyancing lawyer can confirm the exact treatment for a given transaction.

How does financing work given the shrinking lease term?

This is the single most important underwriting question at WIN5. With roughly 16 years of lease remaining as at 2026, Singapore banks generally cap loan tenure to the remaining lease term, often with a buffer, which materially shortens the maximum loan period compared with a fresh 30-year or 60-year leasehold asset. Shorter tenure means higher monthly instalments for the same loan quantum, and some lenders may reduce the maximum loan-to-value ratio as the lease shortens further. Buyers should obtain an in-principle approval early, compare offers across several banks, and stress-test affordability against a shorter repayment window before committing to a purchase.

What rental yield can an investor realistically expect?

Based on current asking rents against transacted prices across the unit-size range, gross rental yields at WIN5 are broadly estimated in the region of ≈4% to ≈6% per annum, though this varies by unit size, floor level and tenant profile. Smaller units generally command a higher rent per square foot but also see more tenant turnover, while larger units offer more stable but lower psf returns. Investors should net down for MCST fees, property tax, and periodic vacancy when calculating true cash yield, and should weight the shortening lease into any long-term yield projection, since achievable rents may soften as the remaining tenure narrows further.

How does the building’s age and remaining lease affect long-term value?

WIN5 reached TOP roughly around 2014, making it a moderately established industrial asset, but the more significant factor is its 30-year lease from December 2012, leaving approximately 16 years remaining as at 2026. Unlike a 60-year or freehold industrial asset, value at WIN5 will taper more noticeably as the lease approaches its tail, since financing becomes progressively harder to obtain and the eventual buyer pool narrows to cash-rich purchasers. Long-term value here is best assessed on a use-value basis — what the space is worth to an operating business over its remaining useful life — rather than as a pure capital-appreciation asset.

What are the odds of an en-bloc sale or lease renewal?

There is no confirmed en-bloc sale or lease-renewal pathway for WIN5 at this stage, and short-leasehold strata industrial developments generally have a lower probability of collective sale than land-scarce residential sites, since redevelopment economics for industrial land are typically thinner. On expiry of the 30-year term, the default outcome under current land administration practice is reversion of the site to the state unless a lease renewal or top-up is separately negotiated and approved, which is not guaranteed. Buyers should treat any en-bloc or renewal outcome as a possible upside rather than a base-case assumption when underwriting their purchase.

What should buyers know about parking, loading and vehicle access?

WIN5’s ramp-up design allows vehicles to drive directly to several upper floors, which is a genuine operational advantage for occupiers handling frequent deliveries or running vehicle-dependent trades, reducing reliance on cargo lifts alone. On-site car parking is available for staff and visitors, alongside designated loading and unloading bays near the ground floor. Buyers and tenants running businesses with heavier vehicle traffic — vans, small trucks, frequent supplier deliveries — should physically inspect ramp gradients, bay availability and peak-hour congestion before committing to a unit, since experience can vary meaningfully between ground-floor, ramp-floor and standard upper-floor units.

What are typical MCST/maintenance fees, and how liquid is resale?

Maintenance and MCST fees at WIN5 are levied on a per-square-foot basis covering common-area upkeep, lift servicing, security and shared facilities, and should be confirmed directly with the MCST or managing agent for the specific unit under consideration, as rates can vary by unit type and floor. Resale liquidity is moderate rather than deep, reflecting both the wide transacted PSF spread seen across the project and the natural thinning of buyer demand as the lease shortens. Sellers should expect a longer marketing period than for a fresh-lease industrial asset and should price realistically against recent comparable transactions rather than aspirational figures.

Insider Rating

58/100

A workable, low-quantum entry point for owner-occupiers, but the sub-20-year lease runway calls for a hold-and-use strategy rather than a long-term capital play.

PRICE68/100

Low quantum and wide PSF range give genuine bargaining room, partly reflecting the shortened lease.

MARKET APPEAL55/100

Functional ramp-up layout and established cluster, tempered by an MRT walk that is workable, not walkable.

FUTURE DEMAND48/100

Demand should hold among owner-occupiers, but the shrinking lease will narrow the pool over time.

EXIT STRATEGY40/100

Financing constraints on a shortening lease will progressively limit the eventual buyer pool at resale.

Yishun MRT station (NS13), the nearest MRT to WIN5 @ Yishun. Map data: Google Maps, accessed August 2026.

Enquire About This Listing

Speak with the research desk for unit availability, floor plans and current asking terms at WIN5 @ Yishun.

+65 8901 7972

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