21 New Industrial Road up for Collective Sales
A freehold industrial property situated at 21 New Industrial Road, accessible from Upper Paya Lebar Road, has been put up for sale through an expression of interest process with a …
Space Nova Industrial
About Space Nova Industrial
Space Nova Industrial located on 21 New Industrial Road has the unique feature of a freehold B1 industrial development in one of Singapore’s most developed industrial areas. The strategic location, good transportation network and localities, facilities, modern design of ramp up and long term redevelopment potential all add to the features from Singaporean industrial property.
For businesses who are in search of a viable point of operation and for potential investors seeking to make real estate in Singapore and a fairly scarce freehold industrial property, Space Nova provides an unusual blend of functionality, ease of use and anticipated future development opportunities. With ever more industrial land coming with tighter limits and freehold opportunities becoming increasingly rare, developments like Space Nova are sure to be among the most sought-after buildings of the future.
At 21 New Industrial Road, the anticipated freehold B2 site is a part of the established Tai Seng industrial district in Singapore. With the lack of new freehold industrial launches being a growing problem, Space Nova is an avenue for investors, business owners, manufacturers, logistics operators, and industrial customers to establish a long-term asset in a mature well-connected location. The development lies on an important geographical space off Upper Paya Lebar Road, within a vibrant industrial and commercial landscape that has developed dramatically over time.
Due to its freehold tenure, industrial specifications, and accessibility, Space Nova Industrial should be one of the most desirable industrial developments in District 19. Singapore Industrial market preference has increased in the preference for quality industrial area in proximal proximity to transportation nodes and residential catchment areas. Space Nova serves to provide these market needs with a focus on operational efficiency, accessible to tenants and a secure ownership through a single development.
A host of factors set down Space Nova as an industrial development quite apart from other developments elsewhere in the market. The combination of freehold ownership, city-fringe accessibility, MRT connectivity, modern ramp-up design, spacious layout and established surrounding infrastructure is a compelling value proposition. As a result, businesses enjoy greater operational efficiency and investors get exposure to an especially precious industrial asset class. Few industrial projects can provide the perfect combination of accessibility, utility, ease and long-term ownership security. We position Space Nova as desirable as business space for business owners and for those who want a high standard of industrial property in Singapore.
A Unique Industrial Property for Freehold
Space Nova Industrial’s unique feature is freehold tenure. In the current market for industrial property, a lot of the new developments are liquidated on leasehold terms, being typically 30 years. Freehold industrial developments have become less common, often in existing industrial estates like Tai Seng. The site at 21 New Industrial Road has received a great deal of attention over the years owing to the redevelopment potential provided by its attractive location and strategic placement within the city fringe. Market observers have pointed out the rarity of these freehold industrial sites making such sites a key attraction for both owner-occupiers and investors.
For companies, freehold ownership offers certainty and operational leeway in the long run. Enterprises are free to develop their HQ, factories, storage sites or logistics centers without fear of lease loss. Freehold industrial assets and the scarcity value attached to those assets, especially in areas where industrial land availability is still limited, are also of interest to some level to investors.
Space Nova Location at 21 New Industrial Road
Location is of ever more importance in the assessment of industrial property and Space Nova finds itself strategically located along Singapore’s city-fringe industrial belt. Located at the intersection of Upper Paya Lebar Road and Bartley Road East, Space Nova location enjoys good connectivity to the major business and industrial centres in Singapore. The site itself also includes a dual road frontage on New Industrial Road and Lim Teck Boo Road that adds accessibility and visibility.
The Tai Seng precinct transformed into a vibrant business area, and includes industrial buildings, corporate offices, technology companies, food manufacturers, logistics operators, and service suppliers. The clustering of businesses that generates such an ecosystem also supports collaboration, efficiency in the supply chain, in order to grow a business. Located at the city fringe, companies have easier access to central Singapore rather than industrial estates distanced from residential and commercial districts. This availability helps businesses that meet clients all the time, have many companies in Singapore, or need workers on site.
Good Transport Connectivity and Accessibility
The transportation network of Space Nova is one of its major strengths. The development is within walking distance of Tai Seng MRT Station and Bartley MRT Station. The stations are arranged on the Circle Line, connecting not only to more diverse commercial and residential districts in Singapore.
For staff, accessibility from MRTs optimizes the flow of commuters and widens the possible talent portfolio for businesses that are within the neighbourhood. Most organizations value locations that can help employees access businesses easily today and Space Nova property has done just this. There is an equally impressive road connectivity. The development has easy access to major expressways.
- Pan Island Expressway (PIE)
- Kallang-Paya Lebar Expressway (KPE)
- Central Expressway (CTE)
The expressways link businesses and communities to Changi Airport, Jurong, Tuas, Central Business District, and the greater industrial clusters. For logistic and distribution firms, effective road connectivity means huge operational improvements and cost savings.
Nearby Amenities at New Industrial Road
A good industrial development must have both the building and the surrounding services. Occupying a commercial and industrial area that has developed into a vibrant and cosmopolitan one, Space Nova gives a great advantage in these aspects for businesses and employees. Workers at the development will have access to various dining facilities, boosting satisfaction and convenience in the office.
The products and services offered by those facilities create a more appealing working environment and help the day-to-day business as usual. Additionally, the proximity to some established residential estates including Bartley, Bidadari, Serangoon, and Woodleigh also enables a large workforce catchment area, which may be beneficial to businesses looking for professional and skilled resources.
Potential of the Site
Space Nova Industrial has a number of key supporting factors, which support its long term potential. First, freehold industrial land remains very scarce in Singapore. As industrial facilities shrink and become more scarce, freehold developments might draw more potential benefits from ongoing demand among both investors and businesses looking for long-term ownership.
Second, the site’s redevelopment history illustrates its strategic significance. Industry commentators have already identified its redevelopment potential, closer to the city-fringe, and its appeal to developers and institutional investors.
Third, the place is centrally located to position the development for last-mile logistics and distribution. Observers of the site as close to residential enclaves suggest that it will prove useful for logistics, warehousing and self-storage needs. Centrocentric facilities (centrally located industrial buildings) are projected to become more attractive, as e-commerce, urban logistics and supply chain systems shift from fixed locations. And the ongoing change in the larger Paya Lebar and Tai Seng district further increases future growth prospects. Demand for quality industrial space may extend to new commercialization, infrastructure and business growth in the district.
Space Nova Specification
| Project | Space Nova |
| Developer | JVA NIR Pte Ltd |
| Address | 21 New Industrial Road |
| Tenure: | Freehold |
| Zoning | B1 Industrial |
| Total Units | 47 |
| Expected TOP | 2028 |
| Carpark Lots | 23 |