CommercialCOMMERCIAL & RESIDENTIALDistrict 12 · Novena

Balestier Hill Shopping Centre

Reviewed by Nathan TangUpdated 10 November 2026

Quick Summary

Balestier Hill Shopping Centre is a commercial building in District 12 · Novena, on land zoned COMMERCIAL & RESIDENTIAL under the URA Master Plan with a gross plot ratio of 3.0. 1 unit is currently listed for rent. ACRA records 28 live company registrations at this address.

The facts are here — now get the verdict on Balestier Hill Shopping Centre.

Ask PropKaki

What are the key facts about Balestier Hill Shopping Centre?

Key takeawayBalestier Hill Shopping Centre is a commercial building in District 12 · Novena, zoned COMMERCIAL & RESIDENTIAL.

Asset class: Commercial
Land-use zone: COMMERCIAL & RESIDENTIAL
Gross plot ratio: 3.0
Tenure: Not on record
District / Area: District 12 · Novena
Address: 2 Balestier Road
Land area: 17,792 sqm
Completed: 1977 (HDB Property Information)
Storeys: 4 (HDB Property Information)
Submarket: City Fringe
Listed as: Office
Transactions on record: None recorded
Live listings: 1
ACRA registrations: 28

No recorded transactions — this building has never generated a strata caveat (typically single-owner or lease-only stock). That is not missing data, and it says nothing about the building's value, occupancy or availability.

About Balestier Hill Shopping Centre

Balestier Hill Shopping Centre is a commercial building in Novena (District 12). It is located along Thomson Road, Singapore 320002.

Under the URA Master Plan it sits on land zoned commercial & residential with a gross plot ratio of 3.

It occupies roughly 17,792 sqm of land with about 53,376 sqm of gross floor area.

508 businesses are currently registered at this address with ACRA.

The nearest MRT is Novena MRT, 504 m away (about a 8-minute walk). The closest bus stop (Opp Thomson Med Ctr) is 68 m away (about a 1-minute walk). Square 2 is 493 m away (about a 8-minute walk).

What is Balestier Hill Shopping Centre zoned as?

Key takeawayBalestier Hill Shopping Centre sits on land zoned COMMERCIAL & RESIDENTIAL with a gross plot ratio of 3.0.

Land-use zone: COMMERCIAL & RESIDENTIAL
Gross plot ratio: 3.0

Run the full zoning report for this building →

What does space at Balestier Hill Shopping Centre rent for?

Key takeawayNo rent is published for Balestier Hill Shopping Centre itself. On its street, Thomson Road, retail space rented at a median of $18.37 psf a month in 2026Q3, with the middle half of leases between $11.18 and $26.32. That is not this building's own rent, and never a quote for a particular unit.

Retail space on Thomson Road

Street level · 2026Q3

25th pct

$11.18

$120.38 psm

Median

$18.37

$197.77 psm

75th pct

$26.32

$283.28 psm

S$ per sq ft per month · median +6.1% on a year earlier

2023Q4 · $181.46 psm2026Q3 · $197.77 psm median

URA's percentiles of RETAIL rents (shop, F&B, entertainment, health & fitness) across every lease stamped with IRAS on this STREET in the quarter — the street's figure, not this building's rent and never a unit's. Retail rent swings with floor and frontage, so the spread matters as much as the median. A median needs at least 2 buildings and 3 contracts (percentiles need 4); a blank means below that threshold, not zero.

Source: URA rental statistics by street (IRAS-stamped contracts).

Office space on Thomson Road

Street level · 2026Q3

25th pct

$7.95

$85.56 psm

Median

$8.45

$90.93 psm

75th pct

$8.72

$93.90 psm

S$ per sq ft per month · median +0.6% on a year earlier

2023Q4 · $78.57 psm2026Q3 · $90.93 psm median

URA's percentiles of OFFICE rents across every lease stamped with IRAS on this STREET in the quarter — the street's figure, not this building's rent and never a unit's. URA publishes a median only where the street has at least 2 office buildings and 3 contracts that quarter (percentiles need 4); a blank means below that threshold, not zero.

Source: URA rental statistics by street (IRAS-stamped contracts).

Retail space — District 12 retail

Region band · 2026Q3

25th pct

$5.52

$59.42 psm

Median

$6.71

$72.22 psm

75th pct

$8.97

$96.57 psm

S$ per sq ft per month

A REGION BAND — URA's grid for the whole district or location, not this street or building. Say "across <district/location>, …", never that this building rents for it. The middle of URA's retail grid for District 12 across every floor and size band — a ground-floor shop and an upper-floor unit sit at very different points in it.

Source: URA REALIS retail rental analysis (district × floor × size grid).

Market context around Balestier Hill Shopping Centre

Key takeawayBrokers' retail figures for this part of Singapore — a broker's market figure, not this building's rent.

CBRE, 2Q 2026 (island-wide)

Islandwide: Rent S$28.15 psf/mth

Singapore Figures Q2 2026

Cushman & Wakefield, 2Q 2026

Other City Areas: Rent S$21.21 psf/mth · Vacancy 7.4% (1Q 2026) · Planned / under construction 0.73m sq ft

Singapore Retail MarketBeat Q2 2026

Official series (URA, 2026Q3): Retail vacancy rate (Whole Island) 6.5 (-0.4 pp on the year) · Retail rental index (Central Region) 81.2 (+1.4% on the year).

Brokers draw submarkets and grades differently; each figure is the broker's own, for its own area, cited to its report. Rents are per square foot per month.

How fast units move at Balestier Hill Shopping Centre

Key takeawayBased on listings we track, as of our last check on 28 Aug 2026: 1 unit for rent.

Rent: between 6 Aug 2026 and 28 Aug 2026, 0 new listings appeared and 1 came off (sold, let or withdrawn). Days on market: not enough history yet — we began tracking on 6 Aug 2026.

One count per unit, however many agents list it. Asking prices are not tracked over time, so price cuts are not shown.

What's been approved at Balestier Hill Shopping Centre?

Key takeawayURA has approved 5 changes of use at Balestier Hill Shopping Centre since 2000, most recently in 2022. This is the building's planning history, not today's approved use of any unit: confirm a unit's approved use with URA before signing.

10 Aug 2022ApprovedFloor 1
Change of use to betting outlet
Proposed change of use of unit #01-XX to betting outlet - balestier hill shopping centre
13 Apr 2011ApprovedFloor 1
Change of use to pre natal diagnostic laboratory with ancillary office on the 2nd storey
Change of use of shop with living quarters, unit #01-XX to pre natal diagnostic laboratory with ancillary office on the 2nd storey
26 Jan 2011Agency worksFloor 1
Change of use
Proposed use: office or commercial school -unit #01-XX
26 Jan 2011Agency worksFloor 1
Change of use
Proposed use: office or commercial school - unit #01-XX
27 Feb 2002ApprovedFloor 1
Change of use to betting outlets
Retention of use of unit #01-XX on the 1st storey as betting outlets

Source: URA planning decisions (URA Data Service), matched to this building by address or land lot. A past approval can lapse (a temporary permission) and belongs to the unit it names. The authoritative approved use of a unit comes from URA's Enquiry on Approved Use of Premises (S$54.50 per unit).

How does Thomson Road price?

Strata sales on the street (5y)

Too few strata sales on this street to support a median — the count is shown without one.

Street figures cover strata deals only — land and strata PSF are not comparable.

What do commercial rents run near Balestier Hill Shopping Centre?

Key takeawayURA publishes contracted-rent percentile grids quarterly (latest: 2026Q3) — the benchmark evidence an asking rent should be weighed against.

Indicative area yield — District 12 retail

Gross yield (area)

2.9%

2.6% net of property tax

Rent side (median of bands)

$72.22 psm/mo

2026Q3

Price side (strata, 5y)

$2,767 psf

54 sales

An INDICATIVE AREA yield for District 12 retail — NOT this building's yield, and not any unit's. Commercial rents are published as a district percentile grid, so both halves describe the district.

Priced on STRATA sales only: rent is quoted per unit of lettable area, and commercial land PSF runs far above strata — mixing them would shift the ratio sharply.

Net deducts the 10% non-residential property tax ONLY — not vacancy, maintenance, agent fees, financing, or the 9% GST on purchase.

Retail rents — District 12 ($ psm/month, 2026Q3)

Floor level · size band	25th pct	Median	75th pct
Level 1 · 30 & Below	$52.08	$72.22	$91.29
Level 2 & 3 · 30 & Below	$101.58	$129.23	$143.22
Level 2 & 3 · >30 - 100	$59.42	$63.94	$96.57
Level 1 · >30 - 100	$74.07	$96.87	$116.31
Level 1 · >100 - 300	$48.14	$55.10	$60.66

URA REALIS rental-contract percentiles for the district/location — an area benchmark, not this building's own rents. Office and retail are dimensioned differently and are never mixed.

What is available at Balestier Hill Shopping Centre right now?

Key takeaway1 unit is currently listed at Balestier Hill Shopping Centre. One row per unit; several agents often market the same unit.

For rent (1)

Balestier Hill Shopping CentreS$1k/mo · 300 sqft

Browse every listing at this building →

What is near Balestier Hill Shopping Centre?

Key takeawayThe nearest MRT/LRT is Novena MRT, about 504 m away.

Getting around

Novena MRT504 m · ~8 min

Amenities nearby

Opp Thomson Med Ctr · 68 mNovena Rise Pk · 77 mOoi Clinic · 78 mEducational Institution · 94 mThomson Medical Centre · 110 mHotel · 224 mPlace Of Worship · 283 mCold Storage Singapore (1983) Pte Ltd · 396 mNovena MRT Exit A · 467 mSquare 2 · 493 m

Straight-line distances. Source: PropKaki amenities data.

Getting there and parking at Balestier Hill Shopping Centre

Key takeawayThe nearest station is Novena (NS20), 558 m away — one of the busiest stations, with about 85,000 taps in and out on an average weekday. 7 public car parks are within 500 m.

Foot traffic: busier than 50% of retail buildings

nearest MRT/LRT Novena (NS20) 558 m, about 85,000 taps a weekday; 1 more station within 1 km; bus stops within 400 m: 12, about 25,000 taps a weekday; Novena: 42,829 resident workers (Census 2020, by workplace); about 41,000 residents within 1 km (June 2026); 3 other malls within 1 km. Ranked against 12,856 retail buildings by PropKaki's model: a relative score, not a footfall count.

A relative score from PropKaki's model (station and bus taps nearby, workers and residents around, and competing malls), not a count of people.

Stations within 1 km

Novena (NS20)558 m · about 85,000 weekday taps
Toa Payoh (NS19)881 m · about 76,000 weekday taps

Taps are fare-card taps in and out at the station's gates on an average weekday (Jul 2026 to Sep 2026) — people passing through, not visitors to Balestier Hill Shopping Centre. Transfers between lines don't tap, so interchanges read low.

Bus

12 bus stops within 400 m, with about 25,000 boardings and alightings on an average weekday.

Public car parks within 500 m

Blk 2 Balestier Road (HDB)25 m
S$0.60 per half-hour at midday on a weekday · 45 car lots
Blk 1 Thomson Road (HDB)113 m
S$0.60 per half-hour at midday on a weekday · 67 car lots
Jln Raja Udang (URA)121 m
S$0.60 per half-hour at midday on a weekday · 16 car lots
Service Rd (Balestier Rd) (URA)127 m
S$0.60 per half-hour at midday on a weekday · 10 car lots
Jln Dusun (URA)248 m
S$0.60 per half-hour at midday on a weekday · 24 car lots

HDB season (car): Tier 1 $80/month (a resident's or registered HDB shop/industrial tenant's first car); Tier 2 (other cars, non-residents) $90 Rest of Island, $150 Designated Area, $165 Restricted Zone (surface). Which zone this car park is in is not published as data.

Nearest URA season parking: Balestier Road Area, 905 m away, S$90/month.

Public car parks only, by straight-line distance, with the operator's published rates. Balestier Hill Shopping Centre's own car park, if it has one, and its charges are not in the open data.

Who's registered at Balestier Hill Shopping Centre?

Key takeaway28 live companies (and LLPs and branches; sole proprietors are not counted) list Balestier Hill Shopping Centre as their registered address on its shop floor. These are registered businesses, not who occupies the space.

Construction
11
Wholesale and retail trade
8
Professional, scientific and technical services
3
Manufacturing
1
Health and social services
1
Information and communications
1
Other services
1
Accommodation and food services
1
Education
1
Transportation and storage
0

Registered businesses, not who occupies the space: companies, LLPs and branches whose REGISTERED address is this building (ACRA), by industry. Sole proprietors are not counted; no business is named. HDB block: only the shop floor (level 1 and basements) is counted; the flats above are homes. ACRA, as of 2026-09-16.

Frequently asked questions about Balestier Hill Shopping Centre

Where is Balestier Hill Shopping Centre?⌄

Balestier Hill Shopping Centre is at 2 Balestier Road, Singapore 320002, in the Novena planning area.

What is Balestier Hill Shopping Centre zoned as?⌄

Balestier Hill Shopping Centre sits on land zoned commercial & residential under the URA Master Plan, with a gross plot ratio of 3.

Have there been any recorded transactions at Balestier Hill Shopping Centre?⌄

No caveats have been lodged for Balestier Hill Shopping Centre in the URA records we track. That is common for buildings held by a single owner, which never generate strata transactions.

What is the nearest MRT station to Balestier Hill Shopping Centre?⌄

Novena MRT is the closest, 504 m away (about a 8-minute walk).

How many businesses are registered at Balestier Hill Shopping Centre?⌄

508 businesses are currently registered at this address with ACRA. That is a measure of registered addresses, not of how many businesses physically occupy the building.

For agents · in the PropKaki app

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Read the figures right

Completion year: the year HDB records the block as completed (HDB Property Information).

Storeys: the block's highest floor level as HDB records it.

Submarket: PropKaki's own map from URA's planning subzones (CBD core, City Hall / Bugis, Orchard, city fringe, regional centres, suburban). Brokers draw these lines differently.

Changes of use: URA planning approvals recorded at this building since 2000 (any unit; renewals of a temporary permission not counted). History only — Past approvals are not today's approved use; check with URA's approved-use enquiry before signing. Never say a use is allowed, permitted or approved for a unit, and never say a use would be approved.

Station taps: average weekday fare-card taps in and out at the nearest MRT/LRT station (LTA DataMall). People passing the station's gates, not people visiting this building.

Foot-traffic score: PropKaki's relative score from nearby MRT and bus taps, workers and residents around (and, for retail, competing malls), ranked against buildings of the same kind. A percentile, not a count of people.

Company REGISTRATIONS at this address (ACRA), not a tenancy schedule. Registration does not mean the company physically occupies space here, and a low count does not mean the building is empty. Do not describe this as occupancy or vacancy.

Unbuilt GFA cannot be computed here — it needs BCA built-GFA, which covers about 5% of commercial buildings and no industrial ones. Zoning and plot ratio are on record; headroom is not.

Tenure is not recorded for this building. Commercial tenure coverage is roughly 40% (industrial is far better at ~90%).

Reviewed by Nathan Tang

Nathan Tang has over 10 years of property experience across condominiums, HDB flats and commercial property, specialising in property research and finance.

Figures draw on URA and JTC records, URA Master Plan zoning, ACRA registrations and live commercial-portal listings; building facts from HDB Property Information, PropKaki's submarket map, URA planning decisions, HDB car park information (data.gov.sg), LTA DataMall passenger volumes, PropKaki's foot-traffic model — see our methodology. Last updated 10 November 2026. For general information, not financial advice.

Getting there and parking: LTA DataMall passenger volumes and car parks, URA Data Service car park rates, HDB and JTC car park information (data.gov.sg) and HDB's published parking charges, Census of Population 2020 and the Singapore Department of Statistics' June 2026 resident population (Singapore Open Data Licence). The foot-traffic score is PropKaki's own relative model, not a count.

Market context: figures cited from CBRE Research (Singapore Figures) and Cushman & Wakefield (Singapore MarketBeat), each with its quarter and report; flexible-workspace centres from the operators' public location lists; collective sales from marketing agents' announcements and news reports, each linked.

Rents: URA rental statistics for office and retail space by street (IRAS-stamped contracts), JTC J-SPACE rentals by building and by street, JTC price tenders, and URA REALIS rental grids. SLA tender results and JTC posted land rents are held for state and JTC land.