CommercialCOMMERCIAL & RESIDENTIALConservationFreeholdDistrict 12 · Novena

Goodwill Mansion

Reviewed by Nathan TangUpdated 8 November 2026Data through Jun 1996

Quick Summary

Goodwill Mansion 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. It is freehold. 1 transaction is on record since 1995, most recently in Jun 1996. ACRA records 6 live company registrations at this address.

The facts are here — now get the verdict on Goodwill Mansion.

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What are the key facts about Goodwill Mansion?

Key takeawayGoodwill Mansion is a commercial building in District 12 · Novena, zoned COMMERCIAL & RESIDENTIAL, held freehold.

Asset class: Commercial
Land-use zone: COMMERCIAL & RESIDENTIAL
Gross plot ratio: 3.0
Tenure: Freehold
District / Area: District 12 · Novena
Address: 355 Balestier Road
Land area: 857 sqm
Completed: Not on record
Storeys: 4 (© OpenStreetMap contributors)
Submarket: City Fringe
Units with a recorded sale: At least 1
Transactions on record: 1 (records start 1995)
Live listings: None
ACRA registrations: 6

About Goodwill Mansion

Goodwill Mansion is a mixed-use building in Novena (District 12). It is located along Balestier Road, Singapore 329782.

Under the URA Master Plan it sits on land zoned commercial & residential with a gross plot ratio of 3. The site falls within a conservation area, so external alterations are subject to URA conservation guidelines.

The site is freehold. It occupies roughly 857 sqm of land with about 3,094 sqm of gross floor area.

1 transaction has been recorded here, at a median of S$919 psf. The most recent was in June 1996.

7 businesses are currently registered at this address with ACRA.

The nearest MRT is Novena MRT, 900 m away (about a 14-minute walk). The closest bus stop (Shaw Plaza) is 60 m away (about a 1-minute walk). Square 2 is 853 m away (about a 13-minute walk).

What is Goodwill Mansion zoned as?

Key takeawayGoodwill Mansion sits on land zoned COMMERCIAL & RESIDENTIAL with a gross plot ratio of 3.0, with conservation status.

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

Run the full zoning report for this building →

What has Goodwill Mansion sold for?

Key takeaway1 transaction is on record since 1995, most recently in Jun 1996 — too few to support a median, so the deals themselves are listed instead.

Date	Use	Price	Area	PSF
Jun 1996	Office	S$900k	980 sqft	$919

URA/JTC records from 1995 — that is where the record starts, not when the building was built. Strata and land deals can mix in one building's history; compare like with like. sqm ↔ sq ft converter

What does space at Goodwill Mansion rent for?

Key takeawayNo rent is published for Goodwill Mansion itself. On its street, Balestier Road, office space rented at a median of $4.98 psf a month in 2026Q3, with the middle half of leases between $4.86 and $5.81. That is not this building's own rent, and never a quote for a particular unit.

Office space on Balestier Road

Street level · 2026Q3

25th pct

$4.86

$52.33 psm

Median

$4.98

$53.57 psm

75th pct

$5.81

$62.49 psm

S$ per sq ft per month · median +11% on a year earlier

2023Q4 · $46.50 psm2026Q3 · $53.57 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 on Balestier Road

Street level · 2026Q3

25th pct

$5.00

$53.83 psm

Median

$5.76

$61.96 psm

75th pct

$7.48

$80.47 psm

S$ per sq ft per month · median -36.4% on a year earlier

2023Q4 · $68.99 psm2026Q3 · $61.96 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).

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 Goodwill Mansion

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

CBRE, 2Q 2026

Decentralised: Vacancy 3.6%

Singapore Figures Q2 2026

Cushman & Wakefield, 2Q 2026

City Fringe (all grades): Rent S$7.83 psf/mth · Vacancy 2.5% · Planned / under construction 1.35m sq ft

Singapore Office MarketBeat Q2 2026

Official series (URA, 2026Q3): Office vacancy rate (Whole Island) 10 (-1.2 pp on the year) · Office rental index (Central Region) 203.4 (+1.8% 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.

What's been approved at Goodwill Mansion?

Key takeawayURA has approved 1 change of use at Goodwill Mansion since 2000, most recently in 2021, and refused 1. 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.

17 Apr 2024Renewed
Continued use as restaurant and office
Continued use of part of 1st storey premises as restaurant and office
30 Jun 2021Approved
Change of use to restaurant and office
Proposed change of use of part of 1st storey premises to restaurant and office
7 Nov 2018Approved
Additions & alterations
Proposed 6th amendment to the approved additions & alterations to the existing 5-storey building with shops at 1st storey and basement car parks (goodwill mansion) including conversion of the residential flats on the 3rd to 5th storeys to temporary serviced apartments with additional 6 units at 2nd storey play deck (total 30 units)
5 Jan 2018Approved
Additions & alterations
Proposed 5th amendment to the approved additions & alterations to the existing 5-storey building with shops at 1st storey and basement car parks (goodwill mansion) including conversion of the residential flats on the 3rd to 5th storeys to temporary serviced apartments with additional 6 units at 2nd storey play deck (total 30 units)
10 Nov 2017Approved
Additions & alterations
Proposed amendment to the approved additions & alterations to the existing 5-storey building with shops at 1st storey and basement car parks (goodwill mansion) including conversion of the residential flats on the 3rd to 5th storeys to temporary serviced apartments with additional 6 units at 2nd storey play deck (total 30 units)
2 Aug 2017Approved
Additions & alterations
Regularization of gfa and proposed amendment to the approved additions & alterations to the existing 5-storey building with shops at 1st storey and basement car parks (goodwill mansion) including conversion of the residential flats on the 3rd to 5th storeys to temporary serviced apartments with additional 6 units at 2nd storey play deck (total 30 units)
24 Apr 2017Approved
Additions & alterations
1st extension of wp for proposed additions & alterations to the existing 5-storey building with shops at 1st storey and basement car parks (goodwill mansion) including conversion of the residential flats on the 3rd to 5th storeys (total 12 units) to temporary serviced apartments
24 Apr 2017Approved
Additions & alterations
Proposed amendment to the approved additions & alterations to the existing 5-storey building with shops at 1st storey and basement car parks (goodwill mansion) including conversion of the residential flats on the 3rd to 5th storeys to tempporary serviced apartments with additional 6 units at 2nd storey play deck (total 30 units)
6 Jun 2016Refused
Change of use to massage establishment
Proposed change of use of part 1st storey shop to massage establishment on lot 00603a ts29 at 355 balestier road (novena planning area)
10 Mar 2016Approved
Additions & alterations
Regularization of gfa and proposed amendment to the approved additions & alterations to the existing 5-storey building with shops at 1st storey and basement car parks (goodwill mansion) including conversion of the residential flats on the 3rd to 5th storeys to temporary serviced apartments (total 24 units)
9 Apr 2015Approved
Additions & alterations
Proposed additions & alterations to the existing 5-storey building with shops at 1st storey and basement car parks (goodwill mansion) including conversion of the residential flats on the 3rd to 5th storeys (total 12 units) to temporary serviced apartments
14 Mar 2011Refused
Additions & alterations
Outline application for proposed additions & alterations to existing 5-storey residential/commercial building (goodwill mansion) for temproary use of up to 10 years as nursing home (estimated 200 beds)

1 earlier change-of-use and A&A decision is on record since 2000.

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 Balestier Road price?

Key takeawayAcross 45 strata sales on Balestier Road in the last 5 years, the median is $2,070 psf.

Strata sales on the street (5y)

Street median PSF (strata)

$2,070

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

What do commercial rents run near Goodwill Mansion?

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 near Goodwill Mansion?

Key takeawayThe nearest MRT/LRT is Novena MRT, about 900 m away.

Getting around

Novena MRT900 m · ~14 min

Amenities nearby

ParkwayHealth Primary Care Network · 21 mShaw Plaza · 60 mNTUC Fairprice Co-operative Ltd · 94 mPlace Of Worship · 150 mHotel · 206 mEducational Institution · 337 mBlks 91/92 Whampoa Drive # · 371 mRen Ci Community Hospital · 571 mWhampoa Community Club · 705 mNovena MRT Exit A · 810 m

Straight-line distances. Source: PropKaki amenities data.

Getting there and parking at Goodwill Mansion

Key takeawayThe nearest station is Novena (NS20), 811 m away — one of the busiest stations, with about 85,000 taps in and out on an average weekday. 21 public car parks are within 500 m; the cheapest URA season parking nearby is S$90 a month.

Foot traffic: busier than 13% of office buildings

nearest MRT/LRT Novena (NS20) 811 m, about 85,000 taps a weekday; 1 more station within 1 km; bus stops within 400 m: 7, about 15,000 taps a weekday; Novena: 42,829 resident workers (Census 2020, by workplace); about 56,000 residents within 1 km (June 2026). Ranked against 485 office 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), not a count of people.

Stations within 1 km

Novena (NS20)811 m · about 85,000 weekday taps
Toa Payoh (NS19)953 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 Goodwill Mansion. Transfers between lines don't tap, so interchanges read low.

Bus

7 bus stops within 400 m, with about 15,000 boardings and alightings on an average weekday.

Public car parks within 500 m

Mandalay Rd (URA)66 m
S$0.60 per half-hour at midday on a weekday · 8 car lots
Martaban Rd (URA)77 m
S$0.60 per half-hour at midday on a weekday · 16 car lots
Balestier Road Area (URA)122 m
season S$90/month
Bhamo Rd (URA)140 m
S$0.60 per half-hour at midday on a weekday · 9 car lots
Minbu Rd (URA)144 m
S$0.60 per half-hour at midday on a weekday · 3 car lots

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

Who's registered at Goodwill Mansion?

Key takeaway6 live companies (and LLPs and branches; sole proprietors are not counted) list Goodwill Mansion as their registered address. These are registered businesses, not who occupies the space.

Accommodation and food services
3
Real estate
2
Financial and insurance
1
Wholesale and retail trade
0
Professional, scientific and technical services
0
Other services
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. Homes share this postal code, so some registrations are home-based. ACRA, as of 2026-09-16.

Frequently asked questions about Goodwill Mansion

Where is Goodwill Mansion?⌄

Goodwill Mansion is at 355 Balestier Road, Singapore 329782, in the Novena planning area.

What is Goodwill Mansion zoned as?⌄

Goodwill Mansion sits on land zoned commercial & residential under the URA Master Plan, with a gross plot ratio of 3.

What is the tenure of Goodwill Mansion?⌄

Goodwill Mansion is freehold.

Is Goodwill Mansion a conserved property?⌄

Yes. Goodwill Mansion falls within a URA conservation area, so external works are subject to conservation guidelines.

What have units at Goodwill Mansion sold for?⌄

Across 1 recorded transaction, the median price is S$919 psf. The latest was in June 1996.

What is the nearest MRT station to Goodwill Mansion?⌄

Novena MRT is the closest, 900 m away (about a 14-minute walk).

How many businesses are registered at Goodwill Mansion?⌄

7 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.

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This development is also registered as the residential project Goodwill Mansion.

Read the figures right

Year of completion is not on record for this building. Building age cannot be stated.

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.

Season parking: the cheapest URA car season rate (commercial ticket) at a public car park within 500 m, per month. HDB's season rates depend on a zone we don't have, so they are shown as HDB's tiers.

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.

Storeys: from OpenStreetMap (© OpenStreetMap contributors), volunteer-mapped, not an official record. Shown only because no official or listed floor count is held for this building.

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 PropKaki's submarket map, URA planning decisions, URA car park data (URA Data Service), LTA DataMall passenger volumes, PropKaki's foot-traffic model, OpenStreetMap (© OpenStreetMap contributors) — see our methodology. Last updated 8 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.