CommercialCOMMERCIAL & RESIDENTIALConservationFreeholdDistrict 5 · Queenstown

Icon @ Pasir Panjang

Reviewed by Nathan TangUpdated 10 November 2026Data through Sept 2026

Quick Summary

Icon @ Pasir Panjang is a commercial building in District 5 · Queenstown, on land zoned COMMERCIAL & RESIDENTIAL under the URA Master Plan with a gross plot ratio of 3.0. It is freehold. 22 transactions are on record since 1995, at a median S$3,140 psf, most recently in Sept 2026. 27 units are currently listed for sale or rent. ACRA records 24 live company registrations at this address.

The facts are here — now get the verdict on Icon @ Pasir Panjang.

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What are the key facts about Icon @ Pasir Panjang?

Key takeawayIcon @ Pasir Panjang is a commercial building in District 5 · Queenstown, zoned COMMERCIAL & RESIDENTIAL, held freehold.

Asset class: Commercial
Land-use zone: COMMERCIAL & RESIDENTIAL
Gross plot ratio: 3.0
Tenure: Freehold
District / Area: District 5 · Queenstown
Address: 218 Pasir Panjang Road
Land area: 1,584 sqm
Completed: 2016 (per CommercialGuru)
Storeys: 5 (per CommercialGuru)
Developer: Fragrance Realty Pte Ltd (per CommercialGuru)
Total units (CommercialGuru's count): 31
Strata lots (whole development, MCST): 49
Managing agent: ASIA PROPERTIES & ASSETS CONSULTANCY PTE LTD
Strata formed: 2016 (MCST 4312)
Submarket: City Fringe
Units with a recorded sale: At least 20
Transactions on record: 22 (records start 1995)
Live listings: 27
ACRA registrations: 24

What are the specs at Icon @ Pasir Panjang?

Key takeawayThe building's specs as its sources state them — the listing agent or the management can confirm a unit's own.

Facilities: canteen / food outlets, car park, gym; Source: CommercialGuru

About Icon @ Pasir Panjang

Icon @ Pasir Panjang is a mixed-use building in Queenstown (District 05). It is located along Pasir Panjang Road, Singapore 118579.

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 1,584 sqm of land with about 3,935 sqm of gross floor area.

21 transactions have been recorded here, at a median of S$3,301 psf. The most recent was in December 2025.

30 businesses are currently registered at this address with ACRA.

The nearest MRT is Haw Par Villa MRT, 562 m away (about a 9-minute walk). The closest bus stop (Bef Sth Buona Vista Rd) is 13 m away (about a 0-minute walk).

What is Icon @ Pasir Panjang zoned as?

Key takeawayIcon @ Pasir Panjang 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: Pasir Panjang Road No. 222-240 (Even)
Conserved building: Yes

Run the full zoning report for this building →

What has Icon @ Pasir Panjang sold for?

Key takeawayAcross 22 recorded transactions since 1995, the median price is about S$1.64M, most recently in Sept 2026.

Date	Use	Price	Area	PSF
Sept 2026	Retail	S$1.43M	1,033 sqft	$1,380
Dec 2025	Retail	S$1.25M	420 sqft	$2,978
Nov 2025	Retail	S$1.17M	635 sqft	$1,840
Oct 2025	Retail	S$718k	388 sqft	$1,853
Oct 2025	Retail	S$1.35M	409 sqft	$3,311
Jul 2025	Retail	S$2.50M	1,335 sqft	$1,873
Jun 2025	Retail	S$1.40M	1,076 sqft	$1,297
Mar 2022	Retail	S$1.52M	409 sqft	$3,716
Sept 2021	Retail	S$1.70M	1,076 sqft	$1,579
Jun 2020	Retail	S$1.60M	431 sqft	$3,716

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 Icon @ Pasir Panjang rent for?

Key takeawayNo rent is published for Icon @ Pasir Panjang itself. On its street, Pasir Panjang Road, retail space rented at a median of $6.68 psf a month in 2026Q2, with the middle half of leases between $4.32 and $8.32. That is not this building's own rent, and never a quote for a particular unit.

Retail space on Pasir Panjang Road

Street level · 2026Q2

25th pct

$4.32

$46.46 psm

Median

$6.68

$71.94 psm

75th pct

$8.32

$89.51 psm

S$ per sq ft per month · median -50% on a year earlier

2021Q3 · $73.74 psm2026Q2 · $71.94 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 Pasir Panjang Road

Street level · 2026Q3

25th pct

—

— psm

Median

$9.00

$96.85 psm

75th pct

—

— psm

S$ per sq ft per month (median only published)

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 5 retail

Region band · 2026Q3

25th pct

$7.45

$80.17 psm

Median

$11.04

$118.89 psm

75th pct

$15.35

$165.18 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 5 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 Icon @ Pasir Panjang

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 Icon @ Pasir Panjang

Key takeawayBased on listings we track, as of our last check on 28 Aug 2026: 10 units for rent; 17 units for sale.

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

Sale: between 6 Aug 2026 and 28 Aug 2026, 2 new listings appeared and 2 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 Icon @ Pasir Panjang?

Key takeawayURA has approved 26 changes of use at Icon @ Pasir Panjang since 2000, most recently in 2026, and refused 5. 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.

23 Jul 2026ApprovedFloor 2
Change of use to office
Proposed change of use of unit #02-XX to office at icon @ pasir panjang
6 Jul 2026ApprovedFloor 2
Change of use to restaurant
Proposed change of use of unit #02-XX to restaurant at icon @ pasir panjang
27 Feb 2026ApprovedFloor 2
Change of use to golf simulator outlet
Proposed change of use of unit #02-XX to golf simulator outlet at icon @ pasir panjang
29 Oct 2025ApprovedFloor 2
Change of use to pet day care and pet boarding
Proposed change of use of shop unit #02-XX to pet day care and pet boarding at icon @ pasir panjang
1 Oct 2025ApprovedFloor 1
Change of use to minimart and takeaway foodshop
Proposed change of use of unit #01-XX to minimart and takeaway foodshop
4 Sept 2025ApprovedFloor 2
Change of use to pet shop
Proposed change of use of unit #02-XX to pet shop at icon @ pasir panjang
28 May 2025ApprovedFloor 1
Change of use to pet daycare, pet boarding and pet grooming
Proposed change of use of unit #01-XX to pet daycare, pet boarding and pet grooming at icon @ pasir panjang
27 May 2025ApprovedFloor 2
Change of use to massage establishment
Proposed change of use of shop unit #02-XX to massage establishment at icon @ pasir panjang
5 Dec 2024ApprovedFloor 1
Change of use to massage establishment
Proposed change of use of shop unit #01-XX to massage establishment at icon @ pasir panjang
28 Nov 2024ApprovedFloor 2
Change of use to restaurant
Proposed change of shop unit #02-XX to restaurant at icon @ pasir panjang
4 Oct 2024ApprovedFloor 2
Change of use to office
Proposed change of use of unit #02-XX to office at icon @ pasir panjang
4 Oct 2024ApprovedFloor 2
Change of use to office
Proposed change of use of unit #02-XX to office at icon @ pasir panjang

31 earlier change-of-use and A&A decisions are 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 Pasir Panjang 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 Icon @ Pasir Panjang?

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

Indicative area yield — District 5 retail

Gross yield (area)

5.9%

5.3% net of property tax

Rent side (median of bands)

$118.89 psm/mo

2026Q3

Price side (strata, 5y)

$2,263 psf

32 sales

An INDICATIVE AREA yield for District 5 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 5 ($ psm/month, 2026Q3)

Floor level · size band	25th pct	Median	75th pct
B1 & Below · 30 & Below	$50.00	$57.14	$376.27
Level 1 · 30 & Below	$56.83	$66.67	$120.03
Level 2 & 3 · >30 - 100	$90.07	$125.08	$160.38
Level 1 · >30 - 100	$70.27	$112.69	$126.27
Level 1 · >100 - 300	$108.14	$129.44	$203.65
Level 2 & 3 · >100 - 300	$116.31	$143.20	$169.97

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 Icon @ Pasir Panjang right now?

Key takeaway27 units are currently listed at Icon @ Pasir Panjang — 17 for sale and 10 for rent. One row per unit; several agents often market the same unit.

For sale (17)

Icon @ Pasir PanjangS$1.60M · 420 sqft
Icon @ Pasir PanjangS$1.55M · 1,076 sqft
Icon @ Pasir PanjangS$1.55M · 420 sqft
Icon @ Pasir Panjang2 agentsS$1.37M · 1,012 sqft

For rent (10)

Icon @ Pasir PanjangS$8k/mo · 678 sqft
Icon @ Pasir PanjangS$6k/mo · 1,076 sqft
Icon @ Pasir PanjangS$4k/mo · 1,033 sqft
Icon @ Pasir Panjang6 agentsS$6k/mo · 990 sqft

Browse every listing at this building →

What is near Icon @ Pasir Panjang?

Key takeawayThe nearest MRT/LRT is Haw Par Villa MRT, about 562 m away — and 1 competing retail premises operate nearby.

Getting around

Haw Par Villa MRT562 m · ~9 min

Amenities nearby

Bef Sth Buona Vista Rd · 13 mPlace Of Worship · 58 mVista Medical Centre · 215 mPort / Airport · 215 mPasir Panjang Park · 220 mHaw Par Villa MRT Exit A · 576 mBusiness Park · 591 m

Competing premises nearby

Retail and F&B premises competing for the same footfall — context for an occupier, not a selling point.

Pasir Panjang Food Centre · 743 m

Straight-line distances. Source: PropKaki amenities data.

Getting there and parking at Icon @ Pasir Panjang

Key takeawayThe nearest station is Haw Par Villa (CC25), 562 m away — a moderately busy station, with about 15,000 taps in and out on an average weekday. One public car park is within 500 m; the cheapest URA season parking nearby is S$90 a month.

Foot traffic: busier than 6% of retail buildings

nearest MRT/LRT Haw Par Villa (CC25) 562 m, about 15,000 taps a weekday; 1 more station within 1 km; bus stops within 400 m: 10, about 4,959 taps a weekday; Queenstown: 131,782 resident workers (Census 2020, by workplace); about 5,113 residents within 1 km (June 2026); 0 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

Haw Par Villa (CC25)562 m · about 15,000 weekday taps
Pasir Panjang (CC26)721 m · about 14,000 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 Icon @ Pasir Panjang. Transfers between lines don't tap, so interchanges read low.

Bus

10 bus stops within 400 m, with 4,959 boardings and alightings on an average weekday.

Public car parks within 500 m

Pasir Panjang Rd - Sou Th Buona Vista Rd (URA)67 m
S$0.60 per half-hour at midday on a weekday · season S$90/month · 26 car lots

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

Who's registered at Icon @ Pasir Panjang?

Key takeaway24 live companies (and LLPs and branches; sole proprietors are not counted) list Icon @ Pasir Panjang as their registered address. These are registered businesses, not who occupies the space.

Wholesale and retail trade
6
Accommodation and food services
5
Other services
3
Health and social services
3
Information and communications
2
Financial and insurance
2
Manufacturing
1
Real estate
1
Professional, scientific and technical services
1
Construction
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 Icon @ Pasir Panjang

Where is Icon @ Pasir Panjang?⌄

Icon @ Pasir Panjang is at 218 Pasir Panjang Road, Singapore 118579, in the Queenstown planning area.

What is Icon @ Pasir Panjang zoned as?⌄

Icon @ Pasir Panjang sits on land zoned commercial & residential under the URA Master Plan, with a gross plot ratio of 3.

What is the tenure of Icon @ Pasir Panjang?⌄

Icon @ Pasir Panjang is freehold.

Is Icon @ Pasir Panjang a conserved property?⌄

Yes. Icon @ Pasir Panjang falls within a URA conservation area, so external works are subject to conservation guidelines.

What have units at Icon @ Pasir Panjang sold for?⌄

Across 21 recorded transactions, the median price is S$3,301 psf. The latest was in December 2025.

What is the nearest MRT station to Icon @ Pasir Panjang?⌄

Haw Par Villa MRT is the closest, 562 m away (about a 9-minute walk).

How many businesses are registered at Icon @ Pasir Panjang?⌄

30 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

The facts are here — now get the verdict on Icon @ Pasir Panjang.

Ask what a unit here would fetch, what the zone allows, or how it compares.

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Tell me about Icon @ Pasir Panjang — recent transactions, zoning and what's listed there.

Here's the building's zone, its recorded deals and every live unit — and where the asking prices sit against them.

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This development is also registered as the residential project Icon @ Pasir Panjang.

Read the figures right

Completion year: as CommercialGuru states it, not checked against an official record. Sales records start in 1995, which says nothing about when a building was built.

Storeys: CommercialGuru's floor count, not checked against an official record.

Developer: as CommercialGuru names it, not checked against an official record.

Total units: CommercialGuru's own figure, not a verified count. Units with a recorded sale (URA caveats) are a separate figure and a lower bound.

Strata lots: the lot count in the development's MCST (BCA's register) — the whole development, homes included where it is mixed; a single-owner mall or tower can be one lot.

Strata formed: the year the MCST was set up (BCA's register). NOT the year the building was completed — an MCST forms after TOP, sometimes years later. Never state it as the building's age.

Managing agent: as BCA's MCST register names it; it can change between register updates.

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.

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 CommercialGuru, BCA's MCST register, PropKaki's submarket map, URA planning decisions, URA car park data (URA Data Service), 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.