CommercialCOMMERCIAL & RESIDENTIALConservationFreeholdDistrict 12 · Novena

Le Shantier

Reviewed by Nathan TangUpdated 8 November 2026Data through Jan 2025

Quick Summary

Le Shantier 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. 17 transactions are on record since 1995, at a median S$886 psf, most recently in Jan 2025. ACRA records 53 live company registrations at this address.

The facts are here — now get the verdict on Le Shantier.

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What are the key facts about Le Shantier?

Key takeawayLe Shantier 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: 519 Balestier Road
Land area: 2,590 sqm
Completed: Not on record
Storeys: 10 (© OpenStreetMap contributors)
Submarket: City Fringe
Units with a recorded sale: At least 12
Transactions on record: 17 (records start 1995)
Live listings: None
ACRA registrations: 53

About Le Shantier

Le Shantier is a mixed-use building in Novena (District 12). It is located along Balestier Road, Singapore 329852.

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 2,590 sqm of land with about 7,771 sqm of gross floor area.

17 transactions have been recorded here, at a median of S$886 psf. The most recent was in January 2025.

59 businesses are currently registered at this address with ACRA.

The nearest MRT is Novena MRT, 696 m away (about a 11-minute walk). The closest bus stop (Opp Zhongshan Mall) is 37 m away (about a 1-minute walk).

What is Le Shantier zoned as?

Key takeawayLe Shantier 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 Le Shantier sold for?

Key takeawayAcross 17 recorded transactions since 1995, the median price is about S$865k, most recently in Jan 2025.

Date	Use	Price	Area	PSF
Jan 2025	Retail	S$5.10M	2,820 sqft	$1,808
May 2024	Office	S$1.35M	1,012 sqft	$1,334
May 2021	Office	S$1.40M	947 sqft	$1,478
Mar 2021	Office	S$950k	732 sqft	$1,298
Apr 2017	Office	S$950k	969 sqft	$981
Mar 2017	Office	S$865k	861 sqft	$1,005
Aug 2016	Office	S$900k	969 sqft	$929
Aug 2015	Office	S$1.28M	732 sqft	$1,749
Nov 2010	Office	S$800k	1,012 sqft	$791
Jun 2010	Office	S$630k	861 sqft	$732

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 Le Shantier rent for?

Key takeawayNo rent is published for Le Shantier 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 Le Shantier

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.

What's been approved at Le Shantier?

Key takeawayURA has approved 2 changes of use at Le Shantier since 2000, most recently in 2026. 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.

26 Mar 2026ApprovedFloor 2
Change of use to shop
Proposed change of use of unit #02-XX to shop (psychology clinic)
27 Jul 2023ApprovedFloor 3
Change of use to gym/fitness centre
Proposed change of use of unit #03-XX of the le shantier to gym/fitness centre

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 Le Shantier?

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 Le Shantier?

Key takeawayThe nearest MRT/LRT is Novena MRT, about 697 m away — and 3 competing retail premisess operate nearby.

Getting around

Novena MRT697 m · ~11 min

Amenities nearby

Place Of Worship · 15 mOpp Zhongshan Mall · 37 mHotel · 66 mLivewell Medical Family Clinic · 107 mEducational Institution · 129 mRen Ci Community Hospital · 362 mNovena Rise Pk · 440 mNovena MRT Exit A · 604 m

Competing premises nearby

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

NTUC Fairprice Co-operative Ltd · 105 mSquare 2 · 654 mBlks 91/92 Whampoa Drive # · 888 m

Straight-line distances. Source: PropKaki amenities data.

Getting there and parking at Le Shantier

Key takeawayThe nearest station is Novena (NS20), 605 m away — one of the busiest stations, with about 85,000 taps in and out on an average weekday. 16 public car parks are within 500 m.

Foot traffic: busier than 40% of retail buildings

nearest MRT/LRT Novena (NS20) 605 m, about 85,000 taps a weekday; 1 more station within 1 km; bus stops within 400 m: 7, about 13,000 taps a weekday; Novena: 42,829 resident workers (Census 2020, by workplace); about 51,000 residents within 1 km (June 2026); 2 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)605 m · about 85,000 weekday taps
Toa Payoh (NS19)702 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 Le Shantier. Transfers between lines don't tap, so interchanges read low.

Bus

7 bus stops within 400 m, with about 13,000 boardings and alightings on an average weekday.

Public car parks within 500 m

Shan Rd (URA)115 m
S$0.60 per half-hour at midday on a weekday · 11 car lots
Minbu Rd Off St (URA)282 m
S$0.60 per half-hour at midday on a weekday · 111 car lots
Jln Rama Rama (URA)290 m
S$0.60 per half-hour at midday on a weekday · 10 car lots
Blk 101 Jalan Dusun (HDB)324 m
S$0.60 per half-hour at midday on a weekday · 261 car lots
Boon Teck Rd (URA)332 m
S$0.60 per half-hour at midday on a weekday · 6 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, 551 m away, S$90/month.

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

Who's registered at Le Shantier?

Key takeaway53 live companies (and LLPs and branches; sole proprietors are not counted) list Le Shantier as their registered address. These are registered businesses, not who occupies the space.

Wholesale and retail trade
15
Professional, scientific and technical services
13
Financial and insurance
8
Construction
7
Information and communications
2
Education
2
Administrative and support services
1
Manufacturing
1
Transportation and storage
1
Health and social services
1

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. ACRA, as of 2026-09-16.

Frequently asked questions about Le Shantier

Where is Le Shantier?⌄

Le Shantier is at 519 Balestier Road, Singapore 329852, in the Novena planning area.

What is Le Shantier zoned as?⌄

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

What is the tenure of Le Shantier?⌄

Le Shantier is freehold.

Is Le Shantier a conserved property?⌄

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

What have units at Le Shantier sold for?⌄

Across 17 recorded transactions, the median price is S$886 psf. The latest was in January 2025.

What is the nearest MRT station to Le Shantier?⌄

Novena MRT is the closest, 696 m away (about a 11-minute walk).

How many businesses are registered at Le Shantier?⌄

59 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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This development is also registered as the residential project Le Shantier.

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.

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.