CommercialCOMMERCIAL999-year leaseholdDistrict 1 · Downtown Core

Lippo Building

Reviewed by Nathan TangUpdated 8 November 2026Data through Oct 2011

Quick Summary

Lippo Building is a commercial building in District 1 · Downtown Core, on land zoned COMMERCIAL under the URA Master Plan with a gross plot ratio of 15.0. It is 999-year leasehold. 4 transactions are on record since 1995, most recently in Oct 2011. 6 units are currently listed for rent. ACRA records 208 live company registrations at this address.

The facts are here — now get the verdict on Lippo Building.

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What are the key facts about Lippo Building?

Key takeawayLippo Building is a commercial building in District 1 · Downtown Core, zoned COMMERCIAL, held 999-year leasehold.

Asset class: Commercial
Land-use zone: COMMERCIAL
Gross plot ratio: 15.0
Tenure: 999-year leasehold
District / Area: District 1 · Downtown Core
Address: 1 Phillip Street
Land area: 373 sqm
Completed: Not on record
Storeys: 16 (© OpenStreetMap contributors)
Submarket: Raffles Place
Units with a recorded sale: At least 1
Listed as: Office
Transactions on record: 4 (records start 1995)
Live listings: 6
ACRA registrations: 208

About Lippo Building

Lippo Building is a commercial building in Downtown Core (District 01). It is located along Phillip Street, Singapore 048692.

Under the URA Master Plan it sits on land zoned commercial with a gross plot ratio of 15. It lies inside the Central Area.

The site is 999-year leasehold, with about 800 years remaining on the lease. It occupies roughly 373 sqm of land with about 5,596 sqm of gross floor area.

4 transactions have been recorded here, at a median of S$1,720 psf. The most recent was in October 2011.

240 businesses are currently registered at this address with ACRA.

The nearest MRT is Raffles Place MRT, 187 m away (about a 3-minute walk). The closest bus stop (OCBC Ctr) is 117 m away (about a 2-minute walk). One Raffles Place is 137 m away (about a 2-minute walk).

What is Lippo Building zoned as?

Key takeawayLippo Building sits on land zoned COMMERCIAL with a gross plot ratio of 15.0, inside the Central Area.

Land-use zone: COMMERCIAL
Gross plot ratio: 15.0
Urban design area: Udga
Central Area: Yes

BCA-verified envelope: allowable GFA 5,595 sqm · built 5,000 sqm · headroom 595 sqm. This block appears only where BCA has published the actual built floor area — everywhere else, buildable headroom cannot be verified and is deliberately not estimated.

Run the full zoning report for this building →

What has Lippo Building sold for?

Key takeaway4 transactions are on record since 1995, most recently in Oct 2011 — too few to support a median, so the deals themselves are listed instead.

Date	Use	Price	Area	PSF
Oct 2011	Office	S$78.00M	4,015 sqft	$19,427
Feb 2008	Office	S$99.02M	39,730 sqft	$2,492
Feb 2006	Office	S$4.82M	5,102 sqft	$946
Feb 2006	Office	S$32.78M	34,628 sqft	$947

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 Lippo Building rent for?

Key takeawayNo rent is published for Lippo Building itself. On its street, Phillip Street, office space rented at a median of $7.00 psf a month in 2026Q3, with the middle half of leases between $7.00 and $7.80. That is not this building's own rent, and never a quote for a particular unit.

Office space on Phillip Street

Street level · 2026Q3

25th pct

$7.00

$75.33 psm

Median

$7.00

$75.35 psm

75th pct

$7.80

$83.95 psm

S$ per sq ft per month · median -13.1% on a year earlier

2023Q4 · $86.32 psm2026Q3 · $75.35 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 Phillip Street

Street level · 2023Q4

25th pct

—

— psm

Median

$24.97

$268.75 psm

75th pct

—

— psm

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

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 1 retail

Region band · 2026Q3

25th pct

$8.23

$88.64 psm

Median

$10.02

$107.81 psm

75th pct

$15.92

$171.42 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 1 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 Lippo Building

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

CBRE, 2Q 2026

Prime office: Capital value S$3,200 psf · Net yield 3.7%
Core CBD (Grade A): Rent S$12.50 psf/mth · Vacancy 3.3%
Core CBD (Grade B): Rent S$9.15 psf/mth
Core CBD: Rent S$9.40 psf/mth · Vacancy 4.5%

Singapore Figures Q2 2026

Cushman & Wakefield, 2Q 2026

Raffles Place: Rent S$11.54 psf/mth · Vacancy 4.5% · Planned / under construction 0.36m 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.

How fast units move at Lippo Building

Key takeawayBased on listings we track, as of our last check on 28 Aug 2026: 6 units for rent.

Rent: between 6 Aug 2026 and 28 Aug 2026, 0 new listings appeared and 5 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 Lippo Building?

Key takeawayURA has approved 1 change of use at Lippo Building since 2000, most recently in 2011. 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 Aug 2011Agency worksFloor 1
Change of use to office
Change of use of unit #01-XX to office on lot 00401k ts 01 at 1 phillip street (downtown core planning area)

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 Phillip Street 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 Lippo Building?

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

Indicative area yield — District 1 retail

Gross yield (area)

3.4%

3.0% net of property tax

Rent side (median of bands)

$107.81 psm/mo

2026Q3

Price side (strata, 5y)

$3,561 psf

90 sales

An INDICATIVE AREA yield for District 1 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 1 ($ psm/month, 2026Q3)

Floor level · size band	25th pct	Median	75th pct
Level 2 & 3 · 30 & Below	$82.69	$99.35	$120.39
Level 1 · 30 & Below	$172.73	$245.52	$332.57
B1 & Below · 30 & Below	$87.33	$172.91	$321.72
Level 2 & 3 · >30 - 100	$77.43	$95.09	$183.52
Level 1 · >30 - 100	$106.77	$168.33	$217.05
B1 & Below · >30 - 100	$117.40	$198.29	$365.38
Level 1 · >100 - 300	$115.69	$148.57	$187.43
B1 & Below · >100 - 300	$148.73	$233.33	$396.56

Office rents — Central Area ($ psm/month, 2026Q3)

Building class · size band	25th pct	Median	75th pct
Category 2 · 100 & Below	$54.65	$69.39	$88.80
Category 1 · 100 & Below	$103.62	$122.24	$132.43
Category 1 · >100 - 200	$116.28	$126.99	$148.35
Category 2 · >100 - 200	$65.57	$82.87	$97.63
Category 1 · >200 - 500	$114.67	$128.09	$145.77
Category 2 · >200 - 500	$64.83	$82.57	$94.73
Category 1 · >500 - 1000	$106.56	$137.78	$148.23
Category 2 · >500 - 1000	$85.04	$89.34	$109.80

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 Lippo Building right now?

Key takeaway6 units are currently listed at Lippo Building. One row per unit; several agents often market the same unit.

For rent (6)

Royal One PhillipS$25k/mo · 2,659 sqft
Royal One PhillipS$27k/mo · 2,971 sqft
Royal One PhillipS$28k/mo · 2,900 sqft
Royal One PhillipS$15k/mo · 1,600 sqft

Browse every listing at this building →

What is near Lippo Building?

Key takeawayThe nearest MRT/LRT is Raffles Place MRT, about 187 m away.

Getting around

Raffles Place MRT187 m · ~3 min

Amenities nearby

The Bonham Clinic · 4 mPlace Of Worship · 64 mOCBC Ctr · 117 mMarket Street Hawker Centre · 120 mOne Raffles Place · 137 mRaffles Place MRT Exit G · 163 mMarket Street Park · 172 mHotel · 218 mKreta Ayer Community Club · 884 m

Straight-line distances. Source: PropKaki amenities data.

Getting there and parking at Lippo Building

Key takeawayThe nearest station is Raffles Place (EW14 / NS26), 162 m away — one of the busiest stations, with about 133,000 taps in and out on an average weekday. 22 public car parks are within 500 m.

Foot traffic: busier than 81% of office buildings

nearest MRT/LRT Raffles Place (EW14/NS26) 162 m, about 133,000 taps a weekday; 10 more stations within 1 km; bus stops within 400 m: 8, about 17,000 taps a weekday; Downtown Core: 284,004 resident workers (Census 2020, by workplace); about 9,743 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

Raffles Place (EW14 / NS26)162 m · about 133,000 weekday taps
Telok Ayer (DT18)309 m · about 37,000 weekday taps
Clarke Quay (NE5)488 m · about 31,000 weekday taps
Chinatown (NE4 / DT19)512 m · about 97,000 weekday taps
Downtown (DT17)636 m · about 51,000 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 Lippo Building. Transfers between lines don't tap, so interchanges read low.

Bus

8 bus stops within 400 m, with about 17,000 boardings and alightings on an average weekday.

Public car parks within 500 m

Backlane (Synagogue St - Church St) (URA)106 m
Backlane (Lor Telok - Circular Rd) (URA)164 m
Circular Rd (URA)188 m
S$1.20 per half-hour at midday on a weekday · 34 car lots
Backlane (Synagogue St ) (URA)190 m
North Canal Rd (URA)213 m
S$1.20 per half-hour at midday on a weekday · 24 car lots

Nearest URA season parking: Mohd Sultan-River Vall Ey Road Area, 1.3 km away, S$80/month.

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

Who's registered at Lippo Building?

Key takeaway208 live companies (and LLPs and branches; sole proprietors are not counted) list Lippo Building as their registered address. These are registered businesses, not who occupies the space.

Financial and insurance
59
Professional, scientific and technical services
57
Wholesale and retail trade
39
Information and communications
16
Transportation and storage
11
Other services
10
Arts, entertainment and recreation
7
Administrative and support services
3
Manufacturing
2
Electricity, gas and air-conditioning supply
2

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.

What is Lippo Building's BCA building profile?

BCA building type: Office
Green Mark: NA (NA)
Energy use intensity: 130 kWh/m²·yr

Frequently asked questions about Lippo Building

Where is Lippo Building?⌄

Lippo Building is at 1 Phillip Street, Singapore 048692, in the Downtown Core planning area.

What is Lippo Building zoned as?⌄

Lippo Building sits on land zoned commercial under the URA Master Plan, with a gross plot ratio of 15.

What is the tenure of Lippo Building?⌄

Lippo Building is 999-year leasehold. About 800 years remain on the lease.

What have units at Lippo Building sold for?⌄

Across 4 recorded transactions, the median price is S$1,720 psf. The latest was in October 2011.

What is the nearest MRT station to Lippo Building?⌄

Raffles Place MRT is the closest, 187 m away (about a 3-minute walk).

How many businesses are registered at Lippo Building?⌄

240 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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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.

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.