CommercialWHITEDistrict 19 · Serangoon

Nex

Reviewed by Nathan TangUpdated 10 November 2026

Quick Summary

Nex is a commercial building in District 19 · Serangoon, on land zoned WHITE under the URA Master Plan with a gross plot ratio of 3.5. 3 units are currently listed for sale or rent. ACRA records 10 live company registrations at this address.

The facts are here — now get the verdict on Nex.

Ask PropKaki

What are the key facts about Nex?

Key takeawayNex is a commercial building in District 19 · Serangoon, zoned WHITE.

Asset class: Commercial
Land-use zone: WHITE
Gross plot ratio: 3.5
Tenure: Not on record
District / Area: District 19 · Serangoon
Address: 23 Serangoon Central
Land area: 25,008 sqm
Completed: Not on record
Storeys: 7 (© OpenStreetMap contributors)
Owner: Frasers Centrepoint Trust (50% interest) (SGX filings)
Net lettable area: 634,631 sq ft (the owner's SGX filings)
Car-park lots: 400 (the owner's annual report (as filed on SGX))
Submarket: Suburban
Listed as: Medical, Mall Shop
Transactions on record: None recorded
Live listings: 3
ACRA registrations: 10

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.

Who owns Nex, and what is it valued at?

Key takeawayFrasers Centrepoint Trust holds a 50% interest in Nex. The figures below come from its own SGX filings, each with its date. A valuation is an independent valuer's opinion for the owner's accounts, not a sale price.

Valued at S$2,141 million for its 50% interest (S$2,141 million for the whole property) as at 30 Sep 2025.

As of 30 September 2025, FCT owns an effective interest of 50.0% of Gold Ridge Pte. Ltd. which holds NEX. The value reflected in this announcement is the total value of the property and FCT’s 50.0% interest amounts to S$1,070.5 million.

per Frasers Centrepoint Trust's SGX filing, 23 Oct 2025

Earlier: S$2,130 million (30 Sep 2024) · S$2,100 million (30 Sep 2023)

NEX: Frasers Centrepoint Trust's annual report (2025)

NLA (its 50% share): 634,631 sq ft
Committed occupancy: 100%
Tenants: 293
Car-park lots: 400
Land tenure: 99-year leasehold
Green Mark: BCA Green Mark Gold (GM: 2021 In Operation)
Major tenants: FairPrice Xtra, Isetan, Food Junction, H&M, Courts

per Frasers Centrepoint Trust's annual report (SGX), 23 Dec 2025, page 2

Whole-building deals

Announced 25 Jan 2024 · completed 26 Mar 2024
HSBC Institutional Trust Services (Singapore) Limited (in its capacity as trustee of FCT) bought a 24.5% interest in NEX for S$523.1 million (estimated total acquisition cost) from Frasers Property Limited.
At the time: NLA 634,631 sq ft · occupancy 100% (Dec 2023)
Announcement on SGX · completion notice
Announced 26 Jan 2023
Frasers Property Coral Pte. Ltd. (in its capacity as trustee-manager of NEX Partners Trust), HSBC Institutional Trust Services (Singapore) Limited (in its capacity as trustee of FCT) and FCL Emerald (1) Pte. Ltd. bought a 50% interest in NEX for S$652.5 million (consideration) from Mercatus Tres Pte. Ltd..
At the time: NLA 634,631 sq ft · occupancy 99.9% (Nov 2022)
Announcement on SGX

Source: the owners' own filings on SGX — notices of valuation of real assets, acquisition and divestment announcements, and annual reports. Facts only, each with its date; a valuation is not a sale price, and occupancy and WALE are as of the date shown. Only REITs and SGX-listed companies file these: a building with a private owner shows no owner here.

About Nex

Nex is a commercial building in Serangoon (District 19). It is located along Serangoon Central, Singapore 556083.

Under the URA Master Plan it sits on land zoned white with a gross plot ratio of 3.5.

It occupies roughly 25,008 sqm of land with about 89,378 sqm of gross floor area.

23 businesses are currently registered at this address with ACRA.

The nearest MRT is Serangoon MRT, 24 m away (about a 0-minute walk). The closest bus stop (S'goon Stn Exit C/Blk 201) is 72 m away (about a 1-minute walk). The Woodleigh Mall is 1.3 km away.

What is Nex zoned as?

Key takeawayNex sits on land zoned WHITE with a gross plot ratio of 3.5.

Land-use zone: WHITE
Gross plot ratio: 3.5

BCA-verified envelope: allowable GFA 87,528 sqm · built 87,527 sqm · headroom 1 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 does space at Nex rent for?

Key takeawayNo rent is published for Nex itself. On its street, Serangoon Central, retail space rented at a median of $31.76 psf a month in 2026Q3, with the middle half of leases between $23.24 and $40.40. That is not this building's own rent, and never a quote for a particular unit.

Retail space on Serangoon Central

Street level · 2026Q3

25th pct

$23.24

$250.16 psm

Median

$31.76

$341.82 psm

75th pct

$40.40

$434.86 psm

S$ per sq ft per month · median -10.5% on a year earlier

2023Q4 · $316.10 psm2026Q3 · $341.82 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 19 retail

Region band · 2026Q3

25th pct

$9.19

$98.95 psm

Median

$12.67

$136.43 psm

75th pct

$20.61

$221.82 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 19 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 Nex

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

CBRE, 2Q 2026

Suburban: Rent S$32.95 psf/mth

Singapore Figures Q2 2026

Cushman & Wakefield, 2Q 2026

Suburban: Rent S$33.36 psf/mth · Vacancy 5.7% (1Q 2026) · Planned / under construction 1.53m 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 Nex

Key takeawayBased on listings we track, as of our last check on 28 Aug 2026: 2 units for rent; 1 unit for sale.

Rent: between 6 Aug 2026 and 28 Aug 2026, 0 new listings 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, 0 new listings appeared and 0 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 Nex?

Key takeawayURA has approved 35 changes of use at Nex 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.

16 Sept 2026ApprovedFloor 1
Change of use to massage establishment
Proposed change of use of units #01-XX & #01-XX to massage establishment
14 Oct 2025Approved
Additions & alterations
Proposed addition and alterations to the existing 5 storey shopping complex with 2 basements and bus interchange on lot 09805a mk 17 at upper serangoon road/ serangoon central / serangoon avenue 2 (serangoon planning area)
24 Jan 2025ApprovedFloor 2
Change of use to medical clinic
Proposed change of use of #02-XX to medical clinic
17 Sept 2024ApprovedFloor 4
Change of use to medical clinic
Proposed change of use of #04-XX to medical clinic
5 Sept 2024RenewedFloor 4
Continued use as massage establishment
Continued use of unit #04-XX as massage establishment
12 Aug 2024ApprovedFloor 3
Change of use to massage establishment
Proposed change of use of #03-XX to massage establishment
30 Oct 2023ApprovedFloor 1
Change of use to restaurant
Proposed change of use of #01-XX to restaurant
26 Sept 2022ApprovedFloor 2
Change of use to massage establishment
Proposed change of use of shop units #02-XX & #02-XX to massage establishment
19 Sept 2022ApprovedFloor 4
Change of use to clinic
Proposed change of use of shop unit #04-XX to clinic
27 Jun 2022ApprovedFloor 2
Change of use to bank
Proposed change of use of unit #02-XX to bank
20 Oct 2021RenewedFloor 4
Continued use as massage establishment
Continued use of unit #04-XX as massage establishment
17 Aug 2021RenewedFloor 2
Continued use as massage establishment
Continued use of shop unit #02-XX as massage establishment

33 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).

What do commercial rents run near Nex?

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

Indicative area yield — District 19 retail

Gross yield (area)

6.9%

6.2% net of property tax

Rent side (median of bands)

$136.43 psm/mo

2026Q3

Price side (strata, 5y)

$2,212 psf

70 sales

An INDICATIVE AREA yield for District 19 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 19 ($ psm/month, 2026Q3)

Floor level · size band	25th pct	Median	75th pct
Level 1 · 30 & Below	$63.64	$104.00	$295.24
B1 & Below · 30 & Below	$63.48	$71.43	$209.95
Level 2 & 3 · 30 & Below	$54.03	$66.41	$81.37
B1 & Below · >30 - 100	$225.40	$251.63	$339.38
Level 2 & 3 · >30 - 100	$201.18	$241.17	$307.68
Level 1 · >30 - 100	$98.95	$138.38	$262.23
Level 2 & 3 · >100 - 300	$201.65	$214.77	$221.82
B1 & Below · >100 - 300	$196.03	$234.00	$280.07

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 Nex right now?

Key takeaway3 units are currently listed at Nex — 1 for sale and 2 for rent. One row per unit; several agents often market the same unit.

For sale (1)

NexS$21.00M · 6,200 sqft

For rent (2)

NexS$45k/mo · 6,320 sqft
Retail spaces (Non-f&b) islandwideS$16k/mo · 800 sqft

Browse every listing at this building →

What is near Nex?

Key takeawayThe nearest MRT/LRT is Serangoon MRT, about 24 m away.

Getting around

Serangoon MRT24 m · ~0 min

Amenities nearby

Serangoon MRT Exit G · 25 mCold Storage Singapore (1983) Pte Ltd · 39 mS'goon Stn Exit C/Blk 201 · 72 mOneDoctors Medical Centre (Serangoon) · 74 mBraddell Heights Community Club · 267 mEducational Institution · 278 mUpper Serangoon Park · 302 mPlace Of Worship · 374 mHotel · 772 m

Straight-line distances. Source: PropKaki amenities data.

Getting there and parking at Nex

Key takeawayThe nearest station is Serangoon (NE12 / CC13), 24 m away — one of the busiest stations, with about 119,000 taps in and out on an average weekday. 14 public car parks are within 500 m.

Foot traffic: busier than 98% of retail buildings

nearest MRT/LRT Serangoon (NE12/CC13) 24 m, about 119,000 taps a weekday; 1 more station within 1 km; bus stops within 400 m: 15, about 88,000 taps a weekday; Serangoon: 38,451 resident workers (Census 2020, by workplace); about 54,000 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

Serangoon (NE12 / CC13)24 m · about 119,000 weekday taps
Lorong Chuan (CC14)860 m · about 18,000 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 Nex. Transfers between lines don't tap, so interchanges read low.

Bus

15 bus stops within 400 m, with about 88,000 boardings and alightings on an average weekday.

Public car parks within 500 m

Blk 264 Serangoon Central (HDB)104 m
S$0.60 per half-hour at midday on a weekday · gantry 1.9 m · 583 car lots
Blk 330/335 Serangoon Avenue 3 (HDB)251 m
S$0.60 per half-hour at midday on a weekday · gantry 4.5 m · 279 car lots
Blk 265 Serangoon Avenue 3 (HDB)252 m
S$0.60 per half-hour at midday on a weekday · 167 car lots
Blk 409/414 Serangoon Central/Avenue 1 (HDB)264 m
S$0.60 per half-hour at midday on a weekday · gantry 5.4 m · 180 car lots
Blk 262/263 Serangoon Central (HDB)300 m
S$0.60 per half-hour at midday on a weekday · gantry 4.5 m · 26 car lots

HDB season (car): Tier 1 $110/month (a resident's or registered HDB shop/industrial tenant's first car); Tier 2 (other cars, non-residents) $120 Rest of Island, $170 Designated Area, $190 Restricted Zone (sheltered: multi-storey, basement, deck). Industrial-park multi-storey car parks: $110 / $120. Which zone this car park is in is not published as data.

Nearest URA season parking: Lim Tua Tow Area, 573 m away, S$80/month.

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

Who's registered at Nex?

Key takeaway10 live companies (and LLPs and branches; sole proprietors are not counted) list Nex as their registered address. These are registered businesses, not who occupies the space.

Other services
4
Wholesale and retail trade
2
Accommodation and food services
2
Financial and insurance
1
Health and social services
1
Education
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. ACRA, as of 2026-09-16.

What is Nex's BCA building profile?

BCA building type: Retail
Green Mark: Gold (2017)
Energy use intensity: 486 kWh/m²·yr

Frequently asked questions about Nex

Where is Nex?⌄

Nex is at 23 Serangoon Central, Singapore 556083, in the Serangoon planning area.

What is Nex zoned as?⌄

Nex sits on land zoned white under the URA Master Plan, with a gross plot ratio of 3.5.

Have there been any recorded transactions at Nex?⌄

No caveats have been lodged for Nex 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 Nex?⌄

Serangoon MRT is the closest, 24 m away (about a 0-minute walk).

How many businesses are registered at Nex?⌄

23 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 Nex.

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

Ask PropKaki Try on WhatsApp

PropKaki

Tell me about Nex — 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.

Ask anything about Singapore property…

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.

Approved for a new building: the year URA approved the latest new erection or redevelopment here. An APPROVAL year, not a completion year — never state it as the building's age.

Owner: the REIT or SGX-listed company whose latest valuation notice or annual report lists this building (a later divestment removes it). '(N% interest)' or '(part of the strata)' when it holds less than the whole. A building with no listed owner shows none — a private owner is never named.

Net lettable area: as the owner's acquisition announcement on SGX printed it, at the time of the deal.

Car-park lots: as the owner's latest annual report prints them.

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.

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

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, the owner's SGX filings, the owner's annual report (as filed on SGX), HDB car park information (data.gov.sg), LTA DataMall passenger volumes, PropKaki's foot-traffic model, OpenStreetMap (© OpenStreetMap contributors) — see our methodology. Last updated 10 November 2026. For general information, not financial advice.

Owners, valuations and deals: the owners' own filings on SGX (notices of valuation of real assets, acquisition and divestment announcements, annual reports), facts only, each with its date.

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.