CommercialCOMMERCIALLeaseholdDistrict 11 · Novena

Novena Square

Reviewed by Nathan TangUpdated 8 November 2026Data through Jan 2001

Quick Summary

Novena Square is a commercial building in District 11 · Novena, on land zoned COMMERCIAL under the URA Master Plan with a gross plot ratio of 4.2. It is leasehold with roughly 70 years remaining. 1 transaction is on record since 1995, most recently in Jan 2001. 7 units are currently listed for rent. ACRA records 21 live company registrations at this address.

The facts are here — now get the verdict on Novena Square.

Ask PropKaki

What are the key facts about Novena Square?

Key takeawayNovena Square is a commercial building in District 11 · Novena, zoned COMMERCIAL, held leasehold.

Asset class: Commercial
Land-use zone: COMMERCIAL
Gross plot ratio: 4.2
Tenure: Leasehold
District / Area: District 11 · Novena
Address: 238 Thomson Road
Land area: 16,672 sqm
Completed: Not on record
Storeys: 25 (© OpenStreetMap contributors)
Strata lots (whole development, MCST): 52
Managing agent: UOL MANAGEMENT SERVICES PTE LTD
Strata formed: 2016 (MCST 4298)
Owner: UOL Group (SGX filings)
Submarket: City Fringe
Units with a recorded sale: At least 1
Listed as: Office, Mall Shop, Other Retail
Transactions on record: 1 (records start 1995)
Live listings: 7
ACRA registrations: 21

Who owns Novena Square, and what is it valued at?

Key takeawayNovena Square is owned by UOL Group, listed on SGX. 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$1,514.5 million as at 30 Jun 2026, by Edmund Tie & Company (SEA) Pte Ltd.

per UOL Group's SGX filing, 12 Aug 2026

Earlier: S$1,488.4 million (31 Dec 2025) · S$1,473 million (30 Jun 2025) · S$1,472.5 million (31 Dec 2024) · S$1,467.1 million (30 Jun 2024)

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 Novena Square

Novena Square is a commercial building in Novena (District 11). It is located along Thomson Road, Singapore 307683.

Under the URA Master Plan it sits on land zoned commercial with a gross plot ratio of 4.2.

The site is leasehold, with about 70 years remaining on the lease. It occupies roughly 16,672 sqm of land with about 73,663 sqm of gross floor area.

1 transaction has been recorded here, at a median of S$1,557 psf. The most recent was in January 2001.

24 businesses are currently registered at this address with ACRA.

The nearest MRT is Novena MRT, 70 m away (about a 1-minute walk). The closest bus stop (Novena Stn) is 139 m away (about a 2-minute walk). Velocity @ Novena Square is 21 m away (about a 0-minute walk).

What is Novena Square zoned as?

Key takeawayNovena Square sits on land zoned COMMERCIAL with a gross plot ratio of 4.2.

Land-use zone: COMMERCIAL
Gross plot ratio: 4.2

BCA-verified envelope: allowable GFA 70,022 sqm · built 69,936 sqm · headroom 86 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 Novena Square sold for?

Key takeaway1 transaction is on record since 1995, most recently in Jan 2001 — too few to support a median, so the deals themselves are listed instead.

Date	Use	Price	Area	PSF
Jan 2001	Office	S$6.30M	4,047 sqft	$1,557

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 Novena Square rent for?

Key takeawayNo rent is published for Novena Square itself. On its street, Thomson Road, office space rented at a median of $8.45 psf a month in 2026Q3, with the middle half of leases between $7.95 and $8.72. That is not this building's own rent, and never a quote for a particular unit.

Office space on Thomson Road

Street level · 2026Q3

25th pct

$7.95

$85.56 psm

Median

$8.45

$90.93 psm

75th pct

$8.72

$93.90 psm

S$ per sq ft per month · median +0.6% on a year earlier

2023Q4 · $78.57 psm2026Q3 · $90.93 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 Thomson Road

Street level · 2026Q3

25th pct

$11.18

$120.38 psm

Median

$18.37

$197.77 psm

75th pct

$26.32

$283.28 psm

S$ per sq ft per month · median +6.1% on a year earlier

2023Q4 · $181.46 psm2026Q3 · $197.77 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 11 retail

Region band · 2026Q3

25th pct

$12.48

$134.36 psm

Median

$16.43

$176.85 psm

75th pct

$17.64

$189.91 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 11 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 Novena Square

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.

How fast units move at Novena Square

Key takeawayBased on listings we track, as of our last check on 28 Aug 2026: 7 units for rent.

Rent: between 6 Aug 2026 and 28 Aug 2026, 1 new listing appeared and 3 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 Novena Square?

Key takeawayURA has approved 54 changes of use at Novena Square since 2000, most recently in 2025. 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.

1 Dec 2025ApprovedFloor 3
Change of use to massage establishment
Proposed change of use of units #03-XX and #03-XX to massage establishment
29 Aug 2024ApprovedFloor 1
Change of use to restaurant with live entertainment
Proposed change of use of units #01-XX and #01-XX (novena square) to restaurant with live entertainment
18 Jul 2024ApprovedFloor 1
Change of use to restaurant with live entertainment
Change of use of units #01-XX and #01-XX (novena square) to restaurant with live entertainment
7 May 2024ApprovedFloor 3
Change of use to massage establishment
Change of use of #03-XX and #03-XX (novena square) to massage establishment
18 Apr 2023Approved
Change of use: part of 2nd storey common corridor → new restaurant and seating area
Proposed change of use from part of 2nd storey common corridor to new restaurant and seating area (unit #02-XX)
14 Mar 2023ApprovedFloor 3
Change of use to medical clinic
Proposed change of use of units #03-XX, #03-XX and #03-XX to medical clinic - novena square
21 Feb 2023ApprovedFloor 3
Change of use to massage establishment
Proposed change of shop unit #03-XX to massage establishment - novena square
30 Aug 2021ApprovedFloor 3
Change of use to outdoor refreshment area
Proposed change of use of part of the common corridor at the 3rd storey to outdoor refreshment area (ora) for existing restaurant at units #03-XX and #03-XX - novena square
16 Mar 2021ApprovedFloor 2
Change of use to restaurant
Proposed change of use of units #02-XX and #02-XX to restaurant - novena square
1 Mar 2021ApprovedFloor 3
Change of use to medical clinic
Proposed change of use of unit #03-XX to medical clinic - novena square
3 Dec 2019Approved
Additions & alterations
Proposed amendment to approved additions and alterations and change of use of part 1st storey to new shops, restaurants, takeaway food kiosks and corridors at the existing novena square building
18 Oct 2019Approved
Additions & alterations
Proposed additions & alterations involving temporary internal linkbridge at 2nd storey of novena square building connecting to temporary pedestrian overhead bridge

59 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 Thomson 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 Novena Square?

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

Indicative area yield — District 11 retail

Gross yield (area)

4.6%

4.1% net of property tax

Rent side (median of bands)

$176.85 psm/mo

2026Q3

Price side (strata, 5y)

$4,327 psf

15 sales

An INDICATIVE AREA yield for District 11 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 11 ($ psm/month, 2026Q3)

Floor level · size band	25th pct	Median	75th pct
Level 2 & 3 · 30 & Below	$134.36	$181.39	$189.91
Level 1 · 30 & Below	$96.71	$98.15	$108.07
Level 1 · >30 - 100	$138.32	$176.85	$254.10

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 Novena Square right now?

Key takeaway7 units are currently listed at Novena Square. One row per unit; several agents often market the same unit.

For rent (7)

Novena SquareS$19k/mo · 2,329 sqft
Novena SquareS$12k/mo · 1,453 sqft
⭐️Novena - Retail/Services2 agentsS$16k/mo · 850 sqft
Fitted Office near Novena MRTS$38k/mo · 4,015 sqft

Browse every listing at this building →

What is near Novena Square?

Key takeawayThe nearest MRT/LRT is Novena MRT, about 70 m away.

Getting around

Novena MRT70 m · ~1 min

Amenities nearby

Healthway Medical Centre (Novena Sq) · 16 mCold Storage Singapore (1983) Pte Ltd · 21 mVelocity @ Novena Square · 21 mHotel · 42 mNovena MRT Exit B · 71 mNovena Stn · 139 mPlace Of Worship · 223 mEducational Institution · 233 mMount Elizabeth Novena Hospital · 258 mNovena Pk · 305 m

Straight-line distances. Source: PropKaki amenities data.

Getting there and parking at Novena Square

Key takeawayThe nearest station is Novena (NS20), 69 m away — one of the busiest stations, with about 85,000 taps in and out on an average weekday. No public car park we hold is within 500 m; the nearest is Shrewsbury Rd (URA), 543 m away; the nearest URA season parking is Shrewsbury Area, 578 m away (S$80/month).

Foot traffic: busier than 38% of office buildings

nearest MRT/LRT Novena (NS20) 69 m, about 85,000 taps a weekday; 1 more station within 1 km; bus stops within 400 m: 8, about 23,000 taps a weekday; Novena: 42,829 resident workers (Census 2020, by workplace); about 33,000 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)69 m · about 85,000 weekday taps
Newton (NS21 / DT11)941 m · about 116,000 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 Novena Square. Transfers between lines don't tap, so interchanges read low.

Bus

8 bus stops within 400 m, with about 23,000 boardings and alightings on an average weekday.

Who's registered at Novena Square?

Key takeaway21 live companies (and LLPs and branches; sole proprietors are not counted) list Novena Square as their registered address. These are registered businesses, not who occupies the space.

Wholesale and retail trade
9
Other services
6
Accommodation and food services
4
Health and social services
1
Arts, entertainment and recreation
1
Professional, scientific and technical services
0
Manufacturing
0
Construction
0
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 Novena Square's BCA building profile?

BCA building type: Office
Green Mark: GoldPlus (2018)
Energy use intensity: 319 kWh/m²·yr

Frequently asked questions about Novena Square

Where is Novena Square?⌄

Novena Square is at 238 Thomson Road, Singapore 307683, in the Novena planning area.

What is Novena Square zoned as?⌄

Novena Square sits on land zoned commercial under the URA Master Plan, with a gross plot ratio of 4.2.

What is the tenure of Novena Square?⌄

Novena Square is leasehold. About 70 years remain on the lease.

What have units at Novena Square sold for?⌄

Across 1 recorded transaction, the median price is S$1,557 psf. The latest was in January 2001.

What is the nearest MRT station to Novena Square?⌄

Novena MRT is the closest, 70 m away (about a 1-minute walk).

How many businesses are registered at Novena Square?⌄

24 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 Novena Square.

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

Ask PropKaki Try on WhatsApp

PropKaki

Tell me about Novena Square — 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.

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.

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.

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 BCA's MCST register, PropKaki's submarket map, URA planning decisions, the owner's SGX filings, 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.

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.