IndustrialBUSINESS 2LeaseholdDistrict 22 · Jurong West

Ispace

Reviewed by Nathan TangUpdated 8 November 2026Data through Jul 2026

Quick Summary

Ispace is a industrial building in District 22 · Jurong West, on land zoned BUSINESS 2 under the URA Master Plan with a gross plot ratio of 2.0. It is leasehold with roughly 16 years remaining. 240 transactions are on record since 1995, at a median S$355 psf, most recently in Jul 2026. 40 units are currently listed for sale or rent. ACRA records 386 live company registrations at this address.

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

Ask PropKaki

What are the key facts about Ispace?

Key takeawayIspace is a industrial building in District 22 · Jurong West, zoned BUSINESS 2, held leasehold.

Asset class: Industrial
Land-use zone: BUSINESS 2
Gross plot ratio: 2.0
Tenure: Leasehold
District / Area: District 22 · Jurong West
Address: 7 Soon Lee Street
Land area: 19,618 sqm
Completed: 2014 (JTC industrial completions)
Storeys: 9 (© OpenStreetMap contributors)
Developer: KNG Group Pte Ltd (JTC industrial completions)
Strata units (MCST): 235
Managing agent: ASIA PROPERTIES & ASSETS CONSULTANCY PTE LTD
Strata formed: 2014 (MCST 4177)
Units with a recorded sale: At least 199
Listed as: Factory / Workshop (B2), Light Industrial (B1), Warehouse
Transactions on record: 240 (records start 1995)
Live listings: 40
ACRA registrations: 386

About Ispace

Ispace is an industrial building in Jurong West (District 22). It is located along Soon Lee Street, Singapore 627608.

Under the URA Master Plan the site is zoned Business 2 with a gross plot ratio of 2. Business 2 zoning covers general industry with a nuisance buffer of 100 m, including heavier trades.

The site is leasehold, with about 16 years left to run. A tail that short materially narrows the pool of banks willing to finance a purchase. It sits on about 19,618 sqm of land with roughly 39,237 sqm of gross floor area.

240 transactions have been recorded here, at a median of S$355 psf. The most recent was in July 2026.

Across JTC's rental returns for Soon Lee Street, the median rent for industrial space on this street works out to about S$1.83 psf per month over 52 observations. Observed medians on the street span S$1.62 to S$2.90 psf per month. These are street-level figures from undated JTC snapshots, not a rent quoted for this property.

The nearest port or airport land is about 2.8 km away. The closest business-park zone is about 1.8 km away. The nearest MRT is Pioneer MRT, 510 m away (about a 8-minute walk). The closest bus stop (Opp Blk 657 CP) is 143 m away (about a 2-minute walk).

437 businesses are currently registered at this address with ACRA.

What is Ispace zoned as?

Key takeawayIspace sits on land zoned BUSINESS 2 with a gross plot ratio of 2.0.

Land-use zone: BUSINESS 2
Gross plot ratio: 2.0

Run the full zoning report for this building →

What has Ispace sold for?

Key takeawayAcross 240 recorded transactions since 1995, the median price is about S$631k, most recently in Jul 2026.

Date	Use	Price	Area	PSF
Jul 2026	Multiple-user Factory	S$1.70M	3,574 sqft	$476
Jul 2026	Multiple-user Factory	S$1.45M	3,025 sqft	$480
Jun 2026	Multiple-user Factory	S$525k	1,733 sqft	$303
Jun 2026	Multiple-user Factory	S$690k	1,733 sqft	$398
Jun 2026	Multiple-user Factory	S$690k	1,733 sqft	$398
Dec 2025	Multiple-user Factory	S$480k	1,690 sqft	$284
Dec 2025	Multiple-user Factory	S$510k	1,668 sqft	$306
Nov 2025	Multiple-user Factory	S$580k	1,991 sqft	$291
Oct 2025	Multiple-user Factory	S$528k	1,711 sqft	$309
Oct 2025	Multiple-user Factory	S$528k	1,711 sqft	$309

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 Ispace rent for?

Key takeawayJTC publishes leases at Ispace itself: strata factory space leased at a median of $2.36 psf a month in 2026Q3, with the middle half of leases between $2.10 and $2.42. That is the building's figure across its leases, and never a quote for a particular unit.

Strata factory space in this building

This building · 2026Q3

25th pct

$2.10

$22.60 psm

Median

$2.36

$25.39 psm

75th pct

$2.42

$26.02 psm

S$ per sq ft per month · median +12.8% on a year earlier

2023Q4 · $23.59 psm2026Q3 · $25.39 psm median

JTC's percentiles of the gross rent declared to IRAS for strata factory units leased in THIS building in the stated quarter (J-SPACE). It is the building's figure across its leases, not any one unit's rent; a unit's floor, size and fit-out move it. '*' quarters (too few leases) are absent, not zero.

Source: JTC J-SPACE, rentals of strata-titled multiple-user factories.

Strata factory space on Soon Lee Street

Street level · 2026Q3

25th pct

—

— psm

Median

$2.64

$28.41 psm

75th pct

—

— psm

S$ per sq ft per month (median only published) · median +4.4% on a year earlier

2023Q4 · $26.71 psm2026Q3 · $28.41 psm median

This is the MEDIAN of JTC-published rents across leases on this street in the stated quarter, not the asking or contracted rent of any particular unit. Streets with too few leases are suppressed by JTC and appear as no value -- suppressed is not zero.

Source: JTC J-SPACE, rental of industrial space by street.

Market context around Ispace

Key takeawayBrokers' industrial figures for Singapore as a whole — a broker's market figure, not this building's rent.

CBRE, 2Q 2026 (island-wide)

Factory (ground floor): Rent S$1.81 psf/mth
Factory (upper floor): Rent S$1.41 psf/mth
Prime logistics: Rent S$1.87 psf/mth · Capital value S$245 psf · Net yield 6.5%
Warehouse (ground floor): Rent S$1.91 psf/mth
Warehouse (upper floor): Rent S$1.39 psf/mth

Singapore Figures Q2 2026

Cushman & Wakefield, 2Q 2026 (island-wide)

Factory - Ground Floor: Rent S$1.79 psf/mth
Factory - Upper Floor: Rent S$1.57 psf/mth
High-Tech: Rent S$3.56 psf/mth
Prime Logistics - Ground Floor: Rent S$1.92 psf/mth
Prime Logistics - Upper Floor: Rent S$1.74 psf/mth
Warehouse - Ground Floor: Rent S$1.81 psf/mth
Warehouse - Upper Floor: Rent S$1.49 psf/mth

Singapore Industrial MarketBeat Q2 2026

Official series (JTC, 2026Q3): Multiple-User Factory occupancy (island-wide) 90.3% (-0.7 pp on the year) · Single-User Factory occupancy (island-wide) 89.1% (0 pp on the year) · Warehouse occupancy (island-wide) 89.7% (+0.1 pp 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 Ispace

Key takeawayBased on listings we track, as of our last check on 28 Aug 2026: 16 units for rent; 24 units for sale.

Rent: between 6 Aug 2026 and 28 Aug 2026, 4 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.

Sale: between 6 Aug 2026 and 28 Aug 2026, 2 new listings appeared and 4 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 Ispace?

Key takeawayURA has approved 24 changes of use at Ispace since 2000, most recently in 2026, and refused 1. 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.

29 Sept 2026ApprovedFloor 3
Change of use to industrial training use
Proposed change of use of units #03-XX and #03-XX to industrial training use at ispace
23 Feb 2026ApprovedFloor 1
Change of use: factory → industrial training use
Proposed change of use of #01-XX from factory to industrial training use
17 Nov 2025RenewedFloor 3
Continued use as industrial training
Continued use of factory unit #03-XX as industrial training
8 Oct 2025ApprovedFloor 1
Change of use: factory → industrial training
Proposed change of use of unit #01-XX from factory to industrial training
6 Mar 2025RefusedFloor 1
Change of use to minimart
Proposed change of use of unit #01-XX to minimart
13 Feb 2025RenewedFloor 1
Continued use as industrial canteen
Continued use of unit #01-XX as industrial canteen - ispace
5 Nov 2024ApprovedFloor 4
Change of use to industrial training
Proposed change of use of #04-XX to industrial training
11 Aug 2023ApprovedFloor 4
Change of use to industrial training
Proposed change of use of unit #04-XX to industrial training
26 Aug 2022RenewedFloor 3
Change of use
Continued use of factory unit #03-XX for industrial training
9 Sept 2021ApprovedFloor 3
Change of use to industrial training
Proposed change of use of unit #03-XX to industrial training
9 Jun 2021ApprovedFloor 3
Change of use to warehouse
Proposed change of use of unit #03-XX to warehouse
18 Jan 2021RenewedFloor 3
Continued use as industrial training
Continued use of factory unit #03-XX as industrial training

19 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 Soon Lee Street price?

Key takeawaySoon Lee Street's current JTC street rent is S$28.41 psm/month (2026Q3), which against the street's strata sale median works out to an indicative gross yield of 10.1% (9.1% net of property tax).

Strata sales on the street (5y)

347

Street median PSF (strata)

$305

Indicative street yield

10.1% gross

9.1% net of property tax

An INDICATIVE street-level yield, not a yield for any particular unit: the current-quarter JTC street rent divided by the street's strata sale PSF median.

Net deducts the 10% non-residential property tax ONLY — not vacancy, maintenance, agent fees, financing, or the 9% GST on purchase.

Street figures cover strata deals only — land and strata PSF are not comparable.

What is available at Ispace right now?

Key takeaway40 units are currently listed at Ispace — 24 for sale and 16 for rent. One row per unit; several agents often market the same unit.

For sale (24)

IspaceS$470k · 1,672 sqft
IspaceS$468k · 1,668 sqft
IspaceS$695k · 1,995 sqft
IspaceS$478k · 1,705 sqft

For rent (16)

IspaceS$2k/mo · 1,500 sqft
IspaceS$10k/mo · 2,669 sqft
IspaceS$5k/mo · 1,948 sqft
Ispace2 agentsS$5k/mo · 1,700 sqft

Browse every listing at this building →

What is near Ispace?

Key takeawayThe nearest MRT/LRT is Pioneer MRT, about 510 m away.

Getting around

Pioneer MRT510 m · ~8 min

Amenities nearby

Opp Blk 657 CP · 143 mEducational Institution · 189 mPioneer Medicare · 307 mPioneer MRT Exit A · 500 mJurong West Hawker Centre · 878 m

Straight-line distances. Source: PropKaki amenities data.

Getting there and parking at Ispace

Key takeawayThe nearest station is Pioneer (EW28), 500 m away — a busy station, with about 66,000 taps in and out on an average weekday. 5 public car parks are within 500 m.

Foot traffic: busier than 85% of industrial buildings

nearest MRT/LRT Pioneer (EW28) 500 m, about 66,000 taps a weekday; 1 more station within 1 km; bus stops within 400 m: 8, about 3,400 taps a weekday; Jurong West: 45,571 resident workers (Census 2020, by workplace); about 49,000 residents within 1 km (June 2026). Ranked against 8,225 industrial 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

Pioneer (EW28)500 m · about 66,000 weekday taps
Boon Lay (EW27)777 m · about 102,000 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 Ispace. Transfers between lines don't tap, so interchanges read low.

Bus

8 bus stops within 400 m, with 3,400 boardings and alightings on an average weekday.

Public car parks within 500 m

Blk 657 Jurong West Street 65 (HDB)199 m
S$0.60 per half-hour at midday on a weekday · gantry 2.15 m · 917 car lots
Blk 655 Jurong West Street 61 (HDB)267 m
S$0.60 per half-hour at midday on a weekday · gantry 2.15 m · 786 car lots
Blk 659 Jurong West Street 65 (HDB)441 m
S$0.60 per half-hour at midday on a weekday · gantry 2.15 m · 1,488 car lots
Blk 651 Jurong West Street 61 (HDB)475 m
S$0.60 per half-hour at midday on a weekday · gantry 2.15 m · 459 car lots
Blk 660 Jurong West Street 64 (HDB)482 m
S$0.60 per half-hour at midday on a weekday · gantry 2.15 m · 534 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: Neythal Rd, 1.0 km away, S$90/month.

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

Who's registered at Ispace?

Key takeaway386 live companies (and LLPs and branches; sole proprietors are not counted) list Ispace as their registered address. These are registered businesses, not who occupies the space.

Manufacturing
102
Construction
71
Wholesale and retail trade
66
Professional, scientific and technical services
46
Other services
23
Administrative and support services
19
Transportation and storage
18
Accommodation and food services
14
Information and communications
6
Financial and insurance
6

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 does industrial space rent for on this street?

Key takeawayJTC's street-level record shows a median of S$19.71 psm/month — an all-time median from 2000 onwards, not a current rent.

Street rent, median: S$19.71 psm/mo
Observed range: S$17.42 – S$31.25

JTC street medians span 2000 to today and are an all-time level, not today's asking rent; the forward pipeline is a forecast, not committed completions.

Frequently asked questions about Ispace

Where is Ispace?⌄

Ispace is at 7 Soon Lee Street, Singapore 627608, in the Jurong West planning area.

What is Ispace zoned as?⌄

Ispace is zoned Business 2 under the URA Master Plan, with a gross plot ratio of 2. Business 2 zoning covers general industry with a nuisance buffer of 100 m, including heavier trades.

What kind of business can operate at Ispace?⌄

Business 2 zoning covers general industry with a nuisance buffer of 100 m, including heavier trades. The specific trade still has to be approved, so check the permissible-use list for your activity.

What is the tenure of Ispace?⌄

Ispace is leasehold. About 16 years remain on the lease. Financing gets harder below roughly 30 years, so factor that into any purchase.

What have units at Ispace sold for?⌄

Across 240 recorded transactions, the median is S$355 psf. The latest was in July 2026.

What does industrial space near Ispace rent for?⌄

JTC's rental returns for Soon Lee Street put the median at about S$1.83 psf per month. That is a street-level figure from undated snapshots covering all industrial space on Soon Lee Street, not a rent quoted for Ispace itself.

What is the nearest MRT station to Ispace?⌄

Pioneer MRT is the closest, 510 m away (about a 8-minute walk).

How many businesses are registered at Ispace?⌄

437 businesses are currently registered at this address with ACRA. That counts registered addresses, not physical occupiers.

For agents · in the PropKaki app

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

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

Ask PropKaki Try on WhatsApp

PropKaki

Tell me about Ispace — 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

Completion year: the first quarter JTC records a TOP (Temporary Occupation Permit) at this address. JTC lists major industrial projects (7,000 sqm and up) from 2013; where an older building stood on the site, this is the current building's year.

Developer: as named on JTC's completion record, often the project company rather than the listed group.

Total units: the strata units in the building's MCST (BCA's register) — strata lots, not tenancies; a single-owner building can be one lot. Units with a recorded sale (URA caveats) are a separate figure.

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.

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.

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.

Median across 2000Q1-2026Q2 — an all-time level, NOT a current rent. Quote the latest quarter for "what does it rent for now".

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 JTC industrial completions, BCA's MCST register, URA planning decisions, HDB car park information (data.gov.sg), 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.