IndustrialBUSINESS 2LeaseholdDistrict 16 · Tampines

Nico Building

Reviewed by Nathan TangUpdated 8 November 2026Data through Nov 2020

Quick Summary

Nico Building is a industrial building in District 16 · Tampines, on land zoned BUSINESS 2 under the URA Master Plan with a gross plot ratio of 1.0. It is leasehold with roughly 69 years remaining. 2 transactions are on record since 1995, most recently in Nov 2020. ACRA records 2 live company registrations at this address.

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

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What are the key facts about Nico Building?

Key takeawayNico Building is a industrial building in District 16 · Tampines, zoned BUSINESS 2, held leasehold.

Asset class: Industrial
Land-use zone: BUSINESS 2
Gross plot ratio: 1.0
Tenure: Leasehold
District / Area: District 16 · Tampines
Address: 48 Changi South Street 1
Land area: 4,122 sqm
Completed: Not on record
Storeys: Not on record
Estate (JTC): Changi South Industrial Estate
Transactions on record: 2 (records start 1995)
Live listings: None
ACRA registrations: 2

About Nico Building

Nico Building is an industrial building in Tampines (District 16). It is located along Changi South Street 1, Singapore 486130.

Under the URA Master Plan the site is zoned Business 2 with a gross plot ratio of 1. Business 2 zoning covers general industry with a nuisance buffer of 100 m, including heavier trades.

The site is leasehold, with about 69 years left to run. It sits on about 4,122 sqm of land with roughly 4,122 sqm of gross floor area.

2 transactions have been recorded here, at a median of S$225 psf. The most recent was in November 2020.

Across JTC's rental returns for Changi South Street 1, the median rent for industrial space on this street works out to about S$0.94 psf per month over 10 observations. Observed medians on the street span S$0.35 to S$1.90 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 382 m away. The closest business-park zone is about 190 m away. The closest bus stop (Bef Changi Sth St 1) is 304 m away (about a 5-minute walk).

2 businesses are currently registered at this address with ACRA.

What is Nico Building zoned as?

Key takeawayNico Building sits on land zoned BUSINESS 2 with a gross plot ratio of 1.0.

Land-use zone: BUSINESS 2
Gross plot ratio: 1.0

Run the full zoning report for this building →

What has Nico Building sold for?

Key takeaway2 transactions are on record since 1995, most recently in Nov 2020 — too few to support a median, so the deals themselves are listed instead.

Date	Use	Price	Area	PSF
Nov 2020	Single-user Factory	S$12.00M	44,368 sqft	$270
May 2011	Single-user Factory	S$8.00M	44,368 sqft	$180

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

Market context around Nico Building

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.

What's been approved at Nico Building?

Key takeawayURA has approved 2 changes of use at Nico Building since 2000, most recently in 2006. 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.

13 Mar 2013Approved
Additions & alterations
Regularisation of gfa and amendments to approved addition & alteration works including one additional car lift for an existing part 2/ part 4-storey single user, single occupier light industrial building
24 Aug 2012Approved
Additions & alterations
Proposed addition & alteration works including one additional car lift for an existing part 2/ part 4-storey single user, single occupier light industrial building
11 May 2009Renewed
Continued use as ancillary workers' dormitory
Continued use of the 4th sty staff recreation area to ancillary workers' dormitory
26 Apr 2006Approved
Change of use to ancillary workers' dormitory
Change of use of the 4th sty staff recreation area to ancillary workers' dormitory
9 Mar 2006Approved
Change of use to ancillary workers' dormitory
Change of use of the 4th sty staff recreation area to ancillary workers' dormitory

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 is near Nico Building?

Amenities nearby

Business Park · 191 mBef Changi Sth St 1 · 304 mPort / Airport · 382 mEducational Institution · 711 mRafflesMedical (Changi City Point) · 825 m

Straight-line distances. Source: PropKaki amenities data.

Getting there and parking at Nico Building

Key takeawayThere is no MRT or LRT station within 1 km; the nearest is Expo, 1.0 km away. 2 public car parks are within 500 m.

Foot traffic: busier than 43% of industrial buildings

no MRT/LRT within 1 km (nearest Expo, 1.0 km); bus stops within 400 m: 1, about 806 taps a weekday; Tampines: 84,200 resident workers (Census 2020, by workplace); about 571 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.

Bus

1 bus stop within 400 m, with 806 boardings and alightings on an average weekday.

Public car parks within 500 m

Changi South St 1 (URA)161 m
S$0.60 per half-hour at midday on a weekday · 59 car lots
Changi South Ave 4 (URA)308 m
S$0.60 per half-hour at midday on a weekday · 26 car lots

Nearest URA season parking: Changi North Area, 1.1 km away, S$90/month.

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

Who's registered at Nico Building?

Key takeaway2 live companies (and LLPs and branches; sole proprietors are not counted) list Nico Building as their registered address. These are registered businesses, not who occupies the space.

Administrative and support services
2
Wholesale and retail trade
0
Financial and insurance
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 does industrial space rent for on this street?

Key takeawayJTC's street-level record shows a median of S$10.09 psm/month — an all-time median from 2000 onwards, not a current rent.

Street rent, median: S$10.09 psm/mo
Observed range: S$3.79 – S$20.41

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 Nico Building

Where is Nico Building?⌄

Nico Building is at 48 Changi South Street 1, Singapore 486130, in the Tampines planning area.

What is Nico Building zoned as?⌄

Nico Building is zoned Business 2 under the URA Master Plan, with a gross plot ratio of 1. Business 2 zoning covers general industry with a nuisance buffer of 100 m, including heavier trades.

What kind of business can operate at Nico Building?⌄

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 Nico Building?⌄

Nico Building is leasehold. About 69 years remain on the lease.

What have units at Nico Building sold for?⌄

Across 2 recorded transactions, the median is S$225 psf. The latest was in November 2020.

What does industrial space near Nico Building rent for?⌄

JTC's rental returns for Changi South Street 1 put the median at about S$0.94 psf per month. That is a street-level figure from undated snapshots covering all industrial space on Changi South Street 1, not a rent quoted for Nico Building itself.

How many businesses are registered at Nico Building?⌄

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

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Read the figures right

Year of completion is not on record for this building. Building age cannot be stated.

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.

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".

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 estate boundaries, URA planning decisions, URA car park data (URA Data Service), PropKaki's foot-traffic model — 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.