PropKaki
IndustrialBUSINESS 1LeaseholdDistrict 3 · Queenstown

One Commonwealth

Reviewed by Nathan TangUpdated 10 August 2026Data through Apr 2026
Quick Summary

One Commonwealth is a industrial building in District 3 · Queenstown, on land zoned BUSINESS 1 under the URA Master Plan with a gross plot ratio of 2.5. It is leasehold with roughly 12 years remaining. 294 transactions are on record since 1995, most recently in Apr 2026. 39 units are currently listed for sale or rent. ACRA records 707 live company registrations at this address.

The facts are here — now get the verdict on One Commonwealth.Ask PropKaki
1

What are the key facts about One Commonwealth?

Key takeawayOne Commonwealth is a industrial building in District 3 · Queenstown, zoned BUSINESS 1, held leasehold.
Asset class
Industrial
Land-use zone
BUSINESS 1
Gross plot ratio
2.5
Tenure
Leasehold
District / Area
District 3 · Queenstown
Address
1 Commonwealth Lane
Land area
10,641 sqm
Transactions on record
294 (records start 1995)
Live listings
39
ACRA registrations
707
2

About One Commonwealth

One Commonwealth is an industrial building in Queenstown (District 03). It is located along Commonwealth Lane, Singapore 149544.

Under the URA Master Plan the site is zoned Business 1 with a gross plot ratio of 2.5. Business 1 zoning covers clean and light industry with a nuisance buffer of 50 m.

The site is leasehold, with about 12 years left to run. A tail that short materially narrows the pool of banks willing to finance a purchase. It sits on about 10,641 sqm of land with roughly 26,602 sqm of gross floor area.

294 transactions have been recorded here, at a median of S$472 psf. The most recent was in April 2026.

Across JTC's rental returns for Commonwealth Lane, the median rent for industrial space on this street works out to about S$3.06 psf per month over 61 observations. Observed medians on the street span S$2.46 to S$3.91 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 3.1 km away. The closest business-park zone is about 289 m away. The nearest MRT is Commonwealth MRT, 247 m away (about a 4-minute walk). The closest bus stop (Opp Blk 115B) is 162 m away (about a 2-minute walk).

707 businesses are currently registered at this address with ACRA.

3

What is One Commonwealth zoned as?

Key takeawayOne Commonwealth sits on land zoned BUSINESS 1 with a gross plot ratio of 2.5.
Land-use zone
BUSINESS 1
Gross plot ratio
2.5

Run the full zoning report for this building →

4

What has One Commonwealth sold for?

Key takeawayAcross 294 recorded transactions since 1995, the median price is about S$670k, most recently in Apr 2026.
DateUsePriceAreaPSF
Apr 2026Multiple-user FactoryS$448k1,421 sqft$316
Apr 2026Multiple-user FactoryS$448k1,421 sqft$316
Apr 2026Multiple-user FactoryS$448k1,421 sqft$316
Feb 2026Multiple-user FactoryS$544k1,679 sqft$324
Feb 2026Multiple-user FactoryS$440k1,421 sqft$310
Nov 2025Multiple-user FactoryS$515k1,679 sqft$307
Jun 2025Multiple-user FactoryS$1.12M3,358 sqft$333
May 2025Multiple-user FactoryS$495k1,421 sqft$348
May 2025Multiple-user FactoryS$428k1,421 sqft$301
Apr 2025Multiple-user FactoryS$428k1,421 sqft$301

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.

5

How does Commonwealth Lane price?

Key takeawayCommonwealth Lane's current JTC street rent is S$32.95 psm/month (2026Q2), which against the street's strata sale median works out to an indicative gross yield of 11.3% (10.1% net of property tax).
Strata sales on the street (5y)
42
Street median PSF (strata)
$320
Indicative street yield
11.3% gross
10.1% 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.

6

What is available at One Commonwealth right now?

Key takeaway39 units are currently listed at One Commonwealth — 25 for sale and 14 for rent. One row per unit; several agents often market the same unit.

For sale (25)

  • One Commonwealth2 agentsS$480k · 1,432 sqft
  • One Commonwealth3 agentsS$492k · 1,421 sqft
  • One Commonwealth2 agentsS$493k · 1,421 sqft
  • One CommonwealthS$543k · 1,281 sqft

For rent (14)

  • One CommonwealthS$6k/mo · 2,045 sqft
  • One CommonwealthS$7k/mo · 2,045 sqft
  • One CommonwealthS$1k/mo · 120 sqft
  • One CommonwealthS$6k/mo · 2,034 sqft

Browse every listing at this building →

7

What is near One Commonwealth?

Key takeawayThe nearest MRT/LRT is Commonwealth MRT, about 247 m away.

Getting around

Amenities nearby

Opp Blk 115B · 162 mCommonwealth MRT Exit B · 213 mBusiness Park · 289 mOneness Medical · 308 mEducational Institution · 334 mTanglin Halt Market · 428 m

Straight-line distances. Source: PropKaki amenities data.

8

How many companies are registered at One Commonwealth?

Key takeawayACRA records 707 live company registrations at this address, 163 of them in the last three years.
Live registrations
707
Registered last 3 years
163

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.

9

What does industrial space rent for on this street?

Key takeawayJTC's street-level record shows a median of S$32.95 psm/month — an all-time median from 2000 onwards, not a current rent.
Street rent, median
S$32.95 psm/mo
Observed range
S$26.46 – S$42.08

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.

10

Frequently asked questions about One Commonwealth

Where is One Commonwealth?⌄

One Commonwealth is at 1 Commonwealth Lane, Singapore 149544, in the Queenstown planning area.

What is One Commonwealth zoned as?⌄

One Commonwealth is zoned Business 1 under the URA Master Plan, with a gross plot ratio of 2.5. Business 1 zoning covers clean and light industry with a nuisance buffer of 50 m.

What kind of business can operate at One Commonwealth?⌄

Business 1 zoning covers clean and light industry with a nuisance buffer of 50 m. The specific trade still has to be approved, so check the permissible-use list for your activity.

What is the tenure of One Commonwealth?⌄

One Commonwealth is leasehold. About 12 years remain on the lease. Financing gets harder below roughly 30 years, so factor that into any purchase.

What have units at One Commonwealth sold for?⌄

Across 294 recorded transactions, the median is S$472 psf. The latest was in April 2026.

What does industrial space near One Commonwealth rent for?⌄

JTC's rental returns for Commonwealth Lane put the median at about S$3.06 psf per month. That is a street-level figure from undated snapshots covering all industrial space on Commonwealth Lane, not a rent quoted for One Commonwealth itself.

What is the nearest MRT station to One Commonwealth?⌄

Commonwealth MRT is the closest, 247 m away (about a 4-minute walk).

How many businesses are registered at One Commonwealth?⌄

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

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