IndustrialBUSINESS 1LeaseholdDistrict 3 · Queenstown

One Commonwealth

Reviewed by Nathan TangUpdated 8 November 2026Data through Aug 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. 295 transactions are on record since 1995, at a median S$472 psf, most recently in Aug 2026. 41 units are currently listed for sale or rent. ACRA records 593 live company registrations at this address.

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

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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
Completed: 2010 (per EdgeProp listings)
Storeys: 10 (© OpenStreetMap contributors)
Developer: Wintech Commonwealth Pte Ltd (per CommercialGuru)
Strata units (MCST): 250
Managing agent: CHAMBERS PROPERTY MANAGEMENT SERVICES PTE LTD
Strata formed: 2011 (MCST 3598)
Estate (JTC): Tanglin Halt Industrial Estate
Units with a recorded sale: At least 198
Listed as: Light Industrial (B1), Factory / Workshop (B2), Shop / Shophouse
Transactions on record: 295 (records start 1995)
Live listings: 41
ACRA registrations: 593

What are the specs at One Commonwealth?

Key takeawayThe building's specs as its sources state them — the listing agent or the management can confirm a unit's own.

Facilities: car park; Source: CommercialGuru

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.

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

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 →

What has One Commonwealth sold for?

Key takeawayAcross 295 recorded transactions since 1995, the median price is about S$670k, most recently in Aug 2026.

Date	Use	Price	Area	PSF
Aug 2026	Multiple-user Factory	S$450k	1,582 sqft	$284
Apr 2026	Multiple-user Factory	S$448k	1,421 sqft	$316
Apr 2026	Multiple-user Factory	S$448k	1,421 sqft	$316
Apr 2026	Multiple-user Factory	S$448k	1,421 sqft	$316
Feb 2026	Multiple-user Factory	S$544k	1,679 sqft	$324
Feb 2026	Multiple-user Factory	S$440k	1,421 sqft	$310
Nov 2025	Multiple-user Factory	S$515k	1,679 sqft	$307
Jun 2025	Multiple-user Factory	S$1.12M	3,358 sqft	$333
May 2025	Multiple-user Factory	S$495k	1,421 sqft	$348
May 2025	Multiple-user Factory	S$428k	1,421 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. sqm ↔ sq ft converter

What does space at One Commonwealth rent for?

Key takeawayJTC publishes leases at One Commonwealth itself: strata factory space leased at a median of $2.97 psf a month in 2026Q3, with the middle half of leases between $2.85 and $3.22. 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

$2.85

$30.64 psm

Median

$2.97

$32.02 psm

75th pct

$3.22

$34.65 psm

S$ per sq ft per month · median -18.9% on a year earlier

2023Q4 · $32.58 psm2026Q3 · $32.02 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 Commonwealth Lane

Street level · 2026Q3

25th pct

—

— psm

Median

$2.97

$32.02 psm

75th pct

—

— psm

S$ per sq ft per month (median only published) · median -13.4% on a year earlier

2023Q4 · $32.58 psm2026Q3 · $32.02 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 One Commonwealth

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 One Commonwealth

Key takeawayBased on listings we track, as of our last check on 28 Aug 2026: 12 units for rent; 29 units for sale.

Rent: between 6 Aug 2026 and 28 Aug 2026, 3 new listings appeared and 5 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, 7 new listings 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 One Commonwealth?

Key takeawayURA has approved 2 changes of use at One Commonwealth since 2000, most recently in 2023. 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.

27 Jun 2023ApprovedFloor 7
Change of use
Retention of use of production units #07-XX, #07-XX & #07-XX for e-business (internet service provider, software development and call centre) at one commonwealth
22 Apr 2013ApprovedFloor 1
Change of use: ancillary canteen → production area, of an existing 9-storey multiple-user light industrial developm
Proposed change of use of unit #01-XX from ancillary canteen to production area, of an existing 9-storey multiple-user light industrial development at 1 commonwealth lane
3 Apr 2012ApprovedFloor 9
Additions & alterations
Proposed addition & alteration to the 9th storey factory units #09-XX to 03 with mezzanine floor involve repositioning of the existing staircase in the existing 9-storey multiple-user light industrial development

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 Commonwealth Lane price?

Key takeawayCommonwealth Lane's current JTC street rent is S$32.02 psm/month (2026Q3), which against the street's strata sale median works out to an indicative gross yield of 11.0% (9.9% net of property tax).

Strata sales on the street (5y)

Street median PSF (strata)

$320

Indicative street yield

11.0% gross

9.9% 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 One Commonwealth right now?

Key takeaway41 units are currently listed at One Commonwealth — 29 for sale and 12 for rent. One row per unit; several agents often market the same unit.

For sale (29)

One CommonwealthS$1.10M · 2,388 sqft
One CommonwealthS$543k · 1,281 sqft
One CommonwealthS$600k · 1,680 sqft
One CommonwealthS$530k · 1,194 sqft

For rent (12)

One CommonwealthS$5k/mo · 1,636 sqft
One CommonwealthS$3k/mo · 818 sqft
One CommonwealthS$7k/mo · 2,045 sqft
One CommonwealthS$1k/mo · 155 sqft

Browse every listing at this building →

What is near One Commonwealth?

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

Getting around

Commonwealth MRT247 m · ~4 min

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.

Getting there and parking at One Commonwealth

Key takeawayThe nearest station is Commonwealth (EW20), 213 m away — a moderately busy station, with about 29,000 taps in and out on an average weekday. 12 public car parks are within 500 m; the cheapest URA season parking nearby is S$90 a month.

Foot traffic: busier than 97% of industrial buildings

nearest MRT/LRT Commonwealth (EW20) 213 m, about 29,000 taps a weekday; 2 more stations within 1 km; bus stops within 400 m: 6, about 27,000 taps a weekday; Queenstown: 131,782 resident workers (Census 2020, by workplace); about 36,000 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

Commonwealth (EW20)213 m · about 29,000 weekday taps
Buona Vista (EW21 / CC22)703 m · about 64,000 weekday taps
Holland Village (CC21)725 m · about 22,000 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 One Commonwealth. Transfers between lines don't tap, so interchanges read low.

Bus

6 bus stops within 400 m, with about 27,000 boardings and alightings on an average weekday.

Public car parks within 500 m

Blk 115A Commonwealth Drive (HDB)244 m
S$0.60 per half-hour at midday on a weekday · 103 car lots
Tanglin Halt Close (URA)256 m
S$0.60 per half-hour at midday on a weekday · season S$90/month · 36 car lots
Blk 89 Commonwealth Drive (HDB)265 m
S$0.60 per half-hour at midday on a weekday · gantry 4.5 m
Blk 2/4/6/31/32 Holland Close (HDB)277 m
S$0.60 per half-hour at midday on a weekday · gantry 4.5 m · 256 car lots
Blk 54 Commonwealth Drive (HDB)297 m
S$0.60 per half-hour at midday on a weekday · gantry 2.15 m · 343 car lots

HDB season (car): Tier 1 $80/month (a resident's or registered HDB shop/industrial tenant's first car); Tier 2 (other cars, non-residents) $90 Rest of Island, $150 Designated Area, $165 Restricted Zone (surface). Which zone this car park is in is not published as data.

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

Who's registered at One Commonwealth?

Key takeaway593 live companies (and LLPs and branches; sole proprietors are not counted) list One Commonwealth as their registered address. These are registered businesses, not who occupies the space.

Professional, scientific and technical services
149
Wholesale and retail trade
117
Financial and insurance
75
Information and communications
51
Administrative and support services
38
Construction
29
Transportation and storage
27
Education
24
Manufacturing
23
Accommodation and food services
21

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$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.

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 295 recorded transactions, the median is S$472 psf. The latest was in August 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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Read the figures right

Completion year: as EdgeProp listings states it, not checked against an official record. Sales records start in 1995, which says nothing about when a building was built.

Developer: as CommercialGuru names it, not checked against an official record.

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.

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.

Season parking: the cheapest URA car season rate (commercial ticket) at a public car park within 500 m, per month. HDB's season rates depend on a zone we don't have, so they are shown as HDB's tiers.

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 EdgeProp listings, CommercialGuru, BCA's MCST register, JTC estate boundaries, URA planning decisions, HDB car park information (data.gov.sg), 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.

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.