IndustrialBUSINESS 1FreeholdDistrict 14 · Geylang

Tm@54

Reviewed by Nathan TangUpdated 8 November 2026Data through Apr 2021

Quick Summary

Tm@54 is a industrial building in District 14 · Geylang, on land zoned BUSINESS 1 under the URA Master Plan with a gross plot ratio of 2.5. It is freehold. 4 transactions are on record since 1995, most recently in Apr 2021. ACRA records 10 live company registrations at this address.

The facts are here — now get the verdict on Tm@54.

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What are the key facts about Tm@54?

Key takeawayTm@54 is a industrial building in District 14 · Geylang, zoned BUSINESS 1, held freehold.

Asset class: Industrial
Land-use zone: BUSINESS 1
Gross plot ratio: 2.5
Tenure: Freehold
District / Area: District 14 · Geylang
Address: 54 Lorong 23 Geylang
Land area: 389 sqm
Completed: Not on record
Storeys: 5 (© OpenStreetMap contributors)
Transactions on record: 4 (records start 1995)
Live listings: None
ACRA registrations: 10

About Tm@54

Tm@54 is an industrial building in Geylang (District 14). It is located along Lorong 23 Geylang, Singapore 388380.

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 freehold. It sits on about 389 sqm of land with roughly 971 sqm of gross floor area.

4 transactions have been recorded here, at a median of S$1,910 psf. The most recent was in April 2021.

Across JTC's rental returns for Lorong 23 Geylang, the median rent for industrial space on this street works out to about S$2.04 psf per month over 105 observations. Observed medians on the street span S$1.20 to S$2.99 psf per month. These are street-level figures from undated JTC snapshots, not a rent quoted for this property.

2 industrial projects are still uncompleted on this street, adding about 3,190 sqm of gross floor area, the earliest due around 2029.

The nearest port or airport land is about 5.2 km away. The closest business-park zone is about 2.7 km away. The nearest MRT is Aljunied MRT, 183 m away (about a 3-minute walk). The closest bus stop (Opp Aljunied Stn) is 64 m away (about a 1-minute walk).

12 businesses are currently registered at this address with ACRA.

What is Tm@54 zoned as?

Key takeawayTm@54 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 Tm@54 sold for?

Key takeaway4 transactions are on record since 1995, most recently in Apr 2021 — too few to support a median, so the deals themselves are listed instead.

Date	Use	Price	Area	PSF
Apr 2021	Multiple-user Factory	S$9.00M	4,183 sqft	$2,152
May 2017	Single-user Factory	S$8.00M	4,183 sqft	$1,913
Jun 2012	Single-user Factory	S$7.97M	4,183 sqft	$1,907
Nov 2011	Single-user Factory	S$7.80M	4,183 sqft	$1,865

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 Tm@54 rent for?

Key takeawayNo rent is published for Tm@54 itself. On its street, Lorong 23 Geylang, strata factory space rented at a median of $3.09 psf a month in 2026Q3. That is not this building's own rent, and never a quote for a particular unit.

Strata factory space on Lorong 23 Geylang

Street level · 2026Q3

25th pct

—

— psm

Median

$3.09

$33.27 psm

75th pct

—

— psm

S$ per sq ft per month (median only published) · median +6.9% on a year earlier

2023Q4 · $30.41 psm2026Q3 · $33.27 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 Tm@54

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 does Lorong 23 Geylang price?

Key takeawayLorong 23 Geylang's current JTC street rent is S$33.27 psm/month (2026Q3), which against the street's strata sale median works out to an indicative gross yield of 3.6% (3.2% net of property tax).

Strata sales on the street (5y)

Street median PSF (strata)

$943

Indicative street yield

3.6% gross

3.2% 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 near Tm@54?

Key takeawayThe nearest MRT/LRT is Aljunied MRT, about 183 m away.

Getting around

Aljunied MRT183 m · ~3 min

Amenities nearby

Opp Aljunied Stn · 64 mEducational Institution · 109 mAljunied MRT Exit A · 132 mECM Clinic & Surgery · 184 mBlk 49 Sims Place · 279 m

Straight-line distances. Source: PropKaki amenities data.

Getting there and parking at Tm@54

Key takeawayThe nearest station is Aljunied (EW9), 132 m away — a busy station, with about 47,000 taps in and out on an average weekday. 36 public car parks are within 500 m; the cheapest URA season parking nearby is S$90 a month.

Foot traffic: busier than 99% of industrial buildings

nearest MRT/LRT Aljunied (EW9) 132 m, about 47,000 taps a weekday; bus stops within 400 m: 12, about 31,000 taps a weekday; Geylang: 116,481 resident workers (Census 2020, by workplace); about 48,000 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

Aljunied (EW9)132 m · about 47,000 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 Tm@54. Transfers between lines don't tap, so interchanges read low.

Bus

12 bus stops within 400 m, with about 31,000 boardings and alightings on an average weekday.

Public car parks within 500 m

Lor 21A Geylang (URA)124 m
S$0.60 per half-hour at midday on a weekday · 8 car lots
Lor 23 Geylang (URA)132 m
S$0.60 per half-hour at midday on a weekday · 52 car lots
Lor 25 Geylang (URA)156 m
S$0.60 per half-hour at midday on a weekday · 34 car lots
Lor 25 - 25A Geylang O Ff St (URA)158 m
S$0.60 per half-hour at midday on a weekday · 105 car lots
Blk 52 Sims Place (HDB)164 m
S$0.60 per half-hour at midday on a weekday · gantry 4.5 m · 40 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. Tm@54's own car park, if it has one, and its charges are not in the open data.

Who's registered at Tm@54?

Key takeaway10 live companies (and LLPs and branches; sole proprietors are not counted) list Tm@54 as their registered address. These are registered businesses, not who occupies the space.

Accommodation and food services
4
Administrative and support services
2
Professional, scientific and technical services
2
Financial and insurance
1
Transportation and storage
1
Wholesale and retail trade
0
Arts, entertainment and recreation
0
Other services
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$21.98 psm/month — an all-time median from 2000 onwards, not a current rent.

Street rent, median: S$21.98 psm/mo
Observed range: S$12.92 – S$32.15
Pipeline on this street: 2 projects · earliest TOP 2029

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 Tm@54

Where is Tm@54?⌄

Tm@54 is at 54 Lorong 23 Geylang, Singapore 388380, in the Geylang planning area.

What is Tm@54 zoned as?⌄

Tm@54 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 Tm@54?⌄

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 Tm@54?⌄

Tm@54 is freehold.

What have units at Tm@54 sold for?⌄

Across 4 recorded transactions, the median is S$1,910 psf. The latest was in April 2021.

What does industrial space near Tm@54 rent for?⌄

JTC's rental returns for Lorong 23 Geylang put the median at about S$2.04 psf per month. That is a street-level figure from undated snapshots covering all industrial space on Lorong 23 Geylang, not a rent quoted for Tm@54 itself.

What is the nearest MRT station to Tm@54?⌄

Aljunied MRT is the closest, 183 m away (about a 3-minute walk).

How many businesses are registered at Tm@54?⌄

12 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.

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 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.