Victory Centre

Asset class

Industrial

Land-use zone

BUSINESS 1

Gross plot ratio

2.5

Tenure

Leasehold

District / Area

District 14 · Geylang

Address

110 Lorong 23 Geylang

Land area

6,312 sqm

Completed

2015 (JTC industrial completions)

Storeys

8 (© OpenStreetMap contributors)

Developer

Fragrance Biz Space Pte Ltd (JTC industrial completions)

Listed as

Light Industrial (B1), Food & Beverage

Transactions on record

1 (records start 1995)

Live listings

10

ACRA registrations

97

Victory Centre is an industrial building in Geylang (District 14). It is located along Lorong 23 Geylang, Singapore 388410.

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 46 years left to run. It sits on about 6,312 sqm of land with roughly 15,780 sqm of gross floor area.

1 transaction has been recorded here, at a median of S$1,325 psf. The most recent was in June 2022.

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 5.5 km away. The closest business-park zone is about 2.4 km away. The nearest MRT is Aljunied MRT, 256 m away (about a 4-minute walk). The closest bus stop (Bef Blk 53) is 108 m away (about a 2-minute walk).

108 businesses are currently registered at this address with ACRA.

Land-use zone

BUSINESS 1

Gross plot ratio

2.5

Run the full zoning report for this building →

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

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.

1. 29 Apr 2026RenewedFloor 2
   Continued use as general industry

   Continued use of units #02-XX and #02-XX as general industry

2. 27 Apr 2026RenewedFloor 2
   Continued use as students care centre

   Continued use of unit #02-XX as students care centre

3. 29 Jan 2026ApprovedFloor 7
   Change of use to indoor farm

   Proposed change of use of unit #07-XX to indoor farm

4. 5 Jul 2023ApprovedFloor 2
   Change of use to students care centre

   Proposed change of use of unit #02-XX to students care centre

5. 13 Apr 2023ApprovedFloor 2
   Change of use to food catering

   Proposed change of use of unit #02-XX and #02-XX to food catering (central kitchen)

6. 13 Oct 2021RenewedFloor 2
   Continued use as industrial canteen

   Continued use of unit #02-XX & #02-XX as industrial canteen at the existing 7-storey multiple user light industrial building

7. 28 Jul 2021ApprovedFloor 7
   Change of use to warehouse

   Change of use of the 7th storey with mezzanine factory unit #07-XX to warehouse

8. 4 May 2021ApprovedFloor 1
   Change of use to student care centre

   Proposed change of use of factory unit #01-XX to student care centre

9. 9 Jan 2021ApprovedFloor 4
   Change of use

   Use of the 4th storey warehouse unit #04-XX for storage of liquor

10. 31 Dec 2020ApprovedFloor 1
    Change of use to students care centre

    Change of use of the 1st storey unit #01-XX to students care centre

11. 3 Nov 2020ApprovedFloor 5
    Change of use to core media activities

    Change of use of the 5th storey factory unit #05-XX to core media activities

12. 23 Oct 2020ApprovedFloor 1
    Change of use to childcare centre

    Change of use of the 1st storey unit #01-XX to childcare centre

5 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).

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.

Browse every listing at this building →

Straight-line distances. Source: PropKaki amenities data.

• Professional, scientific and technical services
  29
• Wholesale and retail trade
  21
• Manufacturing
  14
• Information and communications
  13
• Education
  6
• Construction
  5
• Administrative and support services
  5
• Other services
  2
• Financial and insurance
  1
• Health and social services
  1

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.

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.