Model the full cost of buying a unit at Space Nova, the freehold B1 industrial development at 21 New Industrial Road. Enter the purchase price and loan assumptions to see the price including GST, the cash you need during the 8-week S&P period, and every progressive payment stage with the bank's disbursement and the monthly interest, principal and repayment as the loan is drawn.
Figures update as you type.
90% is generally offered to an operating company taking the unit for its own use. Investment purchases are usually capped nearer 80%.
Check the rate that applies after the lock-in ends, not just the headline rate.
Used only for the property tax estimate at the foot of the page.
Add a booking date to turn the week numbers into dates.
At the loan-to-value selected on the left.
GST is charged on each instalment as it falls due, not once at the end.
Your own funds only. Anything the bank draws down is excluded.
This is upfront cost only. The construction instalments below are drawn down by your bank as each stage completes, with the GST on each one payable in cash.
Sale of Commercial Properties Act schedule. Timelines are indicative and set by construction progress, not by calendar dates.
Swipe sideways to see the full table
| Stage | Timeline | % | Instalment | GST 9% | Your cash | Loan drawn | Loan % | Interest | Principal | Repayment |
|---|
Once the loan is fully drawn.
During construction you pay interest only on what has been drawn so far, so the amount climbs stage by stage — see the two right-hand columns above.
Payable from TOP onwards. Nothing is levied during construction.
Commercial and industrial property is taxed at a flat 10% of Annual Value. IRAS sets the Annual Value from market rents for comparable units — the rent figures here are your own estimate, not an assessment.
Same price, tenure and rate; only the loan differs.
Buyer's Stamp Duty is computed on the price before GST using the commercial scale — 1% on the first $180,000, 2% on the next $180,000, 3% on the next $640,000, 4% on the next $500,000 and 5% above $1,500,000 — and Additional Buyer's Stamp Duty does not apply to this purchase, so none is shown. For the duty on its own, with the band-by-band working, use the stamp duty calculator. GST at 9% is then added to the full price and charged on each instalment as it falls due, which is why the S&P period block shows GST on the 20% separately from GST on the whole price. The stages follow the commercial/industrial schedule set out on the payment scheme page: 20% across the S&P period, then 10%, 10%, five stages of 5%, 25% at TOP/CSC and 10% on completion.
There is no fixed regulatory ceiling on the loan-to-value for a purchase like Space Nova; each bank sets its own limit based on how the unit will be used. Around 90% is generally offered to an operating company taking the unit for its own occupation, while investment purchases are usually capped nearer 80% — see the industrial loan information page. The Sale of Commercial Properties Act schedule fixes what is owed to the developer at each point, not who supplies the funds: at 90% the amount above the stage sum is drawn by the bank at completion of the sale, once the mortgage is in place, which is why the 90% column shows lower initial cash. At ratios below 80% the loan exhausts before the final stages and the balance reverts to your own funds — the "Your cash" column shows exactly where.
This cannot be determined from the outside; it turns on the purchasing entity. The general guideline is that an operating company — GST-registered and already carrying on taxable business activities — may claim the GST as input tax as it is incurred through construction. A non-operating company, such as a newly incorporated or investment-holding vehicle not yet carrying on taxable activities, would not usually begin claiming during construction; claims may instead start once the property reaches TOP and operating activities commence. In every case the position is subject to the rules set by IRAS — see the stamp duty & GST page and confirm with IRAS or a tax adviser.
Fitting-out and renovation, bank valuation and processing fees, mortgage stamp duty, insurance and maintenance fees are outside the model. For an owner-occupier moving from rented premises, the rent on the existing premises will run alongside the progressive interest until TOP — budget for both. Confirm the current unit price on the Space Nova price list, then register for a showflat appointment to review the numbers with the team.
Yes. Because the developer is GST-registered, 9% GST is charged on the amount owed at the S&P period and on each construction-stage instalment as it falls due. GST follows what is owed to the developer, so it is payable in cash even on amounts the bank finances.
Banks generally offer up to about 90% to an operating company buying the unit for its own use, with investment purchases capped nearer 80%. The 20% owed to the developer during the 8-week S&P period is still payable, but at 90% the excess above the stage sum is drawn by the bank at completion of the sale, which is why the calculator shows lower initial cash at that ratio.
Nothing is levied during construction. From TOP onwards, IRAS taxes the unit at a flat 10% of its Annual Value, which IRAS sets from market rents for comparable industrial units. The calculator's estimate uses your own rent-per-square-foot assumption, not an IRAS assessment.
Freehold industrial like Space Nova rarely comes to market. Register now to receive the brochure, indicative price guide and balance units ahead of public release.