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Cendex Centre Review

Cendex Centre Review
Industrial & Commercial Property Review — District 03

Cendex Centre

A 16-storey B1 light industrial address on Lower Delta Road, close to Tiong Bahru MRT and the city fringe.

SGCPI Research Desk Updated August 2026 120 Lower Delta Road, Singapore 169208 60-YR LEASEHOLD FROM 2005

Street-level view near Cendex Centre, 120 Lower Delta Road, Singapore 169208. Imagery: Google Street View (user-contributed imagery), accessed August 2026.

Project Overview

Building NameCendex Centre
Address120 Lower Delta Road, Singapore 169208
DistrictDistrict 03 — Alexandra / Commonwealth, Bukit Merah
Tenure60-year leasehold from 2005 (≈39 years remaining)
Zoning / UseB1 Light Industrial
Built Form16-storey light industrial building; mix of flatted and ramp-up units
Land Area / GFA≈11,642 sqm land / ≈30,000 sqm GFA
Completion Year2007 (TOP)
Nearest MRTTiong Bahru (EW17), Redhill (EW18)
Key Road AccessAyer Rajah Expressway (AYE), Central Expressway (CTE), Jalan Bukit Merah
Transacted PSF Range≈S$650 – S$860 psf
Sale Price Range≈S$780,000 – S$3,500,000
Asking Rent Range≈S$3,000 – S$11,400 per month
Occupier BaseSME manufacturers, trading, logistics and engineering support firms

Location & Connectivity

Cendex Centre sits along Lower Delta Road in the Bukit Merah planning area, part of the broader Alexandra / Commonwealth precinct that makes up District 03. This is one of Singapore’s more established city-fringe industrial pockets, wedged between the residential heartlands of Tiong Bahru and Redhill and the commercial spine running toward the Central Business District. Occupiers here benefit from a location that feels distinctly urban rather than remote-industrial, with the CBD, Robertson Quay and Orchard Road all within a short drive.

Connectivity is a genuine strength. Tiong Bahru MRT (EW17) and Redhill MRT (EW18) on the East-West Line are both within reasonable walking distance, placing the CBD at Raffles Place roughly ten minutes away by train. Keppel MRT on the Circle Line extension adds a further option for staff commuting from the south and east. By road, the development has quick access onto the Ayer Rajah Expressway and Central Expressway via Jalan Bukit Merah, which is useful for outbound logistics runs to Jurong, the airport, or the northern industrial belt without threading through congested arterial roads.

The immediate surroundings mix industrial, residential and retail uses, which supports a reasonably lively daytime population. Tiong Bahru Plaza and Depot Heights Shopping Centre cover retail, banking and F&B needs within a short walk or drive, while Cold Storage and NTUC FairPrice outlets serve everyday grocery runs for staff. The nearby Tiong Bahru Market & Food Centre is a well-known lunch destination for workers based in this cluster, and several eateries operate within Cendex Centre itself and neighbouring blocks along Lower Delta Road.

Location of Cendex Centre on Lower Delta Road. Map data: Google Maps, accessed August 2026.

Building & Facilities

Cendex Centre is a 16-storey light industrial development completed in 2007, built to a fairly typical B1 flatted-factory format with a supporting run of ramp-up units on the lower floors. The ramp-up units allow vehicles to drive directly up to the unit entrance, which occupiers in logistics, light assembly and trade distribution tend to favour, while the flatted upper floors are better suited to office-intensive, showroom or light manufacturing uses served by passenger and cargo lifts. Ceiling heights and floor loading vary by unit and stack, generally ranging from roughly 3.7m to 6m in height with floor loading in the 7.5–10 kN/sqm band, so prospective buyers should always verify the exact specification of the specific unit before committing.

Common facilities are functional rather than lavish, consistent with the building’s age and B1 positioning: shared lift lobbies, loading bays with an elevated platform able to accommodate vehicles up to around 12 metres, cargo lift service, and a management office on site. Units are typically handed over in bare-shell or lightly fitted condition, so incoming occupiers should budget for renovation, partitioning, air-conditioning and electrical upgrading works as part of their fit-out costs, particularly for units that have not been refreshed since an earlier tenancy.

As with any strata-titled B1 asset of this vintage, buyers and tenants should conduct their own due diligence on permitted use, fire safety certification, and any restrictions tied to the original industrial land alienation terms before signing. A check with URA’s Space Use Permission system and a review of the management corporation’s by-laws is a sensible step before finalising a purchase or long-term lease, since actual permitted activities can be narrower than the broad B1 label suggests.

Unit Types & Floor Plan Notes

Cendex Centre offers a fairly broad spread of unit sizes and configurations across its 16 storeys, from compact starter units suitable for small trading or service businesses through to larger combined-floor spaces for manufacturers needing more contiguous floor area. The mix of ramp-up and flatted stock gives buyers flexibility depending on whether direct vehicle access or office-style presentation matters more to their operations.

Compact Flatted Unit

≈800 – 1,200 sqft

Entry-level footprint on mid-to-high floors, well suited to small trading firms, service providers or storage-plus-office setups needing a lower capital outlay.

Standard Flatted Unit

≈1,500 – 2,000 sqft

The most commonly transacted size band, offering a workable balance of office and light-industrial floor area for established SMEs.

Ramp-Up Ground / Low-Floor Unit

≈2,000 – 3,000 sqft

Direct vehicle access with dedicated carpark lots in front of the unit; favoured by logistics, distribution and light assembly occupiers.

Combined / Large-Format Unit

≈3,500 sqft and above

Formed by combining adjoining units where the layout allows, giving manufacturers or larger operations more contiguous production or storage space.

Floor loading: ≈7.5 – 10 kN/sqm, varies by unit and floor
Ceiling height: ≈3.7m – 6m depending on unit type
Electricity supply: ≈16 – 45 kVA per unit
Water supply: ≈5 cu m, subject to metering arrangement
Loading / cargo lift: Elevated loading platform for vehicles up to ≈12m, cargo lift capacity ≈1.6 tonnes

Investment Case

Cendex Centre’s appeal rests largely on its city-fringe address and dual MRT access, which is unusual for a B1 industrial building of this vintage and puts it ahead of many peers further out in the western or eastern industrial belts on pure locational grounds. The trade-off is a lease that is now roughly two decades into its 60-year term, which shapes both financing options and the eventual exit timeline that buyers need to plan around.

What Works

  • Genuine dual-MRT access via Tiong Bahru and Redhill stations, rare for a B1 asset this close to the CBD.
  • Quick expressway access onto the AYE and CTE for logistics-heavy occupiers.
  • Mix of ramp-up and flatted stock gives flexibility across different occupier profiles.
  • Established estate with mature amenities, F&B and retail on the doorstep.
  • Relatively affordable entry quantum compared with newer B1 developments in the same district.

What to Weigh Carefully

  • Remaining lease of roughly 39 years narrows the pool of banks and loan tenures available.
  • Building age means fit-out, M&E and common-area upgrading costs should be budgeted for.
  • B1 use restrictions apply — always confirm permitted activities before purchase.
  • Rental and resale liquidity can be thinner than for larger, newer industrial parks.
  • No firm en-bloc or redevelopment catalyst is currently apparent for this site.

Who This Suits

Cendex Centre tends to suit owner-occupier SMEs in trading, light engineering, logistics support and service industries that value a genuinely central, well-connected address over a brand-new building envelope. It also appeals to smaller investors seeking industrial exposure at a lower absolute quantum than newer city-fringe developments, provided they are comfortable with the shrinking lease runway and are realistic about financing and eventual exit timing. It is less suited to buyers who need a very long freehold-style holding period, or businesses whose activities fall outside standard B1 permitted use and would require special approval.

Frequently Asked Questions

What is the permitted use for units at Cendex Centre?
Cendex Centre is zoned B1 Light Industrial, which generally permits clean and light manufacturing, assembly, warehousing, workshops, and ancillary offices that support these activities. It is not zoned for general commercial office use, retail, or residential occupation, and heavier or more polluting industrial processes typically fall under B2 zoning instead. Actual permitted use for a specific unit can also be shaped by the original land alienation terms and the management corporation’s house rules, so buyers and tenants should not rely on the B1 label alone. Before signing, it is worth checking URA’s Space Use Permission system and, where the intended use is unusual, applying for written confirmation to avoid enforcement issues after moving in.
Can foreigners buy a unit at Cendex Centre?
Yes. Industrial properties such as Cendex Centre are not covered by the Residential Property Act, so foreign individuals and foreign-owned companies can generally purchase strata industrial units without the approvals required for residential property. This makes B1 industrial space a comparatively accessible asset class for overseas investors and regional businesses looking to establish a Singapore base. That said, foreign buyers should still budget for standard costs such as legal fees, stamp duties and, if applicable, financing arrangements that may differ from those offered to Singapore citizens or permanent residents. Engaging a local conveyancing lawyer early is advisable to confirm eligibility and structure the purchase correctly, especially where financing is involved.
Does Additional Buyer’s Stamp Duty (ABSD) apply to industrial purchases?
No. ABSD is a residential property measure and does not apply to industrial properties like Cendex Centre, regardless of whether the buyer is a Singapore citizen, permanent resident, foreigner, or company. This is one of the reasons industrial and B1 assets have historically attracted investor interest, since the additional cooling-measure duties layered onto residential purchases simply do not apply here. Buyers should note, however, that other duties such as Buyer’s Stamp Duty still apply in full, and that financing terms for industrial property are generally less generous than for residential property, with lower loan-to-value ratios and shorter tenures typically offered by banks.
Is Seller’s Stamp Duty (SSD) a concern when reselling an industrial unit here?
Industrial properties, including B1 units at Cendex Centre, are subject to their own Seller’s Stamp Duty regime, separate from the residential SSD framework. Under current rules, industrial property sold within the holding period incurs SSD on a sliding scale, so short-term flipping is discouraged and buyers intending a quick resale should factor this cost into their exit math. Investors with a genuine medium-to-long-term holding horizon are less affected, since the duty tapers off and eventually falls away once the applicable holding period has passed. Always check the prevailing SSD rates and holding period at the time of purchase, as these have been adjusted by the authorities in the past.
What Buyer’s Stamp Duty (BSD) and GST apply on purchase?
Buyer’s Stamp Duty applies to industrial purchases on the same progressive scale used for other non-residential property, calculated on the higher of purchase price or market value. Separately, if the seller is GST-registered, Goods and Services Tax may be chargeable on the sale price of the industrial unit, which is a cost residential buyers never encounter. This makes it important to clarify upfront in the Option to Purchase whether the quoted price is GST-inclusive or exclusive, since GST can add a meaningful sum to the total outlay. Buyers financing through a company should also check whether GST can be claimed back if the entity is itself GST-registered and using the unit for taxable business activities.
How does the remaining lease affect financing for a unit at Cendex Centre?
With roughly 39 years remaining on the original 60-year lease, financing options at Cendex Centre are somewhat more constrained than for a newer or freehold industrial asset. Banks typically cap loan tenure so that the loan is fully repaid well before the lease expires, and loan-to-value ratios for industrial property are already lower than residential norms, often around 70–80% for eligible buyers. As the lease continues to run down, some lenders become more conservative, which can affect both the buyer’s own financing today and a future buyer’s ability to secure a loan when the unit is eventually resold. Prospective buyers should get an indicative financing assessment from their bank before committing.
What rental yield can an investor reasonably expect?
Based on current asking rents of roughly S$3,000 to S$11,400 per month against sale prices spanning roughly S$780,000 to S$3,500,000, gross yields at Cendex Centre broadly fall in a mid-single-digit range typical of established city-fringe B1 stock, though actual figures vary considerably by unit size, floor and fit-out condition. Smaller, well-located units close to the lift lobby or with ramp-up access tend to command relatively higher yields per square foot than larger combined units. Investors should always underwrite using net yield after MCST fees, property tax, maintenance and periodic vacancy, rather than headline gross figures, and benchmark against recent comparable transactions rather than asking prices alone.
How does the building’s age affect maintenance and future costs?
Completed in 2007, Cendex Centre is now approaching two decades old, which means common building systems such as lifts, fire protection equipment, external facades and car park infrastructure are entering a phase where periodic upgrading becomes more likely. This is a normal part of the lifecycle for a strata industrial building of this age and is usually funded through the sinking fund collected via MCST charges, rather than sudden special levies, provided the fund has been prudently managed. Prospective buyers should ask the management corporation for recent AGM minutes, sinking fund balances and any planned major works to gauge whether costs are being managed proactively or deferred.
What are the odds of an en-bloc sale or redevelopment at Cendex Centre?
There is no publicly known en-bloc or collective sale process underway at Cendex Centre at the time of writing, and no clear redevelopment catalyst has been identified for the site. Collective sales for strata industrial buildings are generally less common and more procedurally complex than for residential developments, requiring high ownership consensus thresholds under the Land Titles (Strata) Act. Given the remaining lease length and the building’s functional but ageing condition, buyers should treat any en-bloc outcome as a low-probability, long-horizon possibility rather than a core part of the investment thesis, and instead underwrite the purchase on rental income and eventual lease-driven resale dynamics.
What parking and loading provisions does Cendex Centre offer?
The development includes on-site car park lots, with some ramp-up units offering dedicated private lots directly in front of the unit for easy loading and staff or visitor parking. Ground-floor loading bays feature an elevated platform designed to accommodate vehicles up to roughly 12 metres in length, supported by a cargo lift for occupiers on upper floors. Availability of dedicated versus shared parking varies by unit and stack, so buyers whose operations depend on frequent vehicle access or fleet parking should verify the specific allocation attached to any unit under consideration, ideally by requesting the MCST’s parking lot allocation records before purchase.
What are typical MCST or maintenance fees like at Cendex Centre?
As a strata-titled development, Cendex Centre is managed by a Management Corporation Strata Title (MCST) that collects monthly maintenance fees from all unit owners to cover common area cleaning, security, lift servicing, sinking fund contributions and building insurance. Fees are typically calculated based on each unit’s share value and can vary depending on unit size and any planned major works in a given year. Buyers should request the latest maintenance fee schedule and recent financial statements from the management office or managing agent before purchase, since these charges form a recurring cost that directly affects net rental yield and overall holding cost.
How liquid is the resale market for units at Cendex Centre?
Resale liquidity for Cendex Centre reflects the broader B1 strata industrial market in District 03: transactions occur steadily but not as frequently as in larger business parks with hundreds of comparable units, and pricing can be sensitive to unit size, floor level and remaining lease at the point of sale. Smaller, well-configured units in the S$700,000 to S$1.5 million range tend to attract a broader buyer pool, including owner-occupiers, and typically transact faster than larger combined units. Sellers should expect a realistic marketing period of several months rather than a quick flip, and should price with reference to recent comparable transactions rather than peak historical prints.
What types of businesses are best suited to operate from Cendex Centre?
Given its B1 zoning, dual-MRT access and mix of ramp-up and flatted units, Cendex Centre suits light manufacturing, product assembly, trading and distribution firms, engineering workshops, IT and equipment servicing companies, and businesses needing warehousing paired with an office presence close to the city. The central location also appeals to firms that want staff to have an easy commute without paying CBD-grade rents, and to companies whose clients occasionally visit the premises, since the estate feels more accessible than industrial parks further from the city core. Businesses considering heavier processes, higher noise or emission levels, or large-scale logistics operations should first confirm feasibility against B1 use limits and building specifications.

This article is provided for general informational purposes only and does not constitute financial, legal, investment or professional advice. Figures on pricing, rental, tenure, GFA and building specifications are compiled from publicly available listings and property data sources as of the update date shown above and may have changed since publication; figures prefixed with “≈” are reasoned estimates. Prospective buyers and tenants should independently verify all details, including permitted use, remaining lease, financing eligibility and building condition, with the relevant authorities, the management corporation and their own professional advisors before making any purchase or leasing decision.

© 2026 SG Commercial Property Insights. All rights reserved.

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