Project Overview
Building NameCT Hub 2
Address114 Lavender Street, Singapore 338729
DistrictDistrict 12 (Kallang planning area)
Tenure99 years from 14 Jan 1976, expiring 2075 (≈49 years left)
Zoning / UseBusiness 1 (B1) with White component
Built FormPart 13 / part 10-storey light industrial block joined to an 18-storey office block; shops at 1st storey; car park 1st–4th storey
Land Area / GFA≈13,203 sqm land / ≈42,822 sqm GFA (plot ratio ≈3.2)
Completion Year2015 (TOP July 2015)
Nearest MRTBendemeer DT23 ≈220 m; Lavender EW11 ≈480 m; Farrer Park NE8 ≈900 m
Key Road AccessLavender Street, Bendemeer Road, Kallang Road; KPE and PIE within a short drive
Transacted PSF RangeFactory ≈S$977–S$1,464 psf; shop ≈S$2,410–S$2,791 psf; office ≈S$1,700 psf
Sale Price Range≈S$758,000 – ≈S$7,400,000
Asking Rent Range≈S$4.50–S$7.50 psf per month (B1 and office); ≈S$9–S$14 psf (1st-storey shops)
Occupier BaseSME offices, cloud kitchens and F&B, trading and fulfilment firms, childcare and serviced-office operators; developer Chiu Teng @ Kallang Pte Ltd
Location & Connectivity
CT Hub 2 stands on the western edge of Kallang, where Lavender Street meets Bendemeer Road and the Kallang Basin industrial belt gives way to the Jalan Besar shophouse grid. The postal district is 12, but the working geography is city fringe: Raffles Place is roughly four kilometres away and the Beach Road and Rochor corridors are closer still. For occupiers priced out of the central business district, this pocket has become the standard compromise.
Connectivity is the building’s strongest single attribute. Bendemeer station on the Downtown Line sits about ≈220 metres from the entrance, a three to four minute walk, while Lavender station on the East–West Line is roughly ≈480 metres and Farrer Park on the North East Line about ≈900 metres. That gives staff three lines without a transfer. By road, Lavender Street feeds into Kallang Road and Serangoon Road, and the Kallang–Paya Lebar and Pan-Island expressways put Changi Airport within ≈20 minutes off-peak.
The amenity base is unusually deep for an industrial address. Aperia Mall is a short walk across Kallang Road with a supermarket and food court, while Kitchener Complex, City Square Mall and Mustafa Centre serve the Farrer Park side. Within CT Hub 2 and its sister block, tenants have a staff canteen, cafés, food kiosks and a childcare centre — a combination that softens the staff-retention penalty usually attached to a B1 address.
Building & Facilities
The development is not a single tower. It pairs a part 13-storey, part 10-storey multiple-user light industrial building with an 18-storey office building, with shop units at the first storey and car parking stacked from the first to the fourth. The site covers ≈13,203 square metres against a gross floor area of ≈42,822 square metres, implying a plot ratio near ≈3.2 — dense for a Business 1 parcel, and a consequence of the White component in the zoning.
Facilities read closer to a strata office scheme than a factory estate. The fifth storey carries a lap pool, a reflective pool, a fitness corner, a spa and a barbecue pavilion; common corridors and lift lobbies are air-conditioned, and three lift lobbies handle circulation across an estimated ≈6 to 8 passenger lifts plus cargo provision. Access is 24-hour with CCTV coverage, and parking runs to 540 lots alongside 14 loading and unloading bays.
Due diligence should be specific rather than general. Because the scheme mixes industrial, office and shop strata under one management corporation, the use term on a particular lot matters far more than the building’s overall description. Confirm the approved use on URA and JTC records, check any mezzanine or internal staircase against approved plans, and establish whether reinstatement obligations survive from an earlier tenancy before pricing a fit-out.
Unit Types & Floor Plan Notes
The stack splits into four commercial products across ≈429 strata lots — roughly ≈310 light industrial units, ≈77 office units, 41 first-storey shops and one ancillary staff canteen of ≈7,470 square feet. Sizes run from compact shop bays to full industrial floorplates, and adjoining lots are frequently combined by owners.
Shop / F&B — 1st Storey
≈237 – 581 sq ft
Small bays fronting the internal food street, several approved for food and beverage and for drive-through pick-up. They command the highest psf in the scheme and trade on footfall from the surrounding residential and industrial catchment.
B1 Light Industrial
≈1,163 – 1,600 sq ft
The core product. Regular rectangular floorplates with private toilets, individually installed air-conditioning and a window line — workable for assembly, fulfilment, laboratories or design studios operating under Business 1 use terms.
Combined B1 Floorplate
≈1,900 – 2,325 sq ft
Larger lots, or two adjoining units merged through the party wall. Several carry high ceilings with an internal staircase to a mezzanine, adding ancillary office area without buying additional strata.
Office Tower Unit
≈650 – 1,350 sq ft
Units in the 18-storey office block, often taken in adjoining pairs. Fitted stock with directors’ rooms and pantries changes hands regularly, and the office use term avoids the industrial ancillary-office restriction entirely.
Typical Ceiling Height: ≈3.6 m; ≈5.5–6.0 m in mezzanine-capable lower units
Floor Loading: ≈10 kN/m² upper levels; ≈15 kN/m² lower levels
Power Supply: ≈50–100 amp three-phase per unit, subject to upgrade
Vertical Transport: 3 lift lobbies; ≈6–8 passenger lifts plus cargo provision
Car Park / Loading: 540 lots; 14 loading and unloading bays; season parking ≈S$120 per month, first vehicle
Investment Case
The numbers are workable rather than spectacular. Factory lots have transacted between ≈S$977 and ≈S$1,464 per square foot over the past twelve months, shop units between ≈S$2,410 and ≈S$2,791, and the most recent recorded office transaction sat near ≈S$1,700. Listed asking prices span ≈S$758,000 to ≈S$7,400,000, and asking rents of ≈S$4.50 to ≈S$7.50 per square foot monthly imply a gross yield around ≈3.5% to ≈4.5%.
What Works
- Three MRT lines on foot, with Bendemeer station roughly ≈220 metres from the entrance
- Amenity depth — pool, gym, canteen, childcare, Aperia Mall — that few B1 addresses match
- Three product types under one roof, so exit routes differ by lot rather than moving together
- Steady transaction volume since 2015, which gives valuers usable comparable evidence
- Entry pricing well below comparable city-fringe office stock on a per-square-foot basis
What to Weigh Carefully
- A remaining lease of ≈49 years is the central constraint and shortens every year
- Industrial use terms exclude many service businesses that would otherwise want the address
- Maintenance of ≈S$0.35–S$0.50 psf is high for B1, a direct cost of the resort-style facilities
- Wide psf dispersion inside the building means unit selection matters more than the address
- Collective sale prospects are negligible across ≈429 owners on an already dense site
Who This Suits
CT Hub 2 suits an owner-occupier with a ten to fifteen year horizon who needs a city-fringe address staff can reach easily, and whose activity genuinely fits a Business 1 or office use term — light assembly, e-commerce fulfilment, testing laboratories, design and media studios, training providers, and back-office functions in the office block. First-storey shop bays suit food operators and cloud kitchens feeding a dense residential catchment. It suits passive capital-growth investors less well: the shortening lease caps appreciation, so the case rests on rental income and occupation cost savings rather than resale upside.
Frequently Asked Questions
Which businesses can legally operate from a unit here?
Permitted use attaches to the individual strata lot, not to the building. Light industrial lots sit under Business 1 terms, allowing assembly, testing, research, e-commerce fulfilment, design and media production, and warehousing ancillary to those activities, with only a limited proportion of ancillary office. Pure professional services, tuition centres and retail counters generally do not qualify. Office lots in the 18-storey block carry an office use term and suit consultancy, technology and back-office firms. First-storey shops hold commercial approvals, several endorsed for food and beverage including cloud kitchens. Confirm the approved use of the exact unit with URA and JTC before committing.
Can foreigners or foreign companies buy at CT Hub 2?
Yes. Industrial, office and shop strata are non-residential property and fall outside the Residential Property Act, so no Singapore Land Authority approval is needed and there is no restriction on foreign individuals or foreign-incorporated entities taking title. The friction sits elsewhere. Local banks apply tighter loan-to-value ratios and shorter tenures to overseas borrowers, and some will not finance a leasehold industrial asset for a non-resident at all. Buyers of industrial lots should also check whether occupier qualifying conditions apply, since these can require a Singapore-registered operating entity rather than a passive holding vehicle.
Do ABSD and Seller’s Stamp Duty apply?
Additional Buyer’s Stamp Duty does not. It is a residential-only levy, so a buyer pays none here regardless of how many properties they already hold or whether the purchaser is a company or a trust. Seller’s Stamp Duty is a different matter: industrial property sold within three years of acquisition attracts 15% in the first year, 10% in the second and 5% in the third, on the higher of price or market value. Office and shop lots fall outside that industrial regime. Since most lots here are light industrial, treat three years as the practical minimum hold.
How is Buyer’s Stamp Duty calculated on a purchase?
Non-residential Buyer’s Stamp Duty is tiered: 1% on the first S$180,000, 2% on the next S$180,000, 3% on the next S$640,000, 4% on the next S$500,000, 5% on the next S$1.5 million and 6% on the balance, applied to the higher of purchase price or market value. On a ≈S$1.6 million industrial unit that comes to roughly ≈S$70,000. Budget for it as cash at completion, because stamp duty cannot be funded by the mortgage and falls due within fourteen days of the sale document being executed.
Is GST payable on the price and the rent?
Frequently, yes. Non-residential property sold by a GST-registered seller attracts GST at the prevailing rate, and many listings at this address state expressly that GST applies. A GST-registered buyer can normally recover it as input tax but must still fund it at completion, so the cash requirement is materially above the headline price. Where the seller is an individual who is not GST-registered, no GST arises. Rent is treated the same way, with a GST-registered landlord charging GST on the monthly figure. Clarify the seller’s registration status early, since it reshapes the cash plan.
How does the remaining lease affect financing?
This is the decisive underwriting issue. The head lease runs 99 years from 14 January 1976 and expires in 2075, leaving roughly ≈49 years. Singapore banks generally size an industrial loan so that tenure plus the borrower’s age stays within a set limit, and separately require the lease to outlast the loan by a comfortable buffer, often twenty to thirty years. At ≈49 years remaining, a thirty-year tenure is already difficult and twenty to twenty-five years is more realistic, which raises the monthly instalment. Obtain in-principle approval before exercising an option to purchase.
What rental yield is realistic here?
On current evidence, roughly ≈3.5% to ≈4.5% gross. Asking rents for light industrial and office lots have run at about ≈S$4.50 to ≈S$7.50 per square foot monthly, while factory lots transacted between ≈S$977 and ≈S$1,464 psf over the past year. Net yield lands lower once maintenance charges, property tax, agency commission and a vacancy allowance are deducted — realistically nearer ≈2.8% to ≈3.5%. First-storey shops generate higher rent per square foot but were bought at far higher psf, so the yield gap between the products is narrower than the headline rents suggest.
Is an eleven-year-old building a concern?
Not materially. CT Hub 2 received temporary occupation permit in 2015, so major systems are past their commissioning defects but well short of replacement. The realistic agenda over the next decade is lift modernisation, cooling plant works where applicable, waterproofing on the pool deck and periodic façade inspection — items funded through the sinking fund rather than by special levy if the management corporation has been prudent. Ask for the last two years of MCST accounts and the current sinking fund balance during due diligence; that tells you far more than the building’s age does.
What are the en-bloc or redevelopment odds?
Slim, and they should not be priced into an offer. The scheme holds ≈429 strata lots across three distinct product types, and a collective sale needs the statutory consent threshold from owners whose economic interests differ — a first-storey shop owner, an industrial owner and an office owner rarely value the same offer identically. The site is already built to a plot ratio of ≈3.2, so a redeveloper would gain little additional floor area under current planning parameters. Treat the exit as an ordinary strata resale to another occupier or investor.
Are parking and loading adequate for an operating business?
Generally yes for this class of asset. The development provides 540 car park lots stacked across the first to fourth storeys and 14 loading and unloading bays, with ramp access suited to vans and bays that marketing material describes as able to take twenty-foot containers. Season parking has been quoted at around ≈S$120 monthly for a first vehicle and ≈S$190 for subsequent ones. Businesses with heavy daily container throughput should still inspect the turning circle and bay clearance in person, because published information does not confirm headroom at the loading deck.
What do MCST maintenance charges cost and cover?
Expect roughly ≈S$0.35 to ≈S$0.50 per square foot monthly, above a plain B1 estate because the scheme carries a lap pool, reflective pool, gym, spa, barbecue pavilion and air-conditioned common corridors. The charge typically covers security, common-area cleaning and power, lift maintenance, landscaping, insurance and contributions to the sinking fund. Air-conditioning within units is individually installed and metered, so occupiers pay their own cooling cost directly rather than through a central charge. Request the current schedule of contributions rather than an agent’s estimate, since rates differ between shop, industrial and office lots.
How liquid is a resale at CT Hub 2?
Reasonably liquid by industrial strata standards, though slower than residential. The building has produced steady transaction volume since 2015 across factory, office and shop lots, which gives valuers comparable evidence and gives buyers confidence — a real advantage over single-owner industrial buildings with thin trading records. Expect a marketing period measured in months, and expect the shortening lease to narrow the buyer pool over time as bank tenures compress. Smaller well-located lots priced in line with recent evidence move fastest; large or unusually fitted floorplates take longest and usually need a price concession.
