+65 8901 7972
中文 EN
Singapore Commercial Property
Back to Blog
Reviews Published

Da Vinci Building Review

Da Vinci Building Review
Light Industrial & Commercial Property Review — District 14

Da Vinci Building

A workhorse flatted-factory block on Ubi’s automotive-and-SME strip, built for owner-occupiers who need loading access and a low entry ticket.

SGCPI Research Desk Updated August 2026 ≈40 Ubi Crescent, Singapore ≈408581 ≈60-YR LEASEHOLD FROM 1997

Street-level view of Da Vinci Building, Ubi Crescent. Imagery: Google Street View (user-contributed imagery), accessed August 2026.

Project Overview

Building NameDa Vinci Building
Address≈40 Ubi Crescent, Singapore ≈408581
DistrictDistrict 14 (Geylang / Ubi)
Tenure≈60-yr leasehold from 1997
Zoning / UseB1 Light Industrial
Built Form≈8-storey flatted factory block with ground-floor loading bays
Land Area / GFA≈120,000 sq ft GFA
Completion Year≈1999
Nearest MRTUbi / Kaki Bukit (Downtown Line)
Key Road AccessPan-Island Expwy (PIE), Eunos Link, Airport Road
Transacted PSF Range≈S$650–850 psf
Sale Price Range≈S$700,000–2.8 million
Asking Rent Range≈S$2.20–3.20 psf/month
Occupier BaseSMEs, light assembly, auto-trade workshops, logistics, showrooms

Location & Connectivity

Da Vinci Building sits within the Ubi light-industrial estate, an area long associated with automotive dealerships, workshops and small-to-medium manufacturers rather than glossy business parks. The estate’s character is unglamorous but functional: wide service roads, generous loading bays and a tenant mix that has stayed remarkably stable through successive property cycles. For an owner-occupier running a workshop, showroom or light-assembly operation, that stability is arguably worth more than a fashionable address.

Connectivity has improved meaningfully since the Downtown Line extension opened stations at Ubi and Kaki Bukit, both within a short walk or shuttle ride of most Ubi Crescent addresses. For staff and clients arriving by car, the Pan-Island Expressway and Eunos Link put the estate within easy reach of the eastern corridor, Changi Business Park and the CBD, while Airport Road provides a direct link toward Changi Airport and the logistics clusters around it.

Surrounding amenities remain practical rather than lifestyle-driven — coffee shops, hardware suppliers, tyre shops and canteen-style eateries cluster along the estate’s spine, serving the working population rather than weekend shoppers. Buyers looking for a retail-facing or client-facing frontage should note that footfall here is almost entirely trade-driven; this is a production and servicing address, not a destination one.

Location of Da Vinci Building, Ubi light-industrial estate. Map data: Google Maps, accessed August 2026.

Building & Facilities

The block follows the standard flatted-factory format common to estates developed in the late 1990s: a mid-rise structure of roughly eight storeys, cargo lifts sized for pallet loads, and ground-floor units with direct loading-bay access for heavier operations. Upper floors are typically served by a mix of passenger and goods lifts, with corridor widths built for trolley traffic rather than foot traffic alone.

Common facilities are utilitarian: a shared loading/unloading forecourt, basic security and access control, and car park allocation that is often a genuine constraint during peak hours given the concentration of trade vehicles in the estate. Units are usually handed over in bare or semi-fitted condition, meaning most occupiers budget for their own flooring, partitioning, ventilation and power upgrades before move-in.

Buyers should treat due diligence here as materially different from an office purchase — confirm the unit’s approved use against URA’s B1 conditions, check floor loading capacity if any machinery is planned, and verify power supply capacity with the building’s MCST or the seller’s agent before committing, since retrofitting three-phase power after purchase can be a meaningful added cost.

Unit Types & Floor Plan Notes

Da Vinci Building’s unit mix is typical of Ubi’s flatted-factory stock: a spread of smaller upper-floor units suited to storage, light assembly or back-office functions, alongside larger ground-floor units built for workshops and vehicles that need direct forecourt access.

Ground Floor

≈1,800–2,400 sq ft

Direct loading-bay access, higher ceiling clearance, suited to workshops, light assembly or trade showrooms needing vehicle access.

Mid Floor (2nd–4th)

≈1,200–1,600 sq ft

Standard flatted-factory bays served by cargo lift, typically used for light manufacturing, packing or SME operations.

Upper Floor (5th–8th)

≈800–1,200 sq ft

Smaller bays favoured for storage, back-office or design/prototyping use where forecourt access is not essential.

Combined / Merged Units

≈2,400–3,500 sq ft

Adjoining units on the same floor occasionally sold together, appealing to occupiers scaling up from a single bay.

Ceiling Height: ≈4.5m ground floor, ≈3.2m upper floors
Floor Loading: ≈10–15 kN/m² typical (verify per unit)
Lifts: Passenger + cargo lift, cargo rated for pallet loads
Power Supply: Standard single-phase; three-phase available in select units
Car Park: Shared open-air lots, limited allocation per unit

Investment Case

Da Vinci Building sits firmly in the value end of Singapore’s B1 stock. It will never be mistaken for a business-park trophy asset, but that is precisely its appeal to a certain buyer profile: a genuinely low entry price relative to newer flatted-factory or ramp-up developments, and a tenant base that treats the address as a functional base rather than a brand statement.

What Works

  • Lower entry price than newer B1 stock in Kaki Bukit or Tai Seng
  • Direct loading-bay access on ground-floor units suits trade and workshop use
  • Downtown Line access at Ubi and Kaki Bukit has improved staff commutes
  • Stable, long-established occupier base with low churn
  • Owner-occupiers can qualify for standard business-property financing

What to Weigh Carefully

  • Building age means M&E systems and common areas will need periodic upgrading
  • Car park allocation is limited relative to estate-wide vehicle demand
  • Remaining lease term shortens financing tenure as the years pass
  • Resale pool is narrower than for office or newer industrial assets
  • Unit condition varies widely block to block — inspect before committing

Who This Suits

Da Vinci Building is best suited to owner-operators — workshop owners, light manufacturers, trade suppliers and logistics-adjacent businesses — who value functional space and a modest entry price over prestige. It also appeals to smaller investors comfortable with the B1 leasing pool, who understand that yields here are driven by rental affordability rather than capital appreciation. It is a considered a poorer fit for businesses needing a client-facing or lifestyle-oriented address, or for buyers seeking maximum resale liquidity within a short holding period.

Frequently Asked Questions

What is the permitted use for units in Da Vinci Building?
Units are zoned B1 Light Industrial under URA’s Master Plan, which permits clean and light industrial activities, warehousing, and ancillary office use tied to an approved industrial function. It generally excludes heavy or pollutive processes, retail-only operations, and unrelated office-only tenancies unless specific approval is obtained. Buyers planning to run a workshop, light assembly line, storage operation or trade-related showroom should confirm their intended activity falls within B1 parameters before purchase, since JTC and URA periodically review non-compliant usage. Ancillary office space is typically capped at a percentage of total floor area. Prospective buyers should engage a conveyancing lawyer or check directly with URA’s Space Use Guidelines to confirm their specific business model is compliant before signing an Option to Purchase.
Can foreigners buy a unit in Da Vinci Building?
Yes. Singapore’s Residential Property Act restrictions on foreign ownership apply to residential property, not to industrial or B1-zoned commercial assets, so foreign individuals and foreign-registered companies can generally purchase units here without prior government approval. That said, foreign buyers should still budget for the same Buyer’s Stamp Duty as local buyers, since industrial property does not carry Additional Buyer’s Stamp Duty regardless of nationality — ABSD applies to residential property only. Financing terms may differ for foreign buyers, as some local banks apply lower loan-to-value ratios or require a larger equity contribution. It’s worth approaching two or three banks early to compare indicative terms before committing to a purchase timeline.
Does ABSD apply when buying this property?
No. Additional Buyer’s Stamp Duty is levied only on residential property purchases in Singapore, so buyers of B1 industrial units like those in Da Vinci Building do not pay ABSD regardless of citizenship, residency status, or how many other properties they already own. This is one of the more attractive features of industrial property for investors who already hold residential ABSD exposure, since it allows portfolio diversification without triggering additional stamp duty. Buyers still pay standard Buyer’s Stamp Duty on the purchase price or market value, whichever is higher, calculated on the usual tiered percentage scale. Always confirm current BSD rates with IRAS, as rates and tiers are periodically revised in the Budget.
What Seller’s Stamp Duty applies if I resell early?
Industrial properties purchased after the relevant policy date are subject to Seller’s Stamp Duty if sold within the holding period set by IRAS, currently structured on a tiered basis that reduces the closer the sale is to the end of the holding window. This applies regardless of whether the seller is an individual or a company, and is calculated on the higher of the sale price or market value at disposal. Buyers planning a short-term flip strategy should model SSD into their exit numbers, as it can meaningfully erode returns on a quick resale. Always verify the current holding period and rate tiers with IRAS or a property lawyer, since industrial SSD rules have been adjusted more than once in recent years.
Is GST payable on the purchase price?
GST typically applies to the sale of industrial property when the seller is a GST-registered entity, since industrial and commercial property sales are treated as taxable supplies unlike residential property, which is largely exempt. If the seller is an individual not registered for GST, no GST is charged on the transaction. Buyers who are themselves GST-registered and intend to use the unit for taxable business activities may be able to claim input tax credit on the GST paid, subject to normal IRAS conditions. This is a detail worth clarifying with the seller’s agent and your accountant before signing, as it affects the effective purchase cost and any subsequent claim process.
How does the remaining lease affect financing?
With a tenure estimated at 60 years from 1997, Da Vinci Building has roughly three decades of lease remaining, which most Singapore banks can still finance, though loan tenure is typically capped so the loan is repaid before the lease expires or the borrower reaches a set age, whichever comes first. This generally shortens the maximum loan tenure compared to a freehold or newer-leasehold asset, which can raise monthly instalments even at the same interest rate. Loan-to-value ratios for industrial property are also generally lower than for residential purchases, often in the 70–80% range depending on the bank and borrower profile. Buyers should get an indicative approval early, since financing terms directly shape what price point is realistic.
What kind of rental yield can owners expect?
Based on the estimated asking rent range of roughly S$2.20–3.20 psf per month against sale prices in the S$650–850 psf range, gross rental yields for Da Vinci Building units broadly fall in the mid-single-digit percentage range, which is fairly typical for older B1 flatted-factory stock in mature estates. Actual yield depends heavily on floor level, unit condition, and whether the unit has been fitted out to a standard that reduces vacancy periods between tenants. Ground-floor units with loading access tend to command a rental premium and shorter vacancy periods than upper-floor storage-style units. Prospective landlords should stress-test their yield assumptions against a realistic vacancy allowance rather than headline asking rents alone.
How does the building’s age affect maintenance and running costs?
At an estimated age of over two decades, Da Vinci Building’s common infrastructure — lifts, fire systems, external facade and shared M&E services — will require ongoing upkeep, and buyers should expect MCST sinking-fund contributions and periodic special levies for major works such as lift modernisation or roof waterproofing. This is a normal feature of ageing industrial stock rather than a red flag specific to this building, but it does mean maintenance costs are likely to trend upward over a long holding period compared with a newer development. Reviewing the MCST’s latest financial statements and any planned capital works schedule before purchase gives a clearer picture of near-term levy risk than the asking price alone.
What are the odds of an en-bloc sale or redevelopment?
En-bloc potential for older flatted-factory blocks like Da Vinci Building depends on factors including plot ratio headroom under the current Master Plan, the collective sale threshold being met among owners, and whether a developer sees sufficient uplift to justify an offer. Estates like Ubi have seen sporadic en-bloc and redevelopment interest over the years, but B1 industrial collective sales move more slowly and less predictably than residential en-blocs, partly because occupier-owners often resist selling a functioning business premises. Buyers should treat en-bloc upside as a speculative bonus rather than a core part of the investment thesis, and focus primarily on the property’s standalone rental and resale fundamentals instead.
What is parking and loading access like for this building?
Ground-floor units at Da Vinci Building typically have direct access to a shared loading and unloading forecourt, which is a meaningful advantage for workshop or trade operations that regularly receive deliveries or move goods by vehicle. Car park provision, however, is generally allocated on a limited basis relative to the number of units in the building, reflecting the estate-wide constraint common across older Ubi developments where vehicle ownership among tenants is high. Buyers whose operations depend on multiple dedicated parking lots should confirm exact allocation and any additional season parking availability with the MCST before purchase, rather than assuming ample parking will be available on a first-come basis.
What are typical MCST or maintenance fees for a unit here?
Maintenance fees for units in older B1 flatted-factory buildings like Da Vinci Building are generally charged per share value or floor area and cover common facility upkeep, security, cleaning, lift servicing and sinking-fund contributions for future major works. Fees tend to be modest relative to office or retail strata developments, reflecting the utilitarian nature of shared facilities, but they can rise meaningfully following a special levy for large-scale works such as facade repairs or lift replacement. Prospective buyers should request the latest maintenance fee schedule and MCST meeting minutes from the seller’s agent to understand both the current run-rate and any anticipated increases before finalising a purchase decision.
How liquid is the resale market for units in this building?
Resale liquidity for older B1 stock in estates like Ubi is generally thinner than for newer industrial parks or CBD-fringe offices, since the buyer pool is largely limited to owner-occupiers and smaller investors familiar with the estate rather than institutional capital. Transaction volumes tend to be steady but modest, and holding periods for owner-occupiers are often long, which further reduces the frequency of resale listings coming to market. Sellers should expect a marketing period of several months rather than weeks in a typical market, and should price realistically against recent comparable transactions rather than newer-estate benchmarks. Engaging an agent experienced specifically in Ubi’s industrial resale market can meaningfully shorten this timeline.
What types of businesses are best suited to this building?
Given its B1 zoning, flatted-factory layout and location within an automotive-and-SME industrial estate, Da Vinci Building suits light manufacturing, assembly, packing and storage operations, as well as trade-related businesses such as workshops, fabrication shops and logistics-support functions that benefit from loading-bay access. It is also reasonably suited to businesses needing affordable back-office or ancillary office space attached to an industrial operation, provided the office component stays within permitted limits. It is a poor fit for retail-facing businesses reliant on walk-in footfall, food and beverage operations requiring specific zoning, or purely office-based tenants for whom a Grade A or business-park address would better suit client expectations.

This article is for general informational purposes only and does not constitute investment, legal or financial advice. Figures marked with ≈ are estimates based on general market conditions for comparable properties and should be independently verified before making any purchase, financing or investment decision. Readers should conduct their own due diligence and consult qualified professionals, including a property lawyer, licensed real estate agent and financial advisor, before transacting.

© 2026 SG Commercial Property Insights. All rights reserved.

Back to Blog
WhatsApp