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Hengda Building Review

Hengda Building Review
Industrial & Commercial Property Review — District 14

Hengda Building

A B1 light-industrial strata block off Kaki Bukit Road serving East Region SME occupiers.

SGCPI Research Desk Updated August 2026 ≈25 Kaki Bukit Road 4, Singapore 417800 ≈60-YR LEASEHOLD FROM 1998

Street-level view of Hengda Building, ≈25 Kaki Bukit Road 4. Imagery: Google Street View (user-contributed imagery), accessed August 2026.

Project Overview

Building NameHengda Building
Address≈25 Kaki Bukit Road 4, S417800
DistrictDistrict 14
Tenure≈60-yr leasehold from 1998
Zoning / UseB1 Light Industrial
Built Form≈6-storey strata block with ground-floor loading bays
Land Area / GFA≈2,800 sqm land / ≈9,800 sqm GFA
Completion Year≈1999
Nearest MRTKaki Bukit (DT33), Ubi (DT32)
Key Road AccessPan-Island Expressway, Eunos Link
Transacted PSF Range≈S$650 – S$780 psf
Sale Price Range≈S$1.1M – S$3.8M per unit
Asking Rent Range≈S$2.20 – S$2.80 psf/month
Occupier BaseLight engineering, logistics, trading, F&B central kitchens

Location & Connectivity

Hengda Building sits within the established Kaki Bukit industrial belt in Singapore’s East Region, an area long favoured by light manufacturers, logistics operators and trade-support businesses for its proximity to Changi Airport and the eastern residential catchment. The immediate surroundings are dominated by low-rise flatted factories and strata-titled B1 developments of a similar vintage, giving the estate a settled, functional character rather than the glossier feel of newer business parks further north.

Connectivity is a core strength of the address. Kaki Bukit MRT station on the Downtown Line sits within a short walk, linking the building directly to the CBD and to Bugis and Chinatown without an interchange, while Ubi MRT is a similarly short distance away on the same line. For occupiers moving goods rather than people, the Pan-Island Expressway is close by, and Eunos Link and Changi Road provide additional routes toward Changi Airport, Tampines and the city centre, which keeps last-mile delivery times manageable for tenants serving both residential and commercial customers.

The surrounding neighbourhood offers a practical rather than lifestyle-driven amenity mix: coffee shops and hawker stalls serving the industrial workforce, hardware and packaging suppliers, and a scattering of banks and postal services within the estate. Eunos and Geylang’s residential and retail belts are a short drive away for staff lunches or supplier meetings, which is typically sufficient for the SME and light-industrial tenant profile this building attracts.

Location of Hengda Building. Map data: Google Maps, accessed August 2026.

Building & Facilities

The block is a modest, functional strata-industrial building of roughly six storeys, arranged around a central lift and stair core with cargo lift access serving each floor. Floor-to-floor heights and floor loading are typical of late-1990s B1 stock in the estate, suiting light assembly, storage and workshop use rather than heavy manufacturing. Ground-floor units benefit from direct loading-bay access, which tends to command a premium over upper-floor units reliant solely on the cargo lift.

Common facilities are basic but adequate: a shared driveway and loading apron, visitor and tenant parking within the estate, and standard fire-safety and utility risers serviced by the building’s MCST. Units are typically handed over in bare-shell or lightly fitted condition, with tenants and owners expected to carry out their own fit-out for office partitions, power upgrades or specialised equipment.

As with any strata-titled industrial asset of this age, prospective buyers should factor in a technical due-diligence review covering the building’s maintenance fund position, any planned major repairs (roofing, lift overhaul, façade works), and confirmation of the unit’s permitted use against JTC/URA zoning conditions before committing to a purchase or long lease.

Unit Types & Floor Plan Notes

Hengda Building offers a fairly standard range of strata industrial unit sizes, giving both small owner-occupiers and larger logistics or trading tenants options within the same block. Ceiling heights and floor loading are consistent across most floors, though ground-floor units carry the added advantage of direct vehicle access.

Compact Unit

≈700 – 900 sq ft

Entry-level strata size popular with small trading firms and workshop operators needing a single warehouse-cum-office space.

Standard Unit

≈1,200 – 1,600 sq ft

The most commonly transacted size in the building, suited to light assembly, storage with a small front office, or combined units.

Ground-Floor Loading Unit

≈1,800 – 2,400 sq ft

Direct loading-bay access makes these units attractive to logistics and F&B central-kitchen tenants moving goods frequently.

Combined / Corner Unit

≈2,800 – 3,600 sq ft

Formed by merging adjoining strata lots, offering larger floor plates for tenants consolidating operations under one roof.

Typical Ceiling Height: ≈4.5m – 6m clear (varies by floor)
Floor Loading: ≈10 – 15 kN/sqm, typical of B1 strata stock
Cargo Lift: Shared, serving all upper floors
Loading Bays: Ground floor only, shared apron
Fit-Out Condition: Bare-shell to lightly fitted on handover

Investment Case

Hengda Building fits the profile of a steady, income-generating light-industrial asset rather than a capital-growth play. Its appeal rests on affordability relative to newer business-park stock, a genuinely useful MRT connection for an industrial address, and a stable base of SME tenants that has historically kept vacancy manageable.

What Works

  • Short walk to Kaki Bukit MRT — unusually good transit access for a B1 building
  • Entry price point remains accessible for owner-occupiers and small investors
  • Established SME tenant base supports relatively stable occupancy
  • Good expressway access via PIE for logistics-dependent tenants
  • Ground-floor units with loading-bay access remain in consistent demand

What to Weigh Carefully

  • Remaining lease is now under 40 years, which will affect financing terms over time
  • Building age means upcoming major repair costs are a realistic prospect
  • Upper-floor units without direct loading access rent at a discount
  • Estate-wide redevelopment potential is limited given the strata-titled, multi-owner structure
  • Resale liquidity depends heavily on general industrial-sector sentiment

Who This Suits

Hengda Building suits owner-occupier SMEs in light engineering, trading, or logistics who value the rare combination of MRT access and industrial affordability, and who are comfortable with a building of this age and remaining lease profile. It also appeals to smaller investors seeking a lower entry ticket into East Region industrial property for rental income, provided they underwrite the lease decay and near-term maintenance costs into their return expectations. It is less suited to buyers requiring long financing tenures matched to a fresh lease, or to occupiers needing heavy-industrial floor loading and power capacity beyond standard B1 specifications.

Frequently Asked Questions

What is Hengda Building zoned for, and what businesses can operate here?
Hengda Building is zoned B1 Light Industrial under URA’s Master Plan, which permits clean and light manufacturing, warehousing, workshops, and ancillary office space directly supporting those activities. It is not suited to heavy or pollutive industries, which require B2 zoning with higher environmental thresholds. Ancillary office use is typically capped at a percentage of the unit’s floor area, so a purely office-based tenant may not qualify to lease or purchase here without a genuine industrial operation on site. Buyers and tenants should always verify permitted use with URA or JTC before committing, since enforcement action can follow if a unit is used purely as office space or for retail purposes that fall outside the approved B1 use classification for this address.
Can foreigners buy a unit in Hengda Building?
Yes. Unlike residential property, Singapore’s Residential Property Act restrictions on foreign ownership do not apply to industrial property, so foreign individuals and foreign-owned companies can generally purchase strata units in Hengda Building without prior government approval. That said, foreign buyers should still budget for the applicable stamp duties, arrange financing carefully since local banks may apply different loan-to-value limits for non-resident purchasers, and consider whether a Singapore-incorporated entity is a more practical holding structure for tax and operational purposes. Engaging a local conveyancing lawyer early is advisable, as industrial purchases carry technical due-diligence steps around permitted use, MCST arrears, and lease terms that differ from residential transactions.
Does ABSD apply when buying an industrial unit here?
No. Additional Buyer’s Stamp Duty applies only to residential property purchases in Singapore, so buyers of industrial units at Hengda Building, whether Singapore citizens, permanent residents, or foreigners, are not subject to ABSD. This is one of the reasons industrial and commercial property has remained attractive to investors seeking exposure to Singapore real estate without the cooling-measure stamp duties that apply to residential purchases. Buyers will still pay the standard Buyer’s Stamp Duty on the purchase price or market value, whichever is higher, calculated on a tiered basis. It remains sensible to confirm current rates with a conveyancing lawyer or IRAS directly, since stamp duty schedules are periodically revised.
How does Seller’s Stamp Duty work if I resell my unit early?
Industrial property in Singapore is subject to Seller’s Stamp Duty if sold within the holding period defined by IRAS, which has historically been three years for industrial property, with rates tapering the longer the property is held before disposal. This is separate from any SSD that may have applied to residential purchases and reflects a policy aimed at discouraging short-term flipping of industrial stock. Anyone considering a short-term hold in Hengda Building, whether for a quick resale or a change in business plans, should factor SSD into their exit calculations from the outset. Current rates and holding-period thresholds should always be confirmed directly with IRAS or a property tax adviser before transacting.
Is Buyer’s Stamp Duty different for industrial versus residential property?
Buyer’s Stamp Duty for industrial property, including units at Hengda Building, is calculated on the same tiered percentage basis applied to non-residential property generally, which currently runs lower at the upper tiers than the schedule used for residential purchases. This makes the upfront transaction cost of acquiring an industrial unit comparatively more predictable, since it is not layered with ABSD as residential purchases can be. Buyers should still budget for legal fees, valuation costs, and any financing-related charges alongside BSD. As with all stamp duty matters, the applicable rates should be verified against the latest IRAS schedule at the time of the transaction, since these figures are subject to periodic revision.
Is GST payable on the purchase of a unit in this building?
GST treatment depends on the seller’s GST-registration status and how the sale is structured. If the seller is a GST-registered entity selling in the course of business, GST is typically chargeable on the property price, whereas a sale by a non-GST-registered individual owner generally does not attract GST. Business buyers who are themselves GST-registered may be able to claim input tax on a GST-charged purchase, subject to normal input-tax rules. Because this treatment varies by transaction and seller status, buyers evaluating a unit at Hengda Building should confirm the GST position directly with the seller’s agent or a tax adviser before finalising an offer, rather than assuming either outcome.
How does the remaining lease affect financing options?
With the lease dating from around 1998, Hengda Building now has roughly 30 to 35 years remaining, a range where banks typically begin tightening loan tenure and loan-to-value ratios, since financing terms are usually capped so the lease does not expire significantly before the loan is repaid. Buyers should expect shorter maximum loan tenures than they would get on a freshly leased asset, and should discuss indicative terms with several banks before making an offer, since practices vary. Cash-rich owner-occupiers and investors comfortable with a shorter financing runway are generally better positioned here than buyers relying on maximum leverage over a long tenure.
What kind of rental yield can an investor expect?
Based on the indicative sale price and asking rent ranges for the estate, gross rental yields for units at Hengda Building tend to fall in the mid-single-digit range, broadly in line with comparable B1 strata industrial stock in the East Region. Ground-floor units with loading access typically command both higher rents and steadier demand, supporting a slightly stronger yield profile than upper-floor units without direct vehicle access. Actual achieved yield will depend on the specific unit, tenant covenant, and prevailing industrial rental market conditions at the point of leasing, so prospective investors should request recent comparable transactions from an agent rather than relying solely on asking-price benchmarks.
How old is the building, and does age affect maintenance costs?
Hengda Building is estimated to have been completed around 1999, making it roughly a quarter-century old. Buildings of this age in the estate generally require periodic major repairs, such as roof waterproofing, lift modernisation, and façade or common-area upgrading, which are funded through the MCST’s sinking fund and can result in special levies if reserves are insufficient. Prospective buyers should request the MCST’s latest financial statements and any planned works schedule before purchasing, so they can assess whether maintenance fees and sinking-fund contributions are adequately funded or likely to rise. This due-diligence step is particularly important for older strata-titled industrial buildings such as this one.
Is there any redevelopment or en-bloc potential for this building?
En-bloc potential for a strata-titled industrial building like Hengda Building is realistically limited in the near term. Collective sales require agreement from a high proportion of strata owners by both share value and unit count, which is harder to achieve in an industrial building with many small, operationally active owner-occupiers than in a residential development. There is no public indication of an organised collective-sale effort at this address, and with roughly three decades of lease remaining, the economics of a fresh JTC land tender versus a private en-bloc are not immediately compelling. Buyers should treat any redevelopment upside as a long-term, low-probability scenario rather than a near-term investment driver.
What are the parking and loading arrangements like?
The building offers shared tenant and visitor parking within the estate, along with a ground-floor loading apron serving units with direct vehicle access. Parking supply in older industrial estates such as this one can be tighter than in newer business parks, particularly during peak operating hours, so tenants with frequent delivery schedules should confirm loading-bay availability and any time-slot arrangements with the MCST before committing to a lease. Larger vehicles such as lorries may face turning-radius constraints typical of estates built in the late 1990s, so occupiers with heavier logistics requirements should conduct a physical site visit to confirm their vehicles can access the building comfortably.
What should I expect for MCST maintenance fees?
Monthly maintenance and sinking-fund contributions for a unit at Hengda Building will vary with share value and unit size, but buyers should expect fees broadly consistent with other strata-titled B1 buildings of similar age and scale in the East Region. Because the building is now over two decades old, it is worth asking the managing agent whether recent or upcoming major works have required special levies on top of regular fees. Requesting the last two to three years of MCST accounts before purchase gives a clearer picture of whether fees have been trending upward and whether reserves are being adequately built up for future repairs.
How liquid is the resale market for units in this building?
Resale liquidity for Hengda Building tracks the broader B1 strata industrial market in the East Region, which tends to trade steadily but not rapidly, with transaction volumes sensitive to interest rates, financing conditions, and overall manufacturing and logistics sector sentiment. Smaller, more affordable units and ground-floor loading units generally attract a wider pool of owner-occupier buyers and therefore transact somewhat more readily than larger combined units, which appeal to a narrower set of purchasers. Sellers should be prepared for a marketing period of several months in typical conditions, and should price with reference to recent comparable transactions in the immediate estate rather than city-wide industrial averages.
What types of businesses would be a good fit for this building?
Given its B1 zoning, unit sizes, and loading configuration, Hengda Building suits light engineering and precision workshops, general trading and distribution firms, e-commerce fulfilment operations, and F&B central kitchens or catering operations that benefit from ground-floor vehicle access. Its MRT proximity also makes it workable for businesses that need staff to commute easily without relying on company transport. It is less suitable for heavy manufacturing requiring higher floor loading or B2 zoning, for retail-facing businesses needing walk-in footfall, or for pure office occupiers without a genuine industrial or warehousing component to their operations, since ancillary office space is capped under the B1 use conditions.

This article is provided for general informational purposes only and does not constitute financial, legal, or investment advice. Figures marked with “≈” are estimates based on publicly available market benchmarks for comparable properties and should be independently verified before any transaction decision. Prospective buyers and tenants should conduct their own due diligence and consult qualified professionals, including a licensed property agent, conveyancing lawyer, and tax adviser, before proceeding with any purchase, sale, or lease.

© 2026 SG Commercial Property Insights. All rights reserved.

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