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LTC Building Review

LTC Building Review
Industrial & Commercial Property Review — District 14

LTC Building

A four-block B1 light-industrial complex off Arumugam Road, minutes from MacPherson MRT.

SGCPI Research Desk Updated August 2026 10 Arumugam Road, Singapore 409957 ≈60-YR LEASEHOLD FROM ≈1994

Street-level view of LTC Building, Arumugam Road. Imagery: Google Street View (user-contributed imagery), accessed August 2026.

Project Overview

Building NameLTC Building
Address10 Arumugam Road, Singapore 409957 (Blocks A–D span 10–14 Arumugam Road)
DistrictD14 — Eunos / Geylang / Paya Lebar (Ubi / MacPherson locality)
Tenure≈60-year leasehold from ≈1994
Zoning / UseB1 Light Industrial
Built Form≈4-block flatted factory complex (Blocks A–D), ≈6 storeys each
Land Area / GFA≈250,000 sq ft GFA across the four blocks
Completion Year≈1996
Nearest MRTMacPherson MRT (≈5 min walk), Eunos MRT
Key Road AccessPan-Island Expressway (PIE), Kallang-Paya Lebar Expressway (KPE)
Transacted PSF Range≈S$550 – S$750 psf
Sale Price Range≈S$650,000 – S$2.8 million
Asking Rent RangeS$2,400 – S$12,500 per month
Occupier BaseSMEs in light manufacturing, trade, logistics and showroom/office-warehouse use; LTC Corporation’s own office sits within Block A

Location & Connectivity

LTC Building sits within the Arumugam Road industrial pocket that fringes the Kampong Ubi and MacPherson subzones, a stretch of Singapore’s Central Region long zoned for light industrial and warehousing use. The estate is a short drive from Paya Lebar, Eunos and Geylang, giving occupiers easy access to a labour pool across the eastern and central corridors without paying central-business-district rents. The immediate surroundings are a mix of similarly aged flatted factories, several of which — including neighbouring Starhub Green — house SME offices, logistics operators and light manufacturing tenants.

Connectivity is a genuine selling point for a building of this age and format. MacPherson MRT, an interchange station on the Circle and Downtown lines, is within an easy walk, giving staff and visitors direct rail access into the city centre and onward transfers without a bus leg. Eunos MRT on the East-West Line is also within reach for those coming from the eastern suburbs. By road, the Pan-Island Expressway and Kallang-Paya Lebar Expressway are both close by, which matters more than rail access for many of the trade and logistics occupiers who move goods rather than people through this estate.

Within a ten-minute drive, occupiers have access to Paya Lebar Quarter’s retail and F&B options, Kaki Bukit’s industrial supply chain, and the broader MacPherson food and hardware cluster, which is useful for staff lunches and ad hoc procurement. The estate is not a lifestyle destination, and buyers should not expect ground-floor retail vibrancy — its value proposition is functional: workable industrial space close to good transport, not a mixed-use experience.

Location of LTC Building, Arumugam Road. Map data: Google Maps, accessed August 2026.

Building & Facilities

The development is organised as a cluster of blocks — commonly referenced in marketing and directory listings as LTC Building A, B, C and D — laid out around shared driveways and loading bays rather than as a single monolithic tower. Each block is a mid-rise flatted factory of roughly six storeys, served by passenger and cargo lifts, with floor-to-floor heights and floor loading typical of 1990s-vintage B1 stock: adequate for light assembly, storage and office-warehouse use, but not intended for heavy manufacturing.

Common facilities are utilitarian rather than lifestyle-oriented: shared loading/unloading bays at ground level, surface and multi-storey car parking allocated across the blocks, and a management office that coordinates access and maintenance for the complex. Units are typically handed over in bare-shell or light-fitted condition, so incoming tenants and owner-occupiers should budget for fit-out — flooring, partitioning, air-conditioning and signage — as part of their occupation cost.

As with any strata-titled industrial asset of this age, prospective buyers should commission an independent building condition survey and check the management corporation’s latest accounts and sinking fund position before committing. Confirm current fire safety certification, the permitted use schedule for the specific unit, and any outstanding additions-and-alterations approvals with the Singapore Civil Defence Force and the Building and Construction Authority, since these can affect what a unit may legally be used for.

Unit Types & Floor Plan Notes

Units across the four blocks range from compact single-level factory/office spaces to larger multi-bay floors suited to logistics or showroom operations. The figures below are indicative of the spread typically seen in listings for this complex; individual unit configurations vary by block and floor.

Compact Unit

≈600 – 900 sq ft

Entry-level factory/office units suited to small trading firms, workshops or back-office support functions with light storage needs.

Standard Factory Unit

≈1,000 – 1,800 sq ft

The most commonly transacted format — a single open floor plate that can be partitioned into office-in-front, warehouse-behind layouts.

Corner / Dual-Frontage Unit

≈1,800 – 2,800 sq ft

Larger corner units with two loading points, popular with logistics and distribution occupiers needing more turning space.

Whole-Floor / Combined Lots

≈3,000 – 6,000 sq ft

Combined adjoining units for occupiers consolidating operations, typically requiring MCST approval for internal reconfiguration.

Ceiling height: ≈4.5m – 6m clear height on ground-floor units, lower on upper floors
Floor loading: ≈7.5 – 10 kN/m² (light industrial standard; verify per unit)
Lifts: Passenger and cargo lifts serving each block
Handover condition: Bare shell / light fit-out, water and 3-phase power points provided
Loading bays: Shared ground-level loading/unloading bays per block

Investment Case

LTC Building appeals to a fairly specific buyer profile: owner-occupiers running SME operations who value transport access over building age, and yield-focused investors comfortable with the liquidity and lease-decay characteristics of older strata-titled B1 industrial stock. It is not a redevelopment or capital-appreciation play in the way a freehold commercial site might be.

What Works

  • Walking distance to MacPherson MRT, an interchange station — rare for a B1 asset of this vintage
  • Quick access to both the PIE and KPE for logistics and delivery-heavy occupiers
  • Entry prices remain well below central-region commercial or B2 industrial benchmarks
  • Established, multi-decade tenant base gives some stability to rental demand
  • Range of unit sizes across four blocks suits both small owner-occupiers and larger consolidators

What to Weigh Carefully

  • Leasehold tenure with roughly three decades run down already; financing tenure will shorten over time
  • Building age means higher near-term capex risk for lifts, roofing and common M&E systems
  • B1 zoning strictly limits permitted uses — verify eligibility before purchase
  • Resale liquidity for strata-titled B1 units is thinner than for B2 or commercial-zoned assets
  • En-bloc redevelopment is not imminent, so buyers should not price in a collective-sale premium

Who This Suits

LTC Building is best suited to SME owner-occupiers in light manufacturing, trading, logistics or workshop-based businesses who need functional, well-connected space without central-region rents, and who are comfortable operating under B1 use restrictions. It also suits smaller industrial landlords seeking rental yield from a stable, established tenant catchment rather than capital growth. It is less suited to investors chasing near-term redevelopment upside, to businesses requiring B2 heavy-industrial permissions, or to occupiers wanting a longer, uninterrupted leasehold runway for long-term financing.

Frequently Asked Questions

What is LTC Building zoned for, and what can I actually operate there?
LTC Building is zoned B1 Light Industrial under the URA Master Plan. This permits clean, non-polluting light manufacturing, workshops, warehousing, logistics operations, and ancillary office space that supports those activities. It does not permit standalone retail, F&B, residential use, or heavy/noxious industrial processes, which fall under B2 zoning. Ancillary office space is typically capped at a percentage of the unit’s floor area — commonly around 40% — with the remainder required to support the core industrial or warehousing activity. Before signing a lease or purchase agreement, buyers and tenants should confirm the specific permitted-use schedule with URA or the appointed managing agent, since enforcement of B1 restrictions has tightened in recent years.
Can foreigners buy a unit at LTC Building?
Yes. Singapore’s Residential Property Act restrictions on foreign ownership apply to residential property, not to industrial or B1-zoned commercial assets like LTC Building. Foreign individuals and foreign-owned companies can generally purchase strata industrial units here without the approvals required for landed residential property. That said, foreign buyers should still budget for the Additional Buyer’s Stamp Duty that applies to residential purchases is not relevant here, but should factor in financing constraints, since some Singapore banks apply more conservative loan-to-value ratios and shorter tenures to foreign-registered corporate borrowers purchasing industrial assets. Engaging a local conveyancing lawyer to confirm eligibility and financing terms before committing is strongly advisable.
Does Additional Buyer’s Stamp Duty (ABSD) apply to a purchase here?
No. ABSD applies specifically to residential property purchases in Singapore and does not extend to industrial or B1 commercial units such as those at LTC Building. Buyers — whether individuals, Singapore companies, or foreign entities — pay only the standard Buyer’s Stamp Duty (BSD) on industrial property, calculated on a tiered percentage of the purchase price or market value, whichever is higher. This is one reason industrial and commercial assets remain attractive to investors who already own multiple residential properties and would otherwise face steep ABSD rates on further residential purchases. Always confirm current BSD rates with IRAS or a conveyancing lawyer, as duty schedules are periodically revised.
What about Seller’s Stamp Duty (SSD) if I want to resell quickly?
Seller’s Stamp Duty in Singapore currently applies mainly to residential property sold within a specified holding period, and industrial property has historically been outside its scope, unlike the position that applied to industrial property between 2013 and 2017 under a since-lapsed rule. As it stands, owners of a unit at LTC Building are generally not liable for SSD on resale regardless of holding period, though buyers should verify the prevailing position with IRAS or a property lawyer before transacting, since stamp duty rules are subject to change through Budget announcements. This absence of an SSD holding-period penalty gives industrial owners more flexibility to exit a position than residential owners typically have.
Is GST payable on a purchase at LTC Building?
GST treatment depends on the seller’s registration status and the property’s use. If the seller is a GST-registered entity selling the property in the course of business, GST at the prevailing rate is typically chargeable on the sale price, in addition to Buyer’s Stamp Duty. If the seller is an individual not registered for GST, or the transaction qualifies as a transfer of a going concern, GST may not apply. Buyers intending to lease the unit out commercially should also consider whether they need to register for GST themselves once rental income crosses the statutory threshold. A tax adviser should confirm the specific position for any given transaction.
How does the remaining lease affect financing options?
With an estimated ≈60-year lease from the mid-1990s, LTC Building has roughly three decades of tenure remaining, which is comfortably above the threshold where Singapore banks begin sharply restricting loan tenure and quantum. Most lenders can still offer reasonable loan-to-value ratios and tenures of 15–20 years for a unit here, subject to the borrower’s profile and the specific lease balance on the unit in question. As the lease continues to run down, however, future buyers may face shorter loan tenures and lower valuations, which is a factor worth weighing for anyone planning a long holding period or eventual resale to a leveraged buyer.
What kind of rental yield can I expect?
Asking rents across the complex span roughly S$2,400 to S$12,500 per month depending on unit size and configuration, translating to gross yields that industrial investors in this segment typically underwrite in the mid-single-digit range against current transacted prices. Actual achievable yield depends heavily on unit size, floor level, fit-out condition, and how quickly a unit can be re-tenanted between leases. Smaller units generally command a higher rent per square foot than larger combined lots, but also see more tenant turnover. Prospective buyers should stress-test yield assumptions against a realistic vacancy allowance rather than headline asking rents alone.
The building is around three decades old — how much does that matter?
Building age at LTC Building is a genuine consideration rather than a dealbreaker. At roughly 30 years old, the complex is past the point where major common-area capital works — lift overhauls, roofing, and mechanical and electrical upgrades — become more frequent, which can translate into periodic special levies on top of regular MCST maintenance fees. On the positive side, older B1 stock in established estates tends to be well understood by lenders and valuers, and entry prices reflect the age discount already. Buyers should review the MCST’s maintenance fund balance and any planned capital works schedule before purchasing.
Is LTC Building likely to go en bloc or be redeveloped?
There is no public indication that LTC Building is being marketed for collective sale, and strata industrial en-bloc transactions generally require a higher approval threshold and more complex consensus-building among owners across all four blocks than residential collective sales. Given the site’s B1 zoning and the absence of any announced Master Plan rezoning for the immediate Arumugam Road pocket, near-term redevelopment odds appear low. Buyers should treat any purchase here as a functional industrial-use or income asset rather than an en-bloc speculation play, and should not price in a collective-sale premium when assessing value.
What is parking and loading access like?
The complex provides surface and multi-storey parking allocated across its blocks, along with shared ground-level loading and unloading bays serving each block’s tenants. Availability and convenience vary by block and time of day, since loading bays are a shared common-property resource rather than dedicated to individual units. Businesses with frequent delivery or collection needs — particularly logistics and trading occupiers — should visit at peak operating hours to assess real-world queuing and turnaround before committing to a specific unit, and should confirm with the managing agent whether any loading bay allocation or booking system is in place.
What are MCST maintenance fees like, and what do they cover?
As a strata-titled development, LTC Building is managed by a Management Corporation Strata Title that collects monthly maintenance fees from subsidiary proprietors to fund common-area upkeep, security, cleaning, lift servicing, and contributions to a sinking fund for major capital works. Fees vary by unit share value, which is typically tied to floor area, and tend to run in line with other 1990s-vintage flatted factory developments in the vicinity. Prospective buyers should request the latest MCST accounts, AGM minutes, and sinking fund balance from the seller or managing agent to understand both current fees and any anticipated increases or special levies.
How liquid is the resale market for a unit here?
Resale liquidity for strata B1 industrial units at LTC Building is moderate rather than deep. The buyer pool is narrower than for residential or commercial-zoned property, since purchasers must generally intend a use permitted under B1 zoning, which rules out retail, F&B, or residential conversion buyers. Smaller, well-located units with practical loading access tend to transact faster than larger combined lots, which appeal to a smaller set of consolidating occupiers. Sellers should expect a marketing period measured in months rather than weeks in typical market conditions, and should price with reference to recent comparable transactions in the immediate estate.
What types of businesses are best suited to a unit at LTC Building?
Given the B1 zoning and the building’s layout, the best-suited occupiers are light manufacturers, assemblers, trading and distribution companies, workshop operators, and businesses needing office-cum-warehouse space with reasonable loading access. Companies in electronics assembly, precision engineering support, import-export trading, e-commerce fulfilment, and building-materials or equipment trading are commonly found in similar estates nearby. Businesses requiring heavy machinery, noxious processes, or high fire-load storage should check permitted use carefully, as these may require B2 zoning instead. Retailers, F&B operators, and residential users are not permitted under the current zoning and should look elsewhere.

This article is for general informational purposes only and does not constitute investment, legal, tax or financial advice. Figures marked with “≈” are reasoned estimates based on publicly available information and typical benchmarks for comparable developments, and should be independently verified before any transaction decision. Readers should conduct their own due diligence and consult qualified professionals — including a property lawyer, tax adviser and licensed valuer — before buying, selling or leasing any property referenced here.

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