A Smaller Launch Pool May Be Generations’ Biggest Advantage
Generations @ Tannery has enough of the same ingredients that powered CT Gold @ Macpherson to make a strong launch the more likely outcome. The development is a freehold B1 redevelopment at 71 Tannery Lane, comprising 54 production units and five canteens. The attached ProMap snapshot (below) shows a 1km micro-market with 25 resale projects, 104 resale listings, and no other new projects or new-project listings nearby. In pure lot-count terms, that makes Generations a smaller strata proposition than CT Gold, which launched with 63 production units and three canteens.
But we would not yet call an exact CT Gold replay the base case. The latest developer’s indicative pricing image shows a wide price staircase: Levels 6 to 8 in the $15xx psf band; Level 5 at $16xx; Level 4 at $17xx; Level 3 at $18xx; Level 2 at $20xx; and Level 1 canteens at $29xx. At the same time, Levels 9 to 12 have already been taken up by an interested party. This is an important distinction because it immediately reduces the amount of inventory available to the public market. Rather than launching all approved strata units at once, Generations will effectively enter the market with a substantially smaller publicly available inventory pool. From a sales perspective, that improves the probability of a strong absorption rate and increases the likelihood of an early ‘sold out’ headline compared with a full-building release.
What the CT Gold playbook actually was
CT Gold sold out after hitting several demand triggers at once. EdgeProp reported that all 63 production units and three canteens were taken up within two days, with bookings structured to give priority first to buyers taking five to 10 units and then to buyers taking two to four units. The project’s production units were tightly banded at about 1,615 to 1,959 sq ft; most units traded around $1,500 to $1,600 psf, and the average absolute ticket reportedly landed around $2.5 million to $2.6 million. Importantly, EdgeProp also said that the majority of buyers were end users, not just short-term punters.
The more important lesson is that CT Gold did not sell out just because it was freehold. In our previous CT Gold analysis, the surrounding 1km market already had 11 projects, 290 past-sale transactions averaging about $797 psf, 57 active resale listings averaging about $999 psf, and zero other new B1 projects or new-project listings. That meant buyers were paying up for a brand-new freehold B1 product in a precinct dominated by older resale stock, not merely paying a tenure premium over leasehold alternatives. The premium also looked much more reasonable when benchmarked against the better nearby freehold resale options rather than against the whole resale universe.
CT Gold also benefited from product-market fit. Demand came mainly from owner-occupiers in light manufacturing, e-commerce, logistics and creative industries, and that its functional specs mattered: ceiling heights up to 7.35m, 10 kN/sqm floor loading, 100A three-phase power, partial ramp-up access, and three canteens. Add Chiu Teng’s recent CT Pemimpin sellout as a fresh credibility marker, and buyers had both a practical use case and a psychological proof point.
What Generations is bringing to market
Generations is a freehold, 12-storey multi-user B1 development with 54 production units and five industrial canteens, expected TOP in Q1 2029, 51 car park lots, 10 future EV lots, five common loading and unloading lots for rigid vehicles, and six KONE lifts. Most importantly, Generations @ Tannery is located closer to Mattar MRT Station than CT Gold @ Macpherson is to Potong Pasir MRT Station. While MRT accessibility is rarely the sole driver of industrial demand, better rail connectivity improves convenience for employees, visitors, and business owners, particularly for B1 users with larger staff counts. In Singapore’s increasingly urban industrial market, that additional accessibility strengthens Generations’ appeal to owner-occupiers.
That matters because Generations is not being sold as a plain-vanilla factory block. The development leans into a more polished, almost office-industrial proposition: enlarged lobby spaces, an articulated façade, six lifts, future-ready design, and five canteens positioned as a “community destination” with visible glass frontage and landscaped outdoor areas. In other words, the product is clearly trying to capture the same “ready-made operating environment” premium that CT Gold used so effectively, while pushing even harder on placemaking and presentation.
The unit mix is more layered than it first appears. Within the available strata stack, Levels 2 to 8 mainly comprise units of about 150 to 250 sq m, or roughly 1,621 to 2,695 sq ft. This keeps most units within a practical quantum range for SMEs, investors and owner-occupiers.
At the same time, the specifications differ meaningfully by floor. Levels 2 to 5 enjoy ramp access; Levels 2 to 4 offer a generous 6.125m floor-to-floor height; Level 5 has 4.375m, while Levels 6 to 8 have 4.2m. Power provision also varies, with many upper-floor units at 63A three-phase, while the lower floors and selected combined units are served by 100A three-phase supply.
This gives Generations @ Tannery a broader buyer base: lower floors appeal more to operational users who value ramp access, height and power, while the upper floors may attract buyers focused on lower entry pricing, efficient layouts and long-term freehold ownership.
How the indicative pricing stacks up
The ProMap market summary provides the clearest pricing benchmark for Generations @ Tannery. Within a 1km radius, there are 25 resale projects and 104 resale listings, with an average asking price of $1,080 psf and no competing new-project listings.
To improve the accuracy of the comparison, the dataset was further refined by excluding two projects and three listings with inconsistent or non-comparable data. This gives a more realistic view of the surrounding industrial market and the resale alternatives that buyers would actually consider.
Even then, the broad 1km average should not be treated as the only benchmark. It includes older and less comparable stock, which can pull the overall average down. Among the stronger freehold and city-fringe references, pricing is already meaningfully higher. Biztech Centre averages $1,339 psf, while HH @ Kallang averages $1,482 psf.
This is why Generations @ Tannery should be compared not only against the wider resale basket but against the upper tier of nearby freehold industrial assets.
Against the overall 1km average of $1,080 psf, the upper-floor $15xx psf pricing for Levels 6 to 8 appears to represent a sizeable 40% to 50% premium. On the surface, that looks steep. However, this is broadly similar to the premium seen at CT Gold, where pricing was also around 50% to 60% above its active resale benchmark. When measured against stronger nearby comparables such as CT Gold and HH @ Kallang, Generations’ upper-floor pricing looks much more defensible.
The pricing becomes more ambitious from Level 4 downward, where the indicative bands move into the $17xx, $18xx and $20xx psf range. At those levels, buyers are being asked to pay a clearer premium over most nearby resale options. That premium is not without basis. The lower floors offer additional operational advantages, including ramp access from Levels 2 to 5, greater floor-to-floor heights, and a 100A three-phase power supply for the lower and selected mid-level units.
This means the launch outcome will not be determined solely by the upper floors. The real test is whether buyers are prepared to pay more for the functional advantages of the lower floors.
The same applies even more sharply to the canteen units. CT Gold had three canteens, while Generations @ Tannery has five. The unit schedule ranges from a compact 39.27 sq m canteen to larger units above 120 sq m, while the indicative pricing image places Level 1 canteens in the $29xx psf band.
The smaller canteen may still carry a relatively manageable entry quantum, but the larger canteens will require buyers to underwrite worker demand, neighbourhood catchment and the success of the project’s community-led positioning. In that sense, the canteens are both a differentiator and a swing factor. They can strengthen the project’s overall appeal, but they may also determine whether the launch becomes a clean sell-out.
What could accelerate or slow the launch?
Several things could make Generations move fast. First, scarcity still works in its favour: there are zero new projects or new-project listings within 1km, and EdgeProp’s industrial coverage had already been flagging “tightening supply of quality freehold industrial assets” and strong interest in city-fringe sites even before CT Gold’s sell-out. Second, the upper-floor ticket sizes look digestible. Using the unit schedule and the latest developer’s indicative pricing bands, a typical Level 6 to 8 unit often lands in roughly the same broad quantum zone that helped CT Gold clear quickly. Third, the product story is differentiated enough to justify some premium: a modern façade, an enlarged lobby, six lifts, five canteens, and a same-site redevelopment narrative, with older stock already being marketed at high asking prices.
There are still several factors that could prevent Generations @ Tannery from becoming a direct repeat of CT Gold.
The first is competitive context. The 1km resale map around Generations shows more available alternatives than the earlier CT Gold benchmark, with 104 resale listings compared to 57 active listings around CT Gold. This gives buyers more substitutes to compare against and more immediate reference points when assessing whether Generations’ launch pricing is justified.
The second is the developer’s track record. CT Gold was developed by Chiu Teng, a construction and development group with a track record of completed industrial projects in Singapore. Providence Group, by contrast, has a broader regional and investment-led background, with much of its development in Vietnam while undertaking investment activity in Singapore. This does not weaken the project outright, but it may mean some buyers will place greater emphasis on product specifications, pricing, and confidence in execution before committing.
Finally, Generations’ own specification split may segment demand. Many upper-floor units are provisioned with 63A three-phase power, which should suit a wide range of light B1 occupiers. However, this may not appeal to operators with heavier operational requirements. Those buyers may prefer to pay more for the ramp-connected lower floors with 100A three-phase supply, rather than choose the more affordable upper stack.
Verdict: A Strong Launch Looks Likely, But A CT Gold-Style Sellout Is Not Guaranteed
If the question is whether Generations @ Tannery has the ingredients to become a very strong launch, our answer is yes. The project combines freehold tenure, city-fringe accessibility, proximity to Mattar MRT Station, zero nearby new-project competition in the supplied resale map, and a smaller effective launch inventory than many competing industrial projects. The fact that Levels 9 to 12 have reportedly already been secured by an interested party further improves the sales equation by reducing the amount of stock the market must absorb. Combined with upper-floor pricing that appears defensible against nearby freehold resale benchmarks, the launch setup arguably looks even tighter than a simple unit-count comparison would suggest.
If the question is whether it will replicate CT Gold’s exact two-day sellout, we would still be cautious. The outcome will depend on how aggressively the remaining inventory is released, whether bulk buyers emerge early, and whether buyers accept the premium commanded by the lower floors and canteen units. However, the combination of reduced publicly available stock, stronger MRT accessibility via Mattar MRT Station, and a lack of competing new freehold B1 launches means the probability of a strong launch today is higher than it was before considering these factors.
Disclaimer: This article is based on available market data, marketing materials, indicative pricing and resale listings at the time of writing. While reasonable care has been taken, the information may change and should not be treated as complete, final or guaranteed.
The views expressed are for general information only and do not constitute financial, investment, legal or real estate advice. Prospective buyers should conduct their own due diligence and seek professional advice before making any purchase decision.
Past performance of comparable projects, including CT Gold @ Macpherson, is not indicative of future results.
Article contributed by Jerry Wong.
Jerry Wong is a realtor at Propnex Realty, bringing a rich background in interior and lighting design to his work. He loves exploring diverse spaces and observing the transformative power of real estate. Beyond his professional role, Jerry finds his greatest fulfillment in connecting people with the right properties, gaining immense satisfaction from helping clients achieve their dreams.
