One Bernam – Next to the epicentre of future Greater Southern Waterfront

One Bernam  will be launched in year 2021. Please follow Quick Links in this review to find out more facts and analysis or feel free to register your interest / contact us for latest movement.

One Bernam Overview

A predominantly office node in Anson is set for a transformation in the next decade with the addition of 3 new private residential developments, injecting vibrancy to the Central Business District (CBD) after office hours with city-living. First up is mixed-use project at Bernam Street, One Bernam.

Reasons for considering One Bernam

1. Next to the epicentre of future Greater Southern Waterfront.
2. Within the vibrancy & heartbeat of the CBD
3. 3 MRT stations serving 2 lines are within walking distance from the development.
4. 2 Levels of commercial podium add lifestyle convenience to the residents
5. Probably the lowest entry price CCR project in year 2021

Project Details

Project Details One Bernam
Location Bernam Street
District D02
Developer MCC Land (Singapore) Pte Ltd
Site Area Approx. 3,846 sqm/ 41,400 sq ft
Plot Ratio 7.28
No. of Blocks/Storeys TBD
Total No. of Units est. 325 units
Tenure 99 years
Expected TOP TBD

Location

Tanjong Pagar, what is now the southern end of CBD, Singapore’s most important commercial and financial hub, was originally a sleepy fishing village set against a hilly terrain in the founding days of Singapore. Henceforth, its name meaning “cape of stakes” in Malay. As Tanjong Pagar became rapidly urbanised in the late 19th century with the relocation of Singapore harbour to the deeper waters in Keppel, the hills were subsequently levelled for road and housing constructions, one of which is the creation of Anson at southernmost end of Tanjong Pagar and the whole of CBD.

One Bernam is surrounded by 3 roads that saw the evolution of Tanjong Pagar from colonial days to modern Singapore. Existed since 1892, Tanjong Pagar Road was then a main thoroughfare in the area and continues to fulfil its duty through this day. Named after places in Perak, Malaysia, Enggor Street and Bernam Street opened a few years later as minor roads.

Following the realignment of Bernam Street and expungement of Raub Street in the 1980s, a rectangular 41,400 sq ft of land was created. It was only in May 2019 that this piece of land was put up for tender by the Urban Redevelopment Authority (URA) under the Government Land Sales (GLS) programme. This 99-year leasehold site was eventually won by Chinese developer Hao Yuan Investments for $440.9m. A relatively newcomer in the property market, other projects by Hao Yuan executive condominiums Forestville and Nortwave in Woodlands, and Sea Horizon in Pasir Ris.

In line with URA requirement of Tanjong Pagar to be “an area planned to be a 24/7 vibrant mixed-use urban neighbourhood with live-in communities supported by amenities”, One Bernam will be a mixed development with commercial units on the 1st floor. On top of that, URA also stipulates that the development must be designed with a 3-tier concept: low-rise zone of maximum 4 storeys fronting the 3 roads enclosed, mid-rise zone of maximum 20 storeys to provide a sense of openness to the adjacent buildings and a standalone high-rise zone no more than 35 storeys separated from the mid-rise zone by the pedestrian walkway from the 1-storey commercial section. The residential portion of this project will also feature sky terraces and roof garden to further position Singapore as a “City in a garden”.

Tentatively scheduled for TOP in 2025, this date is subjected to changes in view of COVID-19 pandemic.

CONNECTIVITY

Amenities Approx Dist
MRT
Tanjong Pagar 370m
Prince Edward Road (future) 350m
Bus stop
Opp Fuji Xerox Towers 100m
The Amara 120m
Hub Synergy Point/Anson Road 135m
Mapletree Anson 160m
Shenton Way Bus Terminal 280m

One Bernam is a highly accessible development for motorists. Tanjong Pagar Road, its original purpose of connecting Singapore River with Keppel Harbour back at the end of the 19th century, now extends as the main road for motorists coming from Bugis and Chinatown via South Bridge Road and Telok Blangah, VivoCity and Sentosa via Keppel Road.

Connecting to major expressways is also convenient with a short 3-minute drive on during off-peak hours. Central Expressway (CTE) via Cantonment Road will lead to Ayer Rajah Expressway (AYE) southbound and Orchard, Toa Payoh and Ang Mo Kio northbound. Exiting from Tanjong Pagar Road into Keppel Road will lead to Marina Coastal Expressway (MCE) eastwards towards East Coast Parkway (ECP) and Changi Airport and AYE westwards towards western half of Singapore.

For commuters, One Bernam is within walking distance to 3 MRT stations. The existing Tanjong Pagar East West Line (EWL) only takes 3 minutes of walking time via Amara Hotel and Icon Village. The completion of Circle Line (CCL) Stage 6 in 2025 will see 3 new stations closing the loop between HarbourFront and Marina Bay Interchanges/stations. 1 of which, Prince Edward Road (5-minute walk) will be nearby.

2 bus services ply along both directions of Tanjong Pagar Road, connecting to VivoCity southbound and Chinatown, Clarke Quay and Bugis northbound. For more bus services option, one can walk to Hub Synergy Point for buses connecting to Raffles Place, Marina Bay and Orchard.

WORK

Central Business District

The centre where all financial and business decisions take place, Downtown Core/Marina Bay see many local and multi-national companies (MNCs) setting up hubs in its prime office buildings. Spreading from the nearby Anson/Tanjong Pagar and Robinson/Shenton Way, right through the further Raffles Place and Marina Bay, residents can either walk to their offices or just a short bus trip away.

Major international companies that are located within walking distance from One Bernam include Novartis, AXA Insurance, AIG, Aon, JPMorgan Chase, ING and SAS Institute. Government agencies URA, Ministry of National Development, Monetary Authority of Singapore and Government Investment Company are also within the vicinity.

Amenities Approx Dist
Keppel Towers 1 & 2 80m
Tanjong Pagar Centre 370m
AXA Tower 390m
International Plaza 320m
Mapletree Anson 160m
OUE Downtown 2 540m
Maxwell Chambers 470m
URA Building 650m
MND Building 600m
Capital Tower 520m

SCHOOL

As the main residential profile in Tanjong Pagar are mostly PMETs and foreign expatriates living in private condominiums, except for HDB flats in Tanjong Pagar Centre and The Pinnacle@Duxton, currently there is only one school, Cantonment Primary School, some 7-minute walk away in Cantonment.

However, pre-school My First Skool is nearer at Tanjong Pagar Plaza, a 3-minute walk from One Bernam.

HEALTHCARE

Singapore General Hospital Campus

For healthcare and biomedical professionals, Singapore General Hospital (SGH) and Ministry of Health (MOH) take 5 minutes of driving via Cantonment Road. Currently undergoing a 20-year phased expansion, the refurbished campus will provide over 10,000 job opportunities for medical, education and R&D.

SHOPPING/FOOD/MARKET

Amenities Approx Distance
Hawker Centre
Tanjong Pagar Plaza 185m
Amoy Street Food Centre 650m
Maxwell Food Centre 700m
Shopping/dining
100 AM 50m
Tanjong Pagar Plaza 185m
Icon Village 170m
Tanjong Pagar Centre 370m
International Plaza 320m
M Hotel 135m
Maxwell Chambers 470m
Downtown Gallery 540m

RECREATIONAL

Amenities Approx Dist
Yan Kit Playfield 280m
Rail Corridor 950m
Tanjong Pagar Community Club 310m
Singapore Conference Hall/Singapore Chinese Cultural Centre 570m

Yan Kit Playfield

Once Singapore’s second oldest swimming complex until 2001, the former Yan Kit Swimming Complex has been given a new lease of life last year as a community sports facility venue featuring workout areas suitable for all ages, an event space and a 3-in-1 Multi-Purpose Court for basketball, netball and volleyball.

Rail Corridor

Formerly the railway tracks of Malayan Railway (KTM) until July 2011, the 24km route linking Tanjong Pagar Railway Station and Woodlands will reopen by 2021 as a “green corridor”, a nature and heritage trail linking 1 million people within 1km radius. The Rail Corridor takes 10 minutes to walk, with the starting point being the conserved Tanjong Pagar Railway Station.

LIFESTYLE

Greater Southern Waterfront

Beyond 2030, once all the PSA ports and terminals are relocated to the Tuas Mega Port, a new 1,000ha Greater Southern Waterfront, double the size of Punggol and stretching from Pasir Panjang to Marina East, will transform the area into the southern gateway of Asia.

Tanjong Pagar

Without the need to travel far, Tanjong Pagar offers a wide ranging of lifestyle options.

There are 3 hawker centres in the area, all popular with office workers nearby and crowded during weekday lunch hours. The nearest from this development is Tanjong Pagar Plaza which is also the only place that has a wet market. Besides the usual hawker fares, Tanjong Pagar Food Centre is also one of the few, if not the only, places in Singapore where one can find white Penang char kway teow.

Further away via 10-minute walking are Maxwell Food Centre and Amoy Street Food Centre. Maxwell Food Centre is famous for Hainanese chicken rice and Foochow fried oyster pancakes while Amoy Street Food Centre is a 2-storey hawker amenity offering multicultural local food including Nasi Briyani, fish soup and lor mee.

Beyond hawker fares, nearby hotels Amara Hotel, M Hotel, Carlton City Hotel and Orchid Hotel provide swankier dining options while in-between options can be found at 100 AM, Icon Village and Tanjong Pagar Centre.

Shopping can be done easily at 100 AM, Tanjong Pagar Centre, International Plaza, the smaller Icon Village and even neighbourhood shops in Tanjong Pagar Plaza. There are also 3 supermarkets within distances of one another: NTUC FairPrice Tanjong Pagar Plaza, FairPrice Finest 100 AM and Cold Storage Altez.

Exploring north of Tanjong Pagar sees the conserved shophouses at Tras Street and Duxton Hill, which is home to many heritage gems. The Jinrikisha station, the former depot for rickshaws, the 1st Tiger Balm factory at 89 Neil Road, The Tea Chapter, the oldest and largest tea house till today, just to name a few.

Some shophouses are now famous for its restaurant and watering holes, bridal shops and also Little Korea, a small section of shophouses specialising in Korean eateries and also Koryo Mart, a Korean supermarket with a few other outlets elsewhere in Singapore as well.

One Bernam Site Plan

Coming soon.

One Bernam Floor Plan

One Bernam Price, Unit Types, Sizes

UNIT TYPE No. OF UNITS SIZE PRICE
1 Bedroom
1 Bedroom + Study
2 Bedroom
2 Bedroom + Study
3 Bedroom
3 Bedroom Penthouse
4 & 5 Penthouse
Total

*Disclaimer: All information is subject to change at developer's discretion.

One Bernam Price Comparison

One Bernam attracted four bids at the close of the tender. The top bid of $440.9 million came from Chinese developer Hao Yuan Investments, and translates to a land cost of $1,463 psf per plot ratio (psf ppr). Based on the bid price of $1,463 psf ppr, estimated breakeven price for One Bernam is about $2,100 psf. In comparison with nearby properties, factoring in lease and building material depreciations for the older projects, I would consider $2300-2400psf is a fair entry price for One Bernam.

Some thoughts on One Bernam

  1. If you are looking for views, One Bernam may not be the perfect match for you. Its view will be most likely blocked with the redevelopment of surrounding buildings, like Realty Centre and Fuji Xerox Towers.
  2. Over 20 buildings or almost half of the total private office space in Shenton Way/Tanjong Pagar precinct have been identified to qualify for the URA CBD Incentive Scheme announced in March 2019. This scheme is giving developers a higher gross plot ratio to encourage the conversion of existing office developments to mixed use developments. This scheme could be double-edge sword to investors. Mixed use developments do allow for greater convenience for the tenants, at the same time, it will add more residential supplies to the area, posing greater competition.
  3. Investors hoping to ride on potential upside from Greater Southern Waterfront, need to have longer investment horizon as it may take more than a decade to materialise the plan.

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Related

For more information on how the URA Master Plan 2019 will shape the vicinity surrounding One Bernam, click on the following link:

Central Area https://bit.ly/2D76Lx5
Greater Southern Waterfront http://bit.ly/3cRhoSa
Rail Corridor http://bit.ly/2QeOiCF

Here are some related projects and information if you are interested to find out more:

The End

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