The Landmark – City Living with Park & River
The Landmark is targeted to launch in H2 2020. 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.
The Landmark Overview
Last year, the property market saw the launch of the highly anticipated and blockbuster redevelopment of Pearl Bank Apartments, One Pearl Bank. This year, nearby Landmark Towers will go into redevelopment as well and its reincarnate, The Landmark, ready in 2024.
Reasons for considering The Landmark
1. Centrally located in the heart of the city, yet next to Park and near to River
2. 7 min walk to MRT Interhcanges Chinatown & Outram Park
3. Within 1km to Prestigious River Valley Primary School
4. Enjoy 360° Panoramic view
5. Single Tower with Iconic facade design & 5 decks of condo facilities
|Project Details||The Landmark|
|Location||Chin Swee Road, Singapore|
|Developer||ZACD Group Ltd, MCC Land and SSLE Development|
|Site Area||Approx. 72,192 sq ft / 6,706 sqm|
|No. of Blocks/Storeys||39 storeys|
|Total No. of Units||396|
|Tenure||99 Years Leasehold|
|Expected TOP||Est. 2024|
Named after prominent 1870s Hokkien businessman Lim Chin Swee, Chin Swee Road’s existence dated as far back as towards the end of the 19th century. Today’s Chin Swee Road is an important arterial road connecting Clemenceau Avenue in the north and Outram Park/Tiong Bahru in the south, with the Central Expressway (CTE) Chin Swee Tunnel running parallel below.
Designed by the late pioneer Singapore architect Timothy Seow, Landmark Tower stood out not only for its identity as the only condo at Chin Swee Road, but also because of its towering presence. Put up for collective sale in April 2018, this 99-year leasehold, 60,821 sq ft development was successfully sold for $286m to a joint-venture (JV) company comprising ZACD Group, MCC Land and SSLE Development, and will reborn as The Landmark.
Established in 2005 is ZACD Group, a Hong Kong-listed Singapore integrated asset manager company. Unlike previous investments such as RiverParc Residences executive condo (EC), Parc Centros and JadeScape where it only plays a minority role, ZACD is now the lead developer for The Landmark at 70% together with SSLE Development, a Malaysian investment vehicle of Sin Soon Lee, and its property development arm, Elitist Development. Singapore-based China property developer MCC Land, with projects including The Poiz and Queens Peak, forms the remaining 30% stake.
Due for completion in 2024, The Landmark will be a 39-storey single tower development with 396 units, designed by Singapore’s oldest architectural firm, Swan & Maclaren. As a leading architect back since the colonial era, Swan & Maclaren is the brainchild behind national monuments including Goodwood Park Hotel, Raffles Hotel, Sultan Mosque, Victoria Concert & Memorial Hall, post-war architectures including Novena Church, War Memorial Park and the more recent Hong Leong Building and The Centrepoint. Centring on the theme ‘urban city living next to a green park’, each unit will offer unobstructed views from the immediate of Pearl’s Hill City Park and Chin Swee area at the lower levels to much of Singapore skyline at the upper floors.
|Outram Park Interchange||510m|
|Bus stop||Opp Block 13||95m|
|Opp State Court (Upper Cross Street)||320m|
|Pre-school||My First Skool||236m|
|School||River Valley Primary||860m|
|Healthcare||Singapore Thong Chai Medical Institution||180m|
|Recreation||Pearl’s Hill City Park||Doorstep|
|Hong Lim Park||720m|
|Fort Canning Park||950m|
|Market/hawker||People’s Park Food Centre||350m|
|Hong Lim Complex||690m|
|Tiong Bahru Market||740m|
|Maxwell Food Centre||840m|
|Shopping/dining||People’s Park Complex/OG People’s Park||390m|
|Yue Hwa Building||450m|
|People’s Park Centre||475m|
|Mohamed Sultan Road||540m|
|Robertson Quay/Robertson Walk||650m|
|Clarke Quay The Central||820m|
|Former Liang Court (future)||820m|
|Cross Street Exchange||830m|
|Ann Siang Hill||840m|
|Far East Square||965m|
|Nearby Bus Stop
|Katong Pk Twrs
|Opp Santa Fe Mansions
With CTE running parallel below Chin Swee Road and merging at grade at Outram Road junction, motorists heading to Bukit Merah, Queenstown and the rest of western Singapore can continue along CTE as it will merge with Ayer Rajah Expressway (AYE) at Lower Delta. Making a U-turn at Outram Road junction will lead motorists into the CTE tunnel which will connect to Seletar Expressway (SLE) at Yio Chu Kang via Orchard, Toa Payoh and Ang Mo Kio.
Further away, Marina Coastal Expressway (MCE) requires travelling from Outram Road via Cantonment and Keppel Roads, which may take up to 10 minutes during peak hour traffic.
The nearest of all 6 stations around The Landmark is Chinatown Interchange. At this station, commuters are mere stops away Downtown Core/Marina Bay, the heart of the Central Business District (CBD) via Downtown Line (DTL) and one-stop from Outram Park Interchange via North East Line (NEL). Currently an interchange with East West Line (EWL), Outram Park will be expanded to serve Thomson-East Coast Line (TEL) by 2021, giving commuters alternatives to Downtown Core, Orchard and Woodlands, and at the same time opening new destinations including Great World, Gardens by the Bay and Marine Parade.
CES Centre/Manhattan House
Right next to The Landmark are 2 office buildings built in the 1970s: CES Centre and Manhattan House. While both buildings are not as modern looking as their bigger counterparts, Robinsons main office is located right in CES Centre.
Downtown Core/Marina Bay
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 across Raffles Place, Marina Bay and Shenton Way, driving can take from 5 minutes off-peak to 15 minutes during peak hours.
Singapore General Hospital Campus
For healthcare and biomedical professionals, world’s third best hospital Singapore General Hospital (SGH) and Ministry of Health (MOH) take only 2 minutes of driving, 10 minutes of walking or 1 bus stop via service 174 to reach. Currently undergoing a 20-year phased expansion, the refurbished campus will have over 10,000 job opportunities for medical, education and R&D.
Singapore Thong Chai Medical Institution
For over 150 years, Singapore Thong Chai Medical Institution is a household name in Singapore for providing free traditional Chinese medicine (TCM) clinic for the poor since establishment. At the current site since 1976, residents looking for TCM consultations is only a 2-minute walk across Chin Swee Road.
For parents looking for primary school, River Valley Primary School at River Valley Green is the nearest, taking 4 minutes of driving via Havelock Road and Saiboo Street.
Chin Swee Road
Surrounding The Landmark are the HDB flats of Chin Swee Road neighbourhood. Noticeably quiet 24/7, there are actually hidden gems in the HDB shophouses there. For instance, the only shoemaker shop at Block 9 Jalan Kukoh has heavyweight clients including both Prime Minister Lees and the late President S R Nathan.
Nearer to Upper Cross Street/Havelock Road and Chin Swee Road/Clemenceau Avenue junction is Redstar Restaurant at Block 54 Chin Swee Road, Singapore’s most classic, if not the only, Cantonese restaurant where dim sum ladies serve diners in pushcarts. Opened by the four heavenly kings of Cantonese cuisine, the restaurant also serves Cantonese dishes outside for dinner. There is also Sheng Siong supermarket at Block 52, for residents who prefer to play home cooks.
People’s Park Food Centre/People’s Park Complex
What was then known as Singapore’s largest market and later the oldest pasar malam dating as far as the pre-war era, People’s Park Food Centre is now a synonymous place for long yong tau hoo queues, textile buying and toiletries shopping when then biggest “shopping cum residential” HDB complex opened in 1969. Besides that, possibly Singapore’s last surviving knife and scissors sharpening shop is also located at level 2 of this building.
Replacing the original People’s Park Food Centre after the market was gutted by fire in 1966 is People’s Park Complex. Opened in 1973, it was then Singapore’s largest shopping mall and first of its kind in Southeast Asia, with the 31-storey Brutalist architecture consisting of both residential and shopping all-in-one. While the building looks dated in today’s context, its rooftop open-air carpark now provides an Instagram-worthy experience for photo enthusiasts with is single block apartment provide what could easily be mistaken as an apartment from Hong Kong. The carpark also provides unblocked camera vantage of Chinatown shophouses with sweeping views of CBD office buildings in the background.
Chinatown Point/Hong Lim Complex
One of the three food centres within Chinatown is Hong Lim Complex. Like Hong Lim Park, Hong Lim Complex is also named after wealthy businessman Cheang Hong Lim but this site was more famously known as one of the screening centres for Chinese massacre during the Japanese Occupation. Today’s Hong Lim Complex is another mixed-use HDB development with retail shops, banks, wet market and double-storey food centre, most famously known for curry chicken noodles.
Connected by a linkway is Chinatown Point next door, a modernistic shopping mall amongst older malls of People’s Park Complex and People’s Park Centre. After seeing declining footfall in the noughties, Chinatown Point has undergone renovation and now sees BreadTalk family, NTUC FairPrice and Daiso as main tenants, and library@chinatown occupying its 4th floor.
The former enclave for Chinese forefathers is now a conservation area to explore the rich Chinese culture and heritage. Amongst the old but rejuvenated shophouses include Chinatown Food Street at Smith Street, a high-ceiling glass canopy sheltered area that recreates the nostalgia of open-air hawker dining. Also at Smith Street is Chinatown Complex, a mixed-use HDB residential building with wet market at the basement, retails shops at level 1 and Singapore’s largest food centre at level 2 with over 260 stalls including a Michelin 1-star hawker stall selling soy sauce chicken.
Pearl’s Hill City Park
Right next to The Landmark is Pearl’s Hill City Park, a 9-hectare hilltop oasis of peace and serenity. Surrounding the fortress-like Pearl’s Hill Reservoir, visitors can enjoy respite from the stressful city life, busking in the dense mature Tembusu trees and lotus pond.
The 48m Fort Canning Hill has been an important place for officials and rulers dating way before Raffles’ founding in 1819 due to its high vantage point. Today, it is a place for outdoor events and visitors can at the same time enjoy the scenic tranquillity away from the bustling downhill. In addition, nine new gardens including one in honour of Singapore’s first botanic garden created by Raffles have opened in conjunction with bicentennial celebration in 2019. As mentioned in February 2020, there are plans to enhance the greenery along Orchard Road by creating a 6km green connection linking Singapore Botanic Gardens and Istana Park with Fort Canning Park. This will connect to the previously announced green connector linking both Fort Canning Hill and Pearl’s Hill City Park via Singapore River in the URA Master Plan 2019.
Walking straight down along Chin Swee Road and Clemenceau Avenue leads to Singapore River. Separated by Clemenceau Bridge are Robertson Quay and Clarke Quay at either sides. The former wharf of Robertson Quay consists mainly boutique hotels including international label InterContinental, while the conserved buildings at Robertson Quay and Mohamed Sultan Road offers a myriad of dining options.
Over at Clarke Quay, the supposed family-friendly hangout created from restoring the Teochew enclave is now mostly made up of food & beverage outlets and a popular nightspot destination following the relocation of Zouk.
The Landmark Site Plan
The Landmark facilities span across 4 levels - The splash zone on Level 2, The Verve on Level 14, The Social on level 34 and The Peak Verandha at roof top.
The main highlights will be its Infinity-edge swimming pool overlooking the Pearl Hill Park, and Sky Lounge with Magnificent skyline view of Singapore City.
The Landmark Floor Plan
The Landmark Price, Unit Types, Sizes
|UNIT TYPE||No. OF UNITS||SIZE||PRICE|
|1 Bedroom||144||495 sqf - 517 sqf|
|2 Bedroom||180||678 sqf - 764 sqf|
|3 Bedroom||72||1076 sqf - 1141sqf|
*Disclaimer: All information is subject to change at developer's discretion.
The Landmark Price Comparison
The winning bid of $286 million translates to a land rate of $1,406 psf per plot ratio (ppr) after taking into consideration the lease upgrade premium of $57 million. This price compares favourably to the $1,515 psf ppr achieved at Pearl Bank Apartments, which was sold to CapitaLand.
In comparison to its nearby developments, I would consider $2,100psf as a sweet spot to consider The Landmark. Investors should be able to accept its 2-bedroom in $1.3M-1.5M range. Estimated rental should be close to $5psf, which brings the yield close to 3%.
Some thoughts on The Landmark
- Most people will compare The Landmark with One Pearl Bank, its nearest competitor. One Pearl bank will appeal to buyers with a keen eye towards unique aesthetics, while The Landmark will provide a more regular internal layout.
- The Landmark is around 600m to Chinatown MRT station, however, the walk isn't an easy route. You have to walk through a bit of stairs and slope.
- I personally felt the 3-bedroom living hall looks cramp, with some space taken up by the private lift lobby. While the balcony attached to the ‘master bedroom’ gives it a bit more boost in the total surface area, some people may prefer the area to be allocated internally.
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