Overview

1. Historical Overview:

   – Limited new launches in Tanjong Pagar since 2013 (Wallich Residence).

   – 2019 GLS site acquisition during a period of subdued land banking activity.

2. Potential Demand:

   – Assess the potential demand for One Bernam in Tanjong Pagar.

   – Consider the scarcity of recent launches and the area’s attractiveness.

3. Personal Observation of Price Trends:

   – Examine price trends in Tanjong Pagar since the 2019 GLS acquisition.

   – Analyze any observed patterns or notable changes in property prices.

4. Developer’s Pricing Strategy:

   – Evaluate the pricing strategy of Hao Yuan Investments for One Bernam.

   – Compare pricing approaches with other developments in the vicinity.

5. Prediction for Unit Pricing:

   – Offer insights into the anticipated pricing range for units in One Bernam.

   – Consider factors such as unit sizes, location, and market conditions.

6. Comparison with Previous Peaks:

   – Compare current market conditions with previous peak periods in Tanjong Pagar.

   – Assess the potential for property value appreciation or stabilization.

7. Market Caution and Consideration:

   – Provide a cautious perspective, considering external factors that may impact the property market.

   – Offer considerations for potential buyers or investors in Tanjong Pagar.

8. Excitement Features:

   – Highlight unique features of One Bernam that may generate excitement.

   – Consider aspects such as size, location, amenities, or innovative design.

Inside Tour

1. Overview:

   – One Bernam, a 351-unit development in District 2, Tanjong Pagar.

   – Showflat located opposite Guoco Tower, providing insights into the nearby surroundings.

2. Development Context:

   – Historical background of One Bernam as a GLS site with limited competition.

   – Consideration of the residential character in Tanjong Pagar, distinct from the corporate feel of Raffles Place.

3. Differentiation and Features:

   – Limited competition during GLS acquisition potentially leading to more affordable launch prices.

   – Introduction of the CBD Incentive Scheme, allowing a mix of residential units, serviced apartments, and retail space.

   – Connectivity to neighboring developments and upcoming lifestyle options.

4. Design and Facilities:

   – Overview of the bronzed brown color palette and design aesthetics.

   – Residential component starting from the 5th floor, offering elevated views.

   – Basement and multi-storey car park availability, catering to the majority of residents without cars.

5. North Site Facilities:

   – Introduction of the internal street concept with a retail component.

   – Discussion on the accessibility and potential impact on privacy.

   – Nearby developments and future lifestyle options.

6. South Site Facilities:

   – Overview of the facilities on the 4th floor, including a lap pool, Clubhouse, and dining facilities.

   – Evaluation of the swimming pool size and comparison with competitors.

   – Inclusion of pool pavilions and efforts to incorporate greenery into the CBD setting.

7. Additional Amenities:

   – Exploration of Level 4 Sky Terrace facilities, such as the yoga deck, Gourmet Function Room, and outdoor Dining Pavilion.

   – Examination of Level 34 Sky Terrace amenities, including a Japanese-themed Tatami Garden, sky gym, and sky dining.

   – Insights into the practicality and potential usage of unique features like the tatami deck.

8. Excitement Features:

   – Highlight of exclusive features like the sky gym, sky dining, and penthouses on the 35th floor.

   – Consideration of the dining facility’s significance in a project dominated by smaller 1 and 2-bedroom units.

One Bernam 1 Bedroom

Unit Details:

   – Introduction to the 1-bedroom unit’s layout and size (452 square feet).

   – Comparison with other available layouts (441 square feet and 463 square feet).

   – Emphasis on the focus of creating larger living spaces in 2 and 3 bedroom units.

Dining Area:

   – Description of the entranceway and its square-sized layout.

   – Commentary on the entrance’s suboptimal size for units under 400 sq ft.

   – Recognition of premium fittings such as marble flooring and high-end kitchen equipment.

Kitchen:

   – Overview of the kitchen/dining space and its storage capacity.

   – Highlight of the Blum cabinet system above the sink.

   – Presentation of premium kitchen fittings, including Franke sink and V-ZUG oven and fridge.

   – Acknowledgment of less than desirable countertop space.

Living Room:

   – Examination of the living room’s size and aesthetics.

   – Commentary on the space-efficient design, with additional storage and a small dining table.

   – Recognition of the built-in dining table and its space-saving attributes.

Storage:

   – Discussion on the clever built-in dining table and its functionality.

   – Comparison with other space-saving solutions in similar developments.

   – Expression of appreciation for smart furniture systems in smaller apartments.

Bedrooms:

   – Evaluation of the master bedroom’s size and layout.

   – Commentary on the impact of the external AC ledge on full-length windows.

   – Suggestion for optimizing space by positioning the bed.

Bathrooms:

   – Overview of the bathroom’s size, aesthetics, and color scheme.

   – Recognition of upmarket touches, including Laufen sanitary wares and Gessi bathroom fittings.

   – Appreciation for the inclusion of a rain shower.

Overall Design:

   – Recapitulation of the unit’s overall design, considering size, layout, and premium fittings.

   – Highlight of specific features contributing to the unit’s appeal.

   – Balanced assessment of the unit’s strengths and potential areas for improvement.

One Bernam 2 Bedroom + Study Review

Unit details

   – Introduction to the 829-square-feet 2 Bedroom + Study unit.

   – Commentary on the unit’s size and its distribution within the development.

   – Notable absence of a 2-bedroom dumbbell layout and unique layout characteristics.

Entrance:

   – Comparison with the 1-bedroom entrance, highlighting the regular entranceway.

   – Consideration of additional storage possibilities and the use of marble flooring.

Study Area:

   – Evaluation of the study area’s size and versatility.

   – Suggestion for potential alternative uses, such as an additional room.

   – Acknowledgment of the lack of a window and its implications.

Common Bathroom:

   – Praise for the jack-and-jill configuration allowing access from both living and study areas.

   – Description of the bathroom’s size, fittings, and the aesthetic appeal of black and white color scheme.

   – Recognition of the common bathroom featuring a rain shower.

   – Drawback: Lack of a window and potential impact on ventilation.

Kitchen:

   – Analysis of the kitchen’s size and countertop space.

   – Recognition of high-quality brands, including Blum, V-ZUG, and Franke.

   – Appreciation for the matte finish sink by Franke.

Living and Dining:

   – Overview of the integrated living and dining space.

   – Commentary on the limitations of space for dining and living arrangements.

   – Recognition of the balcony as an additional feature for the 2-bedroom units.

Hallway and Bedrooms:

   – Description of the hallway leading to both bedrooms.

   – Evaluation of the common bedroom’s size and potential bed placement.

   – Commentary on the wardrobe’s design, features, and usefulness.

   – Quirk in the master bedroom with the AC ledge partially obstructing a panel of the window.

Master Bedroom:

   – Assessment of the master bedroom’s size and layout.

   – Observation of the unique quirk with the AC ledge and its potential impact.

   – Appreciation for the addition of a pull-out mirror and the potential for additional storage.

Master Bathroom:

   – Overview of the master bathroom’s size, fittings, and brands.

   – Consideration of the lack of windows in both bathrooms.

Overall Design:

   – Recapitulation of the unit’s overall design, taking into account size, layout, and unique quirks.

   – Balancing positive aspects, such as premium fittings, with potential drawbacks.

   – Consideration of the target demographic and its alignment with CBD living.

One Bernam 3 Bedroom Review

Unit details:

   – Emphasis on the 1,421-square-feet 3 Bedroom unit as a standout option, particularly for those seeking own-stay in the CBD.

   – Notable features like the private lift exclusive to the 3 bedroom units and the absence of a 2-bedroom dumbbell layout.

Entrance:

   – Introduction of the private lift exclusive to the 3 bedroom units.

   – Positive impressions of the space upon entering, maintaining a balance between adequate and overly large.

Dining Area:

   – Assessment of the dining area’s size and its potential to comfortably seat six people.

   – Identification of the narrow table as a potential limitation for communal dining and entertaining.

Kitchens:

   – Examination of the dry kitchen with a Franke sink, Blum system, and additional storage spaces.

   – Overview of the wet kitchen’s size, countertop space, and premium brands.

   – Appreciation for the improved look and materials used in the 3 bedroom kitchen compared to smaller units.

Additional Spaces:

   – Introduction of the bomb shelter utilized as a helper’s room or utility space.

   – Description of the WC with a window for better ventilation.

   – Acknowledgment of the absence of a proper yard area.

Living Room and Balcony:

   – Evaluation of the living room’s size and potential for comfortable seating.

   – Appreciation for the balcony spanning the width of the living room.

   – Consideration of the balcony’s size in relation to the indoor living space.

Common Bedrooms:

   – Recognition of the decent size of both common bedrooms at 11.2 sqm.

   – Identification of the absence of full-length windows due to the presence of the AC ledge outside.

   – Commentary on storage with standard 2-panel wardrobes featuring pull-out features.

Common Bathroom:

   – Description of the averagely sized common bathroom with high-quality finishings.

   – Appreciation for the rain shower and the presence of a good-sized window for ventilation.

Master Bedroom:

   – Recognition of the larger size of the master bedroom.

   – Introduction of a small private balcony for the master bedroom.

   – Commentary on the absence of a walk-in wardrobe despite the unit’s size.

   – Appreciation for the master bedroom’s unobstructed full-length windows.

Master Bedroom Storage and Bathroom:

   – Description of the 2.5-panel wardrobe in the master bedroom with pull-out features.

   – Highlighting the presence of a tall, slim window for additional natural light.

   – Comparison of the master bathroom to the common bathroom, emphasizing similar features.

   – Appreciation for the good-sized window in the master bathroom for natural ventilation

Location Overview

1. Prime CBD Location: Situated in the heart of the Central Business District, One Bernam offers the convenience of being in one of Singapore’s busiest and most vibrant business districts.
2. Accessibility: The condo is just a six-minute walk (500 meters) from Tanjong Pagar MRT station, providing easy access to public transportation. It is also close to upcoming transportation infrastructure, such as the Prince Edward MRT station on the Circle Line.
3. Grocery and Retail Convenience: The proximity to 100 AM mall, housing Don Don Donki, FairPrice Finest, and Cold Storage, ensures residents have easy access to groceries and retail options.
4. Revitalization of CBD: The ongoing URA revamp in the CBD, with incentives for mixed-use buildings, suggests potential future developments in the area. This could lead to a more balanced mix of amenities and residential options.
5. Schools and Preschools: While primarily a CBD condo, One Bernam is within walking distance of preschools like Mulberry Learning Centre and My First Skool. Cantonment Primary School is also nearby, making it suitable for families with older children.

Public Transport Overview

MRT Station:

Upcoming MRT Station:

This detailed breakdown provides an overview of the bus stations, MRT accessibility, and the upcoming MRT station near One Bernam, offering residents multiple options for public transportation.

Price Review: One Bernam

One Bernam stands out as a competitive option in District 02 with its pricing strategy.

At $2,3XX to $2,5XX per square foot (psf), One Bernam offers a compelling proposition for a District 02 condominium. As of April 2021, the district’s average psf was $2,733, making One Bernam’s pricing notably lower than the district norm. This is particularly significant considering that new launches tend to debut at or above the district’s average.

In a direct comparison with neighboring units such as Icon, Altez, and Skysuites, One Bernam emerges as an affordable new launch, a trend contrary to the usual pattern of new launches being priced significantly higher than existing properties.

However, the lower pricing of One Bernam raises considerations about the competitive dynamics in the area. With strong contenders like Icon, Altez, and Skysuites, tenants may perceive limited differentiation, potentially defaulting to the most cost-effective option. While this aligns with affordability for tenants, landlords might find it challenging to stand out in a market where pricing becomes a critical factor.

Let’s delve into a detailed comparison with nearby developments and explore the resale and rental landscape.

Resale and Rental Comparison: One Bernam in Context

Development Comparison:

Rental Yield Comparison:

New Launch Comparison:

To understand One Bernam’s positioning in the market, a comprehensive comparison with completed projects in the vicinity is essential. Here’s a breakdown of various developments:

• Development Comparison:Analysis:

• Competitive Pricing: One Bernam’s pricing, ranging from $2,3XX to $2,5XX psf, positions it attractively against the district average and neighboring developments. The affordability factor is particularly noteworthy for a new launch in the CBD.
• Rental Landscape: While indicative rental figures for One Bernam are pending, a comprehensive view of rental yields from surrounding developments suggests a need for competitive pricing to achieve favorable yields. The Arris, a freehold property, commands a 3.51% yield, setting a benchmark for One Bernam.
• Comparative New Launch Pricing: In comparison to new launches like Avenue South Residence and One Pearl Bank, One Bernam holds its ground in terms of pricing. The consideration extends beyond psf rates to factors such as location and upcoming developments in the area.

Conclusion:

One Bernam presents an enticing option with its competitive rates, appealing to both buyers and potential tenants. Despite affordability, the challenge lies in establishing a unique identity in the competitive CBD landscape. Investors eyeing a well-priced entry point in District 02 will appreciate One Bernam’s affordability, coupled with the potential for long-term value appreciation amid ongoing CBD rejuvenation. Success depends on effective differentiation and seizing opportunities in the evolving CBD dynamics.

Appreciation Analysis

The URA Master Plan indicates a significant mixed-use plot between Enggor and Gopeng Street, with a GFA of 8.4. This aligns with URA’s vision for a vibrant work/live/play environment. While introducing more service apartments and condos enhances livability, it also adds to the densely packed area’s supply. Government-led rejuvenation efforts typically yield positive outcomes, yet the immediate impact on appreciation remains uncertain, especially considering the evolving work landscape due to the ongoing pandemic. If remote work becomes more prevalent, the traditional draw of the CBD may diminish.

Developer Review: MCC Land and HY Realty

One Bernam is the result of a collaboration between two reputable developers: MCC Land and HY Realty.

MCC Land (Singapore):

As a part of the state-owned MCC Group in China, MCC Land (Singapore) established itself in 2010 and has been a prominent player in the local real estate scene. With a diverse portfolio, including developments like The Alps, The Poiz, and The Santorini, MCC Land brings a decade of experience to the table. Their extensive footprint in Singapore comprises 12 projects, spanning private condos, mixed-use developments, and Executive Condominiums.

HY Realty:

Hailing from China, HY Realty has left its mark in the Alexandra area with projects like Queens Peak. As a developer with roots in China, HY Realty contributes its expertise and experience to the One Bernam development.

Together, MCC Land and HY Realty form a formidable team, blending international experience with a strong local presence to bring One Bernam to life.