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March 30, 2021

Special Highlight: One Bernam, in the heart of Tanjong Pagar

Special Highlight: One Bernam, in the heart of Tanjong Pagar
By PropNex Research

A new residential tower is set to emerge in downtown Tanjong Pagar, amid exciting transformation in the precinct. Offering some 351 units of modern homes and commercial space, One Bernam will provide desirable inner-city living options for young professionals and families.

Artist Impression: One Bernam

Seen as one of the more attractive sites in recent Government land tenders, the 99-year leasehold plot in Bernam Street garnered four bids, with Hao Yuan Investment and MCC Land jointly snagging the site for $440.9 million or $1,463 psf per plot ratio (psf ppr). It is indeed a rare Government Land Sales site in the central business district (CBD); and as there have been limited new private residential launches in the area in the past few years, One Bernam should pull in healthy buying interest.

Living in the city has its perks. For those working in the CBD, it could mean a much shorter daily commute – perhaps at 15 minutes or less – with the option to cycle or even walk to work. Imagine skipping the daily morning and evening rush hour and not being caught in the traffic or the tight squeeze in trains and buses; this will certainly have some impact on reducing stress and improving mental wellness.

Artist Impression: One Bernam

Culture, Commerce and Connectivity
One Bernam is located in the heart of Tanjong Pagar, an area that has a rich history and is replete with architectural gems from heritage shophouses to modern skyscrapers. It is home to the tallest building in Singapore, the Tanjong Pagar Centre at 290 m. Apart from the gleaming skyscrapers, Tanjong Pagar is also a culturally-rich precinct with well-conserved shophouses that have been converted to a range of modern uses – from hotels, to retail shops, and F&B outlets.

There will be no shortage of cafes and dining options as well as nightlife buzz because Tanjong Pagar is a F&B hot spot. From Western fine dining, to happy hour pub grub, to delectable Korean and Japanese cuisine – there is something for every palate. Aside from the restaurants along Tanjong Pagar Road, Tras Steet, as well as Peck Seah Street, local hawker fare is widely available too – at nearby hawker centres in Amoy Street, Tanjong Pagar Road, and Maxwell Road.

Shops and supermarkets are also within easy reach. These include the 100 AM mall, Icon Village, Tanjong Pagar Plaza, International Plaza, OUE Downtown, and Tanjong Pagar Centre. In addition, the mega mall VivoCity, Mount Faber Park, Marina Bay Sands integrated resort, Gardens by the Bay, and Chinatown are also a short distance away. The area around One Bernam is also home to several hotels such as Amara Singapore, Oasia Hotel, Carlton City Hotel, M Hotel, and Sofitel Singapore City Centre.

Residents living in the CBD tend to enjoy unparalleled transport connectivity and convenience. The upcoming One Bernam is no different, being located within walking distance from two MRT stations: Tanjong Pagar MRT station (East West Line), and the upcoming Prince Edward Road MRT station (Circle Line). It is also well-served by main roads and expressways such as Shenton Way, Ayer Rajah Expressway, and Marina Coastal Expressway.

The excellent transport connection will also facilitate the commute to schools. Nearby education institutions include Cantonment Primary School, CHIJ (Kellock), Outram Secondary School, CHIJ St. Theresa’s Convent, Gan Eng Seng School, and School of the Arts, Singapore.

Meanwhile, the upcoming Prince Edward Road MRT station – estimated to be ready in 2025 – will provide direct access to employment hubs such as Paya Lebar, Tai Seng, and one-north via the Circle Line. It will also be a few stops from the Suntec City mall at Promenade MRT station, as well as sports and entertainment venues near the Stadium MRT station.

Artist Impression: One Bernam

A Future to Behold
Looking back, Tanjong Pagar has played an important role in Singapore’s economic progress with the development of the Keppel Harbour and port in the later part of the 19th century. Today, it is busy commercial and business hub where many multinational corporations operate from, and its evolution will not stop here.

Over the mid- to long-term, One Bernam has the potential to benefit from the government’s plan to rejuvenate the CBD and the highly anticipated Greater Southern Waterfront (GSW) development in the future.

Re-energising the CBD
The government has introduced incentives to encourage the redevelopment of older buildings in the CBD into mixed-use developments that will cater to a wider diversity of uses – such as residences and hotels – and to provide more lifestyle and entertainment options. Plans are also afoot to enhance connectivity in the downtown area and to enliven the city streetscape and public spaces. These initiatives are aimed at bringing more buzz to the city and turning it into a 24/7 precinct, which will remain vibrant and lively even after office hours.

According to the URA Master Plan 2019, the CBD will be transformed into dynamic neighbourhoods, such as in the Cecil and Anson precincts, where there will be city arcades or side streets offering amenities, shops and cafes fronting the main streets, as well as cosy courtyards and event spaces.

Future waterfront crown jewel: GSW
The GSW will cover 30km of Singapore’s southern coastline, spanning 2,000 hectares of land. It will be transformed into a new major gateway to future live, work, and play. One Bernam, being on the fringe of the GSW, looks set to enjoy the benefits of being near to the upcoming exciting waterfront precinct, which will have a range of commercial and recreation amenities.

Among the key features of the GSW is the continuous waterfront promenade that will seamlessly connect various places of interest, extending from Labrador Park to Marina South. The GSW is a large-scale endeavour that will be developed in phase, starting with the former Pasir Panjang Power District, Keppel Club and Mount Faber in the next five to 10 years.

About the developers
Hao Yuan Investment and MCC Land are experienced developers who have successfully launched and sold several residential projects in Singapore property. Among them, The Nautical, Forestville EC, Sea Horizon EC, Northwave EC, Queens Peak, The Alps Residences, The Poiz, and The Santorini.

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