The Tennery occupies a genuinely rare position in Singapore’s Outside Central Region: it is one of a small handful of developments where residents step off the lift directly above an MRT interchange and a three-storey retail mall without setting foot outdoors. Completed in 2013 by Far East Organization and sitting on a 99-year leasehold from 24 May 2010, the project delivers 338 units across five towers at 5A Woodlands Road, Bukit Panjang, District 23. The integrated podium connects residents via an air-conditioned link to Bukit Panjang MRT station — a dual-line node serving both the Downtown Line (DTL) and the Bukit Panjang LRT — and to Junction 10 mall, placing groceries, F&B, banking, and city-bound rail within a two-minute walk of the front door. For a buyer seeking car-lite OCR living with direct CBD access, that proposition is difficult to replicate at The Tennery’s price point.
Snapshot as of 2026-05 — figures above reflect publicly available URA/HDB data at the time of this editorial review (as of 2026-05).
Bukit Panjang’s transformation from a peripheral new town to a well-connected DTL node reshaped the investment story for District 23 broadly, and for The Tennery specifically. When Far East launched the project in 2010, the Downtown Line was still under construction; the DTL2 segment serving Bukit Panjang station opened in December 2015, materially cutting travel times to Botanic Gardens, Bugis, and Bayfront. The additional Hume station on the DTL opened in February 2025, further densifying the corridor. Today, Bukit Panjang MRT sits at the junction of the DTL and the LRT loop, giving The Tennery residents one-transfer access to Marina Bay, Shenton Way, and Changi Airport — a connectivity footprint that explains the development’s persistent rental demand despite its compact unit sizes.
From a market-data standpoint, The Tennery has recorded 147 URA caveats since its launch, with the 12-month average transacted price settling in the S$1,304 to S$1,418 psf range as of early 2026. The median transacted price for recent deals sits at approximately S$835,000 for sub-650 sq ft units. Rental yields average around 4.03%, modestly ahead of the District 23 benchmark of 3.44%, supported by asking rents of S$3,300 to S$3,800 per month for 872 sq ft units — roughly S$4.44 psf per month against the district average of S$4.24 psf per month. That combination of yield premium and MRT-integrated convenience anchors the investment case even as the lease clock ticks toward 84 remaining years.
We track 136 sales and 633 rental transaction records for this property. Explore live charts, price trends, rental yields, and investment analytics on the THE TENNERY dashboard.
- Average sale price: $847,365 across 136 transactions
- Estimated gross rental yield: 4.1%
- District 23 PSF ranking: Mid-range (top 65%)
- 99 yrs lease commencing from 2010 · OCR · D23 · 338 units
About THE TENNERY
THE TENNERY is a 99 yrs lease commencing from 2010 condominium, located at WOODLANDS ROAD in District 23 (Choa Chu Kang, Dairy Farm, Hillview, Bukit Panjang) (Outside Central Region), developed by DOLLAR LAND SINGAPORE PRIVATE LIMITED, comprising 338 residential units, completed in 2013.
With approximately 83 years remaining on its 99-year lease, the property qualifies for full bank financing and CPF usage.
Unit Mix Distribution
Transaction data breakdown by bedroom type at THE TENNERY:
| Type | Sales | Avg PSF | Avg Price |
|---|---|---|---|
| 1 BR | 106 | $1,279 psf | $785,469 |
| 2 BR | 30 | $1,216 psf | $1,066,063 |
Sales Market Overview
THE TENNERY has recorded 136 sale transactions with an average transaction price of $847,365, ranging from $660,000 to $1,270,000.
| Year | Sales | Avg PSF | Avg Price | YoY |
|---|---|---|---|---|
| 2021 | 31 | $1,143 psf | $773,871 | — |
| 2022 | 29 | $1,219 psf | $793,103 | ↑ 6.6% |
| 2023 | 19 | $1,282 psf | $886,526 | ↑ 5.1% |
| 2024 | 19 | $1,337 psf | $933,619 | ↑ 4.3% |
| 2025 | 30 | $1,350 psf | $886,930 | ↑ 0.9% |
| 2026 | 8 | $1,371 psf | $882,625 | ↑ 1.6% |
THE TENNERY ranks in the top 65% of condos in District 23 by average PSF.
Compared to the OCR average of $1,550 psf, THE TENNERY trades 18.4% below the segment benchmark.
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Rental Market Overview
THE TENNERY has recorded 633 rental transactions with monthly rents averaging $2,884/mo.
| Type | Leases | Avg Rent | Min | Max |
|---|---|---|---|---|
| 1 BR | 468 | $2,715/mo | $1,700/mo | $3,600/mo |
| 2 BR | 165 | $3,364/mo | $2,000/mo | $4,500/mo |
| Year | Leases | Avg Rent |
|---|---|---|
| 2021 | 146 | $2,221/mo |
| 2022 | 128 | $2,684/mo |
| 2023 | 116 | $3,252/mo |
| 2024 | 100 | $3,210/mo |
| 2025 | 113 | $3,214/mo |
| 2026 | 30 | $3,218/mo |
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Investment Analysis
Based on average rents and sale prices, THE TENNERY delivers an estimated gross rental yield of 4.1%. This places it among the higher-yielding condos in Singapore.
Competing Condos in District 23
Side-by-side comparison against the most actively traded condos in District 23 (Choa Chu Kang, Dairy Farm, Hillview, Bukit Panjang):
| Condo | Tenure | Units | Avg PSF | Sales |
|---|---|---|---|---|
| SOL ACRES | 99 yrs lease commencing from 2014 | 1327 | $1,383 psf | 550 |
| MIDWOOD | 99 yrs lease commencing from 2018 | 564 | $1,731 psf | 528 |
| LUMINA GRAND | 99 yrs lease commencing from 2022 | 512 | $1,515 psf | 512 |
| DAIRY FARM RESIDENCES | 99 yrs lease commencing from 2018 | 460 | $1,659 psf | 452 |
| THE BOTANY AT DAIRY FARM | 99 yrs lease commencing from 2022 | 386 | $2,053 psf | 388 |
Location Map
Map shows THE TENNERY (centre marker) with nearby MRT stations and schools. Drag to pan, scroll to zoom.
- THE TENNERY
- Ten Mile Junction MRT
- Phoenix MRT
- Bukit Panjang MRT
- Bukit Panjang MRT
- Senja MRT
- Pei Hwa Presbyterian Primary School
- Unity Primary School
- Springdale Primary School
Nearby MRT Stations
THE TENNERY is 60m from Ten Mile Junction MRT (Bukit Panjang LRT), with 14 stations within 1.5 km.
| Station | Code | Line | Distance |
|---|---|---|---|
| Ten Mile Junction | BP14 | Bukit Panjang LRT | 60m |
| Phoenix | BP5 | Bukit Panjang LRT | 290m |
| Bukit Panjang | DT1 | Downtown Line | 340m |
| Bukit Panjang | BP6 | Bukit Panjang LRT | 340m |
| Senja | BP13 | Bukit Panjang LRT | 410m |
| Petir | BP7 | Bukit Panjang LRT | 790m |
| Teck Whye | BP4 | Bukit Panjang LRT | 800m |
| Jelapang | BP12 | Bukit Panjang LRT | 920m |
Nearby Schools
There are 12 schools within 2 km of THE TENNERY, including 8 within the 1 km priority zone.
| School | Type | Distance |
|---|---|---|
| Pei Hwa Presbyterian Primary School | Primary | 580m |
| Unity Primary School | Primary | 610m |
| Springdale Primary School | Primary | 660m |
| West Spring Secondary School | Secondary | 760m |
| West Spring Primary School | Primary | 810m |
| Greenridge Secondary School | Secondary | 870m |
| Fajar Secondary School | Secondary | 970m |
| Bukit Panjang Primary School | Primary | 980m |
| Xishan Primary School | Primary | 1.2 km |
| Regent Secondary School | Secondary | 1.3 km |
| Bukit Panjang Government High School | Secondary | 1.3 km |
| Zhenghua Primary School | Primary | 1.5 km |
The Tennery’s defining strength is its seamless transit-and-retail integration. The podium connection to Bukit Panjang MRT means commuters never need to navigate rain, heat, or crowds on street level. The Downtown Line runs express-style through the Bukit Timah corridor — Beauty World, King Albert Park, Stevens, Botanic Gardens — delivering residents to the CBD fringe at Bugis in roughly 25 minutes and to the financial district at Bayfront in under 35 minutes. The co-located LRT loop supplements last-mile connectivity for journeys to Choa Chu Kang (North-South Line interchange) in minutes. For tenants employed downtown or in the one-north tech cluster, this connectivity justifies the rent premium over comparable OCR stock that requires a feeder bus leg.
The Far East Organization pedigree adds a layer of build-quality and brand recognition that matters in the leasing market. Far East is among Singapore’s most prolific developers with a long record of mixed-use integrated projects, and The Tennery’s SOHO-influenced 1- and 2-bedroom layouts — ranging from 614 to 883 sq ft — were conceived for the investor-owner or single professional segment that values location over unit size. High ceilings (3.4 m) and open-plan kitchens maximise the perception of space without inflating quantum.
The yield profile is a tangible bright spot. At 4.03%, The Tennery outperforms the District 23 average by roughly 60 basis points, a spread that reflects genuine rental demand from young professionals, healthcare workers near Ng Teng Fong General Hospital, and Jurong Lake District-bound tenants who value the DTL corridor. Gross rental yield above 4% is increasingly uncommon for completed OCR condos with sub-S$1 million entry quanta, making The Tennery a relevant name for income-oriented buyers running a cash-flow model or a ROI analysis.
Finally, the hyperlocal retail convenience is undersold in most listings. Junction 10 anchors daily needs — Cold Storage supermarket, banks, a food court, and casual dining — within the same building. Residents rarely need to drive for routine errands, which is a meaningful quality-of-life differentiator and a rental talking point when marketing to car-lite tenants.
The Tennery carries several structural risks that buyers should weigh carefully before committing.
Lease tenure and decay trajectory. With the 99-year lease running from May 2010, the development had approximately 84 years remaining as of mid-2026. At this stage, lease decay begins to exert measurable downward pressure on capital values and CPF usability. Buyers intending a 10-to-15 year hold will find themselves selling with roughly 70 years on the lease — the threshold at which financing tightens materially under the Monetary Authority of Singapore’s loan-to-value and loan-tenure rules. Buyers should stress-test this exit scenario using a lease-decay calculator before committing.
Thin resale liquidity and capital appreciation track record. An independent analysis published by Stacked Homes identified multiple periods in which The Tennery underperformed comparable launches, citing unit format constraints (compact SOHO layouts that resist family-friendly reconfiguration), limited plot ratio for en-bloc potential, and competitive pressure from Hillion Residences — which offers superior mall quality, a larger unit mix, and near-identical MRT connectivity. Resale volumes are modest: five recorded transactions between November 2025 and January 2026 across 338 units suggests an annualised turnover rate below 5%, meaning price discovery can be lumpy and buyers seeking a rapid exit may face thin demand.
Unit size ceiling on tenant profile. Capping at 883 sq ft, The Tennery is effectively a singles-and-couples development. Families with children or tenants requiring a dedicated home-office room will look elsewhere, compressing the renter universe and creating tenant concentration risk in the event of an employment-cycle downturn in the professional segment.
Retail and mall competition. Junction 10 is a functional, neighbourhood-scale mall, but it lacks the experiential anchors — cinema, large-format gym, premium dining — of regional malls like Lot 1 or Hillion Mall. Tenant mix can shift over lease cycles, and any deterioration in Junction 10’s occupancy or anchor-tenant quality would directly affect the lived experience and the marketing pitch for future resale or rental listings.
[
{
"persona": "Young professional working in the CBD or Marina Bay",
"fit_color": "green",
"reason": "Direct DTL access to Bayfront and Bugis in under 35 minutes, sub-S$850K entry quantum, and above-average yield if the unit is later rented out make this a strong first-home or buy-to-let choice for a single or couple with a City Hall-area office."
},
{
"persona": "Investor seeking OCR yield above 4%",
"fit_color": "green",
"reason": "At 4.03% gross yield versus the 3.44% District 23 average, and with asking rents of S$3,300 to S$3,800 per month supported by MRT-integrated convenience, the development generates consistent rental income. Run the numbers on a <a href=\"/calculator/cash-flow\">cash-flow calculator</a> to confirm net yield after MCST fees and vacancy."
},
{
"persona": "Healthcare or education worker near Bukit Panjang or Tengah",
"fit_color": "green",
"reason": "Ng Teng Fong General Hospital is accessible via Jurong East (EW-NS interchange reachable from Choa Chu Kang in one transfer), and the Tengah new town masterplan is drawing employers westward. Bukit Panjang LRT connectivity to Choa Chu Kang adds a second rapid-transit option."
},
{
"persona": "Young family with school-age children",
"fit_color": "yellow",
"reason": "Unit caps at 883 sq ft constrain bedroom counts, making configurations tight for families needing a dedicated study room or helper’s quarters. Bukit Panjang primary schools are nearby, but the unit sizing warrants careful inspection before committing."
},
{
"persona": "Long-hold value investor targeting capital appreciation",
"fit_color": "red",
"reason": "Historical resale data shows The Tennery has underperformed comparable OCR launches on capital gains. Lease decay will steepen after 2025, en-bloc prospects are limited by plot size, and competition from Hillion Residences (newer, larger mall) is a structural headwind. Better capital-appreciation candidates exist in <a href=\"/district/23\">District 23</a>."
},
{
"persona": "Buyer using full CPF for a long-term owner-occupied home",
"fit_color": "yellow",
"reason": "CPF usage rules tighten as lease drops below 60 years, and buyers in their 30s intending a 30-year hold need to model the CPF withdrawal restrictions that will apply at exit. Use the <a href=\"/calculator/affordability\">affordability calculator</a> to assess total cash outlay and the <a href=\"/calculator/lease-decay\">lease-decay tool</a> for the 2045 horizon."
}
]
The Tennery is a genuinely convenient address for the right buyer profile, and its transit-integrated proposition remains one of the strongest in the OCR segment for car-lite professionals. The DTL connection to the CBD, the seamless mall linkage, and a rental yield that comfortably clears the district average give it a defensible income story that many OCR condos lack. For a single professional or young couple with a downtown workplace, an 800 sq ft unit at S$835,000 with direct MRT access and above-average rental demand represents reasonable value.
The headwinds, however, are real. Lease decay will become a material friction at the next resale cycle, compact unit formats limit the pool of potential tenants and buyers, and the capital-appreciation track record is weaker than one might expect from a seemingly premium integrated-transit address. Buyers optimising purely for long-run capital growth should compare The Tennery against newer D23 launches before deciding, and anyone stretching CPF or planning a two-decade hold must run a lease-decay scenario with current bank financing assumptions to avoid a pinch at exit. As a yield play with a medium-term horizon of seven to ten years, though, The Tennery delivers — and the Bukit Panjang DTL node is only getting more connected as the line matures.
FAQ
What is the average price for THE TENNERY?
What is the rental yield for THE TENNERY?
Is THE TENNERY freehold or leasehold?
How far is The Tennery from Bukit Panjang MRT station?
The Tennery is directly integrated with Bukit Panjang MRT and LRT station via an air-conditioned link through the Junction 10 mall podium. Residents can reach the platform without stepping outside, making it one of the most seamlessly connected developments in District 23. The Downtown Line (DTL) at Bukit Panjang provides direct trains to Botanic Gardens, Bugis, and Bayfront, while the LRT loop connects to the North-South Line at Choa Chu Kang in under five minutes.
How much lease is remaining on The Tennery, and does it affect financing?
The Tennery sits on a 99-year lease commencing 24 May 2010, leaving approximately 84 years as of mid-2026. At this stage, financing is largely unaffected — banks and CPF generally apply standard terms for leases with 60-plus years remaining. However, buyers planning a 15-to-20 year hold should model what 65-70 remaining years means for their exit: MAS loan-to-value rules tighten, CPF usage limits apply, and buyer pools thin. Use the lease-decay calculator to stress-test your specific holding period.
What unit types and sizes are available at The Tennery?
The Tennery offers 1-bedroom and 2-bedroom SOHO-influenced apartments across five towers, with unit sizes ranging from 614 sq ft to 883 sq ft. The development was specifically designed for singles, couples, and small households who prioritise location and transit access over unit size. There are no 3-bedroom or larger units. Ceiling heights reach 3.4 metres, providing a degree of spatial openness, but the compact floor plates mean reconfiguration for family living is limited.
Is The Tennery suitable for families with children?
The Tennery is less suited to growing families than to singles and couples. The maximum unit size of 883 sq ft does not comfortably accommodate a household with school-age children requiring separate bedrooms or study space. Bukit Panjang Primary School and several preschools are within the neighbourhood catchment, so proximity to schools is not the constraint — unit size is. Families who need a 3-bedroom layout at an OCR price point would be better served exploring other options in District 23, where several developments offer 1,000-plus sq ft units at comparable or modestly higher psf.
Methodology & Sources
This analysis covers All available years and refreshes as new data becomes available.
Transaction data sourced from URA REALIS.
- Sales data: 136 transactions analysed
- Rental data: 633 lease records analysed
- Gross yield = (avg monthly rent × 12) / avg sale price
Median values used to minimise outlier impact. PSF = price per square foot.
View Live Data for THE TENNERY
Access the full interactive dashboard with real-time sales trends, rental yields, and investment calculators.