76 Shenton
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Overview & Key Facts
76 Shenton is a 202-unit, 99-year leasehold condominium at 76 Shenton Way in District 2 — a compact CBD tower developed by Hong Leong Group (via Hong Leong House Pte Ltd) and completed in 2014. The development sits squarely in the Core Central Region (CCR), occupying one of the most transit-dense corridors in Singapore: three MRT stations across three different lines within 500 metres. With approximately 87 years remaining on its 99-year lease, 76 Shenton straddles the line between a mature investment asset and a development still comfortably within CPF and financing parameters — a distinction that matters enormously for its buyer profile.
The number that defines 76 Shenton is its 4.09% gross rental yield. In a Core Central Region where most condominiums generate 2.5–3.2%, a yield above 4% is genuinely exceptional. This is underpinned by 605 rental transactions on record from just 202 units — an average of approximately 3.0 rentals per unit, reflecting a tenant base with high turnover but relentless replacement demand. At $4,596/month average rent and a median price of $1,320,000, the rental math is straightforward: you are buying a CBD address at roughly $1,961 PSF while generating income that rivals suburban developments with none of the location constraints. The investment score of 75/100 — firmly in the "high" category — validates what the yield already tells you.
But the profitability score of just 29/100 tells the other half of the story. Sellers at 76 Shenton have struggled to achieve meaningful capital gains. The PSF trend over recent periods — $1,897 → $1,953 → $1,989 → $1,901 → $2,027 — oscillates in a band rather than trending decisively upward. This is not a capital appreciation play. It is a cash-flow machine in one of the world’s most expensive business districts, and buyers who approach it with that understanding will find one of the most compelling yield stories in Singapore’s CCR market. Buyers expecting PSF growth should look elsewhere.
Location & Connectivity
76 Shenton sits on Shenton Way itself — the address that has defined Singapore’s financial district for decades. Unlike newer CBD developments that cluster around the reclaimed lands of Marina Bay, Shenton Way occupies the established heart of the business district, flanked by the towers of MAS, SGX, and the banking headquarters that line the street. The location places residents within walking distance of two distinct precincts: the corporate towers of Shenton Way and Raffles Place to the north, and the textured, liveable neighbourhood of Tanjong Pagar to the south. This dual character is central to 76 Shenton’s appeal — it is simultaneously a financial district address and a neighbourhood with genuine street-level life.
MRT connectivity is the location’s crown jewel. Three MRT stations serve three separate lines, all within 500 metres: Tanjong Pagar (East-West Line) at 340 metres, Prince Edward Road (Circle Line) at 390 metres, and Shenton Way (Thomson-East Coast Line, opened 2024) at 440 metres. Three lines, three stations, all under a 5-minute walk. The Thomson-East Coast Line’s opening has been transformative — residents can now reach Orchard (3 stops via TEL), Woodlands (direct), and the East Coast corridor without transfers. For drivers, the Ayer Rajah Expressway (AYE) and Central Expressway (CTE) are accessible within minutes via the Maxwell and Keppel Road network.
The food and lifestyle scene mirrors what Tanjong Pagar offers: Maxwell Food Centre is a 7-minute walk, the Amoy Street Food Centre is closer still, and the Duxton Hill and Keong Saik Road dining precincts are within 10 minutes on foot. Lau Pa Sat, the heritage hawker centre, is a 5-minute walk north. For groceries, FairPrice at Tanjong Pagar Plaza and various convenience stores along Shenton Way handle daily needs, though a full supermarket run may require a short trip.
The school situation is the location’s Achilles’ heel. Cantonment Primary School at 1.39 km is the nearest primary school — outside the 1 km priority enrollment radius. There are no primary schools within 1 km. For families with young children, this is a deal-breaker. For the CBD professionals, expat tenants, and yield-focused investors who constitute 76 Shenton’s core market, it is irrelevant.
Schools & Education
| School | Type | Distance |
|---|---|---|
| Cantonment Primary School | primary | ~1.4 km |
| Outram Secondary School | secondary | ~1.6 km |
Facilities
At 202 units, 76 Shenton is a boutique development by CBD standards — smaller than ICON (646 units), One Bernam (364 units), and Skysuites@Anson (360 units). The smaller unit count means a correspondingly smaller facility set, and expectations must be calibrated accordingly. This is not a resort-style mega-development with themed gardens and multiple pools. It is a compact, well-maintained tower that provides the essentials without the excess.
The development offers a swimming pool, gym, BBQ pavilion, and function room — the core amenities that matter for daily use. The pool is sized appropriately for 202 units and is rarely overcrowded, a tangible advantage over larger developments where pool access during peak hours can be frustrating. The gym is functional and adequately equipped, though serious fitness enthusiasts will likely supplement with a CBD gym membership — easily done given the density of fitness options within walking distance (Anytime Fitness, Fitness First, and various boutique studios on the Shenton Way corridor).
Security is 24-hour with card access and CCTV coverage. Building management maintains the common areas to a standard consistent with the development’s age — completed in 2014, 76 Shenton is now 12 years old but still well within the window where facilities are functional and presentable without requiring major capital expenditure. The maintenance fees benefit from the modest facility set: fewer shared amenities means lower monthly outgoings, which directly supports the yield calculation that drives most purchase decisions here.
Unit Sizes & Layout
76 Shenton’s 202 units are distributed across a single tower, offering a mix that skews toward compact configurations — studios, 1-bedroom, and 2-bedroom units dominate, with limited larger layouts. The median transaction price of $1,320,000 at $1,961 PSF implies a typical unit size of approximately 673 square feet — firmly in 1-bedroom to small 2-bedroom territory. This compact profile is deliberate: Hong Leong targeted the CBD rental market where single professionals and couples, not families, form the tenant base.
The layouts, completed in 2014, reflect a design era that prioritised efficiency without descending into the extreme compression of post-2018 shoebox units. Rooms are functional, kitchens are usable (though compact), and living areas accommodate standard furniture without requiring creative space-saving solutions. The 2014 vintage means finishes are modern enough to remain acceptable for the rental market without the dated feel of 2007-era developments, though some original fittings — particularly bathroom fixtures and kitchen countertops — may benefit from cosmetic refreshing to maintain rental competitiveness against newer CBD stock.
Higher floors offer views of the CBD skyline and, depending on facing, partial glimpses of the waterfront — valuable for both personal enjoyment and rental premiums. Lower floors face adjacent commercial buildings and will have limited natural light during business hours. Stack and facing selection is critical at 76 Shenton: the difference between a high-floor unit with city views and a low-floor unit hemmed in by office towers is significant, both in livability and in rental asking price.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 1 BR | 32 | $1,980 | $1,198,844 |
| 3 BR | 25 | $1,903 | $1,855,676 |
Pricing & Market Position
Based on 57 recorded transactions, sale prices range from $1,050,000 to $2,200,000, averaging $1,486,928 (~$1,967 psf).
Rents range from $2,900 to $7,500 per month across 610 rental transactions. Current rental yield sits at approximately 4.1%.
Price Appreciation
From 2021 to 2026, the average PSF has appreciated by 3.6% (from $1,897 to $1,965 psf).
Neighbourhood Comparison
One Bernam ($2,587 PSF, 364 units, 99-year from 2021) is the most direct new-launch competitor in the Tanjong Pagar corridor. At a 32% PSF premium over 76 Shenton ($2,587 vs $1,961), One Bernam offers a fresh 99-year lease (97+ years remaining), modern architectural design by ADDP Architects, and the full contemporary amenity set including rooftop facilities and co-working spaces. The lease differential is the clearest distinction: One Bernam’s near-full lease means unrestricted CPF usage and maximum LTV for the next several decades, while 76 Shenton’s 87-year lease, though currently comfortable, will begin encountering financing headwinds within 15–20 years. However, the yield comparison favours 76 Shenton decisively: at 4.09% gross versus One Bernam’s projected 2.5–3.0% at launch pricing, 76 Shenton generates roughly 35–60% more rental income per dollar invested.
Newport Residences ($3,127 PSF, freehold, 487 units) represents the premium freehold option in the precinct. The freehold tenure eliminates all lease-decay concerns and supports perpetual asset value, but at a staggering 60% PSF premium over 76 Shenton. At those price levels, gross yield compresses to an estimated 2.0–2.5% — roughly half of what 76 Shenton delivers. Newport is a fundamentally different proposition: a long-term capital preservation play for ultra-high-net-worth buyers who prioritise tenure certainty over income generation. For yield-focused investors, Newport’s price tag makes the rental mathematics prohibitive.
ICON ($1,797 PSF, 646 units, 99-year from 2002, TOP 2007) is the closest functional peer — another CBD yield play in the same precinct. ICON trades at an 8% PSF discount to 76 Shenton but carries only 75 years of remaining lease versus 76 Shenton’s 87 years. That 12-year lease gap is material: ICON has already crossed CPF thresholds that 76 Shenton won’t encounter for over a decade. ICON’s larger scale (646 units) provides slightly more facility breadth, but its 2007 vintage means older finishes and higher near-term capex risk. Both generate exceptional yields (ICON at 4.34%, 76 Shenton at 4.09%), making the choice between them primarily a lease-versus-price trade-off.
Skysuites@Anson ($2,229 PSF, 360 units, 99-year from 2011, TOP 2014) was completed in the same year as 76 Shenton and offers a useful age-peer comparison. At a 14% premium, Skysuites provides a slightly longer lease (approximately 85 years), a larger unit count with more diverse layouts, and Tanjong Pagar MRT within 200 metres. The premium buys a modestly better lease profile and a larger, better-equipped development. 76 Shenton counters with a lower entry price, triple MRT access (Skysuites primarily depends on Tanjong Pagar station alone), and a yield that edges higher due to the lower capital outlay. For investors choosing between them, Skysuites offers a safer all-round profile at moderate premium; 76 Shenton offers maximum yield per dollar.
Sky Everton ($2,802 PSF, freehold, 262 units) in the adjacent Everton precinct offers a boutique freehold alternative. The 43% PSF premium over 76 Shenton buys perpetual tenure and a newer, architecturally distinctive development. Like Newport, the freehold pricing compresses yields to a level that makes Sky Everton a capital-preservation play rather than an income play. The comparison underscores 76 Shenton’s positioning: it sacrifices tenure longevity and aesthetic appeal for the highest rental yield in the immediate competitive set.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| 76 SHENTON | 2014 | 202 | $1,967 | |
| ONE BERNAM | 99 yrs lease commencing from 2019 | 2021 | 364 | $2,587 |
| NEWPORT RESIDENCES | Freehold | 2026 | 487 | $3,128 |
| ICON | 99 yrs lease commencing from 2002 | 2007 | 646 | $1,791 |
| SKYSUITES@ANSON | 99 yrs lease commencing from 2008 | — | 360 | $2,230 |
| SKY EVERTON | Freehold | 2021 | 262 | $2,800 |
Lease Decay Analysis
The 99-year lease runs from 2014, meaning approximately 12 years have already been consumed. Roughly 87 years remain — still comfortably within the range where most banks will offer full financing without restrictions.
| Year | Lease remaining | Implication |
|---|---|---|
| 2026 (now) | ~87 years | Full bank financing available |
| 2044 | ~69 years | CPF usage still unrestricted for most buyers |
| 2053 | ~59 years | Approaching 60-year threshold — CPF limits begin for some |
| 2073 | ~39 years | Significant financing restrictions for next buyer |
| 2113 | Expiry | Lease reverts to state |
For a buyer purchasing today with a 10-year horizon (exit around 2036), the lease situation is essentially a non-issue — you’d be selling a property with ~77 years remaining, which is still very bankable. The risk profile changes for longer holds.
ShiokNest Scores
Our proprietary scoring system evaluates 76 SHENTON across multiple dimensions.
What Residents Say
“Three MRT stations within walking distance, each on a different line — I can get anywhere in Singapore without planning. Tanjong Pagar for the East-West, Prince Edward Road for the Circle Line, and the new Shenton Way TEL station changed everything. I haven’t taken a taxi in months.”
— Resident review, finance professional
“The yield is real. I’ve owned my 1-bedroom since 2016 and I’ve never had a vacancy longer than a week. The tenant demand from Shenton Way and Raffles Place office workers is constant. My unit was tenanted within 3 days of the last lease ending. The capital gains haven’t been exciting, but the cash flow is excellent.”
— Owner-investor via 99.co
“It’s a small development — you get to know the security team, the pool is never crowded, and the building is quiet. The trade-off is that there isn’t much in terms of facilities. But honestly, Lau Pa Sat is my food court, Duxton Hill is my bar, and the Southern Ridges is my park. The neighbourhood is the amenity.”
— Resident review, expat tenant
“Unit sizes are compact — my 1-bedroom is functional but there is no room for excess. The kitchen is tight if you actually cook. Finishes are holding up well for a 2014 build, but the bathroom could use a refresh. For the rent I pay, I expected slightly more space, but the location compensates.”
— Tenant review via PropertyGuru
“Don’t buy this for the condo experience. There is no tennis court, no fancy clubhouse, no resort vibe. Buy it because Shenton Way is a 2-minute walk, Maxwell hawker centre is around the corner, and your tenant will never leave. It’s a rental machine, not a lifestyle product.”
— Owner-investor, long-term holder
The resident and tenant sentiment at 76 Shenton converges on a single narrative: unparalleled transit access and CBD convenience compensate for modest facilities and compact units. Investors consistently report near-zero vacancy and strong tenant demand from the financial district workforce. Tenants praise the location and walkability while noting that the unit sizes and amenities are utilitarian rather than aspirational. The opening of Shenton Way MRT station on the Thomson-East Coast Line is frequently cited as a recent upgrade that further strengthened the location’s appeal. No resident describes 76 Shenton as a luxury experience — but every investor describes it as a reliable income generator.
Strengths & Weaknesses
- Exceptional 4.09% gross yield — among the highest in the Core Central Region; income comparable to suburban developments
- Triple MRT within 500m: Tanjong Pagar (340m), Prince Edward Road (390m), Shenton Way (440m) — three lines, unmatched connectivity
- Strong rental demand: 605 transactions from 202 units (~3.0 per unit); near-zero vacancy reported by landlords
- Investment score 75/100 — validated by yield, transit access, and consistent tenant demand
- PSF 24–37% below competing CCR condos: $1,961 vs One Bernam $2,587, Newport $3,127, Sky Everton $2,802
- 87 years remaining on lease — still comfortably within CPF and full LTV parameters for 15+ years
- Boutique 202-unit development: less crowded facilities, quieter environment, lower maintenance fees
- CBD walk-to-work for Shenton Way, Raffles Place, and Marina Bay financial district workers
- Greater Southern Waterfront master plan will enhance precinct liveability over next 10–20 years
- Hong Leong Group build quality — established developer with strong track record in Singapore
- Profitability score 29/100 — capital appreciation has been minimal; PSF oscillates ($1,897→$1,953→$1,989→$1,901→$2,027) rather than trending up
- Compact units (~673 sqft typical) — functional but tight; not suitable for families or buyers needing generous space
- Limited facilities: no tennis court, no resort-style amenities; 202-unit scale constrains what is feasible
- No schools within 1 km — Cantonment Primary at 1.39 km is outside priority enrollment radius; unsuitable for families
- En-bloc score 34/100 — collective sale not a realistic exit strategy
- Lease depreciation: 87 years today means ~72 years in 15 years, when financing constraints begin to bite
- Shenton Way streetscape is corporate rather than residential — evenings and weekends can feel quiet on the immediate block
- ShiokNest score 54/100 — reflects the tension between strong yield and weak capital growth
- Adjacent commercial towers may limit views and natural light for lower-floor units
- Walkability score 63/100 — adequate but not outstanding; daily grocery options are limited compared to integrated developments
Verdict
76 Shenton is a study in trade-offs — and the trade-off it has chosen is yield over everything else. The development does not try to be aspirational. It does not boast infinity pools, sky gardens, or celebrity architect credentials. Its 202 units occupy a compact tower on a street that most Singaporeans associate with office buildings rather than residential living. The facilities are adequate, the unit sizes are compact, and the building, while well-maintained, is not going to win any design awards. None of this matters to the buyer 76 Shenton is designed for.
What matters is this: 4.09% gross rental yield in the Core Central Region. 605 rental transactions from 202 units — an average of 3.0 rentals per unit proving that tenant demand is not theoretical but documented across years of transaction history. Three MRT stations within 500 metres serving three different lines — a connectivity density that very few residential addresses in Singapore can match. A PSF of $1,961 that sits 24% below One Bernam ($2,587), 37% below Newport Residences ($3,127 PSF, freehold), and 12% below Skysuites@Anson ($2,229). And an investment score of 75/100 that reflects the strength of the rental fundamentals.
The profitability score of 29/100 is the necessary counterpoint. Capital appreciation has been elusive: the PSF trend ($1,897 → $1,953 → $1,989 → $1,901 → $2,027) oscillates rather than climbs. With 87 years remaining on the lease, financing is still comfortable — no CPF restrictions, standard LTV limits — but the lease is depreciating at approximately 1 year for every year held, and in 15–20 years, the financing parameters will begin to tighten meaningfully. The en-bloc score of 34/100 suggests collective sale is not a realistic exit strategy.
The verdict is specific and deliberate: 76 Shenton is among the best pure-yield plays in Singapore’s Core Central Region. Buy it if you are a cash-flow investor who wants monthly rental income from a CBD address with world-class transit access, who is comfortable with a compact unit in a no-frills development, and who plans a 10–15 year holding period with an exit while the lease still has 70+ years remaining. Do not buy it for capital gains, do not buy it for family living, and do not buy it expecting resort-style amenities. It does one thing exceptionally well: generate rental income. That clarity of purpose is, paradoxically, its greatest strength.