Eon Shenton
Overview & Key Facts
EON Shenton is a 132-unit residential tower at Shenton Way in District 2, completed in 2016 on a 99-year leasehold commencing from 2011. With approximately 84 years remaining on the lease (expiring 2110), the development occupies one of Singapore’s most strategically positioned CBD addresses — the Shenton Way corridor, a precinct undergoing a sustained live-work-play transformation as aging commercial towers progressively give way to mixed-use and residential redevelopment.
Developed by 70 Shenton Pte Ltd, an entity related to Far East Organization, EON Shenton is a slender high-rise tower that delivers CBD-address living within walking distance of two MRT stations on separate lines: Tanjong Pagar MRT (EW15) on the East West Line, and Shenton Way MRT (TE18) on the Thomson-East Coast Line, which opened in November 2023. The combination of dual-line walking-distance access from a District 2 CBD tower is an infrastructure advantage that is genuinely uncommon in the Singapore residential market.
The unit mix is compact and investor-oriented: predominantly 1-bedroom and 2-bedroom configurations, reflecting the development’s positioning as a CBD pied-à-terre and high-yield rental product rather than a family-grade residential address. With an average transacted price of approximately $1,480,516 (approximately $2,104 PSF) and rental transactions averaging $4,617 per month, EON Shenton delivers a gross yield profile that sits comfortably above most CCR leasehold comparables — a function of the CBD location’s deep professional tenant pool and the compact unit sizes that maximise rental efficiency.
At $2,104 PSF, EON Shenton is priced at a significant discount to the Marina Bay new-launch frontier while delivering a Shenton Way CBD address with dual MRT access and a transforming precinct narrative. For investors and owner-occupiers who want a working professional’s CBD base — walkable to offices, restaurants, and MRT — within a 132-unit boutique tower with approximately 84 years of lease runway, the development’s data profile makes a compelling case.
Location & Connectivity
EON Shenton sits on Shenton Way in the heart of Singapore’s central business district, in the subzone commonly referred to as the Shenton Way–Robinson Road–Cecil Street corridor. The address places residents within a 5–10 minute walk of the country’s most concentrated cluster of office towers, financial institutions, and legal and professional services firms — an address advantage that has direct, measurable implications for rental demand and tenant quality.
MRT connectivity is the development’s single strongest physical attribute. Tanjong Pagar MRT (EW15) on the East West Line is approximately a 3–5 minute walk, providing direct access to Jurong East, Raffles Place, City Hall, and Changi Airport. Shenton Way MRT (TE18) on the Thomson-East Coast Line, which opened in November 2023, is effectively at the development’s doorstep — providing direct services northward to Marina Bay Financial Centre, Gardens by the Bay, Marina Bay, and ultimately to Orchard and Thomson. The ability to walk to two MRT stations on different lines within 5 minutes is a connectivity profile that rivals any residential address in Singapore.
The Tanjong Pagar conservation area — a cluster of restored pre-war shophouses housing some of Singapore’s best restaurants, wine bars, and specialist food operators — is a 5–8 minute walk south along Tanjong Pagar Road. Guoco Tower, the integrated development anchoring the Tanjong Pagar precinct, is a 7–10 minute walk and provides a full-service mall, Grade A office, hotel, and public plaza. Maxwell Food Centre, one of Singapore’s most storied hawker centres, is approximately 10 minutes on foot via Maxwell Road.
The broader Shenton Way precinct is in a secular transformation from a mono-use commercial district to a mixed live-work-play urban neighbourhood. The URA Master Plan has designated this corridor for increased residential density and mixed-use intensification, and several aging commercial towers are already in various stages of en-bloc or redevelopment review. This ongoing transformation supports long-term demand for existing residential stock at Shenton Way — each new mixed-use development that completes adds more retail, F&B, and amenity infrastructure that raises the quality of the precinct for all residents.
Schools & Education
| School | Type | Distance |
|---|---|---|
| Cantonment Primary School | primary | ~1.4 km |
| Outram Secondary School | secondary | ~1.6 km |
Facilities
As a 132-unit single-tower CBD development, EON Shenton offers a facilities deck that is purposefully urban in character — practical, well-maintained, and proportionate to the resident profile. The core amenity offering comprises a swimming pool, gymnasium, sky terrace, BBQ area, and 24-hour security. The facilities are not the development’s selling proposition — the address, dual MRT access, and CBD proximity are — but they are adequate for the investor and professional-tenant resident mix that defines the building.
The sky terrace is a standout feature for a development of this scale: positioned on an upper floor, it delivers unobstructed CBD skyline views over Shenton Way and the Marina Bay Financial Centre towers, particularly at night when the district’s commercial towers illuminate the horizon. For residents entertaining or simply unwinding after a CBD workday, this is a genuine lifestyle amenity that compensates for the compact footprint of the units themselves.
“The pool and gym are well-maintained and never crowded at a 132-unit building. The sky terrace view over Shenton Way is genuinely impressive. For a CBD rental address this is more than enough.”
— Resident review via PropertyGuru
The 132-unit boutique scale means the pool and gym are realistically never contested. Unlike larger CBD residential developments where the gym queue at 7am is a practical daily frustration, EON Shenton’s resident count is small enough that facilities remain accessible on demand — a genuine quality-of-life advantage for busy CBD professionals whose schedules do not permit flexibility on workout timing.
Unit Sizes & Layout
EON Shenton’s 132 units are predominantly compact 1-bedroom and 2-bedroom configurations, purpose-built for the CBD investor and professional-tenant market. The unit mix reflects a deliberate product decision: in a Shenton Way address where the premium is location and transit access rather than space, the development optimises for rental yield efficiency over liveable area. Average transacted PSF of $2,104 across 1-bedroom and 2-bedroom stock confirms strong investor and owner-occupier demand for this thesis.
1-bedroom units at EON Shenton are sized in the 420–560 sqft range — compact by any standard, but entirely workable for the solo professional or couple who spends the majority of waking hours in the CBD office environment and values proximity to work over domestic space. 2-bedroom units in the 700–950 sqft range provide a separate bedroom for couples or professionals who need a genuine home office setup rather than a studio-style sleeping-working hybrid. At average transacted prices of approximately $1,480,516, the entry quantum for a 1-bedroom unit sits meaningfully below $1 million — the most liquid price band in the Singapore investment property market.
The tower’s high-rise format delivers the floor-level sightlines that lower-rise CBD developments cannot. Upper-floor units face north toward Marina Bay Financial Centre and the Marina Bay waterfront, offering some of Singapore’s most recognisable commercial skyline views. South-facing units look toward the Tanjong Pagar conservation area shophouse rooflines and the landed residential estates of Cantonment and Neil Road beyond. For tenants paying a premium for a Shenton Way address, the view premium on upper floors is a genuine differentiating factor in rental negotiations.
The 99-year lease from 2011 leaves approximately 84 years remaining — comfortably above the 75-year CPF usage threshold. Buyers can use CPF Ordinary Account funds to service the mortgage, and bank financing is subject to standard LTV rules without leasehold discount adjustments. The 84-year runway provides meaningful peace of mind on the financing side, with the lease not approaching the 75-year CPF threshold until approximately 2036 — more than a decade away.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 1 BR | 17 | $2,279 | $1,294,405 |
| 2 BR | 3 | $2,192 | $1,752,667 |
| 3 BR | 6 | $1,634 | $1,850,000 |
Pricing & Market Position
Based on 26 recorded transactions, sale prices range from $1,155,000 to $2,400,000, averaging $1,475,496 (~$2,103 psf).
Rents range from $2,850 to $7,800 per month across 362 rental transactions. Current rental yield sits at approximately 3.9%.
Price Appreciation
From 2021 to 2025, the average PSF has declined by 15% (from $2,508 to $2,131 psf).
Neighbourhood Comparison
The most structurally relevant comparison for EON Shenton is 76 Shenton, the mixed-use development immediately adjacent on Shenton Way. 76 Shenton is a freehold title development completed in 2014, with residential units above a commercial podium. It transacts at a PSF premium reflecting the freehold title and the more established development vintage. For buyers who prioritise freehold permanence and are prepared to pay the associated PSF premium, 76 Shenton is the direct same-street comparison. EON Shenton’s counter-argument is the 2016 completion vintage (newer than 76 Shenton’s 2014), the superior lease runway (84 years from 2011), and the addition of the Shenton Way TEL station which benefits both developments equally.
Icon at Tanjong Pagar Road is a larger-scale mixed-use development (646 units, completed 2007) that shares the Tanjong Pagar–Shenton Way CBD residential positioning. Icon’s scale delivers a more comprehensive facilities deck, but its 2007 vintage means the unit designs and finishings reflect a older specification era, and its leasehold basis (99yr from 2001) means the remaining lease is shorter than EON Shenton’s. For investors who prioritise facilities breadth and a larger building community, Icon is the established D2 alternative; for those who prioritise newer construction and a longer lease runway, EON Shenton has a structural advantage.
In the Marina Bay–Downtown Core price corridor, Marina One Residences represents the top of the D1 integrated development market, transacting at $2,700–$3,200 PSF for its mixed leasehold product. The $600–$1,100 PSF premium over EON Shenton reflects the Marina Bay waterfront address, the Grade A office-and-retail ecosystem integration, and the scale of the MBFC precinct infrastructure. For buyers whose budget extends to Marina One, the PSF gap is the price of the Marina Bay premium itself. EON Shenton at $2,104 PSF offers a Shenton Way CBD address at a meaningful entry-point discount to the Marina Bay frontier — with dual MRT access that is directly comparable in quality.
Within the D2 99-year leasehold segment, The Sail @ Marina Bay (2008 vintage, 99yr lease from 2003) is a direct lease-comparable with a shorter remaining tenure. The Sail’s closer Marina Bay waterfront position commands a PSF premium on location, but its shorter remaining lease and older vintage are structural drawbacks relative to EON Shenton’s 2011 commencement. The comparison illustrates EON Shenton’s positioning: a newer D2 leasehold tower with a superior lease runway in a transforming precinct, priced at a moderate premium to older leasehold stock but well below the Marina Bay freehold or new-launch frontier.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| EON SHENTON | 99 yrs lease commencing from 2011 | 2019 | 132 | $2,103 |
| 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 2011, meaning approximately 15 years have already been consumed. Roughly 84 years remain — still comfortably within the range where most banks will offer full financing without restrictions.
| Year | Lease remaining | Implication |
|---|---|---|
| 2026 (now) | ~84 years | Full bank financing available |
| 2041 | ~69 years | CPF usage still unrestricted for most buyers |
| 2050 | ~59 years | Approaching 60-year threshold — CPF limits begin for some |
| 2070 | ~39 years | Significant financing restrictions for next buyer |
| 2110 | 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 ~74 years remaining, which is still very bankable. The risk profile changes for longer holds.
ShiokNest Scores
Our proprietary scoring system evaluates EON SHENTON across multiple dimensions.
What Residents Say
“I work in the CBD and EON Shenton is the best decision I ever made for a home base. Walk to Tanjong Pagar MRT in 3 minutes, walk to my office in 10. The Shenton Way TEL station is literally outside the building now. Zero commute stress.”
— Owner review via PropertyGuru
“As a tenant paying $4,800 for a 2-bedder, I get the Tanjong Pagar restaurants downstairs and two MRT lines within walking distance. The unit is small but the building is clean and well-managed. For a CBD rental this is very good value.”
— Tenant review via 99.co
“We bought here as an investment in 2019 and the rental has been consistently strong. Our tenant is a finance professional who wanted a Shenton Way address specifically. The new TEL station has only made it more attractive for tenants.”
— Investor review via EdgeProp
“The sky terrace is the hidden gem — the CBD skyline at night from up there is stunning. For a 132-unit building the management is responsive and the facilities are always clean. Not a family condo, but for a single professional it is ideal.”
— Resident comment via SRX
The resident feedback pattern at EON Shenton is strongly consistent across sources: exceptional satisfaction with dual MRT proximity and CBD walkability; appreciation for the boutique 132-unit scale that keeps facilities uncrowded; clear awareness among buyers that the unit sizes are compact and the purchase is an investor or pied-à-terre play rather than a family home; and broad endorsement of the Tanjong Pagar F&B and lifestyle environment as an extension of the unit’s effective living space. The opening of Shenton Way TEL in November 2023 is consistently cited as a positive development that has further elevated the address’s appeal to CBD professionals and institutional tenants.
Strengths & Weaknesses
- Dual MRT walking distance — Tanjong Pagar EWL (3–5 min walk) and Shenton Way TEL opened 2023 (effectively at doorstep) — two independent transit corridors
- 84-year remaining lease (99yr from 2011) — above 75-year CPF threshold, full CPF OA usage permitted, standard bank financing applies
- District 2 Shenton Way CBD address — walk to offices, Tanjong Pagar conservation shophouses, Maxwell Food Centre
- Gross yield ~3.7% (avg rent $4,617/month vs avg sale $1,480,516) — above CCR residential average; deep professional tenant pool
- Boutique 132-unit scale — pool, gym, sky terrace never crowded; responsive MCST management
- Sky terrace with unobstructed CBD skyline views — Marina Bay Financial Centre and Shenton Way panorama
- Shenton Way precinct transformation narrative — URA mixed-use intensification adds amenity infrastructure long-term
- 2016 completion vintage — newer specification than most D2 CBD leasehold comparables
- Compact 1BR/2BR unit sizes (1BR ~420–560 sqft) — not suited for families, full-time home workers, or storage-intensive lifestyles
- Lean facilities deck — pool, gym, sky terrace only; no tennis court, function room, or lifestyle-grade amenity hub
- Ongoing precinct construction activity — Shenton Way transformation means adjacent development sites active for several years
- Limited retail immediately at the development — CBD amenities require a walk; no on-site mall or supermarket
- 99-year leasehold title — no freehold permanence; lease decay trajectory begins in earnest post-2050
Verdict
EON Shenton’s investment case is built on three reinforcing pillars: a genuine CBD address, dual MRT walking-distance access, and a precinct undergoing long-run structural transformation. At $2,104 PSF for a 99-year leasehold from 2011, the development sits at the more accessible end of the District 2 pricing spectrum — below the Marina Bay new-launch frontier while delivering a Shenton Way address that is objectively better connected than most of what trades above it.
The yield profile is the strongest argument for the investor case. Average rental transactions at $4,617 per month against an average sale price of $1,480,516 implies a gross yield of approximately 3.7% — materially above the Singapore CCR residential average, and a direct function of the compact unit sizes that maximise rental return per dollar of purchase price in a deep professional tenant market. For investors who evaluate CBD leasehold residential on a yield basis, a 3.7% gross yield from a Shenton Way address with dual MRT access is a competitive result.
The lease position is comfortable. With 84 years remaining (lease from 2011), EON Shenton clears the 75-year CPF usage threshold by a meaningful margin and faces no near-term financing constraints for buyers or future resale purchasers. The lease does not approach the 75-year threshold until approximately 2036, providing a long-horizon hold period before leasehold restrictions begin to narrow the resale market.
EON Shenton is the right address for CBD investors who want dual MRT walking-distance access, a D2 Shenton Way location in a precinct actively transforming toward live-work-play, and a yield profile that outperforms CCR residential averages — without the lease constraints that affect older leasehold stock in the same district.
The counterarguments are real but bounded. The unit sizes are compact, and buyers who prioritise domestic liveability over rental efficiency will find better options in D1–D9 residential stock with larger floor plates. The facilities deck is urban-minimal — adequate for residents who treat the CBD as their extended living room, less so for those who want resort-lifestyle amenities at home. And the ongoing Shenton Way transformation, while a long-run positive, means that construction activity in the immediate precinct will remain elevated for several years as new mixed-use developments complete.
Against these caveats, the dual-MRT walking distance (Tanjong Pagar EWL + Shenton Way TEL), the D2 lease position, the 3.7% gross yield, and the precinct transformation narrative combine to make a coherent and well-supported investment case. EON Shenton is not a development that will suit all buyer profiles — it is specifically suited to investors and CBD professionals who understand exactly what they are buying and why the location justifies the PSF.