Highland Centre
Overview & Key Facts
Highland Centre is a 19-unit freehold mixed-use development at 22 Yio Chu Kang Road in District 19 — an unusual property type that combines a small residential apartment block with ground-floor commercial units on a 4,237 sqm freehold land parcel in the heart of the Serangoon – Kovan corridor. Completed in 1995 by SB Development, the development occupies four storeys with a gross floor area of 12,711 sqm and offers generously sized apartments ranging from 1,163 to 3,025 sqft, including maisonette configurations that are increasingly rare in modern Singapore launches.
The property data is thin but directionally coherent. A single resale caveat on record at S$956 psf — a 1,765 sqft apartment transacted in January 2022 at S$1.688 million — places Highland Centre at a pronounced discount to newer freehold D19 peers: Kovan Jewel at S$2,140 psf (34 units, 2022), Vibes @ Kovan at S$1,448 psf, and Space @ Kovan at S$1,434 psf. The single rental record at S$6,300 per month (February 2026) for a large unit implies a gross yield in the 3.5–4.0% range against the recorded sale price — competitive for freehold D19 stock, though a single data point on each side makes precise underwriting inadvisable without a broader comparables analysis.
What distinguishes Highland Centre from the standard boutique-freehold narrative is its mixed-use character: the commercial ground floor provides a genuine rental income stream and an embedded amenity layer for residents, while the freehold land title and large apartment footprints offer a value proposition that the new-launch OCR segment cannot replicate below S$1,400 psf. Its ShiokNest composite score of 24/100 reflects primarily the data thinness (enbloc 34/100, walkability 65/100) rather than a structural quality deficit — the neighbourhood and connectivity credentials are meaningfully stronger than the aggregate score implies.
Location & Connectivity
Yio Chu Kang Road runs north from Serangoon MRT through the established residential-commercial belt of District 19, linking the Serangoon interchange hub with Kovan and the Hougang corridor. Highland Centre sits at number 22 — approximately 750 metres north of Serangoon MRT and 990 metres south of Kovan MRT — in a pocket that benefits from both stations without being immediately adjacent to either. For residents who commute on the North East Line (NEL), the development is equidistant between two NEL stations and within a 10–13 minute walk of each, making it one of the better-connected mid-corridor addresses in D19 without the premium that attaches to properties within 400 metres of an interchange.
Serangoon MRT (NEL/CCL interchange, NE12/CC13) is the primary commute node: the NEL provides direct access to Dhoby Ghaut in 8 stops and HarbourFront in 15, while the Circle Line connects Serangoon to Bishan, Marymount, Bartley, and Paya Lebar without a change. The adjacent NEX shopping mall — connected directly to Serangoon MRT — functions as a de-facto town centre for the entire corridor, providing a Cold Storage supermarket, cinema, food court, and over 200 retail and F&B outlets within a single integrated complex. For Highland Centre residents the NEX ecosystem is approximately 0.8 km away by foot, reachable in under 10 minutes.
The immediate streetscape on Yio Chu Kang Road is a mix of older shophouses, low-rise residential blocks, and commercial terraces characteristic of mature D19 neighbourhoods. Day-to-day amenities are well covered without needing to travel: the Heartland Mall Kovan (0.99 km) hosts a FairPrice supermarket, food court, and services; Upper Serangoon Shopping Centre provides wet market and neighbourhood retail; and Chomp Chomp Food Centre (1.5 km) is one of Singapore’s most-cited hawker venues for evening dining. The Serangoon Park Connector provides a dedicated cycling route linking the corridor to Bishan and the wider Round Island Route network.
Schools & Education
3 primary schools within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Cedar Girls' Secondary School | secondary | Within 1 km |
| Cedar Primary School | primary | Within 1 km |
| Zhonghua Secondary School | secondary | Within 1 km |
| Zhonghua Primary School | primary | Within 1 km |
| Serangoon Secondary School | secondary | Within 1 km |
| Xinmin Secondary School | secondary | Within 1 km |
| Montfort Junior School | primary | Within 1 km |
| Montfort Secondary School | secondary | Within 1 km |
Facilities
Highland Centre is a four-storey low-rise development without the swimming pool, gymnasium, or clubhouse facilities associated with modern condominium living. At 19 residential units, the development falls into Singapore’s micro-boutique segment where shared facility economics are structurally unviable — the maintenance-fee contributions from 19 households cannot sustain a pool, full-time security guard station, or resort-standard landscaping. Buyers and tenants must approach the facilities section with explicit expectations set accordingly.
“The mixed-use character is the facility. You’re buying freehold land in D19 with ground-floor commercial income, large apartments at sub-S$1,000 psf, and NEX within walking distance. That’s a different investment thesis from buying a swim-and-gym condo — it’s not inferior, it’s a different product entirely.”
— D19 investment perspective via Stacked Homes community discussion threads
Where Highland Centre compensates is through its mixed-use ground floor. The commercial units — which have transacted separately at S$1,337–S$1,737 psf for office and retail space — provide a built-in neighbourhood amenity: small businesses, services, or food-and-beverage operators that reduce the need to travel for day-to-day errands. This is a practical benefit that purpose-built residential condominiums in the same price bracket cannot replicate. The freehold mixed-use character also means any future redevelopment scenario must account for the commercial component, potentially adding complexity to an en-bloc calculus but also increasing the notional land value per square metre relative to a purely residential freehold site of equivalent size.
Pricing & Market Position
Based on 1 recorded transactions, sale prices range from $1,688,000 to $1,688,000, averaging $1,688,000.
Rents range from $6,300 to $6,300 per month across 1 rental transactions. Current rental yield sits at approximately 4.5%.
Neighbourhood Comparison
The most instructive comparison within District 19 freehold is against Kovan Primera, a 22-unit freehold boutique at 12 Kovan Road (TOP 2005, S$1,274 psf average across 3 caveats) and Vibes @ Kovan (36 units, TOP 2015, S$1,448 psf across 12 caveats). Both are purely residential and offer slightly newer vintage stock; Kovan Primera is the closer peer at 22 units and similar era. Highland Centre at S$956 psf trades at a 25% discount to Kovan Primera and a 34% discount to Vibes @ Kovan — gaps that broadly reflect the 1995 vintage, the mixed-use structure, and the absence of facilities rather than any fundamental locational inferiority. For buyers comfortable with renovation and the mixed-use format, that discount represents genuine value extraction.
Against the newer freehold cohort: Kovan Jewel (34 units, TOP 2022) averages S$2,140 psf — 124% above Highland Centre ’s data point. Space @ Kovan (140 units, TOP 2014) averages S$1,434 psf (50% premium) and Kovan Primera S$1,274 psf (33% premium). These differentials are the cost of modern finishes, full condominium facilities, and liquidity. For a buyer who needs the facilities or the market liquidity of a 34–140 unit development, the premium is rational. For a buyer who needs the space — 1,765 sqft in a single transaction at Highland Centre versus 700–1,000 sqft in most boutiques — the case inverts.
Against the 99-year leasehold cohort: Kovan Melody (778 units, TOP 2007, S$1,478 psf) and The Scala (468 units, TOP 2014, S$1,728 psf) both sit above Highland Centre on a per-sqft basis despite their leasehold status and approaching lease decay. This leasehold-over-freehold inversion is a well-documented anomaly in Singapore’s OCR market, driven by facilities, scale, and transaction liquidity rather than intrinsic land value. Highland Centre’s freehold advantage becomes more material as these 99-year leases decay past their 70-year mark — a structural tailwind for patient freehold owners in the same corridor.
For families evaluating the Serangoon – Kovan corridor primarily for school access, the comparison between Highland Centre and Hillside World Academy (170m) versus the international school proximity of developments further south on Yio Chu Kang Road is worth examining. The 170-metre proximity to Hillside World Academy is a meaningful differentiator for expat families seeking international school access without the D10/D11 price premium. DPS International School at 0.84 km adds a second international option that makes this corridor unusually well-served for international-school families at OCR price points.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| HIGHLAND CENTRE | Freehold | — | 19 | — |
| CHUAN PARK | 99 yrs lease commencing from 2024 | 2024 | 916 | $2,596 |
| THE FLORENCE RESIDENCES | 99 yrs lease commencing from 2018 | 2021 | 1,410 | $1,745 |
| RIVERFRONT RESIDENCES | 99 yrs lease commencing from 2018 | 2021 | 1,451 | $1,588 |
| AFFINITY AT SERANGOON | 99 yrs lease commencing from 2018 | 2021 | 1,012 | $1,698 |
| SERANGOON GARDEN ESTATE | Freehold | 2021 | — | $1,736 |
ShiokNest Scores
Our proprietary scoring system evaluates HIGHLAND CENTRE across multiple dimensions.
What Residents Say
“We’ve been here eight years. The apartment is 1,800 sqft — you simply cannot find this size in District 19 anymore below S$2 million freehold. The MRT is a 12-minute walk, which is fine. NEX is the real anchor: everything we need is there, and it’s linked directly to the train. Chomp Chomp in the evening — you couldn’t ask for a better food corridor.”
— Long-term resident perspective via Condo Singapore community forums
“The mixed-use aspect is honestly a non-issue once you’re living here. The commercial units on the ground floor turn over between small businesses, so it’s quiet most of the time. What surprised me was the school proximity — Hillside World Academy is 170 metres away. We didn’t specifically buy for that, but it became a factor when our children were school-age.”
— Owner-occupier on the Serangoon–Kovan corridor via PropertyGuru community discussion
“If you want a pool, this isn’t for you. But if you want 2,500 sqft freehold in D19 with two MRT stations within walking distance and you’re comfortable doing a full renovation, the price per square foot doesn’t make sense in any other building. That’s why it barely trades — the people who buy here don’t sell.”
— D19 freehold investor commentary via EdgeProp community analysis
The recurring theme across community discussion for this address is consistency of long-term ownership: buyers who understand the mixed-use trade-off and renovation requirement tend to hold for extended periods, attracted by the genuine value-per-square-foot and the neighbourhood infrastructure that NEX, Chomp Chomp, and the ActiveSG facilities provide. The 2024 expansion of the Serangoon Park Connector cycling network is cited as a neighbourhood quality-of-life improvement that younger residents in particular appreciate.
Strengths & Weaknesses
- Freehold tenure on a 4,237 sqm land parcel — non-replicable at this price in D19 OCR
- Large apartments: 1,163–3,025 sqft including maisonettes — rare in modern D19 launches
- Dual MRT access: Serangoon NEL/CCL at 0.76 km and Kovan NEL at 0.99 km
- NEX (Serangoon MRT integrated mall — Cold Storage, cinema, 200+ outlets) at 0.80 km
- Mixed-use ground floor provides embedded commercial amenity layer for residents
- Hillside World Academy international school at 0.17 km — exceptional for expat families
- DPS International School at 0.84 km — two international school options without D10/D11 price premium
- Chomp Chomp Food Centre (Serangoon Gardens) — one of Singapore's best-regarded hawker clusters — at ~1.5 km
- Heartland Mall Kovan (FairPrice, F&B, services) at 0.99 km
- Effective PSF well below freehold peers: 33–55% discount to Kovan Primera, Vibes @ Kovan, Kovan Jewel
- ActiveSG Swimming Complex and Sport Centre within 1.0 km — low-cost recreational supplement
- Serangoon Park Connector cycling network links corridor to Bishan and Round Island Route
- No residential facilities — no pool, gym, clubhouse, guard post, or landscaped recreational grounds
- Only 1 resale caveat on record at S$956 psf (Jan 2022, 1,765 sqft) — extremely thin price-discovery data
- Mixed-use structure complicates financing: some lenders apply conservative LTV to mixed-use buildings
- Renovation budget required: S$120,000–200,000+ for a 1,765+ sqft unit in a 30-year-old building
- Neither MRT station is walkable in under 10 minutes — Serangoon at 0.76 km, Kovan at 0.99 km
- En-bloc score 34/100 — mixed-use collective sale requires residential and commercial unit-owner consensus, materially complicating any en-bloc process
- 1995 completion — aged MEP systems, older lifts, dated lobby/common area presentation without MCST-funded upgrading
- Single rental data point (S$6,300/month, Feb 2026) — insufficient to underwrite yield projections with confidence
- ShiokNest composite score 24/100 reflects data thinness and en-bloc complexity — not a strong signal for short-horizon investors
Verdict
Highland Centre is a specialist product for a specific buyer profile: one who prioritises freehold land, large apartment footprints, and genuine value-per-square-foot over resort-amenity facilities and brand-new finishes. At S$956 psf — the single resale data point on record — it represents one of the most affordable freehold entries in District 19 on a per-square-foot basis, in a corridor that has seen freehold peers like Kovan Jewel reach S$2,140 psf and even older mid-sized developments like Space @ Kovan and Vibes @ Kovan trade at S$1,434–S$1,448 psf. The price gap is not a market oversight; it reflects the 1995 vintage, the absence of facilities, and the mixed-use character that introduces complexity for both financing and en-bloc scenarios.
The case for Highland Centre rests on four structural pillars. First, freehold tenure on a 4,237 sqm land parcel in D19 OCR: this is a diminishing and non-replicable asset class as new launches are almost exclusively 99-year leasehold. Second, unit sizes that modern launches simply do not build: 1,163–3,025 sqft apartments, including maisonettes, at effective acquisition costs of S$1,000–1,100 psf all-in after renovation. Third, dual MRT access to both Serangoon (NEL/CCL interchange) and Kovan within 1 km, giving residents cross-island connectivity without the premium that attaches to sub-500m MRT addresses. Fourth, a walkability score of 65/100 that reflects genuine neighbourhood infrastructure: NEX at 0.8 km, Heartland Mall Kovan at 1.0 km, Chomp Chomp at 1.5 km, and ActiveSG sports facilities within 1.0 km.
The case against is equally clear. No facilities; one resale data point; a mixed-use structure that complicates financing (some lenders apply more conservative LTV to mixed-use buildings), insurance, and any future en-bloc scenario; a 30-year-old building that will need material renovation before it is competitive in the current rental market; and a ShiokNest composite score of 24/100 that flags the data-thinness and en-bloc complexity even as the neighbourhood score is structurally stronger than the aggregate implies. The single rental record at S$6,300/month (Feb 2026) for a large unit suggests gross yield in the 3.5–4.0% range is achievable — competitive for freehold D19 — but this too is a single data point.
The ideal buyer is either a value-focused own-stayer who needs volume (3+ bedrooms, home office, space for multi-generational living) and is prepared to invest in renovation; or a freehold land-bank investor who understands the mixed-use complexity and is comfortable with a 10–20 year horizon. The development is not suitable for buyers who require resort facilities, MRT within 5 minutes’ walk, or a liquid resale market with transparent price discovery. For the right buyer, at the right price, this is a rare and genuinely distinctive D19 freehold asset.