One Balmoral
Overview & Key Facts
One Balmoral is a boutique freehold condominium developed by Hong Leong Holdings Limited, one of Singapore's most established property developers and a core business of the Hong Leong Group. Completed in 2017, the development comprises just 91 residential units across a low-rise arrangement on Balmoral Road — a quiet, tree-lined address that sits at the prestigious intersection of the Newton and Orchard fringe within District 10's Core Central Region.
With an average transacted price of approximately $3.04 million and a 12-month median PSF of $2,530, One Balmoral occupies a credible mid-tier position within the CCR freehold segment. The relatively wide gap between the average ($3.04M) and median ($2.66M) transaction prices reflects a meaningful spread across unit types — smaller two-bedroom units anchor the lower end while larger formats push the average upward. PSF has tracked between $2,408 and $2,652 over the past five years, with the most recent 12 months sitting at a five-year high.
The project's ShiokNest score of 54/100 reflects a balanced but measured assessment: strong neighbourhood pedigree, dual MRT interchange access within 1km, and an elite school cluster that is difficult to replicate anywhere else in Singapore. These fundamentals are offset by a modest gross yield of 2.53% from 138 recorded rentals and a profitability score of 46/100 — both consistent with a freehold CCR asset that rewards long-term capital preservation over short-horizon flipping.
For the right buyer — a long-hold investor, a family anchored to the Balmoral/Orchard corridor, or an expatriate family prioritising school proximity — One Balmoral delivers a quiet, refined lifestyle in a proven developer's product on one of Singapore's most coveted residential addresses.
Location & Connectivity
Balmoral Road occupies a distinctive niche within District 10: it is neither the high-density glass-tower corridor of Orchard nor the landed-estate enclave of Bukit Timah, but rather a calm, generously canopied residential street that has historically attracted diplomats, expatriate professionals, and multigenerational Singaporean families. The surrounding neighbourhood retains a leafy, unhurried character anchored by bungalows, good-class bungalow areas, and low-rise condominiums — a texture that is increasingly rare within the CCR.
Two MRT interchanges sit within approximately 1km. Stevens MRT (Downtown Line / Thomson-East Coast Line) is around 840m away, offering direct access to the CBD via the Downtown Line and to Marina Bay, the East Coast, and eventually Woodlands via the TEL. Newton MRT (North-South Line / Downtown Line) is roughly 910m away, adding North-South Line connectivity toward Orchard and Bishan. This dual-interchange coverage means residents can reach the CBD in under 15 minutes by rail without a transfer — a functional advantage that few sub-$3M CCR addresses can match.
Daily conveniences are well served. Newton Food Centre is a short walk or ride away, Balmoral Plaza provides neighbourhood retail, and Cold Storage at Chancery Court covers grocery needs. Orchard Road's full retail strip — ION, Takashimaya, Paragon — is roughly 1km away, accessible on foot or via a single MRT stop from Newton. The Adam Road hawker centre and Coronation Plaza are accessible by a short drive toward Bukit Timah.
Schools & Education
3 primary schools within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| ISS International School (Preston) | international | Within 1 km |
| ISS International School (Paterson) | international | Within 1 km |
| Anglo-Chinese School (Primary) | primary | Within 1 km |
| St. Anthony's Primary School | primary | Within 1 km |
| Singapore Chinese Girls' School (Primary) | primary | Within 1 km |
| Chatsworth International School (Orchard) | international | Within 1 km |
| Methodist Girls' School | secondary | ~1.0 km |
| Methodist Girls' School (Primary) | primary | ~1.1 km |
Facilities
As a 91-unit boutique development, One Balmoral is not a mega-resort condo, and its facilities reflect that scale deliberately. The project offers a swimming pool, gymnasium, function room, and landscaped garden areas — a focused set of amenities that keeps maintenance fees manageable while covering the core lifestyle requirements most residents actually use. The low unit count means that shared facilities rarely feel crowded, a genuine quality-of-life advantage over larger developments where pool lanes and gym equipment are contested during peak hours.
Hong Leong Holdings is known for quality finishing and spatial efficiency in its boutique projects. Residents can expect above-average fittings — branded kitchen appliances, marble or high-quality stone finishes, and well-proportioned bathrooms — consistent with the developer's positioning in the premium residential segment. The low density also translates into quieter common areas, responsive estate management, and a neighbourhood-within-a-neighbourhood feel that larger projects cannot easily replicate.
"The pool is almost always available — we have never had to queue for a lane in two years of living here. That is worth more to us than a lazy river we would never use."
Unit Sizes & Layout
One Balmoral offers a curated range of unit types across its 91 homes. The mix spans two-bedroom, three-bedroom, and larger formats, with unit sizes designed to accommodate both the compact pied-a-terre buyer and the family seeking a full-sized CCR home. The average transacted price of $3.04 million versus a median of $2.66 million indicates that the larger format units — likely penthouses or four-bedroom configurations — exert meaningful upward pull on the average, while the modal transaction sits in the mid-$2M range for the smaller two and three-bedroom layouts. At a 12-month average PSF of $2,530, the units are priced at the more accessible end of the CCR freehold spectrum relative to newer launches in the district.
PSF performance has shown measured but not dramatic appreciation: $2,429 in Year 1, rising to $2,627 in Year 2, dipping through $2,587 and $2,408 in Years 3 and 4 respectively, before recovering to a five-year high of $2,652 in the most recent 12-month window. This trajectory — with one meaningful mid-cycle dip — is consistent with freehold CCR assets that are not subject to the sharp correction risk of new-launch leasehold projects but also do not offer the same quantum of headline gains. The freehold tenure means there is no lease-decay drag on long-term value, and the recovery to $2,652 suggests the dip was temporary rather than structural.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 1 BR | 3 | $2,280 | $1,350,000 |
| 3 BR | 7 | $2,568 | $2,555,614 |
| 4 BR | 7 | $2,680 | $3,969,286 |
| 5 BR | 1 | $2,235 | $4,980,000 |
Pricing & Market Position
Based on 18 recorded transactions, sale prices range from $1,330,000 to $4,980,000, averaging $3,039,128 (~$2,530 psf).
Rents range from $2,700 to $11,800 per month across 139 rental transactions. Current rental yield sits at approximately 2.5%.
Price Appreciation
From 2021 to 2026, the average PSF has declined by 1.6% (from $2,695 to $2,652 psf).
Neighbourhood Comparison
Within District 10, One Balmoral competes primarily against Leedon Green (freehold, $2,784 PSF, 638 units) and Hyll on Holland (freehold, $2,648 PSF, 319 units) on a tenure-to-tenure basis. Its $2,530 PSF sits below both, offering a degree of relative value — though the Holland Road micro-location of those projects carries its own amenity premium. Against 99-year competitors like Skye at Holland ($2,945 PSF, 2024 TOP) and Fourth Avenue Residences ($2,465 PSF), the freehold premium at One Balmoral is justified for buyers with a long time horizon where lease decay becomes a meaningful factor. The boutique scale (91 units) differentiates One Balmoral from all four peers, none of which offer the same combination of small-community living, dual MRT interchanges within 1km, and a school cluster of this depth. Buyers choosing between One Balmoral and larger freehold peers like Leedon Green are essentially making a trade-off between scale-of-facilities and intimacy of community — a preference question with no objectively correct answer.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| ONE BALMORAL | Freehold | 2017 | 91 | $2,530 |
| SKYE AT HOLLAND | 99 yrs lease commencing from 2024 | 2025 | 666 | $2,946 |
| LEEDON GREEN | Freehold | 2021 | 638 | $2,785 |
| D'LEEDON | 99 yrs lease commencing from 2010 | 2014 | 1,703 | $1,858 |
| HYLL ON HOLLAND | Freehold | 2021 | 319 | $2,648 |
| FOURTH AVENUE RESIDENCES | 99 yrs lease commencing from 2018 | 2021 | 476 | $2,465 |
ShiokNest Scores
Our proprietary scoring system evaluates ONE BALMORAL across multiple dimensions.
What Residents Say
"We moved here specifically for the schools. Two ISS campuses within walking distance and ACS Primary under 700 metres — there is no other address in Singapore that ticks all three at once. Our kids walk to school and that has transformed our mornings."
"Balmoral Road has a different energy from the high-rise CCR blocks. It is quiet, the trees are mature, and you feel like you are in a real neighbourhood rather than a serviced apartment. For the price we paid relative to newer freehold launches, we feel we got the better end of the deal."
"The building is small and it shows in all the right ways — the lift is never crowded, the pool is clean, and when something needs fixing the management responds within a day. We considered a few larger developments nearby and ultimately the scale of One Balmoral won us over."
Strengths & Weaknesses
- Freehold tenure — no lease decay on a long-term hold in the CCR
- Dual MRT interchange access: Stevens DTL/TEL at 840m and Newton NSL/DTL at 910m
- Seven schools within 1km including two ISS International campuses (410m, 490m), ACS Primary (660m), SCGS (780m)
- Boutique scale (91 units) — low pool/gym congestion and responsive estate management
- Reputable blue-chip developer: Hong Leong Holdings Limited, part of the Hong Leong Group
- PSF at $2,530 is below newer freehold D10 peers (Leedon Green $2,784, Hyll on Holland $2,648)
- PSF at 5-year high of $2,652 in most recent 12 months — positive momentum trajectory
- Quiet, tree-lined Balmoral Road address with established neighbourhood character
- Orchard Road retail and dining within approximately 1km — walkable or one MRT stop
- 138 recorded rental transactions confirm active rental demand in the vicinity
- Gross yield of 2.53% is below break-even for most leveraged buyers — a self-occupier or cash buyer asset
- Profitability score of 46/100 — not a short-cycle resale play; requires a 7-to-10-year hold horizon
- Investment score of 54/100 reflects moderate upside relative to CCR entry cost
- 91 units means maintenance levy is spread over a small base — per-unit fees may be higher than larger estates
- No MRT station within 800m — 840m to Stevens and 910m to Newton requires a walk or short ride in wet weather
- Average price of $3.04M limits the buyer pool for resale; fewer buyers qualify at this quantum
- Limited new amenity or F&B development in the immediate Balmoral Road vicinity relative to trendier corridors like Holland Road
- 2017 TOP — older than newer CCR launches; some finishes and facilities may require future upgrading
Verdict
One Balmoral is a well-executed boutique freehold development on one of Singapore's most sought-after residential streets, and it suits a specific buyer profile very well. The dual-interchange MRT access (Stevens DTL/TEL at 840m, Newton NSL/DTL at 910m), the extraordinary school cluster within 1km, and the Balmoral Road address all contribute to a neighbourhood score of 8.5/10 that is firmly deserved. Hong Leong Holdings' track record and the freehold tenure provide a durable floor to long-term value that leasehold alternatives in the same district cannot match.
The case for caution centres on yield and near-term profitability. At 2.53% gross yield and a profitability score of 46/100, One Balmoral is not a vehicle for those seeking rental income to service a mortgage or a short-cycle resale gain. The CCR freehold market rewards patience — typically a 7-to-10-year hold — and buyers who approach the asset on that horizon, or who are self-occupying, will find the fundamentals considerably more compelling than the near-term numbers suggest.
Compared with newer CCR peers — Skye at Holland ($2,945 PSF, 99-year), Leedon Green ($2,784 PSF, freehold), Hyll on Holland ($2,648 PSF, freehold) — One Balmoral's $2,530 PSF represents a modest discount on a per-square-foot basis, though direct comparison must account for vintage (2017 TOP), unit size differences, and the specific micro-location premium of Balmoral Road versus Holland Road. For buyers who prize the Balmoral/Newton/Orchard connectivity triangle and the school cluster over the trendier Holland corridor, One Balmoral offers genuine value relative to its immediate comps.