One Bernam

Overview & Key Facts

One Bernam is a 364-unit mixed-use residential and commercial development at Bernam Street in District 2, completed in 2024 on a 99-year leasehold from 2019. With approximately 92 years remaining on the lease, the development occupies one of Singapore’s most actively transforming urban precincts — the Tanjong Pagar–CBD corridor, a district that has evolved from a colonial-era port and warehousing quarter into the city-state’s most dynamic inner-city lifestyle and business address.

Developed by MCC Land (Singapore) Pte Ltd, a subsidiary of the Beijing-headquartered state-owned China Metallurgical Corporation (MCC Group), One Bernam represents the company’s continued commitment to Singapore’s premium residential market following a well-regarded track record that includes M Suites, Canberra Residences, and Parc Botannia. The mixed-use ground-floor commercial podium, hotel-grade lobby, and curated resident amenity deck confirm the developer’s intent to deliver a product positioned at the lifestyle-forward CBD investor and urban professional segment rather than the conventional condominium market.

The 364 units are distributed across a single high-rise tower spanning 1-, 2-, and 3-bedroom configurations — compact by historical CBD standards, but sized for the contemporary urban buyer who prioritises address and access over floor area. With an average transacted price of $2,133,942 (approximately $2,608 PSF) and an average rental of $5,224 per month, One Bernam’s data profile confirms both the premium commanded by its near-new CBD position and the robust tenant demand generated by its proximity to Singapore’s Central Business District employment core.

At $2,608 PSF, One Bernam sits firmly in the upper tier of District 2 leasehold pricing — a premium that prices in the new-build vintage, the mixed-use positioning, and the transforming Tanjong Pagar precinct premium. The implied gross yield of approximately 2.94% (based on $5,224/month rent against a $2,133,942 average price) is competitive for a new CBD leasehold development, where investor appeal centres on capital appreciation from precinct transformation and the perennial strength of CBD rental demand rather than yield maximisation.

Location & Connectivity

One Bernam sits at Bernam Street, a short road running off Tanjong Pagar Road in the heart of Singapore’s Central Business District. The address places residents in one of the city-state’s most geographically compressed districts: within a 10-minute walk, residents can access the traditional Tanjong Pagar conservation shophouse belt, Maxwell Food Centre, Ann Siang Hill’s boutique bar and restaurant quarter, the Marina Bay financial precinct, and the Raffles Place commercial core. This density of destinations within walking distance is essentially unique in Singapore’s residential market.

MRT connectivity is exceptional. Tanjong Pagar MRT (EW15) on the East West Line is approximately 400–500 metres from the development — a 5-minute walk to one of the CBD’s most well-connected interchange hubs, providing direct access to Raffles Place (1 stop), City Hall (2 stops), and Jurong East (30 minutes). The newer Shenton Way MRT (TE19) on the Thomson-East Coast Line, located on Shenton Way approximately 700 metres away, adds a second line to One Bernam’s MRT access profile. From Shenton Way, residents can reach Gardens by the Bay, Marina Bay Sands, and the eastern districts directly on the TEL, and connect to Stevens and Woodlands via the northern TEL corridor. Two MRT lines within comfortable walking distance from a single residential address is a connectivity benchmark that few Singapore CBD condominiums can match.

The Tanjong Pagar precinct that surrounds One Bernam is undergoing its most significant transformation since the conservation shophouse belt was gazetted in the 1980s. The former Tanjong Pagar Railway Station — Singapore’s historic terminus, now designated as a national monument — anchors a precinct-wide redevelopment that includes the Greater Southern Waterfront master plan, expected to transform the coastline from Pasir Panjang to Marina East into a new mixed-use urban precinct over the next two decades. For One Bernam buyers, this precinct transformation is a long-horizon capital appreciation thesis layered on top of the immediate CBD address premium.

The immediate lifestyle environment is already fully formed. Maxwell Food Centre — awarded a Michelin Bib Gourmand for multiple stalls, most famously Tian Tian Hainanese Chicken Rice — is a 5-minute walk. Ann Siang Hill’s restaurant and bar strip, Club Street’s boutique café and cocktail culture, and Amoy Street’s award-winning restaurant row are all within 10 minutes on foot. Duxton Hill, one of Singapore’s most photogenic and densely dining neighbourhoods, is approximately 400 metres away. The lifestyle density within walking distance of One Bernam is a genuine differentiator for urban buyers who prioritise walkable access over suburban quiet.

Schools & Education

Facilities

As a purpose-designed urban lifestyle tower, One Bernam’s facilities deck is positioned to complement the mixed-use podium and hotel-grade lobby that define the development’s ground-level identity. The amenity offering includes a swimming pool, gymnasium, sky terrace with panoramic views, function rooms, co-working lounge, BBQ facilities, and a children’s pool. The mixed-use commercial component on the ground floor activates the street-level environment with F&B and retail tenants, reinforcing the development’s urban lifestyle positioning.

The sky terrace is One Bernam’s signature amenity feature: positioned at height in a CBD tower, it offers residents views toward Marina Bay and the city skyline that are inaccessible from ground-level residential developments. For an urban professional who has spent the day in a CBD office, the ability to take in city views from a residential amenity deck within the same precinct is a genuine quality-of-life proposition. The co-working lounge is a practical inclusion that acknowledges the hybrid work patterns of the development’s target demographic — remote-work professionals and CBD executives who need flexible work-from-home infrastructure.

“The lobby feels like a five-star hotel. The sky terrace views at night are spectacular — Marina Bay Sands, the CBD towers. For a CBD address at this price point, the facilities are genuinely impressive.”

— Resident review via PropertyGuru

The mixed-use ground floor is a facilities differentiator that conventional residential-only condominiums cannot replicate: resident access to ground-level commercial tenants without leaving the development effectively extends the on-site amenity offering beyond what the residential facilities deck alone delivers. At a CBD address where the surrounding precinct is already dense with dining and retail options, this podium activation reinforces rather than duplicates the neighbourhood offer.

Unit Sizes & Layout

One Bernam’s 364 units span a 1-, 2-, and 3-bedroom configuration range, with the unit mix reflecting the development’s positioning as a CBD investor-grade and urban professional product. Unit sizes are compact by historical Singapore condominium standards — a deliberate design choice that keeps absolute quantum accessible for CBD address buyers while maintaining high PSF pricing consistent with the location premium. 1-bedroom units begin at approximately 441 sqft; 2-bedroom configurations range from approximately 700 to 861 sqft; and 3-bedroom units reach approximately 1,044 to 1,109 sqft. Dual-key configurations are available, providing rental flexibility for investors who want to simultaneously owner-occupy and generate rental income from a studio component.

The layouts reflect contemporary CBD high-rise design principles: efficient use of floor plate, full-height windows to maximise natural light and city views, and integrated kitchen designs suited to the urban lifestyle buyer who uses the nearby Maxwell Food Centre and Amoy Street restaurant row as much as a home kitchen. Ceiling heights are standard for a 2024-vintage tower. The finishings reflect the developer’s hotel-grade positioning — MCC Land has described the development as applying hospitality design standards to the residential unit, with high-specification kitchen appliances and bathroom fittings consistent with what international hotel brands specify for serviced residences.

High-floor units command significant premium over lower floors, reflecting the unobstructed city and marina views available from the tower’s upper levels. Units facing Marina Bay deliver arguably Singapore’s most iconic residential view: the Marina Bay Sands integrated resort, the Marina Bay waterfront, and the Central Business District skyline. For investment-grade units intended for the short-stay or serviced residence segment, this view premium is a material rental and resale differentiator.

The dual-key configuration is worth specific attention for investor-buyers. By permitting a studio and main apartment to be separately tenanted, dual-key units at One Bernam allow investors to generate two income streams from a single ownership title — a structure particularly relevant in the CBD rental market, where short-stay serviced residence demand from relocating professionals and corporate tenants is concentrated. The $5,224 average monthly rent reflects the blended profile; individual dual-key rental yields may exceed the development average for investors who optimise unit configuration and tenant profile.

Pricing & Market Position

Across 358 recorded transactions (all-time), sale prices range from $1,017,000 to $12,000,000, averaging $1,951,029.

Over the last 12 months, transactions averaged $2,638 psf.

Rents range from $3,600 to $12,400 per month across 237 rental transactions. Current rental yield sits at approximately 3.3%.

Rental Yield by Bedroom Type

Blended yield hides the spread between unit sizes — smaller units at ONE BERNAM typically rent harder per dollar of purchase price:

Price Appreciation

From 2021 to 2026, the average PSF has appreciated by 4.7% (from $2,521 to $2,638 psf).

Neighbourhood Comparison

The most structurally relevant comparison for One Bernam is Altez at Enggor Street, a 280-unit 99-year leasehold completed in 2014 in the same Tanjong Pagar–Shenton Way micro-market. Altez transacts at approximately $2,100–$2,300 PSF — a $300–$500 PSF discount to One Bernam that reflects its older vintage (2014 versus 2024) and shorter remaining lease (~87 years versus ~92 years). For buyers who prioritise proven leasing track record and a slightly lower entry point over the newest-build premium, Altez offers comparable CBS address exposure with a 10-year longer occupancy history.

Icon at Gopeng Street is a 646-unit 99-year leasehold completed in 2007, one of the pioneering mixed-use residential towers in the Tanjong Pagar CBD transformation. Icon transacts at approximately $1,600–$1,900 PSF, meaningfully below One Bernam, reflecting its older vintage (2007 versus 2024), 2000s-era unit specifications, and shorter remaining lease of approximately 80 years. Icon’s larger unit count and longer leasing history provide more transaction depth for comparison analysis, but the specification gap between a 2007 and 2024 tower is material for buyers who value contemporary finishings and modern amenity standards.

V on Shenton at Shenton Way is a 510-unit mixed-use tower completed in 2016, offering a more recent vintage comparison at approximately $2,000–$2,200 PSF. Like One Bernam, V on Shenton operates a mixed-use commercial podium and is positioned at the CBD professional and investor segment. The ~$400–$600 PSF premium One Bernam commands over V on Shenton reflects the newer build (2024 versus 2016), the Bernam Street address’s proximity to the Tanjong Pagar conservation and Duxton Hill lifestyle belt, and the near-new lease term.

For buyers considering freehold CBD alternatives, Skysuites@Anson on Enggor Street — a freehold tower completed in 2014 — offers a permanent tenure CBD address at approximately $2,200–$2,500 PSF. The freehold premium at this PSF level is relatively narrow compared to the wider Singapore residential market, reflecting the CBD’s historically leasehold-dominant supply profile and the strong investor demand that supports leasehold CBD assets at near-freehold PSF levels. For buyers who specifically want freehold title in the CBD, Skysuites@Anson is the most direct comparable; for buyers who are indifferent to tenure over a 30-year hold horizon, One Bernam’s newer build and 92-year lease are strong arguments for accepting the leasehold structure.

Lease Decay Analysis

The 99-year lease runs from 2019, meaning approximately 7 years have already been consumed. Roughly 92 years remain — still comfortably within the range where most banks will offer full financing without restrictions.

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 ~82 years remaining, which is still very bankable. The risk profile changes for longer holds.

ShiokNest Scores

Our proprietary scoring system evaluates ONE BERNAM across multiple dimensions.

What Residents Say

“Living here feels like being in a city hotel that you own. Everything is at your doorstep — Maxwell for breakfast, Duxton Hill for dinner, Tanjong Pagar MRT for everything else. The Shenton Way TEL station around the corner makes the connectivity unbeatable.”

— Owner review via PropertyGuru

“The lobby and sky terrace are genuinely premium. The views from the upper floors toward Marina Bay are some of the best in any Singapore residential building. As an investment property the rental demand is strong — my unit was tenanted within two weeks of TOP.”

— Investor-owner review via EdgeProp

“We are expats renting here. The location is ideal — I walk to my office in Tanjong Pagar and my partner cycles to Raffles Place. Maxwell Food Centre is our regular breakfast spot. The unit is compact for a family but perfectly fine for a couple.”

— Tenant review via 99.co

“The Tanjong Pagar neighbourhood keeps getting better. New bars and restaurants opening every month. For a young professional this is the best address in Singapore at any budget — you live in the city rather than commuting to it.”

— Resident review via SRX

The resident and tenant feedback pattern at One Bernam is consistent: strong satisfaction with the CBD walkability, the dual MRT access, and the Tanjong Pagar lifestyle precinct; acknowledgement that the compact unit sizes make the development better suited to couples and urban professionals than to families with children; and broad appreciation for the hotel-grade lobby and sky terrace amenity positioning. Investors report strong rental demand and fast leasing velocity consistent with the development’s proximity to Singapore’s CBD employment core. The tenant profile skews toward expatriate professionals, finance and legal sector executives, and young Singaporean professionals who prioritise urban lifestyle access over space.

Strengths & Weaknesses

Verdict

One Bernam’s investment case is anchored by three structural advantages that are difficult to replicate in Singapore’s residential market: a genuine CBD address within a 5-minute walk of Tanjong Pagar MRT, a near-new 99-year lease from 2019 that removes the tenure overhang affecting older CBD leasehold condominiums, and direct exposure to the Greater Southern Waterfront precinct transformation that Singapore’s Urban Redevelopment Authority has described as the city-state’s next major urban renewal project. At $2,608 PSF, the development commands a new-build CBD premium — but one that is supported by genuine asset quality differentiators rather than marketing positioning alone.

The rental market validation is clear. At $5,224/month average rent, One Bernam’s tenant pool draws from Singapore’s deepest and most reliable rental demand base: CBD professionals, relocated expatriate executives, and corporate tenants whose office addresses are within walking distance of the development. The gross yield of approximately 2.94% is characteristic of premium new-launch CBD leasehold condominiums, where the investment thesis combines stable yield with capital appreciation potential from the precinct transformation cycle rather than yield maximisation alone.

The lease profile is a genuine advantage over the existing CBD leasehold stock. Compared to older District 2 and District 1 developments — many of which carry 60–80 year remaining leases and are subject to CPF usage restrictions or financing tightening — One Bernam’s 92-year remaining lease as of 2026 places it well above the 75-year CPF threshold for the foreseeable future, preserving the full buyer pool for resale and eliminating the financing constraint premium that weighs on older CBD leasehold assets.

One Bernam is the right answer for CBD investor-buyers who want a near-new address within walking distance of Tanjong Pagar MRT, exposure to the Greater Southern Waterfront transformation, and a lease profile that avoids the CPF-restriction discount affecting ageing CBD leasehold stock — and who are comfortable with compact urban unit sizes and a high-PSF entry point.

The development’s primary challenge is valuation: at $2,608 PSF for a 99-year leasehold, the entry price is demanding relative to both freehold CBD alternatives and the broader Singapore residential market. Capital appreciation from here requires either precinct transformation to continue ahead of expectations, sustained CBD rental demand, or both. The Greater Southern Waterfront master plan is a multi-decade project whose specific timelines and execution remain subject to government planning cycles — buyers treating the GSW as a near-term catalyst should calibrate expectations to a 10-15 year transformation horizon. For patient investors with a long hold horizon and CBD rental income as the primary return driver, One Bernam’s combination of address, lease quality, and precinct exposure is a well-structured thesis.