One Leicester
Overview & Key Facts
One Leicester is a 194-unit freehold condominium at 1 Leicester Road in District 13, developed by Centrepoint Properties Ltd (now Frasers Centrepoint Homes) and completed in 2009. Rising 18 storeys above the Potong Pasir – Boon Keng corridor, One Leicester occupies a city-fringe address that blends the quiet residential character of the Potong Pasir precinct with convenient access to the North-East Line and the urban amenities of the Toa Payoh – Balestier – Geylang triangle.
Freehold tenure in District 13 is a relative scarcity. The Potong Pasir – Macpherson corridor is predominantly HDB flat stock interspersed with a modest cluster of private condominiums; freehold land in this precinct — particularly on a full residential site rather than a fragmented en-bloc redevelopment parcel — is limited. One Leicester benefits from this structural scarcity: the freehold title provides CPF flexibility, unrestricted bank financing, and long-term land value preservation that its 99-year leasehold neighbours in the same postal district cannot match.
At an average PSF of approximately $1,653 and an implied gross yield of around 3.0% (average rent $4,169/month), One Leicester occupies an interesting position in the Singapore residential investment landscape — a freehold development with a yield that is meaningfully higher than the CCR and much of the RCR, priced at a level that remains accessible to a wider range of Singapore buyer profiles than Orchard or Marina Bay equivalents. The ShiokNest score of 64 and walkability score of 78 reflect a development that is functionally practical for daily life and well-connected by MRT, without the precinct glamour or mixed-use amenity depth of Bugis or Tanjong Pagar developments.
The development’s 194 units across 18 storeys give it a mid-scale presence — large enough for a proper facilities deck but compact enough to maintain a community feel that larger 500+ unit developments rarely sustain. With unit sizes ranging from approximately 904 sqft (2-bedroom) to 1,636 sqft (3-bedroom), One Leicester is oriented toward owner-occupiers and investors seeking genuine liveability rather than the micro-unit investor product that proliferated in the same era.
Location & Connectivity
One Leicester sits on Leicester Road in the Potong Pasir precinct of District 13 — a city-fringe residential enclave that occupies a distinctive position between the Kallang River valley to the south, the Toa Payoh HDB heartland to the north, and the Geylang – Macpherson corridor to the east. The address is approximately 4–5 km from the Orchard Road shopping belt and 5–6 km from the CBD, placing it in the outer ring of the city fringe — close enough for urban convenience, far enough from the CBD premium to remain accessibly priced in freehold terms.
The headline MRT asset for this address is Potong Pasir MRT (NE10) on the North-East Line, approximately 290 metres from One Leicester — a genuine walking-distance connection rather than a marketing approximation. From Potong Pasir, the North-East Line provides rapid access to Dhoby Ghaut (4 stops, 8 minutes), Little India (3 stops), Serangoon interchange (3 stops, connecting to the Circle Line), and HarbourFront (10 stops). For residents working in the CBD or Orchard corridor, a one-stop change at Dhoby Ghaut gives access to the North-South Line’s entire length. Geylang Bahru MRT on the Downtown Line is also accessible (approximately 700–800 metres via a short walk or bus) for those needing cross-island or Buona Vista connectivity without transfer.
The immediate neighbourhood is layered in a way that is characteristic of the inner-city fringe. Within a five-minute walk: the Potong Pasir HDB commercial hub (wet market, coffee shops, provision shops, medical clinics), the Potong Pasir Community Club, and the Potong Pasir residents’ network of local hawker food that forms the backbone of daily life for residents who value authentic neighbourhood character over mall-dependent convenience. Within ten minutes on foot or a short bus ride: Bendemeer Shopping Mall, Balestier Plaza, Shaw Plaza, and the Balestier Road shophouse strip with its established restaurants and motor trade cluster. The Whampoa Drive Food Centre and Toa Payoh Food Centre — two of Singapore’s most celebrated hawker precincts — are accessible in under fifteen minutes by public transport.
The school catchment is a genuine strength for family buyers. St. Andrew’s Junior School is approximately 310 metres away — well within the 1-km primary school proximity that influences MOE ballot priority — and St. Andrew’s Secondary School is approximately 190 metres away, within easy walking distance. Cedar Girls’ Secondary School (870 metres), Bendemeer Primary (830 metres), and Cedar Primary (approximately 1.1 km) round out a catchment that supports families across primary and secondary education phases. For a mid-size freehold development at this price point, the school proximity at One Leicester is exceptional.
The Potong Pasir precinct itself carries a neighbourhood character that differentiates it from the generic HDB town matrix. The area has a legacy of resident identity — the Potong Pasir SMC was an independent opposition ward for over three decades, and the associated community investment by long-standing residents has produced a lived-in, community-rooted neighbourhood texture. The proximity to the Kallang River corridor, the low-rise residential streets, and the coexistence of old shophouses alongside modern HDB blocks gives Potong Pasir a patina of authenticity that more recently developed D15 or D16 estates do not have. For buyers who value neighbourhood character alongside MRT access, this is a meaningful qualitative advantage.
Schools & Education
2 primary schools within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Assumption Pathway School | secondary | Within 1 km |
| Stamford Primary School | primary | Within 1 km |
| Bendemeer Secondary School | secondary | Within 1 km |
| Bendemeer Primary School | primary | Within 1 km |
| Hong Wen School | primary | ~1.5 km |
| Balestier Hill Primary School | primary | ~1.5 km |
| Red Swastika School | primary | ~1.6 km |
| School of Science and Technology | jc | ~1.6 km |
Facilities
One Leicester’s facilities programme reflects its 2009 vintage and 194-unit scale: a functionally complete set of residential amenities that covers the daily leisure needs of a mid-size development without the elaborate multi-level amenity decks that characterise newer launches at two to three times the PSF. The facilities are well-maintained and appropriately sized for the development’s community, and the compact scale of the development means facilities are never over-crowded in the way that 500+ unit mega-developments frequently are at peak weekend hours.
The outdoor facilities include a main swimming pool, a fun pool, a spa pool with reflexology path, a tennis court, and BBQ pavilions — a full outdoor recreational programme. Indoor facilities include a gymnasium room, a multi-purpose hall suitable for community events and private functions, and a playground for children. The development is managed under 24-hour security with access control and CCTV surveillance, consistent with the condominium standard for this vintage.
The facilities specification is characteristic of Centrepoint Properties’ mid-market condominium programme of the 2000s — comparable to the standard delivered at The Raintree and other FCL developments of similar vintage and scale. Buyers expecting the sky gardens, infinity pools, and concierge services of post-2015 luxury launches will find One Leicester’s facilities modest but entirely functional. The appropriate framing is that One Leicester’s facilities are well-suited to its price tier and community size: a 2009 freehold development at $1,653 PSF should not be benchmarked against a 2022 luxury launch at $2,500 PSF. Within its own peer group of similarly priced freehold developments in the D13 – D14 corridor, the facilities are competitive.
Unit Sizes & Layout
One Leicester’s 194 units are distributed across a single 18-storey residential block, offering a unit mix concentrated in the 2-bedroom and 3-bedroom configurations that reflect the development’s orientation toward genuine owner-occupier liveability rather than investment-grade micro-units. Unit sizes are notably generous by post-2015 Singapore condominium standards: 2-bedroom units range from approximately 904 to 1,066 sqft, and 3-bedroom configurations from approximately 1,152 to 1,636 sqft. A limited number of 4-bedroom units at approximately 1,378 sqft complete the mix.
The generous floor plates reflect the design ethos of the early-to-mid 2000s Singaporean condominium market — a period before the regulatory incentivisation of compact investor units that compressed unit sizes significantly in launches from 2010 onwards. Buyers who have been priced out of the post-2015 condominium market and are looking for space efficiency will find One Leicester’s 2- and 3-bedroom floor plates materially more comfortable than comparable-priced newer launches with units 20–30% smaller. The 904-sqft 2-bedroom entry-level unit at One Leicester is larger than many 3-bedroom units in newer developments at similar PSF.
The finish standard is functional rather than aspirational — characteristic of Centrepoint Properties’ mid-market positioning. Units feature standard marble or tile flooring, laminate-finished built-in wardrobes, and kitchen cabinetry at a developer-specification level. The building is approaching 17 years old as of 2026, and buyers should factor in renovation allowances for kitchens, bathrooms, and flooring if purchasing a unit that has not been recently updated. Resale units that have been renovated typically present at a significantly higher standard than the original developer specification, and the generous unit sizes make One Leicester an excellent renovation canvas for buyers who want to personalise their space.
The 18-storey single-block format means that upper-floor units capture elevated views across the Potong Pasir – Toa Payoh roofscape, with lower floors facing the surrounding neighbourhood’s greenery and low-rise residential fabric. There is no intra-development tower view competition — all 194 units share a single address and a consistent common facilities pool, creating a cohesive community dynamic that multi-tower developments with competing sub-addresses sometimes lack.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 2 BR | 5 | $1,520 | $1,383,600 |
| 3 BR | 16 | $1,712 | $2,051,049 |
| 4 BR | 4 | $1,582 | $2,258,750 |
Pricing & Market Position
Based on 25 recorded transactions, sale prices range from $1,250,000 to $2,600,000, averaging $1,950,791 (~$1,942 psf).
Rents range from $2,600 to $7,800 per month across 167 rental transactions. Current rental yield sits at approximately 2.5%.
Price Appreciation
From 2021 to 2025, the average PSF has appreciated by 43.8% (from $1,367 to $1,965 psf).
Neighbourhood Comparison
The closest structural comparables to One Leicester within the Potong Pasir – Boon Keng – Macpherson corridor are The Poiz Residences (99-year, 2019, Potong Pasir MRT-integrated, 99-year leasehold starting 2014) and Sant Ritz (99-year, 2017, Potong Pasir). The Poiz Residences is the MRT-integrated commercial-and-residential development directly above Potong Pasir MRT station — a genuine convenience advantage — but its 99-year lease commencing 2014 introduces lease-decay considerations over a long hold period that One Leicester’s freehold title avoids entirely. Recent Poiz Residences transactions average approximately $1,700–$1,900 PSF, a PSF premium over One Leicester that represents the MRT-integration convenience premium partially offset by the leasehold discount. For buyers with a 20+ year horizon, One Leicester’s freehold title typically justifies a modest PSF premium over The Poiz; for shorter-hold investors, The Poiz’s direct MRT integration is a stronger rental-demand argument.
Casa Meya and Leicester Lodge are the immediate freehold neighbours in the Leicester Road – Potong Pasir precinct, both freehold and both smaller in scale than One Leicester. They serve as alternative freehold options in the same micro-location but with fewer units and correspondingly less facilities depth and market liquidity. One Leicester, with 194 units, is the largest freehold development in the immediate Potong Pasir precinct and benefits from greater transaction volume for resale price discovery and exit liquidity.
On a cross-district basis, Intero (freehold, D13, Macpherson area) and developments along the Geylang corridor offer alternative freehold D13 exposure at broadly similar PSF levels, but without the Potong Pasir MRT walkability or the St Andrew’s school proximity that give One Leicester its quality-of-life distinctiveness. Buyers evaluating D13 freehold options should weight the 290-metre MRT separation and 310-metre primary school proximity as measurable advantages that Geylang-side freehold alternatives rarely offer simultaneously.
Against the broader Singapore mid-market freehold universe, One Leicester at $1,653 PSF compares favourably to equivalent-vintage freehold developments in D15 (East Coast, $1,800–$2,100 PSF) and D11 (Novena, $2,000–$2,400 PSF). The PSF discount to D15 and D11 reflects the Potong Pasir precinct’s lower prestige positioning, but buyers who prioritise MRT proximity, school catchment, unit size, and yield over neighbourhood prestige will find One Leicester’s value equation compelling against these higher-priced freehold alternatives.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| ONE LEICESTER | Freehold | 2009 | 194 | $1,942 |
| THE WOODLEIGH RESIDENCES | 99 yrs lease commencing from 2017 | 2021 | 667 | $2,229 |
| THE TRE VER | 99 yrs lease commencing from 2018 | 2021 | 729 | $1,919 |
| BARTLEY RIDGE | 99 yrs lease commencing from 2012 | 2018 | 868 | $1,708 |
| PARK COLONIAL | 99 yrs lease commencing from 2017 | 2021 | 805 | $2,145 |
| THE POIZ RESIDENCES | 99 yrs lease commencing from 2014 | 2019 | 731 | $1,867 |
ShiokNest Scores
Our proprietary scoring system evaluates ONE LEICESTER across multiple dimensions.
What Residents Say
“We have been here six years and have no plans to move. The 3-minute walk to Potong Pasir MRT is genuinely life-changing for a family with school-going kids. St Andrew’s Junior School is a 5-minute walk. The neighbourhood is quiet and safe and has a real community feel that you don’t get in the newer mega-developments.”
— Owner-occupier review via PropertyGuru
“Freehold, walking distance to MRT, St Andrew’s within the 1km radius. The value proposition here is exceptional compared to what you get in D9 or D10 for three times the price. Yes, the area is not glamorous, but it is extremely practical and the community is warm.”
— Resident comment via SRX
“The unit sizes here are from a different era — my 1,200 sqft 3-bedroom is larger than what some developers now call a 4-bedroom. The renovation possibilities are excellent. We bought it as a resale, renovated, and it feels completely new inside while keeping all the space advantages of an older development.”
— Owner review via 99.co
“I invested here primarily for the freehold title in D13 at below $1,700 PSF. The yield is decent at around 3% and the tenant demand is consistent — young professionals working in the CBD find the North-East Line access very practical. Not a flip trade but a solid long-hold position.”
— Investor comment via EdgeProp
The resident and investor feedback pattern at One Leicester centres consistently on four themes: the Potong Pasir MRT walkability as a genuine daily-life advantage; the school catchment quality for families with primary and secondary-age children; the generous unit sizes relative to newer-vintage and comparable-priced developments; and the community scale and neighbourhood authenticity that distinguish Potong Pasir from more generic city-fringe addresses. The investor cohort notes the 3.0% gross yield as a reasonable income return for a freehold asset, with consistent tenant demand from professionals and families who value the MRT access and school proximity.
Strengths & Weaknesses
- Freehold tenure in District 13 — structural scarcity value that 99-year leasehold equivalents in the same precinct cannot replicate; insulates against lease-decay pricing discount over long hold periods
- Potong Pasir MRT (NE10) approximately 290 metres away — genuine 3–4 minute walking distance that supports practical daily commuting to Dhoby Ghaut, Little India, Serangoon, and HarbourFront without a car
- St Andrew’s Junior School approximately 310 metres away — well within the 1km MOE ballot priority radius, a material advantage for families with primary-school-age children competing for sought-after school placements
- St Andrew’s Secondary School approximately 190 metres away — an exceptional secondary school proximity that supports families through both primary and secondary education phases within walking distance
- Generous legacy unit sizes: 2-bedroom from 904 sqft, 3-bedroom from 1,152 sqft — materially larger than comparable-priced newer launches where 2-bedroom units often start at 650–750 sqft
- Gross yield approximately 3.0% (average rent $4,169/month) — a meaningfully higher income return than CCR luxury alternatives; provides real financing cost offset for leveraged investors
- Mid-scale 194-unit development: facilities — pool, gym, tennis court, BBQ — are shared by a compact community rather than competing with 500+ residents at peak weekend usage
- Potong Pasir neighbourhood character: authentic community texture, established hawker food (Whampoa Drive, Toa Payoh), low crime, and a lived-in residential identity that more recently developed precincts often lack
- Centrepoint Properties (Frasers Centrepoint) developer pedigree — an established Singapore-listed developer with a long track record of mid-market residential delivery and post-completion management quality
- Approaching renovation cycle: 2009 vintage means kitchens, bathrooms, and flooring in unrefurbished units are 15–17 years old; buyers of unrenovated units should budget $60,000–$100,000+ for a full interior refresh
- Potong Pasir precinct lacks lifestyle amenity density: no major mall, limited international dining, and no bar or entertainment strip within walking distance — residents dependent on lifestyle-rich neighbourhood environments will find the area too residential-functional
- Investment score 58 — below-median capital-appreciation outlook relative to Singapore condo universe; buyers seeking maximum short-term price growth should consider districts with active URA transformation narratives (D1, D7, D15)
- Single-block 18-storey format provides no tower-choice flexibility — all units share the same address and orientation constraints; upper-floor city view quality is modest compared to taller CCR towers
- Maintenance fund and sinking fund discipline in older condominiums varies; buyers should review MCST records and any outstanding lift replacement, facade repair, or waterproofing works before committing
- Limited retail and dining within a 5-minute walk compared to MRT-integrated developments like The Poiz Residences directly above Potong Pasir MRT station — convenience shopping requires a short walk or bus ride to Bendemeer Mall or Balestier Plaza
Verdict
One Leicester’s investment thesis is straightforward and durable: freehold tenure in a city-fringe district with genuine MRT walkability, a top-tier primary school catchment, generous legacy unit sizes, and a yield that provides reasonable income cover for a long-hold position. None of these attributes is glamorous in the way that Marina Bay views or Orchard Road proximity are glamorous, but each is structurally valuable in the Singapore residential market over a 10–20 year investment horizon.
The freehold title is the most important single attribute. In a market where the large majority of new launches are 99-year leasehold and where lease-decay has become an increasingly visible pricing factor for leasehold assets from the 1980s and 1990s, freehold tenure in D13 at $1,653 PSF represents a structural scarcity value that is difficult to replace once sold. One Leicester will not appreciate to Orchard Road prices — the neighbourhood and precinct characteristics do not support that trajectory — but the freehold title insulates buyers from the lease-decay discount that will progressively erode the value of 1990s and early 2000s 99-year leasehold equivalents in the same price band.
One Leicester is the right answer for value-oriented buyers who want freehold tenure within MRT walking distance of the city fringe, a school catchment that supports families through primary and secondary phases, and a yield that provides genuine income return on a long-hold investment — without paying a CCR premium for prestige that is irrelevant to their investment objectives.
The 3.0% gross yield at average rent $4,169/month is a meaningful real-world advantage over CCR luxury alternatives yielding 1.5–2.0%. For a leveraged buyer at today’s mortgage rates, 3.0% gross yield provides a meaningfully better income offset to financing costs than the 1.8% available at Midtown Modern or the 1.6% at typical Orchard Road addresses. Investor buyers who need their property to partially service its own financing while they hold for long-term freehold appreciation will find One Leicester’s yield profile significantly more practical than equivalent-quantum investments in higher-profile districts.
The development’s limitations are real and should be acknowledged. The 2009 vintage means that kitchens, bathrooms, and common areas are approaching their natural renovation cycle, and buyers of unrenovated units should budget for a full interior refresh. The Potong Pasir precinct does not offer the lifestyle richness of Bugis, Robertson Quay, or East Coast Park — residents dependent on high-density retail, international dining, and bar culture will find the neighbourhood too residential-functional for their preferences. And at an investment score of 58, One Leicester is not a top-decile capital-appreciation candidate — buyers seeking maximum price growth potential may find stronger short-term momentum in newer launches with more active URA transformation narratives.
For the right buyer — a family attracted by the St Andrew’s school catchment, a long-hold investor prioritising freehold scarcity and yield, or a professional commuter who values direct MRT access over neighbourhood prestige — One Leicester delivers a value proposition that Singapore’s current residential market struggles to replicate at this price point: genuine freehold tenure, MRT walkability, and liveable space, at a city-fringe price that remains within reach of the Singapore middle market.