Queens Peak

Overview & Key Facts

Queens Peak is a 736-unit, 99-year leasehold condominium at 1 Dundee Road in Queenstown, District 3 — approximately 110 metres from Queenstown MRT station on the East-West Line. Developed by HY Realty (Dundee) Pte Ltd, the regional arm of MCC Group in Southeast Asia, and designed by award-winning AGA Architects, the development comprises twin 44-storey towers completed in 2020 on a 113,194 sqft site. At 44 storeys, the towers are among the tallest residential buildings in the Queenstown precinct, offering panoramic views toward the Dempsey Hill greenery, Botanic Gardens corridor, and the emerging Greater Southern Waterfront to the south.

MCC Group is a Fortune 500 conglomerate (ranked 290th globally) holding BCA’s highest A1 contractor grade in both General Building and Civil Engineering — credentials earned through work on Universal Studios Singapore and Resorts World Sentosa. Their Singapore residential portfolio includes The Poiz Residences, Alps Residences, The Santorini, and the more recent Sceneca Residence. HY Realty’s land bid for the Dundee Road site translated to approximately $871 psf per plot ratio — below the $1,051 psf ppr that Stirling Residences later commanded just 700 metres away, giving Queens Peak a structural cost advantage that continues to underpin its pricing position in District 3.

What makes Queens Peak unusual is the combination of genuine MRT adjacency (not “near” but physically connected via a sheltered side-gate) with a city-fringe RCR address that is four stops from Tanjong Pagar and five from Raffles Place. The development recorded 207 resale transactions at an average $2,233 PSF and an extraordinary 1,286 rental contracts at an average $4,189/month, producing a gross rental yield of 3.53%. That rental depth — among the highest for any single development in District 3 — reflects the structural demand from professionals who need the East-West Line commute to the CBD. With an investment score of 77/100 and zero unprofitable resale transactions to date, Queens Peak occupies a sweet spot: priced well below newer District 3 launches like Zyon Grand ($3,050 PSF) while delivering proven rental income.

Location & Connectivity

The location thesis for Queens Peak begins and ends with Queenstown MRT. At approximately 110 metres from lobby to platform — connected by a sheltered walkway via a side-gate — this is a genuine 1–2 minute door-to-platform journey, not the 5–8 minute “short walk” that most developments claim. On the East-West Line, residents are four stops from Tanjong Pagar, five from Raffles Place, and six from City Hall. For CBD-bound professionals, this translates to roughly 15 minutes from leaving their apartment to reaching their office building lobby — a commute time that rivals even prime District 1–2 addresses at a fraction of the price. Queenstown station is also one stop from Buona Vista interchange, connecting to the Circle Line and one-north business hub.

Drivers have direct access to the Ayer Rajah Expressway (AYE) via Commonwealth Avenue, placing Orchard Road roughly 10 minutes away and Changi Airport 20–25 minutes during off-peak. However, Dundee Road is single-lane, and residents report peak-hour congestion when exiting the development — a trade-off of the compact site footprint. The parking ratio (589 lots for 736 units) is intentionally below 1:1, reflecting the MRT-centric design philosophy, but it means seasonal carpark ballot competition for larger households with multiple vehicles.

One of Queens Peak’s underrated advantages is its direct link to the Alexandra Canal Linear Park and the Alexandra Park Connector network. From the development’s ground level, residents can walk or cycle along the canal corridor all the way to Marina Bay — a roughly 8 km route that doubles as both a recreational amenity and a viable cycling commute for CBD workers. The development provides 124 bicycle parking lots, an unusually high provision that signals the developer’s recognition of this connectivity advantage.

Daily amenities are well-served. The Queenstown neighbourhood offers multiple hawker centres (Queenstown, Alexandra Village, ABC Brickworks), wet markets, and established HDB-estate coffeeshops within walking distance. Anchorpoint mall and IKEA Alexandra are under 10 minutes on foot. For larger retail, VivoCity is three MRT stops away at HarbourFront. Healthcare access includes Alexandra Hospital (under redevelopment as a community hospital) and the National University Hospital, reachable in minutes via bus or MRT.

The school catchment is strong. Crescent Girls’ School (0.55 km) is among Singapore’s top secondary schools. Alexandra Primary (0.80 km) and Queenstown Primary (0.87 km) are both within the 1 km priority enrolment radius. For families planning an international school pathway, the United World College of Southeast Asia (Dover campus) is accessible via one MRT stop to Dover.

Schools & Education

2 primary schools within the 1 km Priority Phase balloting radius.

Facilities

Queens Peak distributes its 77 named facilities across three levels — ground floor, Level 7, and Level 27 — organised into seven thematic zones: Arrival, Botany, Dynamic, Indulge, Aqua, Family, and Tranquil. The centrepiece is a 50-metre lap pool on Level 7, accompanied by an aqua massage area, jacuzzi, panoramic sundeck, and children’s pool. The pool deck is flanked by landscaped gardens, a yoga deck, and outdoor fitness stations. For a 736-unit development on a 113,194 sqft site, the pool-to-unit ratio is adequate but not generous — expect peak-hour crowding on weekend afternoons.

Level 27 is where Queens Peak differentiates itself from ground-level-only competitors. The sky facilities deck houses a Breeze Lounge with panoramic views toward Dempsey Hill and the Botanic Gardens, a sky gym equipped with cardio and resistance machines, an outdoor kitchen and grill area, a cocktail bar, a teppanyaki dining pavilion, and a sunset lounge. The Botany zone on this level includes a nature alcove, scent garden, and zen garden. Working out at the sky gym 27 storeys up with unblocked views is a genuinely different experience from the typical basement or ground-floor gym — it is one of the development’s most appreciated features in resident feedback.

Ground-level facilities include a function room, alfresco gourmet dining area, BBQ pits, party loft, billiards room, hammock coves, a reading corner, and a dedicated pet’s corner — a thoughtful inclusion given Singapore’s growing pet ownership. The Family zone provides a children’s playground and a kids’ play area positioned adjacent to the on-site childcare centre, creating a practical cluster for parents. There is also a laundromat — an unusual but pragmatic amenity for smaller units without dedicated laundry space.

“Sheltered walkway all the way from Queenstown MRT. Excellent view from apartment. Great facilities.”

— Resident review via PropertyGuru

A practical advantage that is easy to overlook: Queens Peak includes one commercial unit and one childcare centre managed by the MCST. These commercial tenants contribute to the development’s sinking fund pool, effectively subsidising long-term maintenance costs for residential owners. This is not a feature found in most pure residential condominiums and provides a small but real financial benefit over the life of the lease. Upkeep has been reported as good and regular by residents, suggesting the MCST is functioning competently.

Unit Sizes & Layout

Queens Peak offers 25 floor plan configurations across six unit types, ranging from 431 sqft 1-bedroom units to 4,768 sqft penthouses. The breakdown: 1-bedroom and 1-bedroom+study (431–495 sqft, 266 units), 2-bedroom (624–807 sqft, 190 units), 3-bedroom (807–1,055 sqft, 228 units), 4-bedroom (1,507 sqft, 32 units), 5-bedroom (2,002 sqft, 16 units), and penthouses (4,628–4,768 sqft, 4 units). The unit mix is heavily weighted toward 1- and 2-bedroom configurations (62% of total units), reflecting the development’s investor and young-professional target demographic — and explaining its exceptional rental depth.

All units feature marble flooring in living areas — a specification that is relatively rare at this price segment and gives the interiors a premium first impression. Bedroom floors are timber. Ceiling heights are 2.9 metres in living spaces, dropping to 2.4 metres in hallways, utility rooms, bathrooms, and some kitchens. Appliances include SMEG cooker hood, hob, and built-in oven, plus a SMEG washer-dryer; bathrooms are fitted with Kohler fixtures. These are decent mid-range specifications that look good on paper but require some honest qualification (see below).

AGA Architects designed the twin-tower layout to maximise views: most upper-floor stacks enjoy either the Dempsey Hill/Botanic Gardens greenery to the north or the Greater Southern Waterfront corridor to the south. Stacked Homes notes that stacks 1 to 7 face a church and the Alexandra Canal Linear Park — this is the quieter, more desirable facing. Stacks 8 to 13 and 20 to 26 face the MRT track and Commonwealth Avenue, exposing lower-floor units to significant traffic and train noise. Stack selection matters enormously at Queens Peak.

The compact unit sizes deserve scrutiny. The 3-bedroom at 807 sqft is tight by any standard — the master bedroom struggles to accommodate a king-size bed comfortably, and all bedrooms are described as cramped despite a spacious dining/kitchen area. The large balcony and air-conditioning ledge consume precious floor area across most unit types, effectively reducing usable indoor space. For 1- and 2-bedroom investors, this is less of a concern (tenants accept compact layouts near MRT). For families considering the 3-bedroom, physically inspect the bedroom dimensions before committing — and compare against the 1,055 sqft 3-bedroom variant, which is materially more liveable.

Pricing & Market Position

Across 222 recorded transactions (all-time), sale prices range from $710,000 to $4,230,000, averaging $1,483,529.

Over the last 12 months, transactions averaged $2,247 psf.

Rents range from $2,100 to $12,000 per month across 1,364 rental transactions. Current rental yield sits at approximately 3.5%.

Rental Yield by Bedroom Type

Blended yield hides the spread between unit sizes — smaller units at QUEENS PEAK typically rent harder per dollar of purchase price. The final column shows monthly rent per $100,000 invested, so unit sizes compare on equal capital:

Price Appreciation

From 2021 to 2026, the average PSF has appreciated by 19.9% (from $1,867 to $2,238 psf).

Neighbourhood Comparison

The most direct comparison is with Stirling Residences ($2,271 PSF, 1,259 units, TOP 2022), located roughly 700 metres south along Stirling Road. Stirling commands a modest premium over Queens Peak despite being marginally further from the MRT, justified by newer facilities, more efficient layouts, far-reaching views (most stacks enjoy unblocked sightlines), and notably better noise insulation. Stacked Homes notes that Stirling’s noise seclusion and abundance of facilities are key differentiators over Queens Peak. For owner-occupiers who value living quality alongside MRT access, Stirling is the stronger pick. For pure rental investors, Queens Peak’s lower quantum and equivalent rental demand make it the better yield play.

One Pearl Bank ($2,569 PSF, 774 units, TOP 2023) is the architectural statement piece in the Queenstown precinct — a distinctive horseshoe-shaped tower by Serie + Multiply Architects that commands a $336 PSF premium over Queens Peak. One Pearl Bank targets a different buyer: design-conscious owner-occupiers willing to pay for iconic architecture, rooftop gardens, and a Outram Park MRT location (one stop closer to the CBD). The trade-off is a smaller unit count and lower rental depth. For investors, Queens Peak’s deeper rental market and lower entry price offer better risk-adjusted returns.

Zyon Grand ($3,050 PSF, 706 units, launched October 2025) is the new benchmark setter in District 3 — a CDL-Mitsui Fudosan integrated development with direct Havelock MRT access, twin 62-storey towers, and a 350-unit serviced apartment block above a retail podium. At $3,050 PSF, Zyon Grand commands a staggering $817 premium over Queens Peak. This gap is partly justified by newer specifications, a 99-year lease from 2024 (vs 2015), and the integrated retail component. But it also creates a powerful relative-value argument for Queens Peak: a proven development with 5 years of rental track record, 88 years of lease remaining, at 73% of Zyon Grand’s price. For investors who believe District 3 pricing will continue rising, Queens Peak is the value entry point.

Commonwealth Towers ($2,100 PSF, 845 units, TOP 2017) is the closest geographic peer — located directly beside Queenstown MRT on the opposite side. It offers a slightly lower PSF and older facilities, but benefits from a CDL pedigree and comparable MRT proximity. The two developments effectively compete for the same tenant pool, and rental yields are similar. Queens Peak’s newer completion date and higher specification level give it a marginal edge in tenant appeal, while Commonwealth Towers’ larger floor plates suit families better. The choice between them often comes down to unit availability and facing preferences.

Lease Decay Analysis

The 99-year lease runs from 2015, meaning approximately 11 years have already been consumed. Roughly 88 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 ~78 years remaining, which is still very bankable. The risk profile changes for longer holds.

ShiokNest Scores

Our proprietary scoring system evaluates QUEENS PEAK across multiple dimensions.

What Residents Say

“I love living here. The convenience is amazing — 1 min from Queenstown MRT, close to so many affordable food options, close to nature and walks.”

— Resident review via PropertyGuru

“Since it takes literally 1–2 min to reach your home from the MRT, getting home from anywhere in Singapore is insanely convenient.”

— Resident review via PropertyGuru

“Terrible, low-quality fixture choices like the shoddy Fermax intercom and Yale doorlock, or the plastic hinge on the Kohler toilet which several residents have been complaining about breaking … a super high maintenance apartment, despite not being particularly luxurious.”

— Resident review via PropertyGuru, July 2024

“Very lousy finishing, stone floor that stain easily, washing machine is so noisy that you can hear all your neighbours doing laundry … the walls are so hollow that you can literally hear your neighbours.”

— Resident review via PropertyGuru

“Great accessibility to major nodes in Singapore. Surrounding amenities are within reach for daily activities. Bright breezy and amazing cross wind vs other nearby developments.”

— Resident review via PropertyGuru, March 2025

The resident feedback pattern at Queens Peak is sharply polarised along a single axis: location versus build quality. The positive camp — and it is the larger camp — centres almost entirely on the MRT connection. Residents describe the 1–2 minute sheltered walk to Queenstown station as “insanely convenient” and consistently cite it as the primary reason they purchased or rented. The Alexandra Canal Linear Park connection is frequently mentioned as a bonus for runners and cyclists. Ventilation and natural light receive positive marks, with several residents noting excellent cross-breezes — a function of the twin-tower layout and the development’s relatively open surroundings.

The negative camp is equally consistent and centres on three themes: (1) soundproofing — hollow walls that transmit neighbour noise, washing machine vibrations, and footsteps are the most frequent single complaint; (2) fixture quality — the marble floors stain easily, the Kohler toilet plastic hinges break, and the intercom and digital lock are described as cheap despite the premium branding; (3) noise from MRT and Commonwealth Avenue for stacks facing the track. Multiple residents who have lived in the development for 1–2 years describe the build quality as disappointing relative to their initial expectations from the showflat. The commercial tenants contributing to the sinking fund and the generally competent MCST management receive positive mention, suggesting that common area upkeep is not among the issues.

Strengths & Weaknesses

Verdict

Queens Peak’s value proposition is simple and powerful: you are buying one of the closest MRT-connected condominiums in Singapore at a price that is $817 PSF below the newest comparable launch in District 3. At $2,233 PSF average, Queens Peak sits well below Zyon Grand ($3,050 PSF), below One Pearl Bank ($2,569 PSF), and roughly on par with Stirling Residences ($2,271 PSF) — despite being closer to the MRT than all three. The PSF trajectory tells a story of steady, unspectacular appreciation: $2,004 → $2,126 → $2,198 → $2,217 → $2,255 across the last five recorded periods. This is not a momentum play; it is a compounding-value play underpinned by structural rental demand.

The rental numbers are the headline. With 1,286 rental transactions — among the highest for any single development in District 3 — and a gross yield of 3.53%, Queens Peak has demonstrated that CBD-adjacent MRT convenience generates deep, repeatable rental demand. The average rent of $4,189/month on a $1.7M average quantum produces a yield that outperforms most RCR leasehold peers. Smaller units (1-bed, compact 2-bed) are the yield engines; larger units deliver moderate capital appreciation. This is textbook rental-income investing.

The investment score of 77/100 reflects several structural tailwinds: exceptional MRT proximity (walkability score 65/100 is pulled down by the relative distance to some amenity categories, but the MRT component alone deserves a standalone 9.5+ rating), steady price appreciation without speculative spikes, proven rental depth, the Greater Southern Waterfront long-horizon thesis, and the scarcity of new GLS supply in Queenstown (major sites appear only every 5–7 years). Queens Peak is not the newest or most glamorous option in the precinct — but it may be the most rational one for income-focused investors.

The 99-year lease commenced in 2015, leaving approximately 88 years. This is comfortable for any realistic holding period over the next 15–20 years. Buyers on a 25-year horizon should note the lease will approach the 65-year mark — when CPF financing restrictions begin to tighten — within their holding period. For most practical purposes, though, 88 years remaining is a non-issue for current buyers.

The honest trade-offs: build quality and finishes are below what the marble flooring initially suggests. Soundproofing is genuinely poor. The exterior design has been described as “uninspiring” and “HDB-like” by both professional reviewers and residents. Unit sizes are compact, particularly in the 3-bedroom category. MRT-facing stacks experience meaningful noise. These are real weaknesses. But for buyers who prioritise location efficiency and rental income over aesthetic appeal and build quality — and who select their stack carefully — Queens Peak remains one of the strongest MRT-adjacent investments in Singapore’s RCR market.