St Francis Court
Overview & Key Facts
St Francis Court sits quietly on St Francis Road in District 12 — a short residential lane tucked between Serangoon Road and Bendemeer Road, a few hundred metres from the Boon Keng MRT station and the low-rise HDB heartland of Kallang–Whampoa. Developed by Delight Development Pte Ltd and completed in 1994, this is a compact 71-unit development occupying a single block, modest in scale but occupying a land parcel that is attracting fresh attention for reasons its original buyers could not have fully anticipated.
Three decades after its TOP, St Francis Court is best understood through three intersecting lenses: a lease that is entering critical territory, a rental yield of 4.33% that comfortably outperforms most RCR peers, and an en-bloc score of 72/100 that places it among the higher-probability collective sale candidates in the district. The combination of a small unit count (71 units makes securing 80% consent relatively manageable), a 1992 tenure clock, a choice D12 land parcel near the future Cross Island Line corridor, and rising land values in the Boon Keng–Bendemeer micro-market has put this development on the radar of collective sale observers.
For buyers and renters approaching St Francis Court on its own merits as a home, the picture is genuinely mixed. The location on EdgeProp shows a development that has traded in the $1,002–$1,192 psf range over the past 12 months — a deep discount to new-launch peers in the same district, driven almost entirely by the weight of lease decay. Bendemeer Primary and Bendemeer Secondary schools are 320 metres from the front gate. The neighbourhood is quiet, walkable to MRT, and well-served by hawker food. The ShiokNest composite score of 65/100 captures a development that earns its marks on location, yield, and en-bloc optionality, but where the lease clock is now ticking loudly enough to shape every decision a buyer needs to make.
Location & Connectivity
St Francis Road is a quiet residential street running off McNair Road, itself a connector between Serangoon Road and Bendemeer Road in the Kallang–Whampoa planning area. The address places residents in a genuinely mixed neighbourhood — HDB blocks, older private developments, shophouses, and a grid of low-rise streets that have changed relatively little since the 1980s. It is inner-city Singapore without the premium pricing of the Marina or Orchard corridors, which is precisely why it has a loyal pool of long-term residents and renters.
Boon Keng MRT (NE9) on the North-East Line is approximately 600 metres away — a flat, covered-in-parts 8-minute walk along McNair Road. The NEL puts residents at Dhoby Ghaut interchange in 4 stops (under 8 minutes), Little India in 2 stops, and HarbourFront in 9. Geylang Bahru MRT (DT24) on the Downtown Line is 890 metres away, and Potong Pasir (NE10) is 960 metres away, providing multi-line access without a car. For transit-dependent households, this is a legitimately good address: three stations on two lines within a kilometre.
Daily errands are straightforwardly handled. The Sheng Siong supermarket at Block 108 McNair Road is under 10 minutes on foot. Bendemeer Food Centre near Boon Keng MRT has a well-regarded hawker cluster including local chicken rice, carrot cake, and noodle stalls. Boon Tong Kee chicken rice is directly beside Boon Keng MRT. The Bendemeer Shopping Mall (between Serangoon Road and Bendemeer Road) provides retail banking, F&B, and convenience shopping, while the City Square Mall at Farrer Park (2 MRT stops) adds a full-size suburban mall to the catchment. For drivers, the CTE is accessible via Serangoon Road, putting the CBD approximately 10–12 minutes away in off-peak conditions.
Green space is reasonable. The Kallang River Park Connector passes through the broader neighbourhood, and the streets around McNair Road retain a tree-lined, human-scale character that is increasingly rare this close to the city fringe. Residents consistently describe the immediate environment as quiet despite the proximity to the arterial Serangoon Road, noting that the inward-facing layout of the compound shields units from traffic noise effectively.
Schools & Education
2 primary schools within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Bendemeer Primary School | primary | Within 1 km |
| Bendemeer Secondary School | secondary | Within 1 km |
| Hong Wen School | primary | Within 1 km |
| Stamford Primary School | primary | ~1.3 km |
| Assumption Pathway School | secondary | ~1.3 km |
| Balestier Hill Primary School | primary | ~1.5 km |
| Farrer Park Primary School | primary | ~1.5 km |
| School of Science and Technology | jc | ~1.5 km |
Facilities
St Francis Court is not a development people choose for its facilities. Built in 1994 to the standards and land-use intensity of that era, the compound provides the basics: a swimming pool, car parking, and security. There is no gym, no function room, no tennis court, no children’s play area, and no BBQ pavilion. For a 71-unit development built on a compact land parcel, this is structurally predictable — the economics of maintaining resort-grade amenities across 71 households are unfavourable, and there is no indication that MCST funds have been directed toward significant upgrades.
The low MCST burden that comes with a stripped-down facility list does have a silver lining for cost-conscious owners and renters: maintenance contributions are kept to a minimum, and there are fewer shared-cost items that can drive surprise special levies. For investment-oriented buyers who view St Francis Court primarily as a rental-income or en-bloc play, the absence of expensive amenities is a feature rather than a shortcoming.
Unit Sizes & Layout
St Francis Court’s 71 units span a range of configurations typical of a mid-1990s Singapore condominium: predominantly 2- and 3-bedroom layouts with floor areas that reflect the more generous sizing conventions of the era. Unlike contemporary developments where a “3-bedroom” frequently delivers 850–900 sqft, units here were built to older standards that typically allocated 1,100–1,400 sqft to a 3-bedroom configuration. This spatial generosity — relative to current norms — is reflected in the rental profile: the development records an average monthly rent of $3,922 across 67 rental transactions, with tenants drawn by the combination of reasonable rents, accessible location, and spacious layouts uncommon at this price point.
At an average transacted PSF of approximately $1,190 over the past 12 months (median price $1,052,000), St Francis Court is trading at a deep discount to every nearby new-launch peer. The Orie (99-year, $2,730 psf), Verticus (freehold, $2,122 psf), Gem Residences (99-year, $1,831 psf), Trevista (99-year, $1,698 psf), and Eight Riversuites (99-year, $1,641 psf) all command 38–130% premiums on a per-sqft basis. That discount is not arbitrary: it is the market’s pricing of the lease countdown. At 65 years remaining and declining, St Francis Court sits at a juncture where financing, resale, and planning timelines are converging in ways that demand careful buyer consideration.
For buyers who proceed with full awareness of the lease position, the unit quality story is more encouraging. Interior layouts in older developments of this vintage tend to have efficient room separation, separate kitchens (rather than open-plan), and utility areas that contemporary micro-units have eliminated. Most units will have been renovated at least once, and the rental track record (67 transactions in the dataset) suggests a consistent tenant base that has validated the floor plan and layout quality over the years. Prospective buyers should conduct careful due diligence on the condition of building fabric, plumbing, and electrical systems in individual units — at 30+ years of age, some will show their vintage more than others.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 2 BR | 9 | $1,101 | $900,667 |
| 3 BR | 15 | $949 | $1,195,333 |
Pricing & Market Position
Based on 24 recorded transactions, sale prices range from $780,000 to $1,508,000, averaging $1,084,833 (~$1,190 psf).
Rents range from $2,200 to $6,200 per month across 68 rental transactions. Current rental yield sits at approximately 4.3%.
Price Appreciation
From 2021 to 2025, the average PSF has appreciated by 37.6% (from $832 to $1,146 psf).
Neighbourhood Comparison
The D12 RCR competitive landscape spans a wide PSF range, reflecting the stark divergence between ageing leasehold stock and newer, well-located launches. St Francis Court’s $1,190 psf sits at the bottom of the district range — which is both its primary attraction and its most significant caution flag.
The Orie (99-year leasehold, 52 units, ~$2,730 psf) represents the premium end of the nearby new-launch spectrum. Launched in early 2025 to strong demand, it targets buyers who prioritise new fittings, fresh lease, and contemporary amenities. At 2.3x the psf of St Francis Court, the premium is entirely a function of lease tenure, building age, and facilities quality. For buyers willing to pay that premium, the 95+ years remaining on The Orie versus 65 years on St Francis Court is a straightforward trade.
Eight Riversuites (99-year leasehold, 843 units, ~$1,641 psf) is the most direct scale peer — a large, well-established development with a deeper rental market, better facilities, and a longer remaining lease. The $451 psf premium over St Francis Court reflects the difference in tenure health (99-year from a later base date), amenity breadth, and the liquidity advantage of a 843-unit pool. For buyers weighing the two on a yield basis, Eight Riversuites’ scale and newer lease may support better resale exit options a decade out.
Gem Residences (99-year leasehold, 578 units, ~$1,831 psf) and Trevista (99-year leasehold, 590 units, ~$1,698 psf) both sit in the mid-range, offering larger communities, full facility sets, and healthier leases at a 42–54% psf premium to St Francis Court. Trevista in particular, with its Toa Payoh Central location, serves a slightly different catchment but is frequently considered by buyers evaluating the broader D12–D13 corridor.
Verticus (freehold, 162 units, ~$2,122 psf) is the freehold benchmark in the near vicinity. At $932 psf above St Francis Court on a freehold title versus 65 years remaining leasehold, Verticus represents the maximum-tenure option for buyers who want D12 proximity without lease risk. The near-doubling of psf reflects the full tenure differential between a perpetual asset and one that is entering the depreciation-acceleration phase of its lease curve.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| ST FRANCIS COURT | 99 yrs lease commencing from 1992 | 1994 | 71 | $1,190 |
| THE ORIE | 99 yrs lease commencing from 2024 | 2025 | 52 | $2,730 |
| EIGHT RIVERSUITES | 99 yrs lease commencing from 2011 | 2016 | 843 | $1,643 |
| GEM RESIDENCES | 99 yrs lease commencing from 2015 | — | 578 | $1,838 |
| TREVISTA | 99 yrs lease commencing from 2008 | — | 590 | $1,702 |
| VERTICUS | Freehold | 2021 | 162 | $2,122 |
Lease Decay Analysis
The 99-year lease runs from 1992, meaning approximately 34 years have already been consumed. Roughly 65 years remain — still comfortably within the range where most banks will offer full financing without restrictions.
| Year | Lease remaining | Implication |
|---|---|---|
| 2026 (now) | ~65 years | Full bank financing available |
| 2031 | ~59 years | Approaching 60-year threshold — CPF limits begin for some |
| 2051 | ~39 years | Significant financing restrictions for next buyer |
| 2091 | Expiry | Lease reverts to state |
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 ~55 years remaining, which is still very bankable. The risk profile changes for longer holds.
ShiokNest Scores
Our proprietary scoring system evaluates ST FRANCIS COURT across multiple dimensions.
What Residents Say
“Just a condominium, completed in the 1990s. 99 years leasehold. Location is fairly good — quiet surrounding, within 10 minutes walk to Boon Keng MRT Station, within 10 minutes walk to Sheng Siong mini-mart at McNair. Facing inward, away from the noise from the main road (Serangoon Road).”
— Resident review via Singapore Expats Condo Directory
The pattern in resident feedback for St Francis Court is consistent and telling: the neighbourhood and quiet compound environment are valued, the MRT access is rated as adequate if not exceptional, and the development itself is described without enthusiasm or complaint. This is a building where residents stay for practical reasons — location relative to work, schools, or transit — rather than for lifestyle amenities. The absence of negative feedback about the development itself suggests a well-managed, low-drama building; the absence of enthusiastic praise confirms that facilities and presentation are unremarkable.
Listings on 99.co show a steady rental market with demand concentrated on 2- and 3-bedroom units from families and professional couples drawn by the school proximity and MRT access. The Bendemeer cluster — Primary and Secondary at 320 metres — generates a consistent cohort of parent-renters who value the school registration address above other considerations. This tenant segment is notably sticky: families tend to renew leases across multiple years to preserve school registration continuity, which contributes to the strong 67-transaction rental record and limits void period risk for landlords.
PropertyGuru review data for St Francis Court is thin — consistent with a development that generates owner and tenant loyalty without generating the kind of enthusiastic advocacy that flows into online review platforms. Residents live here; they do not evangelise about it. That profile suits a certain kind of buyer well: those who want a functional, well-located asset without paying for narrative or prestige.
Strengths & Weaknesses
- Strong gross yield of 4.33% — rare for RCR; 67 rental transactions confirm deep tenant demand
- Bendemeer Primary School 320m away — one of the closest school-to-condo proximities in D12
- Bendemeer Secondary School also 320m — P1 + secondary convenience in a single address
- Three MRT stations within 1km: Boon Keng (NE), Geylang Bahru (DT), Potong Pasir (NE)
- En-bloc score 72/100 — small 71-unit consent pool, failed past attempt confirms owner awareness
- Entry price ~$1,052,000 median — accessible quantum for D12 RCR with NEL connectivity
- Quiet inward-facing compound despite proximity to Serangoon Road
- Spacious units by contemporary standards — reflects 1990s floor-area conventions
- Hawker food, Sheng Siong, and Bendemeer Mall all within 10-minute walk
- 65 years lease remaining — drops below 60yr in ~5 years (c.2031), triggering bank financing restrictions
- CPF usage will be restricted when lease falls below 60yr, narrowing buyer pool materially
- Deep PSF discount to peers ($1,190 vs $1,641–$2,730) driven by lease, not resolvable by renovation
- Facilities minimal — pool and parking only; no gym, no tennis, no function room, no playground
- 71 units: thin resale liquidity, slow price discovery, narrow exit market
- Building approaching 32 years old — fabric, M&E, and common areas require due diligence
- Prior en-bloc attempt failed — owners have historically held out on pricing; outcome not guaranteed
- No covered walkway to Boon Keng MRT — 600m exposed walk in Singapore weather
- Investment score 54/100 — lease decay increasingly dominates capital appreciation prospects
Verdict
St Francis Court is a development that forces its buyers to answer a hard question: what am I actually buying, and at what horizon? The answer shapes everything.
For a yield-focused investor with a 5–10 year horizon, the case is meaningful. A 4.33% gross yield in the RCR is rare — most comparable D12 developments yield 2.5–3.5% at current capital values. The rental market is deep (67 recorded transactions, average rent $3,922/month), the tenant profile stable (families, professionals attracted by the NEL connection and school proximity), and the capital outlay at $1,052,000 median is accessible. A near-term en-bloc outcome would represent a bonus: the en-bloc score of 72/100, prior failed collective sale attempts that confirmed owner awareness of the option, the small 71-unit consent pool, and the attractive D12 land value all point to an asset where the collective sale probability is materially higher than the market average.
For an own-stay buyer, the calculation is more fraught. The schools, MRT, neighbourhood, and unit sizes are all genuinely good. But buying a 99-year leasehold asset with 65 years remaining, at a stage where the 60-year financing cliff is 5 years away, creates an ownership profile with limited flexibility. A family buying for a 15–20 year stay will find resale conditions increasingly challenging from the mid-2030s onward. Buyers should model an exit scenario at the 10-year mark carefully, not assume that current discount levels persist indefinitely.
The Bendemeer school cluster is a genuine and underappreciated asset. Bendemeer Primary School at 320 metres is one of the closest school-to-condo proximities recorded in the ShiokNest dataset for this district. For families navigating the P1 registration priority phases, this address is competitive. Bendemeer Secondary at the same distance extends the convenience across both primary and secondary years. If school proximity is the primary driver of a purchase decision, St Francis Court’s address is defensible even acknowledging the lease constraints.
Against its RCR peers, St Francis Court offers a unique risk-return profile that does not fit neatly into either the “value play” or “lease trap” narratives that dominate discussions of ageing leaseholds. It is better described as a time-sensitive, yield-with-optionality asset: strong income today, meaningful en-bloc upside, but a narrowing window before the lease position becomes the dominant factor in every transaction. Buyers who enter with clear eyes on that window, a firm exit plan, and an understanding of the financing landscape will find this a more nuanced proposition than the surface discount to peers initially suggests.