The Bencoolen
Overview & Key Facts
The Bencoolen is a mixed-use development located at 180 Bencoolen Street in District 7, right in the heart of Singapore’s Bugis-Bras Basah arts and cultural precinct. Completed in 2008 on a 99-year lease from 2006, the development was designed by Archurban Architects Planners and comprises approximately 118 residential units above a commercial podium with ground-floor retail shops. The project occupies a compact land area of approximately 6,258 sqm with a gross floor area of 26,285 sqm, reflecting the high-density character of its downtown location.
As a mixed residential-commercial development, The Bencoolen is somewhat unusual among CCR condominiums — it blends the convenience of having shops at your doorstep with the urban energy of one of Singapore’s most vibrant cultural quarters. The Bugis-Bras Basah area is home to the National Library, Singapore Art Museum, School of the Arts (SOTA), and the Kampong Glam heritage district, giving the development a distinctly cosmopolitan and artsy neighbourhood character that few residential projects in Singapore can match.
At an average transacted price of approximately $1,606 psf, The Bencoolen offers a relatively accessible entry point into the Core Central Region — a positioning driven largely by its compact unit sizes and the lease profile (approximately 79 years remaining). The buyer profile skews heavily Singaporean (65.9%) with notable foreign interest (13.9%), reflecting its appeal to both owner-occupiers who value the lifestyle and investors targeting the CBD rental market.
Location & Connectivity
The Bencoolen’s greatest asset is its location. The development sits approximately 250 m from Bencoolen MRT station on the Downtown Line (DTL) — a genuine 3-minute walk — and is roughly 550 m from Bugis MRT interchange, which connects the East-West Line and Downtown Line. This dual-MRT access is exceptional: residents can reach Marina Bay in two stops on the DTL, Orchard in four stops, and Changi Airport in under 30 minutes via the East-West Line from Bugis. For drivers, the Kallang-Paya Lebar Expressway (KPE) is accessible via Nicoll Highway and the East Coast Parkway (ECP) via Ophir Road, placing the CBD just 5 minutes away.
Daily amenities are abundant. Sim Lim Square sits directly opposite for electronics, while Bugis Junction, Bugis+, and the Bugis Street market are within a 5-minute walk for shopping, dining, and entertainment. Raffles Hospital is less than 500 m away, and Suntec City, Marina Square, and Raffles City are all one MRT stop from Bugis interchange. For groceries, NTUC FairPrice at Bugis Junction and Cold Storage at Raffles City serve the immediate neighbourhood.
The school catchment includes Stamford Primary School (472 m), School of the Arts Singapore (578 m), and Farrer Park Primary School (1.23 km). While primary school options within 1 km are limited, the location compensates with proximity to tertiary institutions — the Singapore Management University campus is a 10-minute walk, and Nanyang Academy of Fine Arts is equally close, contributing to the area’s youthful, academic atmosphere.
Schools & Education
1 primary school within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Nanyang Academy of Fine Arts | tertiary | Within 1 km |
| LASALLE College of the Arts | tertiary | Within 1 km |
| School of the Arts | jc | Within 1 km |
| Singapore Management University | tertiary | Within 1 km |
| St. Andrew's Junior School | primary | Within 1 km |
| St. Andrew's Secondary School | secondary | Within 1 km |
| St. Andrew's Junior College | jc | Within 1 km |
| ACS (Junior) | primary | ~1.3 km |
Facilities
For a mixed-use development of its vintage, The Bencoolen offers a respectable suite of recreational facilities. The centrepiece is a swimming pool complemented by a tennis court — a notable inclusion for a downtown condo where land is at a premium. Residents also have access to a fully equipped gymnasium, barbecue area, and a residents’ lounge. The facility set is practical rather than resort-grade, reflecting the development’s urban positioning where the surrounding neighbourhood effectively serves as an extended amenity deck.
“The facilities are decent for a city condo — the pool is a nice bonus after work, and having a tennis court downtown is quite rare. But honestly, you buy here for the location, not the facilities. I can walk to everything — restaurants, cafes, the MRT, the library. The whole Bugis area is your living room.”
— Resident, lived for 3 years (SingaporeExpats)
The development includes 24-hour security, CCTV surveillance, and direct elevator access from the basement car park to residential floors — a practical convenience in a mixed-use building. The ground-floor commercial units add vibrancy but also mean that the residential component shares the building with retail activity, which some residents find energising and others find less private compared to a purely residential condo. Maintenance has been generally well-kept for a development approaching its 18th year.
Unit Sizes & Layout
The Bencoolen’s unit mix reflects its downtown, compact-living positioning. Units tend toward the smaller end of the spectrum, catering to singles, couples, and small families who prioritise location over space. The layouts are generally efficient with regular-shaped rooms, and the direct elevator access from parking to residential floors is a practical touch that enhances daily convenience. Most units feature standard finishes appropriate for their market segment.
Higher-floor units benefit from views over the low-rise Kampong Glam conservation area and toward the Rochor Canal, though some stacks face neighbouring developments at close range — typical of high-density downtown living. The mixed-use configuration means ground-floor retail generates foot traffic, but the residential floors are well-separated from the commercial podium. Investors should note the strong rental demand from the area’s concentration of offices, universities, and hospitals, with a current rental yield of approximately 3.8%.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 2 BR | 32 | $1,594 | $1,360,184 |
| 3 BR | 41 | $1,565 | $1,646,468 |
| 4 BR | 2 | $1,407 | $1,907,660 |
Pricing & Market Position
Based on 75 recorded transactions, sale prices range from $1,190,000 to $1,917,120, averaging $1,531,285 (~$1,611 psf).
Rents range from $2,800 to $6,800 per month across 424 rental transactions. Current rental yield sits at approximately 3.7%.
Price Appreciation
From 2021 to 2025, the average PSF has appreciated by 18.7% (from $1,344 to $1,595 psf).
Neighbourhood Comparison
The Bencoolen ($1,606 psf, ~118 units, 99-year from 2006) competes in a niche segment: affordable CCR mixed-use condos with exceptional MRT access. The closest comparable is DUO Residences ($2,100–2,300 psf, 660 units, 99-year from 2011) at nearby Bugis MRT — a newer, larger, and significantly more premium integrated development with Andaz Singapore hotel and retail. DUO commands a substantial PSF premium but offers modern finishes, a longer lease runway (about 84 years remaining), and the starchitect Büro Ole Scheeren design. For buyers who can stretch their budget, DUO is the objectively superior product — but The Bencoolen’s lower quantum provides a far more accessible entry point.
Midtown Modern ($2,500+ psf, 558 units, 99-year from 2019) on Tan Quee Lan Street represents the new-generation Bugis condo, with GuocoLand-quality finishes and direct connection to Bugis MRT. It is leagues ahead on product quality but at nearly double the PSF. For investors comparing yield versus outlay, The Bencoolen’s lower entry cost may still generate comparable percentage returns despite the age and lease differential. Among older CCR developments, The Plaza on Beach Road is another ageing mixed-use option, though it targets a different buyer profile. The Bencoolen’s edge remains its unbeatable combination of price accessibility and location convenience in the Bugis cultural heartland.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| THE BENCOOLEN | 99 yrs lease commencing from 1995 | 1998 | 182 | $1,611 |
| MIDTOWN MODERN | 99 yrs lease commencing from 2019 | 2021 | 558 | $2,837 |
| THE M | 99 yrs lease commencing from 2019 | 2021 | 522 | $2,755 |
| DUO RESIDENCES | 99 yrs lease commencing from 2011 | 2017 | 660 | $2,203 |
| MIDTOWN BAY | 99 yrs lease commencing from 2018 | 2021 | 219 | $3,222 |
| CONCOURSE SKYLINE | 99 yrs lease commencing from 2008 | 2014 | 360 | $1,961 |
Lease Decay Analysis
The 99-year lease runs from 1995, meaning approximately 31 years have already been consumed. Roughly 68 years remain — still comfortably within the range where most banks will offer full financing without restrictions.
| Year | Lease remaining | Implication |
|---|---|---|
| 2026 (now) | ~68 years | Full bank financing available |
| 2034 | ~59 years | Approaching 60-year threshold — CPF limits begin for some |
| 2054 | ~39 years | Significant financing restrictions for next buyer |
| 2094 | 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 ~58 years remaining, which is still very bankable. The risk profile changes for longer holds.
ShiokNest Scores
Our proprietary scoring system evaluates THE BENCOOLEN across multiple dimensions.
What Residents Say
“Living at The Bencoolen is like having the entire Bugis district as your backyard. I walk to dinner at Haji Lane, pop into the National Library on weekends, and my MRT commute to Marina Bay is two stops. The unit is small, but when your neighbourhood offers this much, you barely spend time at home anyway. The weekly cleaning service is a nice touch too.”
— Owner-occupier, 2 years (PropertyGuru)
“I bought here as an investment and it rents out quickly every time a tenancy ends. The location sells itself — tenants love being walking distance to Bugis, Suntec, and the MRT. The rental yield has been consistent at around 3.5-4%. My only concern is the lease — we are at about 79 years now, and I know that starts to affect resale as it drops further.”
— Investor-owner, since 2019 (99.co)
“The neighbourhood is fantastic — colourful, multicultural, always something happening. Sim Lim Square is right across the road, Arab Street is a short walk, and there are clinics and Raffles Hospital nearby. What I find less ideal is that the units feel quite dated now, and being a mixed-use building means the lobby area can get busy with the commercial traffic below. But for the price point in District 7, I cannot really complain.”
— Tenant, 1 year (SingaporeExpats)
Strengths & Weaknesses
- Exceptional MRT access — 250 m to Bencoolen MRT (DTL), 550 m to Bugis interchange (EWL + DTL)
- Heart of the Bugis-Bras Basah cultural and arts district with unmatched dining and entertainment
- Affordable CCR entry at approximately $1,606 psf — one of the lowest PSF points in the Core Central Region
- Strong rental demand from nearby offices, SMU, hospitals — 3.8% yield
- Ground-floor commercial shops add daily convenience directly within the building
- Raffles Hospital within 500 m for healthcare access
- Kampong Glam, Haji Lane, and Arab Street heritage precinct within walking distance
- Regular-shaped unit layouts with direct elevator access from basement parking
- Five-minute drive to CBD via Nicoll Highway
- Approximately 79 years remaining on lease — approaching CPF usage restrictions that narrow the resale buyer pool
- Compact unit sizes limit appeal for families needing space
- Mixed-use building means commercial foot traffic and less residential exclusivity
- Development is nearly 18 years old — finishes and common areas show age compared to newer launches
- Some stacks face neighbouring buildings at close range — typical downtown density trade-off
- Limited primary school options within 1 km priority enrolment radius
- No resort-style facilities — pool and tennis court are functional but not luxurious
- Noise from Bencoolen Street traffic can affect lower-floor units
Verdict
The Bencoolen is a location-driven proposition in every sense. At $1,606 psf with approximately 79 years remaining on the lease, it offers one of the most affordable entry points into the Core Central Region — a function of its compact units, mixed-use configuration, and ageing lease rather than any fundamental deficiency in the development itself. For buyers who want to live in the vibrant Bugis-Bras Basah cultural corridor with exceptional MRT access, The Bencoolen delivers on its core promise.
The strengths are clear: a 250 m walk to Bencoolen MRT, dual MRT line access via Bugis interchange, an unrivalled neighbourhood for arts, dining, and culture, and solid rental demand from the surrounding concentration of offices and educational institutions. The 3.8% rental yield reflects genuine tenant interest in this hyper-connected location, and the relatively low quantum makes it accessible for first-time investors.
The weaknesses are equally apparent. The lease is now at approximately 79 years — past the critical threshold where CPF usage restrictions begin tightening and bank loan-to-value ratios may be adjusted, which narrows the buyer pool for future resale. Unit sizes are compact even by CCR standards, limiting appeal to families. The mixed-use format means sharing the building with commercial tenants and their associated foot traffic. And at nearly 18 years old, the development is showing its age relative to newer CCR launches, even if maintenance has been adequate.
For young professionals, couples, or investors who value hyper-centrality over space and are comfortable with a mid-lease property, The Bencoolen represents a pragmatic city-centre play. For families needing bedrooms or buyers with a 20-year-plus hold horizon who worry about lease decay, newer and larger alternatives in the RCR may offer better long-term value.