The Essence

Overview & Key Facts

The Essence is an 84-unit boutique condominium developed by Chong Kuo Development Pte Ltd — a joint venture between OKP Holdings, Lian Soon Holdings, and HSB Developments. Located at 1 Chong Kuo Road in District 26, the development comprises two 5-storey residential blocks on a 99-year leasehold tenure from 2018, with TOP achieved in 2021. Designed by the acclaimed Park + Associates Architects — a Singapore practice known for its contextual, nature-oriented design philosophy — The Essence takes its cues from the surrounding reservoir landscape, offering a low-rise residential retreat in one of Singapore’s quietest and most verdant pockets.

At an average transacted price of around $1,506 psf, The Essence sits well below the district median and represents one of the more affordable entry points into the landed-estate fringe of Upper Thomson. The development’s gross rental yield of 3.98% is strong for an OCR project, reflecting solid demand from tenants who value the nature-rich environment and proximity to the Thomson-East Coast Line. Buyer composition is overwhelmingly Singaporean (91.4%), with a small proportion of PRs (7.5%) and foreigners (1.1%), suggesting the condo appeals primarily to owner-occupiers and HDB upgraders seeking a quieter, more private lifestyle.

With only 84 units across two low-rise blocks, The Essence is intentionally intimate. The 46,092-square-foot site provides a generous ratio of open space to built area, and the development’s location between the Lower and Upper Seletar Reservoirs means unobstructed greenery views are a defining feature. However, the trade-off is significant: walkability scores just 15 out of 100, and there are no primary schools within the 1-kilometre priority enrolment radius — factors that families with school-age children must weigh carefully.

Location & Connectivity

The Essence occupies a unique position on Chong Kuo Road, nestled between the Lower Seletar Reservoir to the east and the Central Water Catchment to the west. The development is approximately 660 m from Springleaf MRT station on the Thomson-East Coast Line (TEL) — an 8–10 minute walk along Springleaf Avenue. The TEL provides direct access to Caldecott interchange (Circle Line), Stevens interchange (Downtown Line), and Orchard in under 25 minutes, making the CBD reachable within 35–40 minutes door-to-door. Drivers benefit from proximity to the Seletar Expressway (SLE) and the Central Expressway (CTE), both within a 5-minute drive.

The immediate neighbourhood is characterised by low-density landed housing, with the Springleaf estate comprising mostly detached and semi-detached homes along tree-lined roads. This gives The Essence a tranquil, almost semi-rural feel that is increasingly rare in Singapore. Springleaf Nature Park, a 10.7-hectare freshwater wetland within the Sungei Seletar catchment, is a short walk away and provides boardwalk trails for birdwatching, jogging, and nature exploration. The Lower Seletar Reservoir Park, with its scenic waterfront promenade and Rower’s Bay café, is also nearby.

For dining, residents gravitate toward the Springleaf area’s small cluster of eateries, including the well-known Springleaf Prata Place, or head to Thomson Road’s established food strip. Junction 9 and Thomson Plaza offer mid-range retail and grocery options within a 10-minute drive. Despite the isolation, many residents prize this quietness as the development’s greatest asset — the absence of high-rise HDB blocks, the lush reservoir greenery, and the low ambient noise levels create a living environment that feels worlds apart from central Singapore.

Facilities

For an 84-unit boutique development, The Essence provides a respectable range of facilities across its 46,092-square-foot site. The centrepiece is the 40-metre lap pool — an unusually generous length for a project of this scale, offering serious swimmers a viable exercise option without leaving the development. The pool deck includes a separate kids’ pool and a pool pavilion for lounging, creating a resort-like atmosphere enhanced by the surrounding landscaping designed by Park + Associates to mirror the natural reservoir environment.

Ground-level facilities include a gymnasium equipped with standard cardio and resistance machines, a BBQ pavilion for weekend entertaining, and two landscaped courtyards — the Contemplation Court and Serenity Court — that provide quiet outdoor spaces for reading or relaxation. A communal lawn area offers open green space, and dedicated bicycle parking supports the cycling culture that the reservoir trail network encourages. The development’s drop-off area is designed for smooth vehicular access, with the low-rise block arrangement minimising the lift-lobby congestion common in higher-density projects.

Unit Sizes & Layout

The Essence offers a range of unit types from 1-bedroom + study (538 sq ft) to 3-bedroom premium (1,227 sq ft), distributed across the two 5-storey blocks. All units come fitted with quality brand-name fittings from Hansgrohe (bathroom fixtures), Duravit (sanitary ware), and Bosch (kitchen appliances) — a fitting package that exceeds expectations at this price point. Layouts are generally efficient, with regular-shaped rooms that allow practical furniture placement and minimal wasted corridor space.

The 1-bedroom + study units at 538 sq ft are compact but functional, with the study nook offering flexibility as a home office or small nursery. The 2-bedroom units (ranging from approximately 657–753 sq ft) represent the development’s core offering, providing a good balance of space and affordability for couples and small families. The 3-bedroom premium units at 1,227 sq ft are the most spacious, featuring utility rooms and generous living-dining areas that accommodate full-sized dining tables and L-shaped sofas. Higher-floor units in both blocks enjoy views toward the reservoir and surrounding greenery, which is arguably the most compelling design feature of the development.

Ceiling heights are standard at 2.8 m, and the low-rise 5-storey format means there are no sky-high premiums to contend with — the price differential between ground-floor and penthouse-level units is moderate. The development does not offer dual-key configurations, which limits flexibility for investors seeking to split units for multi-generational or rental purposes. Ventilation is naturally aided by the low-density surroundings, with most units enjoying cross-ventilation from the absence of adjacent high-rise obstructions.

Pricing & Market Position

Across 23 recorded transactions (all-time), sale prices range from $700,000 to $1,810,000, averaging $1,174,467.

Over the last 12 months, transactions averaged $1,449 psf.

Rents range from $3,100 to $4,700 per month across 19 rental transactions. Current rental yield sits at approximately 4.1%.

Rental Yield by Bedroom Type

Blended yield hides the spread between unit sizes — smaller units at THE ESSENCE 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 11.2% (from $1,286 to $1,431 psf).

Neighbourhood Comparison

Within the Springleaf–Lentor corridor, The Essence competes against several developments at different price tiers. Springleaf Residence ($2,178 psf) is the closest geographic competitor, offering a 37-unit freehold boutique format on Springleaf Avenue. It commands a significant premium over The Essence due to its freehold tenure and slightly closer MRT proximity, but its smaller unit count and older completion (2015) mean fewer facilities. For buyers choosing between the two, the decision often comes down to freehold prestige versus The Essence’s newer build, larger pool, and lower quantum.

Lentor Modern ($2,132 psf) represents a fundamentally different proposition. As a 605-unit integrated development directly above Lentor MRT, it offers unmatched connectivity, a retail podium with a supermarket, and proximity to CHIJ St Nicholas Girls’ School. At roughly 42% more expensive on a PSF basis, Lentor Modern caters to families who need walkable amenities and school access — precisely the features The Essence lacks. Buyers who prioritise value and nature over urban convenience will find The Essence’s $600+ psf discount compelling.

Lease Decay Analysis

The 99-year lease runs from 2018, meaning approximately 8 years have already been consumed. Roughly 91 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 ~81 years remaining, which is still very bankable. The risk profile changes for longer holds.

ShiokNest Scores

Our proprietary scoring system evaluates THE ESSENCE across multiple dimensions.

What Residents Say

The Essence’s resident profile skews overwhelmingly Singaporean (91.4%), with a small proportion of permanent residents (7.5%) and foreigners (1.1%). This composition reflects the development’s appeal to local buyers — particularly HDB upgraders from the Yishun, Ang Mo Kio, and Sembawang heartlands — who are drawn to the landed-estate character of the Springleaf neighbourhood and the affordability of the $1,506 psf average. The 84-unit size creates a close-knit community atmosphere, and resident reviews consistently highlight the warmth of neighbours and the professionalism of the management corporation.

The development attracts a mix of owner-occupiers and tenants. Owner-occupiers tend to be couples, retirees, and small families who value the nature-immersive lifestyle, while the rental pool draws professionals and expatriates who appreciate the quiet surroundings and TEL connectivity. The 3.98% gross yield suggests healthy rental demand, likely supported by the proximity to the Seletar Aerospace Park and Springleaf business cluster. The absence of large communal event spaces means the social dynamic is more private and low-key than in larger developments — a characteristic that suits the resident demographic well.

Residents frequently cite the absence of surrounding HDB blocks and the abundant greenery as the development’s defining qualities. The management maintains the grounds to a high standard, and the low unit count means facilities are rarely overcrowded. Weekend mornings often see residents heading to the reservoir trails or Springleaf Nature Park, reflecting a community that genuinely engages with the natural environment rather than simply admiring it from their balconies.

Strengths & Weaknesses

Verdict

The Essence occupies a genuine niche in Singapore’s condominium market: a low-rise, low-density development in a nature-rich setting, priced well below the district average, with a respectable rental yield of 3.98%. For buyers who prioritise tranquillity, greenery, and an escape from the intensity of urban Singapore, it delivers on its promise. The 40-metre lap pool, quality fittings from Hansgrohe, Duravit, and Bosch, and the intimate 84-unit community are tangible advantages that are hard to find at this price point in District 26.

However, the limitations are equally real. A walkability score of 15/100 is among the lowest for any reviewed condominium, meaning a car is not a luxury but a necessity for daily life. The absence of any primary school within the 1-kilometre priority enrolment radius is a dealbreaker for many families. And while Springleaf MRT is within walking distance, the 660-metre trek is not sheltered and can feel long in Singapore’s tropical heat and rain.