The Mercury
Overview & Key Facts
The Mercury occupies a quiet address at 38 Shanghai Road in District 10 — a slender residential lane tucked between the commercial pulse of Orchard Road and the calmer waterfront stretch toward the Singapore River. Developed by Fortune Shanghai Road Pte Ltd and completed in 2012, it is an 18-storey freehold tower comprising just 67 units: a boutique scale that is rare at this price point and in this district.
The development’s marketing language — “the world between calm and vibrancy” — captures its positioning accurately. Shanghai Road sits far enough from Orchard Road to feel residential and private, yet close enough that the entire district’s retail, dining, and transport infrastructure is within a short walk or taxi ride. The architecture draws on “strong, defined lines, grill shades and cool greys” softened with lush landscaping — a contemporary single-tower design that reads as sleek rather than imposing. With a land area of 23,607 sqft (2,190 sqm), it is compact by mid-tier standards, but the freehold tenure and D10 address give it a positioning that is firmly premium rather than mid-market.
Buyer demographics, as reflected in transaction history, skew toward professionals, small families, and investors — a profile consistent with the unit mix (1+study and 2+study configurations, including two penthouse units). The development has 12 recorded sales transactions and 140 rental transactions in its history, suggesting a meaningful landlord population and a well-established rental market.
Location & Connectivity
The Mercury’s location is defined by an uncommon combination: genuine residential quiet alongside one of Singapore’s best-connected transport corridors. Great World MRT station (Thomson-East Coast Line) is approximately 760 metres away — a 10-minute walk or a two-minute drive. Orchard Boulevard MRT is about 870 metres, and Orchard interchange (North-South and Thomson-East Coast Lines) is reachable within 1.1 km. For a District 10 freehold property, the proximity to not one but three TEL stations is a significant and relatively recent upgrade — the Thomson-East Coast Line only opened its Orchard extension in 2022, substantially improving the connectivity profile for all addresses along this stretch.
For drivers, the picture is equally strong. Orchard Road is around 4 minutes by car. The CBD is reachable in 10–12 minutes via the CTE or via River Valley Road during off-peak hours. The PIE and AYE connect southward and eastward efficiently. Great World City, Cold Storage, and FairPrice Finest are all within a kilometre — grocery access is one of this development’s understated strengths. The Jasons at ION Orchard and Marketplace at Great World City represent the two nearest premium supermarkets, both reachable on foot with limited effort.
For day-to-day errands, Alexandra Village Food Centre is about 1.4 km away and is arguably one of the best hawker centres in the inner city. The Great World City mall (currently undergoing asset enhancement) provides retail and dining within easy reach. Valley Point Shopping Centre is adjacent and offers neighbourhood retail. Robertson Quay and Boat Quay are both reachable within 15 minutes on foot via the river promenade — a pleasant evening walk for residents who enjoy Singapore’s riverside dining scene.
Schools & Education
3 primary schools within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Gan Eng Seng Primary School | primary | Within 1 km |
| Gan Eng Seng School | secondary | Within 1 km |
| Kheng Cheng School | primary | Within 1 km |
| River Valley Primary School | primary | Within 1 km |
| CHIJ (Kellock) | primary | ~1.0 km |
| Tanglin Secondary School | secondary | ~1.1 km |
| Chatsworth International School (Orchard) | international | ~1.2 km |
| Henderson Secondary School | secondary | ~1.2 km |
Facilities
At 67 units on an 18-storey single tower, The Mercury offers a focused rather than expansive facilities package. The headline amenity is an infinity-edged swimming pool with penthouse roof garden Jacuzzi, complemented by a gymnasium, pool deck, BBQ pit, and 24-hour security. There is no tennis court, no function rooms, no children’s water playground, and no clubhouse — and at this scale and price point, none are expected. The trade-off for boutique living is a quieter, less competitive amenities environment: residents are not queuing to book a pool lane or waiting for a BBQ pit slot on National Day.
“Private, quiet, good breeze. The swimming pool area is large and open, with beautiful garden views. Exactly what you want when you come home to Orchard.”
— Resident review via 99.co
The infinity pool’s orientation — positioned on the development’s landscaped grounds — provides a sense of openness that larger megacomplexes struggle to replicate despite far more pools per resident. For a tenant or owner-occupier seeking low-hassle daily amenities in a calm environment, the facilities package is well-calibrated. The one consistent note in resident reviews is that the kitchen layouts are compact — a reflection of the development’s lean toward professionals and couples over large family households.
Unit Sizes & Layout
The Mercury’s unit mix is deliberately narrow: 32 one-bedroom-plus-study units at 635 sqft, 31 two-bedroom-plus-study units at 1,044–1,259 sqft, and 4 penthouses (2 at 1,205 sqft, 2 at 1,926 sqft). The “plus-study” configuration is well-suited to the development’s professional tenant base — the study can function as a home office, nursery, or storage flex space without consuming a full bedroom allowance. At 635 sqft for a 1+study, the one-bedroom footprint is compact but not cramped by District 10 standards for a 2012-era build. The 2+study units at 1,044 sqft offer a meaningful size advantage over comparable new-launch configurations, where 2-bedroom units in D10 now routinely come in at 700–800 sqft.
Given the tower’s orientation on Shanghai Road, upper-floor units gain partial city skyline views toward Orchard and River Valley. The 18-storey height provides reasonable view corridors without being adjacent to a major expressway. Units facing the quieter landed residential enclave to the south enjoy more greenery and less ambient noise — worth specifying at purchase if stack data is available. The penthouse Jacuzzi on the roof garden is a genuine differentiator at this price point, offering a semi-private outdoor experience that is uncommon in boutique freehold developments of this size.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 1 BR | 8 | $2,059 | $1,307,500 |
| 3 BR | 4 | $2,057 | $2,147,722 |
Pricing & Market Position
Based on 12 recorded transactions, sale prices range from $1,270,000 to $2,380,000, averaging $1,587,574 (~$2,157 psf).
Rents range from $2,600 to $7,500 per month across 141 rental transactions. Current rental yield sits at approximately 3.8%.
Price Appreciation
From 2021 to 2025, the average PSF has appreciated by 11.7% (from $1,986 to $2,218 psf).
Neighbourhood Comparison
The Mercury’s clearest direct competitor in the boutique D10 freehold space is Nathan Residences (PSF ~S$1,776), which offers a comparable development vintage but lacks the TEL MRT proximity upgrade. Studio 3 (PSF ~S$1,750) is similar in scale but older. Among larger D10 developments, Leedon Green (638 units, freehold, S$2,784 psf) and Hyll on Holland (319 units, freehold, S$2,648 psf) offer newer builds at a significant premium — the buyer choosing between them and The Mercury is typically choosing between scale-of-facilities-and-newness versus boutique privacy at lower entry cost. D’Leedon (1,703 units, 99-year leasehold from 2010, S$1,855 psf) is the volume anchor of the district, offering leasehold security at a lower PSF but with the trade-offs of a mega-development layout and an ageing lease clock.
For investors specifically, The Mercury’s 3.76% gross yield is meaningfully higher than Leedon Green’s typical 2.8–3.0% yield on a higher capital base. The freehold tenure also removes the lease decay discount that D’Leedon buyers must eventually contend with. The practical exit question — whether a 67-unit boutique can clear at market speed in a downturn — is the one constraint that prevents a straightforward “buy over the alternatives” recommendation. For patient investors or long-term owner-occupiers, the calculus is clearly favourable.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| THE MERCURY | Freehold | 2012 | 67 | $2,157 |
| SKYE AT HOLLAND | 99 yrs lease commencing from 2024 | 2025 | 666 | $2,946 |
| LEEDON GREEN | Freehold | 2021 | 638 | $2,785 |
| D'LEEDON | 99 yrs lease commencing from 2010 | 2014 | 1,703 | $1,858 |
| HYLL ON HOLLAND | Freehold | 2021 | 319 | $2,648 |
| FOURTH AVENUE RESIDENCES | 99 yrs lease commencing from 2018 | 2021 | 476 | $2,465 |
ShiokNest Scores
Our proprietary scoring system evaluates THE MERCURY across multiple dimensions.
What Residents Say
“A very cool place, with very cool residents. Private, quiet, and you get good natural breeze. The pool area is one of my favourite spots — open, well-maintained, and overlooks the gardens. For Orchard living, this is unbeatable value.”
— Resident review via 99.co
“Sophisticated and serene. Ideal for families and those who want luxury and quiet close to shopping. The management is responsive and the development feels exclusive without being pretentious.”
— Resident review via Singapore Expats (8.5/10)
“Kitchen is very small — cooking is a challenge. Good for single occupants or a couple with one young child. If you cook often, you’ll want to renovate. Otherwise, location is hard to beat and the building is well-kept.”
— Resident review via PropertyGuru
Across review platforms, the pattern is consistent: residents prize the privacy, maintenance quality, and Orchard-adjacent convenience, with the compact kitchen layout being the most commonly cited functional frustration. Singapore Expats rates The Mercury 8.5 out of 10, positioning it as recommended for professionals, small families, and both Asian and Western expats seeking quiet central living.
Strengths & Weaknesses
- Freehold tenure in District 10 — no lease decay concern
- Boutique scale (67 units) — uncrowded facilities, private community
- Great World MRT (TEL) ~760m — material improvement since 2022 TEL opening
- Three TEL stations within 1.1 km — Orchard, Orchard Blvd, Great World
- PSF ~S$2,218 vs newer D10 launches at S$2,600–2,945 psf
- Gross yield 3.76% — strong for freehold D10 asset
- Infinity pool with penthouse roof garden Jacuzzi
- Quiet residential lane despite Orchard-adjacent address
- Multiple premium supermarkets within 1 km (FairPrice Finest, Cold Storage, Jasons)
- Strong international expat rental demand from Orchard/Robertson Quay corridor
- Thin transaction volume — 12 sales total, exit liquidity imprecise
- Compact kitchen layout in all units — renovation spend likely required
- Limited facilities vs larger developments (no tennis, no function rooms)
- Only 67 units — price discovery harder, comparable sales scarce
- No current active listings (as of 2026) — may require off-market approach
- Land area 23,607 sqft — compact site, limited landscaping depth
- Facilities package basic relative to PSF level compared to peers
Verdict
The Mercury occupies a defensible niche in the D10 market: freehold tenure, boutique scale, and a walkable TEL MRT connection, at a PSF that remains meaningfully below the district’s large-development averages. At S$2,218 psf (trailing 12 months), it sits at a discount to newer D10 launches like Skye at Holland (S$2,945 psf) and Hyll on Holland (S$2,648 psf), while sharing the district’s freehold premium over leasehold options like D’Leedon. For an investor, the 3.76% gross yield on a freehold D10 asset is respectable — particularly given a rental pool that skews toward international professionals and expats who prioritise proximity to the Orchard and Robertson Quay corridors.
The development’s main constraint is its size. At 67 units, transaction volumes are thin — only 12 sales transactions in total, which makes price discovery imprecise and exit liquidity a legitimate concern for short-to-medium-term investors. The flip side is that this same thinness keeps the community tight-knit and the facilities uncongested. For owner-occupiers, this is an asset; for investors requiring confident mark-to-market pricing, it demands patience.
The TEL’s completion has materially improved the value case since the development was first positioned in 2012. Anyone who purchased at launch (when MRT access was considerably weaker) has benefited from both the PSF appreciation trend and the infrastructure uplift. Looking forward, the remaining challenge is that boutique freehold D10 stock increasingly competes against larger, newer launches at higher PSF — buyers choosing between The Mercury at S$2,218 psf and a fresh D10 project at S$2,600+ psf are really choosing between existing freehold value and new-build finish quality. For the right buyer, The Mercury wins comfortably.