The Tennery

Overview & Key Facts

The Tennery is a 338-unit mixed-use development sitting directly above the Ten Mile Junction LRT station and Bukit Panjang Plaza in District 23 — one of the few condominiums in Singapore that can genuinely claim integrated transit-retail connectivity. Developed by Dollar Land Singapore Private Limited and completed in 2013, it occupies a distinctive position: a compact boutique condo stacked atop a commercial podium, giving residents step-out access to both public transport and daily shopping without leaving the building envelope.

The development comprises 338 units along Woodlands Road, with a 99-year lease commencing from 2010. At roughly 83 years remaining, the lease is comfortable for financing purposes and will not trigger CPF restrictions for another eight years. What makes The Tennery unusual in the OCR landscape is not its size or prestige — it is unambiguously a mid-market, practical development — but its raw yield mathematics. With a median price of S$815,000 and average monthly rent of S$2,881, the gross yield sits at approximately 4.27%, placing it firmly in the top tier of yield-generating condos in Singapore’s suburban ring.

For investors seeking cash-flow-positive or near-neutral rental properties without the quantum burden of central region assets, The Tennery presents a compelling case study. The low absolute entry price, strong rental demand from the Bukit Panjang residential catchment, and integrated transport access create a combination that few OCR developments can match on pure numbers.

Location & Connectivity

The Tennery’s location story is built entirely around one fact: it sits physically on top of Ten Mile Junction LRT station, with Bukit Panjang MRT/LRT interchange station just 340 metres away. This is not “near an MRT” — it is literally integrated with the transit network. The Bukit Panjang interchange serves both the Downtown Line (DTL) and the Bukit Panjang LRT loop, providing direct access to the CBD via DTL and feeder connectivity across the Bukit Panjang–Choa Chu Kang corridor via LRT.

The DTL connection is the real asset here. From Bukit Panjang station, it is roughly 30 minutes to Downtown/Bayfront and 35 minutes to Bugis, all without transfers. For daily commuters working in the CBD or Marina Bay area, this is a viable door-to-desk time that competes with many RCR locations once you factor in actual walking distances at both ends.

Below the residential towers, Bukit Panjang Plaza provides a FairPrice supermarket, food court, clinics, and everyday retail. Hillion Mall, directly connected to Bukit Panjang MRT, adds a more modern retail layer with additional dining options and a rooftop garden. Junction 10 is a short walk further along Woodlands Road. For a suburban location, the daily convenience infrastructure is genuinely strong — residents can handle most errands without getting into a car.

For drivers, access to the BKE (Bukit Timah Expressway) is straightforward via Woodlands Road, connecting to the PIE and CTE network. Jurong East is about 15 minutes by car; Orchard Road roughly 20 minutes in off-peak conditions.

Schools & Education

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

Facilities

Let’s be direct: The Tennery is a 338-unit development above a commercial podium, and its facilities reflect that scale. You get the essentials — a swimming pool, a smaller wading pool, a gym, BBQ pits, a function room, and a landscaped deck — but this is not a mega-condo resort experience. There is no tennis court, no sprawling clubhouse, no themed gardens. The pool deck sits above the commercial floors, which means it is elevated and relatively private, but compact.

What The Tennery trades in on-site recreation, it compensates for with the commercial podium below. The integrated Bukit Panjang Plaza effectively becomes an extension of the development’s amenity set: supermarket runs, quick meals at the food court, clinic visits, and banking errands are all achievable within the same building structure. For time-pressed working professionals or investors furnishing a rental unit, this practical convenience often matters more than a second pool or a tennis court.

Residents note that the facilities are well-maintained but basic. The gym is modestly equipped, and the pool area can feel crowded during peak weekend hours given the limited deck space. For buyers who prioritise resort-style living, this is a clear miss — but for yield-focused investors or practical owner-occupiers, the trade-off is acceptable given the price point.

Unit Sizes & Layout

The Tennery’s unit mix skews toward compact configurations, consistent with its positioning as an accessible entry-point condo. Units range from studios and one-bedrooms through to three-bedroom layouts. The smaller units — particularly the one- and two-bedroom configurations — are the workhorses of the rental market here, and they are designed with efficiency in mind rather than spacious living.

Build quality is functional but firmly mid-market. The development was completed in 2013, and fittings reflect the era and price point — serviceable but not premium. Most investor-owners have furnished units to a practical rental standard without extensive renovation, which keeps the all-in investment quantum low. For own-stay buyers, budget for kitchen and bathroom upgrades if you want a more contemporary feel.

One consideration for higher-floor units: being situated along Woodlands Road, some stacks will have road noise exposure. Stacks facing the internal courtyard or away from the main road are preferable for own-stay comfort, though the noise differential is less of a concern for rental tenants who value the transit convenience.

Pricing & Market Position

Across 139 recorded transactions (all-time), sale prices range from $660,000 to $1,270,000, averaging $852,213.

Over the last 12 months, transactions averaged $1,363 psf.

Rents range from $1,700 to $4,500 per month across 661 rental transactions. Current rental yield sits at approximately 4.3%.

Rental Yield by Bedroom Type

Blended yield hides the spread between unit sizes — smaller units at THE TENNERY 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 20.2% (from $1,143 to $1,374 psf).

Neighbourhood Comparison

The Tennery competes in a District 23 landscape that has seen significant new supply in recent years, but it holds a distinct position on price. Sol Acres, the 1,327-unit mega development at Choa Chu Kang, trades at a similar PSF (~S$1,380) but offers a very different living experience — scale, more facilities, but also more density and a less convenient MRT connection. Midwood (S$1,729 psf) and Dairy Farm Residences (S$1,659 psf) are newer, with fresher leases commencing 2018, and benefit from the Hillview/Dairy Farm nature corridor appeal. The Botany at Dairy Farm (S$2,053 psf) and Lumina Grand (S$1,514 psf) represent the newest supply with 2022 leases.

The critical comparison for investors is not PSF but total quantum and yield. At a median price of S$815,000, The Tennery’s entry cost is substantially below Midwood or Dairy Farm Residences, where comparable units trade well above S$1 million. The rental market in the Bukit Panjang corridor does not reward newer developments proportionally — a two-bedroom at The Tennery rents within 10–15% of a comparable unit at Midwood, despite the 25%+ price gap. This rental-price compression is exactly what makes The Tennery’s yield so attractive.

For own-stay buyers choosing between these options, the decision hinges on priorities. If nature surroundings and a newer product matter most, Midwood or Dairy Farm Residences are superior. If transit integration and keeping housing costs low are the priority, The Tennery remains hard to beat in this corridor.

Lease Decay Analysis

The 99-year lease runs from 2010, meaning approximately 16 years have already been consumed. Roughly 83 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 ~73 years remaining, which is still very bankable. The risk profile changes for longer holds.

ShiokNest Scores

Our proprietary scoring system evaluates THE TENNERY across multiple dimensions.

What Residents Say

“Convenience is the number one selling point. LRT is literally downstairs, Bukit Panjang MRT is a short walk. FairPrice and food court are in the same building. For daily living, you really don’t need a car.”

— Resident review via PropertyGuru

“Facilities are basic but the location more than makes up for it. I rent out my unit and tenants love the transport connectivity. Never had trouble finding tenants.”

— Owner review via EdgeProp

“Units are on the small side and finishings are average. But for the price you pay, it’s hard to complain. The integrated mall downstairs is genuinely useful.”

— Resident review via 99.co

The consistent theme across resident feedback is convenience over luxury. Owners and tenants alike highlight the seamless LRT/MRT access and the integrated commercial podium as the development’s defining advantages. Criticisms centre on compact unit sizes, basic facilities, and road noise on certain stacks — trade-offs that are well-understood at this price point. Investor-owners report strong tenant demand and minimal vacancy, which aligns with the yield data.

Strengths & Weaknesses

Verdict

The Tennery is not a lifestyle condo and makes no pretence of being one. It is, fundamentally, a yield machine — a compact, transit-integrated development that converts low quantum into strong rental returns in a way that very few OCR condos can match. At a median price of S$815,000 and a gross yield of 4.27%, the investment arithmetic is straightforward and compelling. You are buying functional square footage directly above an LRT station, 340 metres from a DTL interchange, with a commercial podium handling your daily needs.

The competitive landscape reinforces this positioning. Sol Acres offers similar PSF but is a 1,327-unit mega development with a different character. Midwood and Dairy Farm Residences command 24–27% PSF premiums. Lumina Grand and The Botany at Dairy Farm sit at even higher price points. The Tennery’s quantum advantage — not just PSF, but absolute price — means lower stamp duty, lower cash outlay, and better yield mathematics.

The lease at 83 years remaining is comfortable for now, but the 75-year threshold arrives in just eight years, which will begin to restrict CPF usage for future buyers. This is not an immediate concern, but it shapes the medium-term exit strategy. Investors on a 5–8 year hold should factor this into their planning — selling before the 75-year mark preserves maximum financing flexibility for the next buyer.

For owner-occupiers who work along the DTL corridor, value practical convenience over resort-style living, and want to keep housing costs low, The Tennery is a quietly excellent option that rarely appears on must-see lists but consistently delivers on the fundamentals. For investors, it is one of the better yield plays in suburban Singapore — simple, boring, and effective.