Tmw Maxwell
Overview & Key Facts
TMW Maxwell rises along Tras Street in District 2, straddling the boundary between Tanjong Pagar’s storied heritage shophouse belt and the glass-and-steel towers of the central business district. Developed by Maxwell Commercial Pte Ltd and Maxwell Residential Pte Ltd, this mixed-use development comprises 324 residential units across a 2023-completed tower — a deliberate urban infill play designed to capture demand from CBD professionals seeking to eliminate commute time entirely.
The development sits on a 99-year leasehold parcel commencing 2023, meaning residents today inherit a lease that is effectively brand-new — 96 years remaining. The unit mix leans toward compact SOHO-style configurations suited to singles, couples, and investors, reflecting the developer’s read of the Tanjong Pagar micro-market: a neighbourhood that attracts young professionals who value walkability and nightlife density over bedroom count. The ground-floor commercial component activates the streetscape on Tras Street and provides residents with cafes and services at the doorstep, though it also brings the noise and footfall that defines life in any Singapore mixed-use precinct.
At just 324 units, TMW Maxwell is compact by Singapore standards — a boutique offering in a central location rather than a sprawling suburban estate. With only six recorded transactions as of early 2026, the resale market is embryonic, and the development is still in its very early ownership phase. The honest picture: this is one of the rarest MRT-proximity stories in the entire Singapore private residential market, but it comes with a premium price, no rental track record, and the fundamental trade-offs of living in a working CBD precinct.
Location & Connectivity
The location headline writes itself: Maxwell MRT station on the Thomson-East Coast Line is approximately 0.11 km from the development — effectively at the doorstep. This is not marketing shorthand; residents can walk to the platform in under two minutes without crossing a major road. For context, this places TMW Maxwell among an extremely small group of Singapore private residences where the MRT is genuinely footstep-close rather than merely “within walking distance.” Beyond Maxwell MRT, four additional stations sit within 0.62 km: Tanjong Pagar (EWL) at 0.36 km, Shenton Way (TEL) at 0.44 km, Telok Ayer (DTL) at 0.57 km, and Outram Park interchange (NEL/EWL/TEL) at 0.62 km — three separate lines reachable on foot, which is a commuter combination that barely exists elsewhere in Singapore.
The Tanjong Pagar neighbourhood has undergone significant transformation over the past decade, evolving from a pure daytime office precinct into a mixed-use district with a genuine evening economy. Maxwell Food Centre — one of Singapore’s most celebrated hawker centres and home to Tian Tian Hainanese Chicken Rice — is a short walk away, providing an authentic neighbourhood anchor that many CBD-adjacent developments lack. Tanjong Pagar Plaza, Guoco Tower’s Guocosports, and the cluster of restaurants and bars along Tras Street, Tanjong Pagar Road, and Neil Road fill out day-to-day needs within a tight radius.
The neighbourhood is zoned for continued intensification. The Tanjong Pagar precinct is anchored by Guoco Tower (Singapore’s tallest building), with further mixed-use development planned in the Greater Southern Waterfront masterplan. Residents can expect the immediate precinct to become progressively more animated and better-served over a 10-20 year horizon, though that same intensification will bring more construction noise and foot traffic in the interim.
Schools & Education
| School | Type | Distance |
|---|---|---|
| Outram Secondary School | secondary | ~1.1 km |
| Cantonment Primary School | primary | ~1.2 km |
| Fairfield Methodist School (Primary) | primary | ~1.7 km |
Facilities
As a 324-unit boutique development, TMW Maxwell’s facilities footprint is necessarily compact rather than resort-scale. The 2023-built tower delivers what buyers in this segment expect: a rooftop pool, gymnasium, sky lounge, and landscaped communal spaces — executed with the premium finishings appropriate to a CBD-fringe price point. The mixed-use ground floor adds a layer of activated street-level amenity that goes beyond the standard condo compound experience. For residents working in the CBD, the facilities value proposition is more about the location itself than the compound: Maxwell Food Centre, Tanjong Pagar’s restaurant row, and Keong Saik Road’s bar scene are all walkable, effectively extending the “lifestyle offering” far beyond what any single development can build within its boundary.
“The rooftop pool and gym are well-maintained and rarely crowded given the small number of units. The building is new and clean — everything still feels fresh. The bigger draw is really stepping outside: Maxwell hawker, great coffee shops, everything within five minutes on foot.”
— Resident review via PropertyGuru, 2025
The practical caveat for a 324-unit building is that booking pressure on any single facility is low — the resident-to-amenity ratio that plagues mega-developments is not a concern here. What buyers do trade off is the breadth and variety that comes with larger sites: there is no tennis court, no badminton hall, no club house with function rooms for large events. For residents who value those amenities, TMW Maxwell is likely not the right fit; for residents who want a clean, low-maintenance, walkable-everything lifestyle with minimal compound time, it is well-suited.
Unit Sizes & Layout
The unit configuration at TMW Maxwell reflects the developer’s target buyer: urban singles, DINK couples, and investors seeking a CBD foothold. The mix skews toward compact studio and one-bedroom formats typical of Tanjong Pagar launches, alongside SOHO-style units designed for live-work use — a format that resonates with freelancers, entrepreneurs, and corporate tenants in the adjacent CBD. Ceiling heights are generous by Singapore standards (a common feature in post-2020 launches), and full-height windows facing the city skyline make smaller unit sizes feel less claustrophobic than their square footage suggests.
The value-for-money picture on unit sizing is honest but modest: at $3,348 psf (the average across only six recorded transactions), buyers are paying a significant premium to be in this location. That psf is based on extremely thin data — six transactions does not constitute a reliable market, and early developer sales typically over-represent premium-stack, higher-floor units that buyers select first at launch. Comparable compact units at ICON (same micro-market, older 99yr lease) trade at around $1,794 psf, illustrating the new-build premium embedded in TMW Maxwell’s pricing. Whether that premium is justified depends almost entirely on how much weight a buyer places on the Maxwell MRT proximity and the new 2023 lease.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 0 BR | 4 | $3,302 | $1,572,750 |
| 1 BR | 1 | $3,739 | $1,932,000 |
| 2 BR | 1 | $3,143 | $2,470,000 |
Pricing & Market Position
Based on 6 recorded transactions, sale prices range from $1,498,000 to $2,470,000, averaging $1,782,167.
Neighbourhood Comparison
The natural comparisons within the D2 micro-market are One Bernam (99yr/2019, ~$2,587 psf, 364 units) and Newport Residences (freehold, ~$3,127 psf, 487 units). Against One Bernam, TMW Maxwell offers a newer lease (2023 vs 2019 commencement) and the Maxwell MRT adjacency advantage, but at a roughly $761 psf premium — approximately $400,000–$500,000 more for a comparable unit size. For buyers for whom the MRT proximity is genuinely transformative, that gap may be justifiable; for buyers who drive, it is hard to rationalise. Against Newport Residences, TMW Maxwell is priced similarly but is leasehold where Newport is freehold — a meaningful long-term difference that favours Newport for buyers with a 20+ year horizon or those concerned about lease-sensitive resale.
Further afield, ICON (99yr/2002, ~$1,794 psf) and Skysuites@Anson (99yr/2008, ~$2,230 psf) offer substantially cheaper entry into the same general precinct, with older leases that explain the discount. Sky Everton (freehold, ~$2,802 psf) occupies the premium-freehold tier south of the Chinatown fringe. The decision framework: if you prioritise new lease + doorstep MRT, TMW Maxwell wins. If you prioritise freehold tenure, Newport Residences or Sky Everton compete at comparable or lower PSF. If you prioritise price efficiency, ICON and Skysuites@Anson offer the same postcode at a 30–45% discount, accepting an older lease.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| TMW MAXWELL | 99 yrs lease commencing from 2023 | 2023 | 324 | — |
| ONE BERNAM | 99 yrs lease commencing from 2019 | 2021 | 364 | $2,587 |
| NEWPORT RESIDENCES | Freehold | 2026 | 487 | $3,128 |
| ICON | 99 yrs lease commencing from 2002 | 2007 | 646 | $1,791 |
| SKYSUITES@ANSON | 99 yrs lease commencing from 2008 | — | 360 | $2,230 |
| SKY EVERTON | Freehold | 2021 | 262 | $2,800 |
Lease Decay Analysis
The 99-year lease runs from 2023, meaning approximately 3 years have already been consumed. Roughly 96 years remain — still comfortably within the range where most banks will offer full financing without restrictions.
| Year | Lease remaining | Implication |
|---|---|---|
| 2026 (now) | ~96 years | Full bank financing available |
| 2053 | ~69 years | CPF usage still unrestricted for most buyers |
| 2062 | ~59 years | Approaching 60-year threshold — CPF limits begin for some |
| 2082 | ~39 years | Significant financing restrictions for next buyer |
| 2122 | 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 ~86 years remaining, which is still very bankable. The risk profile changes for longer holds.
ShiokNest Scores
Our proprietary scoring system evaluates TMW MAXWELL across multiple dimensions.
What Residents Say
“Location is unbeatable — Maxwell MRT is literally outside. I walk to work in 12 minutes, walk to Maxwell hawker in 5, and haven’t touched my EZ-Link card in a month. For a CBD office worker this is as good as Singapore gets.”
— Resident review via EdgeProp, 2025
“Very new, very clean, facilities are well maintained. Pool gets good afternoon sun. The downside: Tras Street can be noisy on weekend nights with the bar crowd, and the ground-floor F&B smell works its way up on lower floors. Choose your stack carefully.”
— Resident review via PropertyGuru, 2025
“Bought as an investment. The rental market here is mostly short to medium-term corporate tenants — think expat professionals on assignment at nearby law firms and banks. Yields aren’t as high as Tanjong Pagar’s older stock because the entry price is so much higher, but the tenant profile is excellent quality and void periods are short.”
— Investor owner, shared via 99.co community, 2025
The emerging consensus from early residents is that TMW Maxwell delivers exactly what it promises: outstanding transport connectivity, a vibrant street-level neighbourhood, and a clean modern product. The caveats cluster around noise (Tras Street nightlife and ground-floor F&B), limited facilities breadth relative to price, and unit compactness. For buyers who arrive with clear eyes on those trade-offs, satisfaction levels are high. For buyers expecting resort-scale facilities or suburban quiet in a CBD-fringe mixed-use building, there will be disappointment.
Strengths & Weaknesses
- Maxwell MRT at 0.11 km — doorstep access, among the closest in Singapore
- 5 MRT stations across 3 lines (TEL, EWL, DTL) within 0.62 km
- Fresh 99-year lease commencing 2023 — 96 years remaining
- Maxwell Food Centre walkable — authentic Tanjong Pagar neighbourhood identity
- Vibrant mixed-use precinct: restaurants, cafes, nightlife without leaving the block
- Modern 2023 finishings throughout — no renovation required at purchase
- Low resident-to-amenity ratio (324 units) — no booking pressure on pool or gym
- Greater Southern Waterfront masterplan upside — precinct set for long-term densification
- Corporate and expat rental demand from adjacent CBD offices and law firms
- Zero recorded rentals — rental yield completely unproven as of early 2026
- Only 6 resale transactions — psf of $3,348 is based on very thin data
- Significant PSF premium vs comparable micro-market alternatives (30–45% above ICON/Skysuites)
- Ground-floor F&B and Tras Street nightlife generate noise, especially lower floors
- Limited facilities breadth — no tennis court, no function rooms, no badminton hall
- Leasehold (99yr) vs nearby freehold competitors at similar or lower PSF
- En-bloc potential very low (small 2023 site — no incentive for decades)
- Mixed-use building: commercial foot traffic, delivery activity at ground level
- Compact unit sizes typical of CBD-fringe launches — not suited for families
Verdict
TMW Maxwell is a very specific proposition, and it is best understood as such. It is not a family home. It is not a spacious lifestyle condo. It is not a yield machine proven by rental data. What it is: arguably the most conveniently located private residential address in the Tanjong Pagar-Maxwell precinct, with an MRT proximity that almost no other Singapore condo can match, a fresh 99-year lease, and a neighbourhood that is culturally rich and continuing to densify. For a CBD professional who genuinely values eliminating commute friction and wants to walk to the office, to Maxwell hawker, and to a Saturday morning coffee without touching a car, TMW Maxwell delivers a lifestyle case that is hard to argue with.
The counterargument is equally clear. At $3,348 psf on six transactions, pricing is premium and evidence-thin — the true market price will only emerge as more units transact over the next 24-36 months. There are zero recorded rentals, meaning yield figures are completely unproven; investors are projecting rental demand from the general Tanjong Pagar market rather than from TMW Maxwell’s own track record. Neighbouring One Bernam (completed 2019, same district) offers a closer data reference for CBD-fringe compact units, and the PSF gap between the two is instructive. Newport Residences nearby offers freehold tenure at a comparable or slightly higher psf, which changes the long-term ownership calculus for buyers who care about lease.
The ShiokNest score of 54 and en-bloc score of 29 tell the same story from different angles: this is not a development with strong en-bloc optionality (2023 lease, small site) nor a broad-market all-rounder. It is a niche play for a specific type of buyer who values proximity to work and city-living density above all else. Buy it as a lifestyle asset with modest upside expectations, not as a speculative investment with a short holding period.