One Pearl Bank Review: A Modern Reimagination of the Original



  • Victor Kang
  • 29 July 2020

Project Name: One Pearl Bank

Developer: CapitaLand

Address: 1 Pearl Bank

Type: Apartment

Tenure: 99 years leasehold

District: 03

Configuration: 774 units across 2 x 39 storey towers connected via sky bridges at the roof of each tower

Nearest MRT station: Outram Park MRT

Parking lots: 620 (excluding 5 handicapped lots)

Unit Types: 

140 x Studio (431 sq ft)

175 x 1-Bedroom units (527 to 570 sq ft)

280 x 2-Bedroom units (700 to 893 sq ft)

140 x 3-Bedroom units (1098 to 1281 sq ft)

35 x 4-Bedroom units (1399 to 1432 sq ft)

4 x Penthouses (2626 to 2788 sq ft)

TOP: est Dec 2023

Site Area: 82,376 sq ft

Project Details

One Pearl Bank is a residential development located where Pearl Bank Apartments, a historically iconic building for many Singaporeans, used to be.

As a homage to the original, CapitaLand decided to preserve the iconic horseshoe design of Pearl Bank Apartments for One Pearl Bank. In order to do that, CapitaLand used drone footage and digital drawings stored in data banks to recreate the layout and design of Pearl Bank Apartments. The result is a design that looks modern but one that still retains the same design language of the iconic building.

One of the unique features of One Pearl Bank is the allotment gardens at every four storeys where residents can grow herbs, fruits and vegetables. In total, One Pearl Bank will boast 18 sky allotment gardens and almost 200 plots of garden spaces

While it pays homage to its original design, One Pearl Bank also adds its own modern attributes. For instance, One Pearl Bank was designed to feature as many green spaces as possible. Both towers of One Pearl Bank feature an allotment garden every four storeys where residents can grow herbs, fruits and vegetables. In total, One Pearl Bank will boast 18 sky allotment gardens and almost 200 plots of garden spaces.

Not just that, One Pearl Bank offers an exclusive opportunity to live in an urban setting while still being surrounded by lush greenery. Nestled right next to One Pearl Bank is Pearl’s Hill City Park, making this development the only such development that’s right to this popular park. This offers privacy and exclusivity that not a lot of condos in the area can offer.  

Panoramic view of One Pearl Bank at the heart of the Chinatown-Outram area inDistrict 3

Another iconic attribute of One Pearl Bank is that it will be the tallest residential development in the Outram-Chinatown area when completed. Its towering height and position away from other buildings combine to promise incredible views – residents of One Pearl Bank can enjoy unblocked views from the CBD to Sentosa. 

As a redevelopment of an iconic building, it is no wonder why the response for One Pearl Bank was overwhelmingly high when it first launched. During its opening preview, over 4,000 people turned up at the sales gallery. Out of the 200 units that were launched during its opening weekend, 80%, or 160 units, were sold at an average price of $2,400 psf. These include a mix of studio, 1-bedroom, 2-bedroom and 3-bedroom apartments.

One Pearl Bank unit design:

1-bedroom – 570 sq ft

Whilst it is a 1-bedroom unit, the area is still quite spacious and offers a great space for living for small families.

2-bedroom – 700 sq ft

The 2-bedroom unit is the perfect choice for families with 1-2 children where you can have your own personal space while your children have theirs.

The living room is also spacious enough for daily living as well as for special occasions where you have your family and friends over for a nice gathering.

3-bedroom – 1,098 sq ft

The 3-bedroom unit is an ideal size where you can have a clear distinction between the living room and the dining and kitchen area.

The bedrooms also come with a nice size to let you enjoy your own personal space.

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Location

One Pearl Bank’s central and convenient location is definitely a plus point for those considering purchasing a unit. If you are planning to stay in the apartment, you can rest assured that you will have plenty of amenities that are within walking distance, from food to leisure to schooling options. You also have your own ‘exclusive and private’ backyard garden with the Pearl Hill’s city park located right beside One Pearl Bank.

One Pearl Bank sits on the original site of Pearl Bank Apartments at 1 Pearl Bank. It is just a 5-minute walk (about 450m according to Google Maps)  from the Outram Park MRT interchange station where you can easily commute on the East-West Line (EWL) and the North-East Line (NEL).

By 2021, Outram Park MRT station will be a triple MRT interchange station for the EWL, NEL as well as the upcoming Thomson-East Coast Line (TEL). With such accessibility, getting around Singapore will be a breeze.

Outram MRT station will be an interchange station on the TEL by 2021. Image

Outram Park MRT station will be an interchange station on the TEL by 2021. Image

On top of its connection to various MRT networks, One Pearl Bank is also conveniently located in the Central Area of Singapore, and is a stone throw away from the Central Business District (CBD) and Marina area. If you’re working in the Central Area, you will most definitely appreciate the location of the development as it eliminates long commutes to and fro the city.

Amenities and schools near One Pearl Bank

  • Pearl’s Hill City Park (0.1 km)
  • People’s Park Complex (0.3 km)
  • People’s Park Hawker Centre (0.3 km)
  • Outram Park MRT (0.3 km)
  • Chinatown Hawker Centre (0.4 km)
  • Chinatown MRT (0.4 km)
  • Man Man Unagi, Kok Sen Restaurant at Keong Sai Road (0.4 km)
  • Ka Soh Restaurant (0.4 km)
  • Outram Secondary School (0.5 km)
  • Singapore General Hospital (0.6 km)
  • Chinatown Point (0.6 km)
  • Maxwell Food Centre (0.6 km)
  • Duke-NUS Medical School (0.6 km)
  • Tiong Bahru Bakery (0.7 km)
  • Cantonment Primary School (0.8 km)
  • Far East Square (0.9 km)
  • Amoy Street Hawker Centre (1.1 km)
  • Guoco Tower (1.1 km)
  • Tanjong Pagar MRT (1.2 km)

However, if you look at the latest URA Master Plan, then you’ll notice that there are lots of upcoming commercial and residential developments around One Pearl Bank. This might be good if you plan to buy a unit now and sell it for a profit, but if you’re going to be an occupier, you have to bear with construction activities and noises in the area.

One Pearl Bank location in the URA Master Plan

Above: location of One Pearl Bank and the surrounding developments according to the latest URA Master Plan

Suggested read: How To Understand The URA Master Plan And Make Your Property An Investment

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Summary

Upon completion, One Pearl Bank will continue to shine as one of the iconic residential buildings in Singapore, just like its predecessor. The developer has done a very good job in keeping its unique and iconic design while still making One Pearl Bank stand out from its predecessor.

Needless to say, convenience and location are two of the main selling points of the One Pearl Bank development; it offers the kind of connectivity that most will appreciate. Developed by a renowned developer and located in the Central Area and so close to an MRT station, One Pearl Bank unsurprisingly comes with a premium price. More than two-thirds of the available units are below $2 million each with a wide selection from studio apartments to 3-bedroom apartments.

If you are looking to buy and rent out the apartment, you will probably find a line queuing to view your apartment. Getting your One Pearl Bank apartment rented out shouldn’t be much of a problem. Valuation wise, One Pearl Bank still has plenty to offer. Buyers can look forward to a spike in housing demand in the area upon completion of the Greater Southern Waterfront project a few years down the road. 

Regardless of whether you are buying to rent or for your own stay, One Pearl Bank does offer a very good choice for home buyers. 

 

Looking to buy a unit at One Pearl Bank?

Check out all available units for sale on PropertyGuru now

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Eric Wong

Victor Kang