• Yasmin Beevi
  • 31 August 2016

City Developments Limited (CDL) is a Singapore-listed international property and hotel conglomerate managing properties in 91 locations across 25 countries in Europe, Australia, New Zealand, North America, Asia and the Middle East. CDL boasts a global land bank of almost 7.2 million square feet comprising residential, retail, hotel, office and industrial space.

Project Name: One Shenton

Address: Shenton Way

Site area: Approx. 41,715 sqft

Tenure: 99 years from 14th October 2005

District: 1


341 residential units

11 retail units

Unit types:         

142 1-bedroom units (517 – 1,001 sqft)

113 2-bedroom units (904 – 1,227 sqft)

54 3-bedroom units (1,485 – 1,604 sqft)

21 4-bedroom units (1,787 – 2,271 sqft)

11 sky suites & villas (5,199 – 9,085 sqft)

Parking lots: 377 normal lots

6 handicap lots

TOP: March 2011

Project Details

One Shenton is a 352-unit mixed development located along Shenton Way. At time of writing (July 2016), only the bigger units are available – 4-bedroom units, sky suites and sky villas.

one shenton building


The project is a twin tower residential development with retail space on the first storey. Tower One consists of 50 storeys and Tower Two is 43 storeys tall. For interested buyers, the units are available for viewing by appointment only.

Source: Developer

Source: Developer

The site plan of the lobby.

one shenton cafe lobby


There are F&B units at the lobby level which make it very convenient for residents.

one shenton lobby


There’s a receptionist to help with any concierge services you may need at the grand lobby.

Source: Developer

Source: Developer

The site plan of the club level at level 8.

one shenton pool


The lap pool.

one shenton lounge


one shenton lounge 2


one shenton library


The lounge areas and library on the club level.

one shenton lawn


one shenton cabanas


one shenton bbq


There is also a lawn area on the club level with an outdoor barbeque area and cabanas to lounge around in. The space is perfect for family gatherings and parties.

Source: Developer

Source: Developer

one shenton gym


The sky gym.

one shenton digital lock


All units come with a digital lockset for the main entrance door.

Source: Developer

Source: Developer

Cabinets with solid surface countertops and sinks come with the kitchen. Appliances provided include a built-in oven, a gas cooker hob and hood, a washer cum dryer and an integrated refrigerator all from Miele. Two to five people could move around in it at any one time, if need be.

Source: Developer

Source: Developer

The living room is much more spacious than your average one.

one shenton balcony view


The view from the balcony. Residents can catch a glimpse of the Esplanade through the skyscrapers and the sea straight ahead.

Source: Developer

Source: Developer

Bathroom fittings are from the Villeroy & Boch, Dombracht Alape and Hansgrohe Axor collections. Master bathrooms come with a bathtub and are designed in the ‘his and hers’ concept.


Buyers of One Shenton are likely to be owner-occupiers who like the location and investors looking to lease. An estimated 70% of buyers are Singaporeans and Permanent Residents.

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Located in the Downtown Core within the Central Business District (CBD) of Singapore, Raffles Place features some of the tallest skyscrapers in the nation. Shenton Way is a major trunk road in the CBD, most known for the commercial buildings flanking both sides of the road.

Source: Google Maps

Source: Google Maps

Getting there: One Shenton is located along Shenton Way, a short walk away from Raffles Place MRT and Downtown MRT. Shenton Way links up with the arterial Nicoll Highway and the Marina Coastal Expressway (MCE) on the other end.


Raffles Place MRT is about a 7-minute walk away. From there, the next stop is City Hall MRT, where you have Raffles City Shopping Centre, Esplanade and Suntec City. Dhoby Ghaut MRT is two stops down and from there, the Orchard Shopping Belt is not far off.


The estate: One Shenton is essentially located in the heart of the Singapore CBD. It is surrounded by mostly commercial developments and a handful of residential ones.

Source: Developer

Source: Developer

Situated in the middle of all the ‘action’ so to say, One Shenton offers residents accessibility to several nearby amenities including malls, food centres, business hubs and parks.


Source: Google Street View

The nearest bus stop is along Raffles Quay, right in front of One Raffles Quay and opposite Hong Leong Building. There are many bus services so getting to any destination shouldn’t be too hard.


As for school options, there are a few reputable ones nearby.



International Schools:

  • Overseas Family School
  • International School Singapore

one shenton raffles place mrt exits


This is a list of all that is within walking distance of One Shenton.

one shenton more buildings


Surrounding the gold-coloured One Shenton, you have mostly commercial office-space buildings.



For your food concerns, Lau Pa Sat Festival Market is directly across the road.

dining, beverage, coffee


For a quick coffee run, Starbucks is right around the corner – at Hong Leong Building.

Source: acm.org.sg

Source: acm.org.sg

History buffs, you’ll be delighted to know that the Asian Civilisations Museum is but a short walk away. The ArtScience Museum along the Marina Bay Sands stretch is about a 10-minute walk away.



The iconic Gardens by the Bay is right next door (well, almost). It is perfect for an evening stroll or even for a dinner out.

Source: esplanade.com

Source: esplanade.com

For your arts and entertainment needs, Esplanade – Theatres on the Bay is literally a 2-minute drive away. If you prefer to walk, it will take you roughly 10-15 minutes.

For golfers, Marina Bay Golf Course is a 5-minute drive away.

As for healthcare needs, Singapore General Hospital is a 5-minute drive away. There are several general and specialist clinics within the CBD itself.

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Caveated transactions for Skyline Residences at time of writing (Apr 2016) stands at 216. Recorded transaction prices range from $941K to $4.869M, with an estimated 49 percent of the transactions coming in at $2M or below (see Chart 1).

Sales Transactions

Source: PropertyGuru, URA

Source: PropertyGuru, URA

Source: URA

Source: URA

One Shenton’s closest competitor would be the upcoming V on Shenton, located about 100m away, also along Shenton Way. Launched in 2012, its median price is $2,141 psf to One Shenton’s median of $1,934 psf. This price differential is due to the very different market conditions at time of launch for both projects. Residents at V on Shenton are also likely to be owner-occupiers and investors who like the project’s location in the CBD.

Units at V on Shenton range from 1-3 bedroom units and penthouse units while One Shenton consists of 1-4 bedroom units and penthouse units.

To have a clearer picture, we will be looking at 3-bedroom and 1-bedroom units in particular, across both developments. According to caveats, One Shenton’s 3-bedroom units have a median price of $2,075 psf while V on Shenton’s is $2,049 psf. Transactions for the units at One Shenton range from $2.36M to $4.1M, and between $2.65M and $3.913M for V on Shenton.

As for 1-bedroom units, One Shenton’s have a median price of $1,909 psf while V on Shenton’s is $2,658 psf. Transactions for the units at One Shenton range from $880K to $2.2M, and are between $1.157M and $1.493M at V on Shenton.

Before deciding based on these numbers alone, we should look at unit sizing as well. The 1-bedroom units at One Shenton are generally larger, with floor areas ranging from 517 sqft to 1,001 sqft. At V on Shenton, they range are either 484 sqft or 506 sqft. With the 3-bedroom units however, V on Shenton has the bigger ones. They are between 1,356 sqft and 1,765 sqft. At One Shenton, they range from 1,485 sqft to 1,604 sqft.


Future Rental Potential

To understand what rental prices will be like for One Shenton, we need to look at rental prices for other projects in the area.

The current median rental price for projects in District 1 (Raffles Place / Cecil / Marina / People’s Park) is around $5.39 psf per month at time of writing, based on rental transactions for the past 4 quarters. The current median rental price for units at One Shenton however, is around $4.78 psf per month. At these rates, a 3-bedroom unit around 1,604 sqft at One Shenton would go for around $7,700 a month. With the median price for the unit being around $3.275M, the annual gross rental yield at the current rate would be an estimated 2.8%.

For investors holding on to 1-bedroom units, rental price for a 1,001 sqft unit at the current rates would be an estimated $4,800 a month. With the median price for the unit being around $1.151M, annual gross rental yield would be around 5%.

The median unit size of a 3-bedroom at V on Shenton, on the other hand, would probably fetch around $10,100 a month at today’s rental rates. This translates to around 3.8% in annual gross rental yield. A 1-bedroom unit at V on Shenton would go for an estimated $2,900 a month, meaning a 2.7% rental yield too.

According to the estimated figures, rental yield seems to differ with the unit types. 1-bedders have a higher rental yield at One Shenton, but V on Shenton comes out on top for the 3-bedders. The choice of nearby amenities differs slightly with the projects being just 100m apart. V on Shenton will be nearer to the upcoming Shenton Way MRT and Tanjong Pagar MRT, however.

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Location is obviously the biggest factor for One Shenton. Being situated right smack in the middle of the CBD definitely has its perks. The project is a short drive away from major landmarks including the Orchard Shopping Belt, Gardens by the Bay and the Marina Bay Financial District.

Residents will appreciate the easy access to major expressways like the AYE, MCE and CTE as well as the proximity to entertainment hubs like the Marina Bay Integrated Resort and Marina Bay Shoppes.

The one drawback that comes with living in the CBD, is the lack of educational institutions nearby. The nearest schools are within a 2-kilometre radius – Cantonment Primary School, Outram Secondary School and Singapore Management University.

Investment potential for the project is very high with almost all its units sold, and many even being currently rented out. If you’re in the market for a unit in the Downtown Core of Singapore, One Shenton may be worth taking a look at.

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Eric Wong

Yasmin Beevi

Yasmin has been exploring show flats with her family since young and enjoys coming across interesting designs and offers. When she’s not at the office or on a site visit, she’s probably out trying new types of food with friends, at the theatres engrossed in a movie or occasionally, enjoying herself overseas.