Amid gloomy market conditions, the public preview of the project by CapitaLand drew over 4,000 prospective buyers to its sales gallery over the weekend of 13 and 14 July 2019. What makes One Pearl Bank so popular? Below are some of our observations.
1. Unique design
One Pearl Bank is a redevelopment of the iconic horseshoe-shaped Pearl Bank Apartments that was sold in a collective sale for $728 million in February last year.
Designed by multi-award-winning Serie+Multiply, the new development pays homage to its iconic predecessor. It comprises two curved 39-storey towers that are connected at the roof by sky bridges.
Featuring a total of 774 apartments, One Pearl Bank will offer a vast array of unit types from studio to penthouses, with sizes ranging from 430 sq ft to 2,800 sq ft.
2. Unblocked views
At 178 metres, One Pearl Bank is set to be the tallest residential development within the Outram-Chinatown district, offering unblocked views that extend from the Central Business District to Sentosa for most of its residents.
CapitaLand noted that the development’s slender, curved facades create an airy and light effect, providing residents and onlookers ample space “to look out and through the towers to admire the stunning views atop the hill”.
3. Attractive lifestyle amenities
One Pearl Bank’s ample community spaces and green features, which include the world’s first vertically arrayed allotment gardens in a residential development and seamless integration with the adjacent Pearl Hill’s City Park, could be another draw.
Each tower will feature an allotment garden for every four storeys, with each garden having 11 plots where residents can grow herbs, fruits and vegetables. Overall, the development will boast 18 sky allotment gardens and almost 200 plots.
4. Central location
Prospective homebuyers were attracted to One Pearl Bank’s prime city-centre location with excellent connectivity to three MRT lines and three highways
Scheduled for completion in 2023, the development will enjoy excellent transport connectivity. One Pearl Bank is a three-minute walk via a sheltered linkway from Outram MRT Station, a triple-line interchange station serving the East-West Line, North-East Line and upcoming Thomson-East Coast Line.
It is also linked to two highways, namely Central Expressway and Ayer Rajah Expressway. One Pearl Bank’s completion will follow the opening of the Thomson-East Coast Line, making the commute between home and Shenton Way, Marina Bay and Orchard even more convenient for residents.
5. Pricing threshold
Lastly, units at One Pearl Bank starts at under $1 million, which is often seen as an attractive pricing threshold for urbanites looking to own a home in a mature estate.
More than two-thirds of the 774 units are priced below $2 million each. A wide selection of unit types from studio apartments to penthouses is available, ranging from 431 square feet for a studio apartment to 2,788 square feet for the largest of four penthouses.
Word on the street says that many of its prospective buyers include former Pearl Bank residents.
Bookings for One Pearl Bank will start this Saturday, 20 July 2019.
While you’re here, see what properties are for sale in the Outram area. Or, read our handy property buying guides to help you own a property.
Fiona Ho, Digital Content Manager at PropertyGuru, wrote this story. To contact her about this or other stories, email fiona@propertyguru.com.sg
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