The Landmark New Launch Condo Review – Direct access to CBD and a Green Oasis

TL;DR This city fringe new launch project is tucked away on the edge of a green oasis but with the bounty of amenities of Chinatown and the CBD close by. Most importantly, it’s the combination of psf price, quantum and location that should pull in the buyers.

• Project Name: The Landmark

• Location: Chin Swee Road (District 3)

• Developer: Landmark JV Private Limited (MCC Land (Singapore) Private Limited, ZACD Group Limited, SSLE Development Private Limited)

• Architect: Swan & Maclaren Group Limited

• Site Area: 3,846 square metres

• Tenure: 99 years lease commencing from 28 August 2020

• TOP (Expected): March 2025

• Residential Units: 396 (Single block of 39-storeys)

• Parking Lots: 321 lots (315 basement lots, 2 open carpark lots, 4 accessible lots)

• Nearest MRT: Chinatown (550 metres, 7-minute walk)

• Primary Schools within 1km: River Valley Primary School

• Other schools nearby: Outram Secondary School

Indicative Pricing, Unit Mix and Maintenance Fee

Developer Profile and Track Record

The Landmark is jointly developed by ZACD Group Limited, MCC Land (Singapore) Private Limited and SSLE Development Private Limited, forming Landmark JV Private Limited.

MCC Land, a subsidiary of Metallurgy Corporation of China Limited, is ranked among the top 10 real estate developers in Singapore by BCI Asia Top 10 Developer’s Award. For the past 5 years, MCC Land has participated in the development of multiple projects including  mixed-use developments, condominiums and executive condominiums. Other recent residential developments by MCC Land include The Alps Residences (2019), Northwave (2019), The Poiz Residences (2018) and The Santorini (2018).

ZACD Group Limited was established in 2005 to work with developers on real estate developments through innovative and value-added solutions for their clients. Throughout the years, ZACD Group has achieved strong and impressive track records amongst their clients in the real estate industry.

SSLE Development is a property development arm of Sin Soon Lee Realty Company (Malaysia) Private Limited. Sin Soon Lee Realty has developed a few mixed-use development projects, including Taman Makmur, Wisma Shun Li, Taman Mutiara and Taman Megah.

Location Analysis

The Landmark is the redevelopment of Landmark Tower, a condominium that underwent a collective sale in May 2018. The Landmark’s city fringe location, on elevated ground along Chin Swee Road, is a unique one.

One of the best perks of living in The Landmark, which rises to 39 storeys, is the panoramic city views residents can get on the higher floors of southeast facing units that look across Pearl’s Hill City Park, as well as unblocked views from northwest facing units that look towards Robertson Quay.

In fact, on the highest floors, residents can see as far as the Greater Southern Waterfront and the Straits of Singapore, and views extend for many miles as there’s literally no other high-rise to block the view from The Landmark.

For families, there are also ample schooling options. The Landmark is within a 1-kilometre radius from River Valley Primary School. A secondary school, Outram Secondary School is just a 250-metre walk away via the rear gate of the condo. There are also three preschools and kindergartens nearby: My First Skool, Kinderland Preschool, Cambridge Preschool and Mindchamps Preschool.

And although the location is lush and tranquil. Residents need not worry about daily necessities. Re! Hotel next door has a chinese restaurant, for starters. A supermarket is a 350-metre walk away at Pearl’s Hill Road, and this marks the start of an entire stretch of neighbourhood shops, kopitiams, department stores and the enormous People’s Park Complex hawker centre en route to the heart of Chinatown and Chinatown MRT.

In fact, Chinatown MRT interchange and the popular Chinatown Point shopping mall is just a 650 metre walk from the entrance of The Landmark, which is about an 8 to 9 minute walk. From Chinatown MRT, residents of The Landmark have all the city’s amenities within easy reach, as well as major CBD employment nodes such as Raffles Place and Marina Bay.

Not forgetting health and wellness, the Pearl’s Hill City Park is located right beside The Landmark while the Singapore River promenade and Fort Canning Park 550 and 900 metres away respectively. If the condo’s gym doesn’t suffice, Energia Fitness Club, Orangetheory Fitness Robertson Quay, Byst Yoga, Tirisula Yoga as well as Yoga+ Pagoda Street are a few minutes’ walk away.

Meanwhile, the Singapore General Hospital (SGH) is located 800 metres down south from The Landmark. With the transformations of SGH into the largest medical campus in Singapore as well as the development of dedicated pedestrian connectivity within the compounds, residents can look forward to easy access to holistic world-class healthcare facilities.

In addition, residents of The Landmark will be spoilt for choice when it comes to nightlife, dining and leisure spots because this condo is sited right at the midpoint of 3 popular districts: Tiong Bahru, Robertson Quay and Clarke Quay. A short 5-minute car journey will also take residents to Great World City and Orchard Road.

Speaking of journeys by car, the Central Expressway (CTE) runs behind the rear northwest frontage of The Landmark, and the expressway links residents easily to the popular Orchard area and Ayer Rajah Expressway (AYE), which also means accessibility to places like Buona Vista, Harbourfront, offices at Alexandra and the future Greater Southern Waterfront.

District and Area Price Trend

District 3 in the Rest of Central Region (RCR) extends westwards from Outram Park, and The Landmark is located near to the Core Central Region districts of 1, 2, 6 and 9. With that being said, if we look at the price trend within a 500-metre radius of The Landmark, it’s difficult to paint an accurate picture because prices vary widely depending on which direction you look at, whether it’s towards Orchard and River Valley or towards Tiong Bahru.

 

Hence, for the purposes of useful comparison, we’ve handpicked a few District 3 condos for comparison that we feel are reflective of The Landmark’s location. But first let’s take a look at how the old Landmark Towers (completed in 1985), as well as how the now demolished Pearl Bank Apartments (now One Pearl Bank) and two other old developments in the vicinity had performed through the years.

 

As we can see, the former Landmark Tower’s price point was in line with prices for comparable condos through the years. Even though Pearl Bank Apartments was closer to an MRT station compared to Landmark Tower, the nine-year difference in age meant that Landmark Tower commanded a higher per square foot (psf) price with the exception of a few years.

More importantly, Landmark Towers fully participated in the property upswings and downswings in the past few decades right up to its en bloc sale in May 2018. Hence, it’s reasonable that The Landmark will do the same, and that prices will appreciate with the broader market down the road. (In fact, Landmark Towers’s upswing in the 2006-2008 property boom was also the most rapid.)

If we split District 3 up into three sections according to geography and analyse past price performance, we also see that the area closest to the CBD, where The Landmark is located, has performed the best over the long-run.

 

 

The Landmark Condo Site Analysis

The 3,846 sq m site sits on the land that used to be Landmark Tower. Situated in between Pearl’s Hill City Park and a small cluster of mid-rise HDB flats with an 80-metre separation across Chin Swee Road, residents have very good privacy, especially for park facing and higher floor units.

The Landmark also provides stunning unblocked views for residents staying on the higher floors. In fact, there’s a very significant price jump for units located above the Level 14 amenities deck because the 15th floor is where the really good views begin for every stack.

The southeast-facing stacks orientate towards the CBD and for many buyers this is the preferred facing. Units on the higher storeys can look beyond Pearl’s Hill City Park to stunning views of the city skyline and even enjoy a glimpse of fireworks displays on National Day or the New Year.

In addition to a greenery view, the lower floors of the southeast-facing stack also get to enjoy the view of the condo’s infinity pool, and that’s also very good. For your information, all three-bedders in The Landmark belong to this facing.

The southeast-oriented stacks facing Pearl’s Hill City Park is also undoubtedly the quieter facing, because the northwest frontage is along the CTE. This section of the CTE is semi-underground and the developer has indicated that it will use laminated windows on the stacks facing the CTE to further reduce noise levels. Together with noise-absorbing curtains that owners can install, the noise level inside the unit can be suppressed very well especially when the windows are closed.

But of course buyers’ concerns are justified, and there are a number who have to step inside the completed unit to believe it. Adding on to the fact that the CTE-facing stacks will have some exposure to the west afternoon sun especially from March to October, it’s fair that the developer has priced these stacks about 5% to 6% lower in psf terms, compared to the park-facing units.

The Landmark Condo Facilities

The Landmark comes with a wide range of condo facilities with the exception of a tennis court. With more people engaging in recreational activities, the ample spaces and facilities provided across five different levels is something to look forward to.

 

Starting out with the bottom level, which is named The Grand Arrival, outdoor activity facilities such as cycling track, a running track as well as a kids playground, providing good leisure options for residents if they wish to stay within the condo compound. But we feel that the driveway circling around the entire level is a bit of an outdated design and makes the facilities on this level less conducive for enjoyment.

We had to do a double-take because the Genset looks like a multi-purpose court for sports. The latter would definitely definitely have been a nice addition and would make this condo even more attractive for families. The BBQ pits at the corner of the site also look a bit isolated because it’s disconnected from the other facilities due to the driveway, and it would’ve been a better experience for guests if it was seamlessly connected to facilities such as the swimming pool, a garden or the playground.

 

The Splash Zone on the second level looks more impressive than the collection of facilities on the first. The centrepiece here is a huge space allocated for a 50-by-10 metre infinity pool with aqua lounges and sun decks lining at the side. The infinity pool also has an aqua sports area for a good workout, and the greenery backdrop of Pearl’s Hill City Park will be very soothing

Overall, the variety of pools at The Landmark makes sure nobody is left out, whether you’re doing laps or just lazing around, comfortably accommodating a large number of swimmers while each group and individual has the privacy they need, which frankly is a pretty important thing when dressed in swimwear.

 

There’s even more relaxation in store for residents on Level 14, which starts to offer a glimpse of the city skyline above the park’s hilltop. Residents can soak in the Jacuzzi Aqua Spa or relax in the steam rooms located on this level. Also on this level are wellness spaces such as the Pilates Terrace and the Sky Gymnasium, and we’re happy that the gym here is actually pretty good-sized.

 

There are more spaces to mingle on the 34th level, The Social, with well-equipped lounges are open for the residents to host gatherings over cuisine. These lounges are specially located on the higher levels for residents to enjoy the million-dollar view from The Landmark, no matter which level their units are on. The developers have also thoroughly allocated a changing room on the same floor for the convenience of the lounge users.

 

The Peak, located at the top of the building, offers even more dramatic views of the city skylines, Downtown Core, Singapore River and many other places while at the same time being a place of serenity especially at night. We love that this space is open-to-sky and I think many residents will be loving this space.

The Landmark Unit Layout and Floor Plan Analysis

Buyers of The Landmark will get to choose between 4 layouts if they are looking at one-bedders: A1, A2, A3 and A4. Although the configuration of these one-bedroom units are not to different that of one another, the floor area actually ranges from 495 to 517 sq ft so quantum sensitive buyers just tend to go for the one with a lower square footage because the size difference isn’t really perceptible.

Looking at the layout, what we instantly like about these one-bedroom units is how the living room is wide enough to accommodate a three-seater L-shaped sofa, which is a rarity in one-bedroom units.

We also like that the developer has included cabinetry from the kitchen all the way to the entrance foyer, and the exterior will be in a neutral white laminate finish. The kitchen will include a tall unit storage which is seldom seen in one bedder units and together with ample countertop space this kitchen is very good for singles or couples who love to cook.

Although there’s probably a lack of space for a proper dining table within the unit, the very generously-sized 2.9 by 1.75-meter balcony allows the placement of a four-seater dining table. Within the unit, a bench-style dining table against the opposite wall of the kitchen is more realistic. Another perk of the one-bedroom units is that they come with a bathroom that can either be accessed from the living room or the master bedroom, and the plus point of this is of course the fact that it allows guests to use the bathroom without having to enter or see the owner’s private bedroom space.

Because of the double access, the master bedroom is also sized larger than usual, and the shower stall is very good-sized. All bedrooms at The Landmark also come with full-height, built-in sliding door wardrobes that have a nice mirrored, semi-transparent finish, as opposed to the matte finish we often find in most other developments.

 

One thing to note is that because of the positioning of the air-con ledge, the windows in the master bedroom aren’t wall to wall, but this may be a good thing as it offers the room for additional ceiling height storage in the master bedroom.

Honestly, compared to the other spaces in this unit, the master bedroom is a bit compact especially considering the wardrobe appears to protrude into the sleeping space. A queen bed might make things a little more spacious.

Ranging from 678 to 764 square feet, there are 5 different layouts for the 2-bedroom units for buyers to choose from: B1, B2, B3, B4 and B5. All two-bedroom units come with two bathrooms, one of which is the master ensuite, and quite surprisingly the living area and balconies are slightly smaller than the one-bedder (but they’re still good-sized and functional). A plus point that’s not accurately reflected in the floor plan is also how the two-bedder kitchens come with a four-zone Miele induction hob, whereas a lot of new launches nowadays only provide a two-zone hob for the kitchen.

In particular we like the 678 sq ft B1 configuration as this is the dumbbell layout that gets rid of the usual corridor space leading to the bedroom. B1 also happens to belong to Stack 08, which is the quieter park and city view facing, so there’ll definitely be a fair bit of interest for this unit and units below the 9th floor have all been snapped up at the time of writing.

 

 

 

The dumbbell layout of the B1 two-bedder definitely optimises the interior space. What is good about this layout is also how the dining and living room area is essentially split, and allows the owner to even place an 8-seater dining table, although we’d recommend an extendable dining table to optimise the space when guests are not in the house.

The living room is also a highlight because placing a long 3.5 seater sofa here is possible, and this is something we don’t usually see in two-bedroom new launch condos nowadays. There are a lot of possibilities and flexibility to the use of living and dining space in this particular unit, especially for the more social couple or family who love having guests over.

One thing about the dumbbell layout is that both the master bedroom and the common bedroom directly face the living and dining areas. While this saves space overall, some owners might prefer that the bedrooms, especially the master bedroom, be more segregated via a corridor.

The layouts in B2 and B3 are more conventional two-bedroom layouts with the familiar corridor in the middle of the unit. The thing that stands out is that the dining area here is a bit of a squeeze and can realistically only seat up to five, but the living area is still very decently sized.

 

 

The common bedroom can fit a queen bed comfortably, which is great. For those who love natural light, do note that the common bedrooms of B1, B2 and B3 two-bedders will get less because of how the AC ledge is located right outside the common bedroom. Because of this, the window is half-height and doesn’t go from wall to wall, but fortunately the master bedroom does have full-height, wall-to-wall windows.

The remaining two-bedroom layouts of B4 (762 sq ft) and B5 (753 sq ft) is irregular shaped, which could put off some buyers at first. However, the extra square footage does translate to a bigger kitchen, and the plus point is that the kitchen can be enclosed for heavy cooking. We also like the dining area, which can accommodate a circular dining table and owners who want more storage will love the wall space available here.

 

 

One thing that particularly sticks out for B4 is that it’s the stack with the most west sun exposure, especially for the bedrooms. The bed This can be remedied through the installation of solar film insulations which can dissipate heat quickly.

What’s great about B4 and B5 is how, unlike the other 2-bedder configurations at The Landmark, the AC ledge is not directly outside any of the bedrooms. Hence, all the bedrooms in B4 and B5 are of full-height, and the master bedroom has the added perk of wraparound windows that provide a wider angle of view.

The three-bedroom units, which both face the park come in 2 slightly different layouts (C1 and C2) with areas of 1076 and 1141 square feet respectively. Both layouts for the 3-bedders include an extra balcony in the master bedroom, with a squarish shape that’s very functional. The difference between C2 and C1 is that C2 has a larger kitchen and additional study, which we’ll talk about later, as well as a yard and WC.

All the three-bedders layouts have a private lift in each unit, and there’s a private lobby that reveals the glass-partitioned kitchen space once the lift door opens. There’s also no additional main door to enter the house, so the private lift access doesn’t really live up to its name of being ‘private’, we feel.

We quite like the kitchen space in the three-bedroom, which also links to a yard and WC. The kitchen itself receives a good dose of natural light thanks to its glass partition, and owners can choose to install a glass door to enclose the kitchen if they wish. There’s Miele domino hobs comprising of a two-zone induction and a single-zone gas wok burner, and a whole wall comprising of full-height storage, double-door fridge, steam oven and wine chiller that make the three-bedder look the part. The exception is the sink; we believe the developer should’ve scaled up the size of the kitchen sink according to the units, but this only about a few centimetres wider than the sink you’d get in one-bedders.

 

 

The living and dining areas of the three-bedder are actually more compact than that of some of the two-bedder layouts. At about five-metres wide, this space is sufficient to put a sofa and long dining table as the floor plan illustrates. In the show unit, the developer has decided to place the dining table on the balcony itself, which is great because units come with balcony screens that allow the balcony to feel like an interior space.

Perhaps the most striking thing about the C2 three-bedder configuration is the inclusion of a very good-sized study within the unit. Measuring about 4.6 square metres, the study also comes with a wall-to-wall half-height window, although this window is inward facing and doesn’t provide much angle of view, it does let in a good dose of natural light to this space and allows it to function as a guest bedroom with a single bed.

For the show unit, the developer demonstrates that the study can be reconfigured such that the entrance is via the bedroom. This is great because owners can choose to use the space as a private study or walk-in wardrobe (especially since there isn’t a lot of wardrobe space in the master bedroom).

Overall, it’s unbelievable that for only an 65 square feet in additional floor area on paper, C2 offers the owner so much more in terms of space and utility within the unit. At the time of writing, prices for C2 three-bedroom units (Stack 7) start from $2,704,000 for the 15th floor unit, while prices for C1 (Stack 11) start at $2,246,000 for a second-floor unit and the 15th floor unit costs $2,356,000. For the same 15th floor, C1’s psf price is $2,365 vs C2’s $2,370.

Appliances, Fittings and Flooring

Cooking fanatics can look forward to luxurious Miele kitchen appliances, including combination convection and microwave ovens (for one- and two-bedders), a steam oven for three-bedroom units, and concealed refrigerators for all units. A Miele washer-cum-dryer and Franke kitchen sinks come with each unit as well. The 3-bedroom units have the added bonus of the double-door fridge as well as both induction and gas stoves. Owners of the 3-bedroom units can also look forward to the Miele wine chiller and steam oven specially installed in the kitchen.

Sanitary fittings from renowned European brands Gessi and Duravit are also used. All units come with quartz kitchen countertops and soft-closing hinges by Blum.

For flooring, 1-bedroom and 2-bedroom units come with porcelain tiles with marble accents in the living area, with the exception of units on the top floor and the 3-bedroom units that come with marble flooring. Meanwhile, all bedrooms come with engineered timber flooring.

Comparative Analysis: The Landmark vs New Launch Condos

 

There aren’t many new launch condos left in the vicinity of The Landmark. Right off the bat, the closest new launch competitor to The Landmark is very obvious, and that is One Pearl Bank by Capitaland. Both are right next to Pearl’s Hill City Park and are within walking distance to MRT stations, although One Pearl Bank is nearer.

As for proximity to the CBD, The Landmark is closer to Raffles Place, whereas One Pearl Bank is nearer to Tanjong Pagar. Although the two developments are 300 metres apart, One Pearl Bank is considerably pricer in psf terms.

Another two new launch condos to compare are Avenue South Residences and Riviere. The latter justifies its premium price with a higher-end positioning and a riverfront location along Singapore River, whereas Avenue South Residences is slightly more affordable compared to The Landmark because getting to the MRT station involves a short bus ride.

Avenue South Residences also offers ultra-high rise living, rising up to 56 storeys compared to The Landmark’s 39 storeys. This also means that psf prices for Avenue South Residences are skewed slightly higher, because there are units with a high floor level premium.

Here’s a comprehensive comparison chart between the four new launch condos:

 

Buyers who are focused on quantum play will definitely be focused on The Landmark and Avenue South Residences, whose one-bedders come in below $1.2 million. However, these buyers should be concerned about liveability as well, because the cheapest units at The Landmark directly face the CTE. Buyers could also be swayed by the lower maintenance fees of Avenue South Residences.

While weighing the pros and cons, buyers should also be concerned about the number of units within a development. Avenue South Residences, which is a mega-project with over 1,000 units, will present a very different living environment compared to the 396-unit The Landmark. Of course, being a larger condo, Avenue South boasts more facilities, so it’s a trade off in some ways.

Amenities-wise, the Landmark is also within walking distance to the thriving Chinatown and its MRT interchange as well as being near Clarke Quay and Robertson Quay. In fact, we foresee many expat renters commuting to and from The Landmark and the CBD via e-scooter. In the meantime, access to most amenities from Avenue South Residences require a bus or car ride.

Now, there are several reasons why buyers would compare One Pearl Bank with The Landmark and consider paying One Pearl Bank’s price premium. Firstly, One Pearl Bank’s one- and two-bedders are larger in floor area. Second is the shorter walk to the MRT and being at the doorstep of the future commercial hub that will come up atop the Outram Park MRT interchange.

Also, One Pearl Bank is a high profile development with an iconic stature because of its striking architecture and association with the former Pearl Bank Apartments, so buyer’s willingness to pay the price premium for a unit at One Pearl Bank is driven by both rational and emotional factors and this has resulted in a higher number and percentage of units sold for One Pearl Bank, compared to The Landmark.

One notable detail for buyers is that The Landmark has almost two extra years of lease compared to the other three new launch condos. But this is a minor difference and what’s more important over time is the quality of the condo’s upkeep and maintenance.

Comparative Analysis: The Landmark vs Resale Condos

As we spoke about, there’s relatively few resale alternatives that the buyer can consider that are in the vicinity of The Landmark but we feel that developments along the Singapore River can be worth comparing against, such as the 99-year leasehold River Place nearby where one-bedders have been transacting for around $1 million.

Bear in mind, however, that the lease for River Place started way back in 1995, meaning a quarter of its lease is already up. Meanwhile, freehold options nearby are considerably more expensive affairs with the cheapest being Mirage Tower (completed in 1996) where one-bedders are transacting in the $1.2 million range.

So we have to look a bit further for new resale condos to compare against. Tiong Bahru’s Highline Residences, which was recently completed in 2018, is a 500-unit, 99-year leasehold condo with plenty of amenities within walking distance, although a trip to the CBD isn’t possible on foot.

The 506 sq ft one-bedroom units at Highline Residences, which are styled as a studio, are currently fetching $1.1 to $1.2 million. For two-bedders, a high floor, 700 sq ft unit transacted for $1.55 million in March this year. Three-bedroom units at Highline Residences that come with psf price that’s about 7 to 8% lower at time of writing. And at price of around $2 million and under, is more affordable than The Landmark’s.

 

However, there’s a big catch: With the exception of three-bedroom premium units, common bedrooms at Highline Residences are far smaller than average and can only accommodate a single bed. All the two-bedders at Highline Residences also come with only one bathroom.

So, in many ways, The Landmark comes out on top versus both new launch and resale condos, and in many cases it’s because the trig-factor of quantum, psf price and location is simply far superior and cannot be matched. And the developers and architect of The Landmark, by and large, did an excellent job with the layouts and maximising space within each unit type.

Future Development and Upside 

The area immediately surrounding The Landmark may look a bit nondescript but things could well change in the long-run. The first catalyst will be the completion of Havelock MRT station on the Thomson-East Co, which is slated for 2022 and will be located about 800 metres away from The Landmark.

The government has already been planning for the addition of further housing in the area, as current vegetation and forested areas around Havelock are zoned as residential sites ‘Subject to Further Planning’ in the 2019 URA Master Plan. The land parcel next to it on which a hotel now sits is also similarly zoned, and future condos that set new price benchmarks will benefit The Landmark’s resale value.

Meanwhile, the HDB flats that are currently opposite The Landmark are also ageing and likely to make way in time to come. This redevelopment could happen in about 15 to 25 years time when the age of these flats are about 65-75 years of age, and is a move that can really rejuvenate the area.

Then there’s also a vast parcel of land atop Outram Park MRT interchange the size of Raffles City, and the URA has already zoned this as a White Site. A white site the most highly-valued out of all zoning types and we will likely see a large-scale, mixed-use development complete with Grade A offices, a large shopping mall and perhaps even a hotel. Such a development will surely boost resale values of condos in the vicinity. Moreover, this future hub at Outram Park is just one bus stop away from The Landmark, via bus 174.

When the Outram hub is developed, there will be even more incentive for tenants to rent a unit at The Landmark, especially those who work in the SGH Campus. Even considering the fact that there are a number of residential plots zoned around Outram Park that look like they might provide competition for tenants, we foresee the condo to sustain a rental yield for its owners simply because The Landmark and One Pearl Bank are considered first movers in the area, and The Landmark is more affordable with the lower quantum out of the two.  Rental demand will come from the CBD, new offices at Outram Park and the SGH Campus as well.

The Landmark: Own Stay vs Investment

Relatively speaking, The Landmark makes a better investment case than Avenue South Residences and One Pearl Bank. For a quantum that’s about 1 to 3% higher, The Landmark will in all likelihood fetch a 7 to 10% higher rent than Avenue South Residences because of its superior location and accessibility to Chinatown and the CBD. And while One Pearl Bank could fetch a higher rent of 5% to 7% because it’s closer to the MRT, its quantum exceeds The Landmark by double digit percentages, so the choice is pretty clear for investors in favour of The Landmark.

As for how much rent a one-bedder unit at The Landmark might fetch, we feel that it might be in the $2,800 to $3,300 range depending on the facing and floor level, and this is a conservative estimate factoring in current rent levels at River Place and Highline Residences. Future developments and the state of the economy could further boost rents, which have currently bottomed out and appear ready for a rebound.

In general, we feel that one-bedders at The Landmark will give a gross rental yield of 3% onwards, whereas two-bedders can perform even better with a gross rental yield of 3.2% onwards given a rent in the range of $4,300 to $5,000.

For quantum-conscious investors, three-bedrooms are pretty pricey given the quantum is above $2.2 million, but these units can still comfortably obtain a gross rental yield of 3% or above if the presence of ABSD isn’t a deterrent.

That said, with all three-bedroom stacks being quiet park- and pool-facing units, with stunning city views from the higher floors, we’d say that these large units will prove a bigger draw with for-own-stay buyers.

The Landmark: An unmissable opportunity?

Ultimately, it’s super rare that a new launch condo this close to the CBD is on the market at the low-end of the $2,000 psf spectrum. In fact, there’s nothing else that’s comparable from a price versus location perspective in the red-hot property market of 2021.

Best of all, this development offers buyers a best of both worlds, especially if they pick a quiet facing unit: quick access to the vibrant Chinatown and CBD when they step out of the house as well as a home environment that’s as tranquil as it can get this close to the city.