NEW LAUNCH REVIEWS
ONE-NORTH EDEN
Considering One-North Eden as your next home or investment property?
Check out our unbiased analysis of this new launch condominium in 2021!
OUR VIDEO
REVIEW
Scroll down for our full text review of One-North Eden!
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Location & ACCessibility
When we discuss the location factor, we look closely at the region, accessibility and area transformation.
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Region
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Located in District 5, at 8 and 10 Slim Barracks Rise and just 5 minutes’ walk from one-north MRT, One-North Eden (ONE) is the latest New Launch Condominium within the one-north business hub. Within 1km of one-north MRT, there has been no other new condominiums for the past 10 years. The region is likely to experience further growth in the future, and we will explain more under Area Transformation section later.
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Accessibility
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For transport and connectivity, there are immediately two MRT stations that are close to One-North Eden. One-north MRT is 5 minutes’ walk away, while Buona Vista MRT and Interchange station is approximately 9 minutes’ walk away.
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For families, you would be thrilled to know that there are many good schools nearby. Just to name a few, there are Anglo-Chinese School (Independent), Anglo-Chinese Junior College, Fairfield Methodist Secondary School, Fairfield Methodist Primary School, and Tanglin Trust School. National University of Singapore is also just an MRT station away.
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When it comes to amenities and shopping needs, Rochester Mall and The Star Vista are within minutes’ walk. Timbre+, an urban food park with a variety of food options, is also just less than 10 minutes’ walk away. If you want even more options, Holland Village is also just an MRT station away. Orchard district is a quick 15 minutes’ drive away, and of course there are many buses in the vicinity that take you to town area conveniently too.
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Area transformation
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In our review of Normanton Park, we spoke about the Greater One-North transformation. As One-North Eden is located right inside the Greater One-North cluster, it is key to understand the significant growth and impacts that the area transformation will continue to bring.
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Since 2001, the government has been pumping in great amounts of funds into our technological and innovation industries. In fact, from 2020 onwards, they will be putting $25billion into R&D over the next 5 years (RIE2025) and the One-North cluster will definitely be the focus of our technological research and advancement. With this transformation, it is estimated that there will be approximately 120,000 jobs, with big names like Walt Disney, Razer, Grab already setting up their headquarters there.
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All these will create and fuel higher demand for housing in the area. There are currently 4 existing condominiums in the area, and even with the addition of One-North Eden and the two other new launches Normanton Park and Kent Ridge Hill Residences, there will be around 4000 units in total. Thus, there is likely to be an under-supply of private housing in the area.
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A few minutes’ walk from One-North Eden, there will also be a new commercial building called Rochester Commons, which is undergoing construction right now and targeted for complete in 4Q of 2021. Rochester Commons will be Singapore’s first campus-style integrated development — the massive project (400,000 sqft project will feature a Shared Executive Learning Centre, a 135-room upscale Hotel, Office, a sky garden and an amenities deck. This is a pretty exciting addition to the one-north region.
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The easy accessibility, variety of amenities in the immediate area, and significant growth opportunities in the Greater One-North highlight how great the location of One-North Eden is. Hence, we find that this gives us more than ample reason to give its location factor a rating of 4.5/5.
development quality & facilities
One-North Eden is a small-sized, mixed-used development, featuring 2 towers of 165 residential units in total, ranging from 1- to 4-bedroom apartments, and 6 commercial shops including dining options.
The developer is TID Pte. Ltd., which is a Joint Venture (JV) of Hong Leong Group and Mitsui Fudosan. Hong Leong Group is a very experienced and reputable developer in Singapore, while Mitsui Fudosan is one of the largest private developers in Japan. Together, TID Pte. Ltd. has built many notable residential projects in Singapore — just to name a few, ST. Regis Hotel Residences, Optima @ Tanah Merah, Brownstone EC and ForestWoods at Serangoon.
Past Projects: The Brownstone EC, The Jovell, ForestWoods
How about the facilities provided?
As a small-sized development, it is only natural that there is a more limited selection of facilities built inside the project. However, residents can expect the standard condominium facilities that they need — such as pool, gym (in fact, a cantilevered gym!), barbecue pavilions, function room, clubhouse, sundeck and playground. Although the entire development is not massive in terms of size, the swimming pool will still be a 50m lap pool (which is less common for small-sized developments). On the first level, there will also be 6 commercial shops, which will include restaurants as well. In terms of provisions, residents can expect Bosch appliances and smart home systems in the units.
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One interesting point about One-North Eden is also the way the building will be constructed. As some of us might know, in Singapore, there are two main ways to construct buildings. One would be the PPVC method, which is known as Prefabricated Prefinished Volumetric Construction. Prefabricated Prefinished Volumetric Construction (PPVC) is a construction method whereby free-standing 3-dimensional modules are completed with internal finishes, fixtures and fittings in an off-site fabrication facility, before it is delivered and installed on-site (think “lego” style of building).
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However, One-North Eden will also be utilising the Cast-in-Situ building method for its superstructure. As opposed to PPVC, this is a more traditional way of building, whereby concrete is poured, moulded and cured directly on site. While both methods have their unique advantages, utilising the in-situ method would mean there is a high level of strength and also a high level of sound insulation. This is a plus point for the overall structure quality of One-North Eden.
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For car owners, do note that the carpark at One-North Eden is not one-to-one provision, but 80% provision, which includes a total of 132 lots, 3 handicapped lots and 3 commercial lots. There will also be a dedicated washing bay and an EV charging station, making it easier for car owners who are transitioning from petrol cars to electric cars.
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Given the developers’ reputation and quality experience, and also factoring in the plus and minus points when it comes to facilities, we rate it a score of 3.5/5 for this section.
COMPETITIVE
PRICING
At the point of writing this review, there has not been a firm pricing released for One-North Eden yet. However, the indicative pricing ranges between $1800-2000 psf. If this pricing holds true, we think that it is a great, reasonable pricing for One-North Eden, and we will explain why next.
For a more meaningful pricing analysis in the region, we will be comparing One-North Eden with new launch competitors in the area, namely Kent Ridge Hill Residences (estimated TOP 2024) and Normanton Park (estimated TOP end 2023), since they will all be ready for move in around a similar time frame in the near future. Kent Ridge Hill Residences is currently priced at $1800-1900 psf, while Normanton Park is currently priced at $1700-1800 psf.
Comparing the locations of these 3 new launch developments, One-North Eden is situated at a more accessible and more superior location than that of the other two developments. Therefore, we feel that although the indicative pricing reflects a slight price premium over the price of Normanton Park, it seems justifiable and fair.
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Quantum of the units
Interested buyers and investors should also take note of the quantum of the units at One-North Eden, which makes the development attractive for those who are more budget-constraint.
A 2-bedder transacted at the existing condominiums around the area, for example, One-North Residences and The Rochester Residences, is around $1.5 - $1.8 million. However, at One-North Eden, according to its indicative pricing, the 2-bedders are starting from $1.3+ million. Thus, for buyers who have a tighter budget and do not mind a smaller-sized 2-bedder, One-North Eden provides a great alternative.
If the indicative pricing of $1800-2000 holds true for One-North Eden, we feel that this is a good price considering its location and competitive assessment, so we will rate this factor a 4.5.
*Do note that price references and sale references mentioned were made at the time of filming this video and writing this review (early April 2021).
POTENTIAL
RENTAL YIELD
Tenant Pool
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As mentioned in the above discussion points, it is obvious that there is a significantly huge tenant pool in the area coming from the working professionals from the One-North business clusters and Science Park. However, that is not all. National University Hospital and Alexandra Hospital are also a few bus stops away, and this further captures the tenant pool of medical staff. For schools, National University and the famous Tanglin Trust School (a British International School) are close by, and this means there are foreign students in the area as well.
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How about the potential rental rates?
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Let's take a look at the rental rates of the existing projects in the area. For Rochester Residences, the 1-bedder rental ranges from $3000-3900 a month, while for One-North Residences, the 1 bedder rental ranges from $2600-3500 a month. To be more conservative in our analysis, we will take the lower end of the rental rates, $2600-3000 a month, to estimate the potential rental for One-North Eden.
Considering the indicative prices for One-North Eden, and taking the conservative rate of $2600-3000 a month for a 1-bedder rental, we will achieve a potential rental yield of 3.1 - 4.2%. If this estimation holds true, it is considered a remarkable rental yield for any project out there. If you were to do the same calculations for the 2-bedder units as well, the potential rental yield also ranges between 3.1 - 4.2%.
Because of the high rental volume in the area and the high potential rental yield that can be achieved even with conservative prices, the rental factor of One-North Eden is very attractive in our opinion.
*Do note that rental transaction prices and references mentioned were made at the time of filming this video and writing this review (early April 2021).
stack
selection
(Click image to magnify)
When it comes to selecting your unit, you have to first choose the stack you want. Do not confuse stack with block. Stack is part of a block, and different stacks have different facing. For example, if your unit is at Stack 8 on level 7, it means your unit number is #07-08. The unit right below you is #06-08 because it belongs to the same stack. Generally, there are some key factors that you need to take note of:
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View from the stack
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North-South-East-West facing / Cardinal direction. For example, you might want to avoid West Sun.
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Noise level. If you are concerned about any potential noise, avoid facing the expressway, carpark, tennis court, bin centres etc. Even if the stack faces any potential source of noise, consider the distance between the block and the source.
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Block-to-block distance
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Layout efficiency. This is more of the unit itself. Ensure there is no wasted space, no irregular layout or corners, good wall-to-wall distance etc.
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Ideal or not ideal?
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After reviewing the stacks based on the aforementioned factors, we have divided the number of stacks into 3 different categories — the not-so-ideal stacks, average stacks and most ideal stacks*. Please refer to the gif below.
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*Do note that this is our opinion based on our experience and not an official classification by One-North Eden.
Ideal stacks — 1, 8, 13, 14 | Average stacks — 2, 3, 9, 10, 11, 12 | Not-so-ideal stacks — 4, 5, 6, 7
In our opinion, when we categorise the average stacks and not-so-ideal stacks, the difference is rather minimal. However, if we were to be very picky, we find stacks 4, 5, 6 and 7 to be not-so-ideal because of two reasons. First, they are directly facing West Sun. Secondly, they are also situated at the corner of One-North Eden and face the traffic junction, so there could be an increased level of traffic noise.
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We hope our review has been useful for you! If you have any enquiries about One-North Eden, or any other projects you are looking at and would like our opinion, do use the contact form below to reach our team.
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