The Pearl Bank Revival | Singapore Property News

The Pearl Bank Revival

18 Jul 2019
Property News
Going by the definition of revival, which is ‘an improvement in the condition, strength, or fortunes of someone or something’, then One Pearl Bank is the embodiment of a revival.

While we’ve seen many farewells to Singapore’s iconic landmarks such as Big Splash, Rochor Centre and Dakota Crescent in recent times to make way for new developments, we’ve rarely seen a revival of sorts like what we have at One Pearl Bank, that pays homage to the iconic Pearl Bank Apartments.

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You’d likely have heard of the famed Pearl Bank Apartments, which was completed in 1976 and was once Singapore’s tallest residential building, set up in a unique horseshoe shape. Beyond simply being a visual masterpiece, the Pearl Bank Apartments, which housed a total of 288 units, was constructed to serve middle-class residents while rejuvenating the city centre.

If you kept track on the developments of one of Singapore’s iconic residential buildings, you’d know the collective sale was successful on its fourth attempt last year, having been successfully sold to CapitaLand for a grand $728 million, which works out to a land price of $1,515 per square foot per plot ratio after accounting for the lease top-up for a fresh 99-year tenure.

Following the successful takeover, the 82,376 square foot land space will now house the new One Pearl Bank condominium (set to be ready in 2023), which features two 39-storey towers with a total of 774 units consisting of studio apartments to penthouses, to cater to buyers of all sorts.

Interest in the new development is sky high with over 4,000 people showing up for the first public preview of One Pearl Bank last weekend, with remarks that even several residents of the former Pearl Bank Apartments were present to indicate their interest. Be it out of sheer sentiment, or simply because One Pearl Bank has much to offer, you won’t want to miss out on this opportunity to own a little piece of history!

So where is there so much interest in the new One Pearl Bank you might ask?

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Like most developments, the biggest attraction will always be the location. Located between the Outram Park and Chinatown MRT, you’ll be able to easily access both the East-West and North-East lines to get connected to the rest of the city, and also the upcoming Thomson-East Coast line at the future Maxwell station.

Besides the ease of access to public transport, the strategic location of being in the Chinatown and Outram area, which sits close to Singapore’s CBD and Orchard area means one can get to these places with much ease, be it for work or play (approximately 10 to 15 minutes’ drive away).

Closer to home, One Pearl Bank is within minutes of countless shopping and options, like People’s Park Complex and Chinatown Point and don’t even get me started on the numerous dining establishments you can enjoy in this popular estate. It doesn’t hurt also being located close to one of Singapore’s top public hospitals - Singapore General Hospital should you (touch wood!) have any health issues that require immediate assistance.

If you’re one for unobstructed views, then One Pearl Bank is the place for you. Standing at 178 metres, the development will be the tallest building in the Chinatown and Outram area, allowing you to enjoy views of one of Singapore’s culturally iconic areas. Soak in these breath-taking views from the Oculus Sky on the 39th floor (top-level) of the building, which features many outdoor spaces such as the alfresco dining area, skybridge, walking track and outdoor lounge area, amongst the several indoor spaces like the gym, social lounge and gourmet kitchen. You’ll also be interested to know there’s also a Chillax Terrace (how Singaporean) on the 18th floor, featuring an open amphitheatre and entertainment area, and also a Prive Terrace on the 14th floor that has a meditation area and yoga deck.

Holding on to a bit of history, One Pearl Bank development will still maintain its circular structure though not exactly in its original horseshoe look. Instead, the development will feature two curved towers linked together by sky bridges – a perfect way to merge heritage with modern-day aesthetics.

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If your interest is piqued and you’d like to find out more about One Pearl Bank or to enquire or purchase units, you can easily do so by heading over to SRX’s One Pearl Bank listing site here or find out more by getting the Project Insight Report here.
Source: editorial
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