One Pearl Bank’s last penthouse sells, achieves 100% sale
One Pearl Bank a CapitaLand development that has won awards, is fully sold. The recent sale of the final penthouse unit confirms this. The development boasts 4 penthouse apartments, with the last unit, a spacious, 2,788-square-foot residence at the level 38, selling for $7.1m or $2.547 sq.ft.
The curved shape of both towers is a tribute to the original horseshoe of the Pearl Bank Apartments. It was Singapore’s tallest residential structure when completed in 1976.
The penthouse buyer in this case is a Singaporean. That shows the domestic market’s interest.
This project is only a 5-minute walk from the upcoming Outram Park MRT Station. CapitaLand’s project will include a protected walkway for inclement weather.
The twin 39-storey development with 774 units at the top Pearl’s Hill has been designed by Serie+Multiply. A joint venture between Multiply Architects based in Singapore and Serie Architects based in England.
Outram Park MRT Station has been designated an interchange for North East, East-West, and Thomson-East Coast Line MRT Lines. Accessibility is greatly improved.
See also: The Hill One North
One Pearl Bank with its 178m high will be the highest residential tower within the Outram Chinatown area in Central Singapore.
CapitaLand has purchased the Pearl Bank Apartments formerly leased for 99 years in a deal en bloc in February 2018, at a cost of $728million. It will build a new landmark at the top of Pearl’s Hill, which will be taller that the old Pearl Bank Apartments.
One Pearl Bank had an average selling price of $2.753 per sq. ft. The price range was between $2,430 and $3,009 per square foot.
Singaporeans account for 76.8%. The second largest group was made up of PRs at 16.4%. Foreigners accounted for 6.8%. In July 2019, the project launched. It has taken just over 4 years (about 51 months) for it to be sold out. During the weekend of the launch, 25 percent, or about 160 units, were sold.
CapitaLand showcased J’den a redevelopment JCube, a 40-storey apartment tower. Commercial space is located on the first 2 floors and 368 units are on the uppermost 28 floors. The showflat had more than 7 000 visitors during its first weekend.