+65 8901 7972
中文 EN
Singapore Commercial Property
返回博客
Reviews 发布于

One Bernam Review

One Bernam Review
Mixed-Use & Commercial Podium Review — District 02

One Bernam

A 351-unit CBD tower with a two-storey retail podium at the western edge of Shenton Way, Tanjong Pagar.

SGCPI Research Desk Updated August 2026 1 Bernam Street, Singapore 078852 99-YR LEASEHOLD FROM 10 DEC 2019

Street-level view of One Bernam, 1 Bernam Street, Singapore 078852. Imagery: Google Street View (user-contributed imagery), accessed August 2026.

Project Overview

Building NameOne Bernam
Address1 Bernam Street, Singapore 078852
DistrictDistrict 02 (Tanjong Pagar / Anson)
Tenure99-year leasehold w.e.f. 10 Dec 2019
Zoning / UseMixed-use — commercial podium (retail/F&B) + residential + serviced apartments
Built Form1 block, 35 storeys — 2-storey retail podium, 13 serviced apartments, 351 residential units above
Land Area / GFA3,846.2 sqm site / 28,001 sqm (≈301,402 sqft) GFA
Completion YearTOP 31 March 2026
Nearest MRTTanjong Pagar (EW15), ≈5-min walk; future Prince Edward Road (CC32)
Key Road AccessAyer Rajah Expressway (AYE), Marina Coastal Expressway (MCE), Keppel Road, Anson Road
Transacted PSF Range≈S$3,600 – S$4,900 psf (retail podium strata)
Sale Price Range≈S$1.1M – S$3.6M per retail unit
Asking Rent Range≈S$11 – S$18 psf/month
Occupier BaseF&B, cafes, convenience retail and personal services serving CBD office workers and on-site residents

Location & Connectivity

One Bernam sits at 1 Bernam Street, at the quieter western fringe of Shenton Way where the Tanjong Pagar conservation shophouse belt meets the modern CBD skyline. It is one of very few new mixed-use sites released in this pocket of District 02 in over a decade, which gives its retail podium a rare “first mover” position among an otherwise built-up office and residential stock.

Tanjong Pagar MRT Station (EW15) on the East-West Line is roughly a five-minute walk via Tras Street and Peck Seah Street, putting Raffles Place one stop away. The future Prince Edward Road Station (CC32) on the Circle Line, expected to complete the CCL loop, will sit around 400 metres from the development and further embed the podium within the daytime office crowd. Drivers reach the Ayer Rajah Expressway (AYE) and Marina Coastal Expressway (MCE) within two to three minutes, with the Central Expressway (CTE) also accessible for cross-island trips.

Within a short walk, the retail podium competes and complements a dense cluster of amenities: 100AM, Icon Village and Amara Shopping Centre for retail, Tanjong Pagar Market & Food Centre and Amoy Street Food Centre for hawker fare, and Cold Storage and FairPrice Finest for daily groceries. The area is also earmarked to benefit from the longer-term Greater Southern Waterfront rejuvenation and the CBD Incentive Scheme, both of which point toward sustained daytime footfall well beyond the current office population.

Location of One Bernam. Map data: Google Maps, accessed August 2026.

Building & Facilities

The development is a single 35-storey tower designed by DP Architects, comprising two levels of ground-floor retail podium, one level of 13 serviced apartments, and 32 levels of residential units above, for a total of 351 homes. The commercial podium spans roughly 15,700 sqft split across shopfront and mall-style units, with frontage onto Bernam Street and connecting pedestrian routes toward Tras Street.

Retail units are generally handed over in shell-and-core or fitted condition depending on unit and lease terms, with M&E works by United Project Consultants and structural design by TW-ASIA Consultants. Loading and servicing for the podium is arranged via a dedicated basement/service area, separate from the residential drop-off, which keeps deliveries away from the main pedestrian frontage during peak hours.

As with any new-TOP mixed development, prospective commercial buyers should independently verify the exact unit boundaries, permitted trades under the URA-approved use, and any restrictive covenants attached to specific podium units before committing, since marketing collateral can lag the final Certificate of Statutory Completion documentation.

Unit Types & Floor Plan Notes

The commercial podium is subdivided into strata retail/F&B lots of varying frontage and depth, rather than uniform floor plates. The four broad formats below summarise what is typically marketed to investors and owner-occupier operators.

Corner Shopfront

≈650 – 950 sqft

Dual-frontage units at podium corners, favoured by cafes and specialty F&B for visibility from two pedestrian approaches.

Mid-Row Retail

≈400 – 650 sqft

Standard single-frontage lots suited to convenience retail, personal care and small services trades.

Level 2 F&B

≈800 – 1,300 sqft

Larger upper-podium units with kitchen exhaust provisions, aimed at full-service restaurant or dessert-bar concepts.

Anchor / End-Lot

≈1,300 – 1,900 sqft

The largest available podium lots, positioned to anchor footfall for the smaller units around them.

Ceiling Height: ≈4.2m (Level 1), ≈3.6m (Level 2)
Frontage: Full-height glazed shopfronts along Bernam Street
Servicing: Rear/basement loading, separate from residential lobby
Handover Condition: Shell-and-core, varies by unit — verify with sales team
Signage: Subject to MCST house rules and URA outdoor signage guidelines

Investment Case

One Bernam’s commercial podium is best understood as a small-format retail play riding on a large, captive residential and office population rather than a standalone destination mall. That framing shapes both its appeal and its limits.

What Works

  • Rare new CBD retail supply — first fresh podium in the immediate Tanjong Pagar / Shenton Way pocket in years
  • Built-in demand base of 351 residential households plus 13 serviced apartments overhead
  • Five-minute walk to Tanjong Pagar MRT with a second interchange (Prince Edward Road) planned nearby
  • Positioned to benefit from the longer-term Greater Southern Waterfront rejuvenation
  • Small strata lot sizes keep individual quantum accessible relative to whole-building CBD retail

What to Weigh Carefully

  • Podium retail depends heavily on weekday office footfall, which softens on weekends and holidays
  • Small strata lot sizes mean thinner rental pools and less negotiating leverage per unit
  • 99-year lease from 2019 means resale buyers 15–20 years out will face a shorter remaining term
  • Direct competition from 100AM, Icon Village and Amara Shopping Centre within a short walk
  • Trade mix and tenant quality are still unproven at this early stage post-TOP

Who This Suits

The podium suits investors seeking a lower-quantum entry into CBD-fringe retail rather than a whole-floor office or industrial play — typically individuals or small syndicates comfortable holding a single F&B or convenience-retail unit for rental income. It also suits owner-operators of cafes, specialty food concepts or personal-care services who want CBD footfall without the rent burden of a ground-floor unit in an established mall. It is less suited to buyers who need large contiguous floor plates, heavy-vehicle loading access, or a use class outside retail/F&B and permitted commercial trades.

Frequently Asked Questions

What can the commercial units at One Bernam actually be used for?
The podium at One Bernam is zoned for commercial use, principally retail, food & beverage and permitted service trades that support the residential and office population above and around it. As with any URA-approved mixed development, the exact permitted use for each unit is set out in the title documents and the project’s planning approval, not simply by convention. Prospective buyers or tenants should check the specific use class attached to their unit — some lots may carry restrictions on kitchen exhaust, hours of operation, or trade type — before signing an option to purchase or a lease. Verifying this with the developer’s sales team or a conveyancing lawyer early avoids costly surprises around renovation or fit-out approval later.
Can foreigners buy the commercial retail units at One Bernam?
Yes. Unlike landed residential property, commercial and retail units — including strata shop units within a mixed development like One Bernam — are not restricted under the Residential Property Act, so foreign individuals and foreign-owned companies can generally purchase them without prior government approval. This is one of the reasons CBD strata retail is popular with overseas investors seeking Singapore exposure without the additional buyer’s stamp duty layered on residential purchases. That said, buyers should still confirm financing eligibility with local banks, since loan-to-value limits and interest rates for foreign buyers of commercial property can differ from those offered to Singapore citizens and permanent residents.
Does Additional Buyer’s Stamp Duty (ABSD) apply to these retail units?
No. ABSD in Singapore applies specifically to residential property purchases and does not extend to commercial or industrial units, including the retail and F&B lots within One Bernam’s podium. This is a significant structural advantage over buying a residential unit in the same building, where second-property buyers and foreigners face substantial ABSD rates on top of the purchase price. Buyers should note, however, that if the same buyer also purchases a residential unit elsewhere or within this development, ABSD would apply to that residential portion separately. It is always worth confirming current ABSD rules with a conveyancing lawyer, since rates and exemptions are periodically revised by the Ministry of Finance.
Is Seller’s Stamp Duty (SSD) a concern when reselling a commercial unit here?
Commercial property in Singapore, including retail strata units, is not subject to Seller’s Stamp Duty, which currently applies only to residential property sold within a specified holding period. This gives commercial buyers at One Bernam more flexibility to exit early if market conditions or tenancy circumstances change, without the additional cost layer residential sellers face. That flexibility is a genuine point in favour of the commercial podium versus the residential units in the same tower. It does not, however, remove ordinary market risk — a quick resale could still mean transacting below purchase price if demand for the specific unit or trade type has softened since acquisition.
How is Buyer’s Stamp Duty (BSD) calculated on a One Bernam retail unit?
BSD for commercial property follows the same tiered schedule used for residential and other property types, currently rising from 1% on the first S$180,000 of value up to 6% on amounts above S$3 million, based on the purchase price or market value, whichever is higher. For a typical podium retail unit priced in the low seven figures, this can translate into a meaningful five-figure sum payable at the point of purchase. BSD is payable regardless of buyer nationality or number of properties owned, unlike ABSD. Buyers should factor this into their total acquisition cost alongside legal fees, and confirm the prevailing rates with IRAS or their conveyancing lawyer, since the schedule is subject to periodic revision.
Will I need to pay GST on a commercial unit purchase at One Bernam?
Generally, the sale of commercial real estate by a GST-registered developer is subject to Goods and Services Tax, which is typically built into the quoted purchase price rather than charged separately, though buyers should always confirm this explicitly in the sale and purchase agreement. GST does not apply to the transfer of bare residential property, which is one structural difference buyers moving from residential to commercial investing should note. If the unit is later leased out, GST may also apply to rental income once the landlord’s taxable turnover crosses the registration threshold. It is advisable to engage an accountant or tax adviser to confirm GST treatment specific to your purchase and intended use before committing.
How does the 99-year lease affect financing compared to a freehold unit?
Banks generally cap loan tenure so that the remaining lease at loan maturity meets a minimum threshold, and loan-to-value ratios can taper as a leasehold property ages, particularly once the remaining lease approaches 60 years or below. With the lease at One Bernam running from December 2019, the property is presently well within a comfortable financing window, and most buyers today should not face restrictive terms. The consideration becomes more relevant for buyers planning to hold for several decades or for future resale buyers, who may find financing terms less generous as the lease shortens. Comparing indicative loan quotes from two or three banks before committing is a sensible step for any leasehold commercial purchase.
What rental yield can investors realistically expect from the podium units?
Small-format CBD retail and F&B units in comparable Tanjong Pagar developments have historically traded in a gross yield range of roughly 3% to 4.5%, though actual outcomes depend heavily on unit position, trade mix and the strength of the surrounding footfall once the tower is fully tenanted. Corner and ground-floor units with strong frontage typically command a premium and correspondingly firmer yields than upper-podium or less visible lots. As a newly completed development, One Bernam’s podium does not yet have a substantial rental transaction history, so early yield figures should be treated as indicative rather than proven. Prospective investors should stress-test their assumptions against a conservative occupancy rate rather than a best-case scenario.
How does the building’s age factor into a long-term hold?
One Bernam is a newly completed development, having obtained TOP in March 2026, which means buyers are acquiring a building with a full runway before major mechanical, cooling or facade upgrading works are typically required — often 15 to 20 years for well-maintained developments. This is an advantage over older commercial stock in the vicinity, where sinking fund contributions may already be rising to cover overdue upgrading. That said, new buildings can carry their own early-stage risks, including defects rectification and the time needed for the retail trade mix and footfall patterns to mature. Buyers should review the maintenance fund’s opening reserves and the MCST’s stated upgrading schedule during due diligence.
What are the odds of en-bloc redevelopment or early lease renewal here?
With a 99-year lease that only began in December 2019, One Bernam is far too young for a realistic en-bloc sale, which typically becomes commercially attractive only when a development is several decades old and the underlying land value significantly exceeds the sum of individual unit values. Investors should not factor en-bloc upside into their return assumptions for at least the next two to three decades. Government policy on lease renewal or top-ups for private leasehold developments has also evolved over time and should not be assumed as a given outcome. The more realistic long-term value driver for this property is sustained rental income and organic capital appreciation tied to the surrounding CBD’s growth, not a redevelopment windfall.
Is there adequate parking and loading access for retail operators?
The development includes basement and multi-storey carparking shared across its residential, serviced apartment and commercial components, with retail servicing and deliveries routed through a dedicated rear or basement access point separate from the main residential drop-off. This separation helps keep loading activity away from the pedestrian shopfront experience along Bernam Street during business hours. Retail operators with heavier delivery needs, such as full-service F&B concepts, should confirm loading bay size, delivery time windows and any restrictions with the MCST or building management before finalising their fit-out plans. Space constraints inherent to a compact CBD podium mean loading arrangements are workable but not as generous as a standalone retail development on a larger footprint.
What kind of maintenance or MCST fees should commercial owners budget for?
Commercial unit owners at One Bernam contribute to the Management Corporation Strata Title (MCST) fund based on their unit’s share value, covering common area upkeep, security, cleaning, lifts and eventual major repairs, with commercial and residential components typically assessed by separate cost pools within a mixed development’s by-laws. As a brand-new building, initial maintenance fees are often set conservatively and may be revised upward once actual utility and staffing costs are established in the first year or two of operation. Prospective buyers should request the latest MCST budget and sinking fund projections from the managing agent or sales team rather than relying solely on marketing estimates, since these figures materially affect net rental returns.
How liquid is the resale market for small strata retail units like these?
Small strata retail and F&B units tend to have a narrower pool of buyers than residential apartments, since demand is largely limited to investors specifically seeking commercial income property and operators wanting to own rather than lease their premises. This generally means longer marketing periods and more price sensitivity to prevailing interest rates and CBD office occupancy trends compared with mainstream residential resale. Units with strong frontage, an established tenant, or particularly good footfall tend to transact faster and hold value better than less visible mid-row lots. Buyers planning an eventual exit should factor in a realistic holding period of several years and avoid assuming residential-grade liquidity when underwriting the investment.

This article is for general information purposes only and does not constitute financial, investment, tax or legal advice. Figures marked with “≈” are estimates based on publicly available information and comparable transactions, and may not reflect current asking prices or actual transacted values. Prospective buyers and tenants should conduct independent due diligence and consult qualified professionals before making any purchase or leasing decision.

© 2026 SG Commercial Property Insights. All rights reserved.

返回博客
WhatsApp