At a glance: One of the main draws for this city-fringe condo is definitely its close proximity to several popular schools along the Bukit Timah stretch. Not the most convenient development for amenities or public transportation, although the necessities are still within walking distance.
|District | Address
|D10 | 321 and 323 Bukit Timah Road
|Highest floor | Number of residential blocks
|24 storeys | 2 blocks
|Japura Development Pte Ltd under the Hong Kong listed company CK Asset Holdings
|Design and landscape architects
|DP Architects and Salad Dressing
|Nearest MRT stations
|Newton MRT (~9-min walk): Downtown and North-South lines
Stevens MRT (~10-min walk): Downtown and Thomson-East Coast lines
|Local schools within 2km (estimated)
|Anglo-Chinese School (Primary), Singapore Chinese Girls’ Primary School, Anglo-Chinese School (Junior), CHIJ Primary (Toa Payoh), St Joseph’s Institution Junior
|International schools nearby
|EtonHouse International School Orchard (~6-min drive), Dynamics International School (~6-min drive), Furen International School (~6-min drive), San Yu Adventist School (~6-min drive), The Winstedt School (~14-min drive), ISS International School (~14-min drive)
|Amenities within a 10-min walking distance
|Balmoral Plaza (~4-min walk) with a Fairprice Finest Gourmet supermarket, Alocassia Apartments (~8-min walk) with a Cold Storage supermarket
The background story
The plot for Perfect Ten was formerly 77-unit City Towers, whose en bloc sale underwent quite a bit of hullabaloo (four attempts plus objections to the high court) before it was sold for $401.9 million in August 2019. Completed in 1966, City Towers holds a pretty special place in our real estate history since it was one of the very first high-rise residential developments in Singapore.
Site for Perfect Ten.
The sale price works out to around $1,847 per square foot per plot ratio after taking in a development charge of $3.5 million. Each City Towers resident took home somewhere between $2.78 million to $11.5 million, depending on their unit size.
It attracted a total of seven competitive bids, with Japura Development—an entity controlled by Hong Kong billionaire Li Ka-shing’s CK Asset Holdings—emerging as the top bidder.
As a developer, CK Asset Holdings is relatively experienced locally. Its subsidiaries were in charge of condominium projects like Stars of Kovan, Thomson Grand and The Vision. In Hong Kong, one of its most successful developments was luxury residential project 21 Borrett Road, which reportedly sold the most expensive home in Asia for US$59 million earlier this year.
21 Borrett Road, a luxury residential property in Hong Kong.
Image source: Bloomberg
What’s surrounding Perfect Ten?
Perfect Ten is mainly surrounded by taller private housing developments and enclaves of landed homes so it does feel pretty exclusive. It sits along Bukit Timah Road, a major road that can get quite busy during peak hours. The large number of schools located along this road also means traffic can get heavy during school pick-up and drop-off hours.
Along Bukit Timah Road. The site for Perfect Ten is to the right of the image.
There aren’t a whole lot of amenities within walking distance. The nearest place to get your groceries is at Balmoral Plaza, where you’ll find a Fairprice Finest Gourmet. Besides the usual offerings, the supermarket also carries a more exclusive range of products. The mall itself isn’t very big, housing only a couple of retail outlets and other food and beverage options.
Fairprice Finest Gourmet is located at Balmoral Plaza.
Besides Balmoral Plaza, Alocassia Apartments is also within a short walking distance. The first floor of the residential building consists of a café, a couple of fast-food restaurants, and a Cold Storage supermarket.
Everything else is a short drive away. Its city fringe location does mean you get to the Orchard shopping belt and Novena area relatively quickly (approximately a 6-min drive). Getting to the Downtown Core area is around 10 mins if you drive.
But if driving in the city is too stressful for you (especially with peak hour traffic along Bukit Timah Road), the Newton MRT station is within walking distance as well. It takes about 9 minutes by foot, which can feel quite a distance especially as most of the way isn’t sheltered.
Still, it’s not exactly grueling. Newton interchange sits on both the North-South and Downtown Lines. It’s one MRT stop away from Orchard station and six stops from Downtown station. Definitely convenient for folks working in the CBD area.
Stevens MRT station is just a bit further from the condominium, but also within a 10-min walking distance. It’s currently on the Downtown line, but will eventually be part of the Thomson-East Coast line come 2022.
Accessibility to other MRT lines is incredibly convenient from Newton station. It’s just one stop to transfer to the North-East line, three stops to transfer to the East-West line and two stops to get to the Circle line.
Couple that with the fact that Newton’s on the Downtown and North-South lines and with the future Thomson-East Coast line at Stevens, you essentially have (relatively) easy access to every existing MRT lines in Singapore.
There’s also a bus stop right in front of the condominium and one across the road (one overhead bridge away) that has a number of buses that take you to both ends of the island, including areas like Buona Vista, Jurong East, Orchard, and Tampines.
A plus for those who like to be located near parks: the Singapore Botanic Gardens is located close by and allows you to reach it by foot in under 30 mins if you are up for a bit of a walk, or it’s just four bus stops away.
Some schools are just more popular
One of the major selling points for Perfect Ten though is its proximity to several popular schools. Every school may be a good school, but conventionally, there are some schools that are preferred, and a lot of these are located within a 2-km radius from Perfect Ten and just a couple of stations away from Newton or Stevens MRT stations.
For primary schools, the ones within a 2km radius include Anglo-Chinese School (Primary), Singapore Chinese Girls’ School, Anglo-Chinese School (Junior), CHIJ Primary (Toa Payoh), and St Joseph’s Institution Junior.
For secondary schools, you get Anglo-Chinese School (Barker Road), Singapore Chinese Girls’ School and St. Joseph’s Institution just across the road, and St. Margaret’s Secondary School, Hwa Chong Institution, National Junior College (Secondary), and Nanyang Girls’ High School located down the road along Bukit Timah Road.
What does this mean for the investor? You are likely to get quite a bit of interest from families with school-going children, whether you are thinking of reselling or renting out your unit. But this demographic definitely has a preference for larger-sized units so do take this into consideration.
Façade, facilities and features
We don’t have a whole lot of information with regards to the design concept for Perfect Ten yet, but if the renderings are anything to go by, it’s definitely going to be on the grander side of things.
There will be two residential towers, positioned in such a way that they look like a pair of opened doors, with the façade defined by the champagne gold hue from the balcony designs. More importantly, though the two blocks are located some 100 metres away from Bukit Timah Road, so stacks facing the road are likely to get some buffer from the traffic noise.
Artist impression of the clubhouse.
The clubhouse itself will be fronting the road. It comes with a sleek and ultra-modern angled roof, with a series of cascading landscapes and water terraces surrounding it. Inside, luxury is the order of the day with surfaces decked out in marble. A 50-metre-long infinity pool will link both the residential towers and clubhouse together.
Artist impression of the infinity pool.
The north-facing units (facing Bukit Timah Road) are expected to have pretty decent views seeing as those stacks overlook a forested area (although that is currently subject to detailed planning based on URA’s master plan) and a low rising landed home enclave. Units facing the other orientations will mostly have views of the cityscape.
Possible view for north-facing stacks.
One of the notable features of Perfect Ten is the unit size for its 2-bedroom units. They come with two bathrooms and are expected to be around 800 sqft, which considering new condominium apartments nowadays, is plenty. By comparison, similar unit types in new condo launches are averaging around 650 sqft.
For an added dose of luxury, some of the two-bedders come with their own private lift lobbies. This will be a feature for all the 3-bedroom units though. What’s different are the glass lifts at the 3-bedders, offering you a pretty spectacular view as you head up home.
At the 3-bedroom units, the master bathrooms come with double sinks, a separate bathtub, and a shower area as well as an in-built Bluetooth ceiling speaker for playing your favourite tunes as you indulge in a relaxing soak.
Things will feel a bit more premium for the 3-bedroom apartments at stacks five and eight. The master bathrooms there come with hidden entrances that are made to look part of the built-in wardrobe and they also feature nearly full-height windows to offer unblocked views of the surrounding landscape.
Well-known upmarket brands like Miele, Gaggenau, Duravit, Hansgrohe, and Villeroy & Boch will also be roped in to supply the built-in appliances and sanitary fittings, so you can expect things to feel real premium at Perfect Ten.
Investment and rental potential
This stretch along Bukit Timah Road is largely well-liked among the (more affluent) locals because of its close vicinity to several popular primary schools in the area. That, along with its city fringe location, is Perfect Ten’s main draw as its surrounding amenities and its proximity to the MRT stations aren’t the most comprehensive nor the most convenient.
Because it is situated in a relatively dense private residential area though, you are likely to face some stiff competition, whether you are looking to sell your unit off or to rent it out.
Based on URA’s master plan, there are several large residential plots opposite Bukit Timah Road that are “subject to detailed planning”, which may signal new private residential developments down the road.
New developments are always a double-edged sword—they increase the vitality in the area especially if more amenities are built as a result but also bring about more competition for investors and landlords.
There’s also a nearby “reserved plot” (indicated by that yellow blob) that is currently home to several black-and-white bungalows, which you may want to take note of. We aren’t sure what will be earmarked for that site in the future, but it may impact prices for Perfect Ten down the road.
Let’s look at some numbers. To get an indication of how pricing might go at Perfect Ten, here’s a look at the average selling prices for new condominiums in the area:
|No. of units
|Avg psf (based on 2021 transactions)
|Fourth Avenue Residences
Data source: URA
Pricing update: Average prices for Perfect Ten are currently around $2,916 psf.
As expected, Fourth Avenue Residences is priced, on average, some 15% lower than its freehold counterparts. But it is bolstered by a stellar location right next to Sixth Ave MRT on the Downtown line.
Going at an average of $2,479 psf, Wilshire Residences seems to be an outlier. But you’ll have to consider that it falls short in the amenities segment with only the Empress Road Market and Food Centre located nearby and Farrer Road MRT station a 9-min walking distance away.
Sloane Residences and Juniper Hill are the prices to watch since they are located in relatively close proximity to Perfect Ten.
To get a gauge of how prices have appreciated in the area over the years, let’s take a look at the transactions of nearby freehold condominium Cyan from 2016 to 2021. Cyan, which was completed in 2014, has a total of 278 units.
Data source: URA
Based on the data, it would seem that the larger 3-bedroom apartments have appreciated, with the prices for the two-bedroom and one-bedroom units remaining relatively stable. This is in line with the understanding that the area mainly attracts families with school-going children.
In terms of rental yield, we are looking at an estimated 2.2% based on rental transactions of the condominiums surrounding the area for the past six months. Here’s a look at the actual rental income you may be able to fetch:
Data source: URA
For more information on the launch date for Perfect Ten, do get in touch with us.