3 Wallich Street, District 02, Tanjong Pagar
Marked as the tallest private residential development in Singapore, Wallich Residence (华利世家) is set to be one of the most iconic property developments in the heart of the Central Business District (CBD) within the Tanjong Pagar precinct.
Over the last couple of years, property buyers of the CBD haven’t been showing much interest in key areas such as Tanjong Pagar and Shenton Way, mainly due to the fact that the Marina Bay precinct has been drawing most of the hype away from the traditional CBD of Singapore.
We would say the launch of Wallich Residence is a phenomenon. Sitting just above Tanjong Pagar Centre (with a total height of 290 metres above sea level), the grand scale of this mixed-use development as a whole is simply stunning.
Some would even compare this to some other prominent projects in the Marina Bay district – such as Marina Bay Residences (which is integrated with the Marina Bay Financial Centres) and Marina One Residences (integrated with Marina One).
Here’s what Wallich Residence at Tanjong Pagar Centre has to offer.
Wallich Residence Developer
As always, the first thing on the list for us to assess any property development would be its developer. It’s similar to anything you buy in life – be it cars, bags, clothes. You always want to find out where is it made and who made these.
Without a doubt, GuocoLand has established themselves as one of the most renowned property developers in Singapore over the last 4 decades, with more than 34 projects sold and numerous accolades & awards won – on both the local and international platform.
Some of their newest projects in Singapore include the likes of Leedon Residence, Goodwood Residence, and Martin Modern. And if you have seen any of them, you will know that they are a developer who is not going to shortchange you in terms of quality.
Now with Wallich Residence at Tanjong Pagar Centre, it has certainly added more shine to their glamorous property portfolio and collection.
Wallich Residence Location
Wallich Residence is located right above Tanjong Pagar Centre, in the heart of District 2 in Singapore – right above Tanjong Pagar MRT Station at 3 Wallich Street, Singapore 078882.
It is situated in the heart of Tanjong Pagar, an area not just being well-known as the busiest area in Singapore, but also for its rich historical and cultural background. Now it has become a district with a vibrant mixture of retail, cultural and also numerous private residential developments.
One of the most exciting plans ahead from the location of Wallich Residence is the future development of the Greater Southern Waterfront, which will see existing PSA ports make way by freeing up almost 1,000-ha of land for Singapore’s next waterfront city.
Apart from the exciting transformation plans ahead, Wallich Residence also offers seamless connectivity to other parts of Singapore. Not only residents will enjoy direct access to Tanjong Pagar MRT Station, major expressways such as Ayer Rajah Expressway (AYE) and the Marina Coastal Expressway (MCE) will also help get you to places such as the Changi Airport (in approximately 16 minutes), Orchard Road (in approximately 8 minutes) and Marina Bay (in just less than 5 minutes) by car.
If you are not intending to go too far out for a meal, drink or even groceries, there are already plenty of bars, cafes, restaurants, and at least 2 supermarkets within the Tanjong Pagar precinct itself.
Amenities & Facilities within Wallich Residence at Tanjong Pagar Centre
Wallich Residence – the residential component of Tanjong Pagar Centre is only part of the “big picture”. The entire complex consists of several components.
Guoco Tower which comprises of 890.000 square feet (sq ft) of Grade A office spaces spanning over 21 floors, a 6-storey retail & dining podium of around 100,000 sq ft and also a 5-star business hotel managed by Sofitel.
There will also be a 150,000 sq ft urban park with lush greenery landscapes, gardens and also a city room which can be used for events and other forms of activities.
Within Wallich Residence itself, it has a total of 4 levels of amenities, from its signature concierge services, a breathtaking infinity pool on the 39th floor, a private library, a theatrette and private dining on the 52nd floor, and the stunning sky observatory deck on the 62nd floor.
At this classy project, it doesn’t just stand apart from the rest of the residential developments in the area by its sheer height, but also by the quality of living being offered.
Wallich Residence Floor Plan and Unit Types
It comprises a total of 181 exclusive units – from 1-bedroom to 4-bedroom, 4 penthouses and also a super penthouse. Unlike most typical developments in the area, Wallich Residence will start from the 39th floor all the way to the 64th floor.
Looking at the Wallich Residence floor plan, every apartment unit has been ingeniously crafted to maximize the true meaning of luxury living – be it the height of the apartment, volume and of course, the livable space.
All units come with high ceilings and fitted with floor-to-ceiling windows that will offer each residence a light-filled affluent living experience.
The 4 penthouses (with 4 bedrooms each – situated from level 58 to 61) and the super mega penthouse are probably the key highlights to Wallich Residence.
Not only you will enjoy panoramic views of the sea, city and the sky as a resident in one of the penthouses, each of them (sized 3,509 sq ft) will be served with their individual private lift lobbies and have their bedrooms all come with en-suite bathrooms each and a spacious & lavish walk-in closet for the master and junior master bedrooms.
From the floor plans of Wallich Residence, they have certainly reflected the standards for contemporary high-end living.
The Super Penthouse
So what is it about the super penthouse? First of all, its price tag at more than S$100 million – the most expensive private residential apartment in Singapore.
As a local buyer, you can easily own 2 or 3 Good Class Bungalows (GCBs) with that amount of money. But for foreigners who are ineligible to purchase landed homes in Singapore, this super penthouse at Wallich Residence could be the next best thing.
Spanning across a massive 21,108 sq ft, this 3-level super penthouse on the 62nd floor is the largest of its type, and it is the only one in Singapore to-date.
Not only will you enjoy an epitome of luxury living at the Wallich Residence super penthouse, you will also get to experience the feeling of being at the peak of the CBD and the world being at your feet – every single day.
Wallich Residence Price
According to property developer GuocoLand, here is the Wallich Residence price guide for each unit type.
- 1-Bedroom (646 sq ft) – from S$1.932 million
- 2-Bedroom (861 sq ft) – from S$2.515 million
- 3-Bedroom (1,098 sq ft) – from S$3.572 million
- 4-Bedroom (1,658 sq ft) – from S$5.77 million
- Penthouses (3,509 sq ft) – from S$16 million to S$18 million
- Super Penthouse – indicative S$110 million
Do note that pricing above is subjected to changes. For the exact pricing, you can always check with us via (+65) 6631-8384 or drop us a note with the contact form below.
Wallich Residence Showflat
The good news is that Wallich Residence showflat will be an actual unit at this point in time. Thus, you will be able to experience the exact size and living experience in the development itself.
However, viewing is strictly via appointment only. Do give us a buzz or drop us a note if you would like to view the Wallich Residence showflat and we will make the special arrangements.
Wallich Residence Review
Formerly named as Clermont Residence, Wallich Residence was possibly the most eye-catching new launch back in late 2013.
Not only it was planned as a mega mixed-development, situated right in the heart of Tanjong Pagar and sitting right above the MRT station, it was also reported to be the highest residential development in Singapore.
There were plenty of other new property projects around the area at that point of time, such as EON Shenton, V on Shenton, Skysuites @ Anson and Onze @ Tanjong Pagar, etc – but none came close to the quality and scale which GuocoLand could offer for Wallich Residence.
Despite launching at the start of the down-trending property market back then, to own a 1-bedroom at Wallich Residence would still cost approximately S$1.8 million – probably justified by the fact that the lowest floor unit was on Level 41.
However, at that point in time, we still thought it was really overpriced. Even a 1-bedroom unit (with perhaps the similar size) in downtown Orchard would cost even lesser than one at Wallich Residence.
Wallich Residence’s price point certainly gave another prominent mixed-use project in the CBD, Marina One (in the Marina Bay precinct) a strong boost in sales, as the lowest priced 1-bedroom unit there was only priced a mere S$1.378 million (700 sq ft).
So how does the pricing at Wallich Residence compares to its nearby newer developments of similar sizes to-date?
We will be using units of a similar size range and of the lowest priced for better comparison.
|PROJECT NAME||CONTRACT DATE||ADDRESS||TENURE||SIZE (SQ FT)||PSF (S$)||PRICE (S$)|
|WALLICH RESIDENCE||16-Jun-17||3 WALLICH STREET #41-04||99-YEAR||614||3,061||1,878,000|
|SKYSUITES @ ANSON||12-Jun-13||8 ENGGOR STREET #41-02||99-YEAR||667||2,164||1,444,500|
|ALTEZ||26-Feb-10||16 ENGGOR STREET #19-08||99-YEAR||603||2,001||1,206,170|
|EON SHENTON||27-Apr-12||70 SHENTON WAY #30-14||99-YEAR||624||2,480||1,548,000|
|V ON SHENTON||13-Aug-12||5A SHENTON WAY #33-22||99-YEAR||689||2,111||1,454,000|
As you can see, Wallich Residence is being priced so much more than its neighboring projects, which really puts you as a buyer with a tremendous amount of risk. Looking at the above comparison, Wallich Residence is being priced at almost 40% higher than the combined average of the other projects nearby.
In our opinion, this is definitely not an investment-grade project. The numbers (in terms of returns and yield) just doesn’t make sense at all.
It is rather obvious that such projects are likely to appeal to foreign buyers or the ultra HNWI individuals who are looking to add another top quality property to their existing portfolio.
You would think who would be so “dumb” to buy a unit at Wallich Residence, but check this out:
|CONTRACT DATE||ADDRESS||SIZE (SQ FT)||PSF (S$)||PRICE (S$)|
|16-Jun-17||3 WALLICH STREET #50-02||646||3,187||2,058,340|
|16-Jun-17||3 WALLICH STREET #41-04||614||3,061||1,878,000|
|25-Jan-17||3 WALLICH STREET #42-02||646||2,970||1,918,000|
|16-Mar-15||3 WALLICH STREET #51-10||1,625||3,238||5,263,580|
|12-Aug-14||3 WALLICH STREET #51-02||646||3,244||2,095,000|
|2-Jan-14||3 WALLICH STREET #50-05||646||3,221||2,080,000|
|24-Dec-13||3 WALLICH STREET #43-03||861||3,022||2,602,000|
|18-Dec-13||3 WALLICH STREET #45-01||1,313||3,050||4,005,000|
|17-Dec-13||3 WALLICH STREET #46-05||646||3,013||1,946,220|
|17-Dec-13||3 WALLICH STREET #48-02||646||3,080||1,989,005|
If purchasing a unit here is for personal use, here’s what we think in short.
Since it’s the highest residential development in Singapore, it would only make sense if you are going for units at the very top – and that would mean the penthouses or the 21,108 sq ft super penthouse with that private pool. There is really nothing out there in today’s market which can offer you a similar height of luxury – in a district where branding is key.
A final word on my Wallich Residence Review
To be completely honest, Wallich Residence does offer unrivaled quality within a property development – the kind which many upcoming developments would find it very hard to match or even come close to what GuocoLand has crafted.
This is definitely not a private residential project for just anyone and will always remain as a “dream” for most to own. But to the ultra-rich, it will be certainly an asset worth considering to be part of their real estate collection.