This review of TMW Maxwell, a forthcoming mixed-use development that will offer 324 residential units, 8 restaurants, and 3 retail outlets. It will be constructed on the site of the former Maxwell House, a commercial building located in Singapore's coveted District 2.
Maxwell House was a 13-story development that consisted of 145 strata units that occupied a trapezoidal land plot spanning 3,883.3 sq m. It was jointly acquired via an en bloc sale by Singapore-listed Chip Eng Seng Corporation, SingHaiyi Investments, and Chuan Investments in April 2021.
This review aims to provide an objective assessment of TMW Maxwell's various attributes to facilitate a well-informed investment decision. These include the following:
- TMW Maxwell’s Unique Selling Points
- TMW Maxwell Condo Fact Sheet
- TMW Maxwell Unit Mix
- Who are the Developers for TMW Maxwell?
- What are the Prices for TMW Maxwell?
- Where is TMW Maxwell Located?
- The Central Business District (CBD) - Live, Work & Play
- Proximity to Chinatown Offers A Unique Living Experience
- Shopping Malls and Amenities Near TMW Maxwell
- Dining Options Near TMW Maxwell
- Popular Recreational Destinations Near TMW Maxwell
- Schools & Educational Institutions Near TMW Maxwell Condo
- Access to International Schools Appeals to Expat Families
- Excellent Transport Connectivity
- The Greater Southern Waterfront – A Key Driver of Economic Growth
- Review Conclusion - An Investment Perspective
- Upcoming Property Launches In Districts 1 & 2
- More Property Reviews
TMW Maxwell’s Unique Selling Points
- Award-winning developers with a proven track record for building quality homes.
- Unique Flip/Switch concept offers space-saving and flexible internal configuration.
- Excellent location at the heart of the Central Business District.
- A short walk to the lively and vibrant Chinatown, one of Singapore’s four Historical Districts.
- Convenient access to a plethora of amenities, eateries, and shopping malls.
- Proximity to popular schools.
- 2- and 5-minute walk to the Maxwell MRT station (TE18) and Tanjong Pagar MRT station (EW15) respectively.
- Proximity to the Greater Southern Waterfront – a key driver of Singapore's economic growth.
- Excellent investment potential with a ready catchment of tenants.
TMW Maxwell Condo Fact Sheet
|Project Name||TMW Maxwell|
|Type of Development||Residential Mixed Used Development|
|Address||31 Tras Street, Singapore 079934|
|Developer||Maxwell Residential Pte. Ltd. and Maxwell Commercial Pte Ltd (JV between CEL Development, Sing-Haiyi Investments and Chuan Investments)|
|Tenure||99-year leasehold commencing from 28 April 2023|
|Site Area||3,883.3 sq m|
|No. of Units||324 residential units
11 commercial units (1 strata lot) - 8 restaurants + 3 retail
|Expected Vacant Possession||30 June 2028|
|Est. Date of Legal Completion||30 June 2031|
|Carpark Lots||184 + 4 accessible lots|
|Landscape Consultant||Compound Collaborative Pte. Ltd.|
|Main Contractor||Vision E&C Pte Ltd|
|Project Interior Designer||FARM|
|Project Account||UOB Ltd for Project A/C No. 4513144258 oF Maxwell Commercial–Maxwell Residential JV|
|Sales Enquiry||Click here|
Click here for TMW Maxwell floor plans.
|Unit Types||Type||Est. Area (sq m)||No. of Units||% of Each Unit Type||Total Unit|
|1-Bedroom + Study||1S1||52||17||10.4%|
|1 Bedroom Loft||BL1||78||2||1.54%||7|
|2-Bedroom Dual Key||2DK1||79||16||10.49%|
TMW Maxwell Design Features
A unique feature of TMW Maxwell is its Flip/Switch units. They are designed with innovative, transformable furniture. Each permutation flips and switches to facilitate highly flexible and versatile living spaces. With every variation constantly adapting to the dynamic needs of the multi-hyphenate dweller.
- Movable Wardrobe with Flip-Down Study Table.
- Queen Size Murphy Bed with integrated Sofa.
- Balcony Flip-Down Table.
- Integrated Flip-Down Ironing Board.
- Pull-out Counter in Laminate Finish complete with Cutlery Tray.
Other Design Features
- The 20-storey development will comprise of 11 commercial units from the basement to the third level and 324 residential units from the fourth to 20th floors.
- The commercial units consisting of a mix of retail and F&B will occupy the first four levels of the development, taking up about 20% of the GFA.
- The F&B units on every level will face the pedestrian walkway, and there is a through-block linkway for people to walk through Tras Street.
- The public area will act as an “outdoor living room” with cosy seating areas. The amphitheatre seating will stretch from the basement to the third level.
- From the fourth to 20th levels, there will be a series of vertically stacked gardens that offer amenities from lounges to pools, a viewing deck, and quiet corners where people can read, meditate, or work. They are only for residents’ exclusive use and they will continue to the rooftop where more facilities such as dining areas, clubhouse, gym and a 25m infinity lap pool with jacuzzi, aqua seating and deck chairs are provided.
- About 62% of the units are studios with sizes ranging from 476.3 to 479.4 sq ft. They are designed as “flip/switch units” where spaces can be transformed to suit the needs of the residents.
- Another 21% of the units are one-bedroom and one-bedroom-plus-study, ranging from 510 to 567 sq ft.
- There are five units of one-bedroom lofts of 843 to 870 sq ft.
- 15% of the remaining units comprise of two-bedroom and two-bedroom dual-key units with sizes ranging from 792 to 860 sq ft.
Smart Home Features
All units come with branded fixtures and fittings from Smeg, Gessi, and Rocca. This is in addition to SMART home features such as:
- Smart Home Hub - A centralised control hub that connects to all compatible devices seamlessly.
- Digital Lockset - Added convenience of touchless and remote door security.
- IP Camera - Remote monitoring of in-house activities for extra peace of mind.
- Smart Air-Conditioners Control - Wireless control over air conditioning optimises comfort levels even before every arrival home.
Who are the Developers for TMW Maxwell?
TMW Maxwell will be developed by a joint venture between Chip Eng Seng Corporation, SingHaiyi Investments, and Chuan Investments, with a shareholding of 40%, 30%, and 30% respectively.
Chip Eng Seng Corporation – A SGX-listed company, it has a diverse portfolio that includes residential, commercial, and industrial properties. Over the years, it has established a reputation for delivering high-quality developments that meet the needs and desires of its clients.
The company is committed to sustainability and has received numerous accolades such as BCA Green Mark Award, BCA Construction Excellence Award, and FIABCI Singapore Property Award.
Some of their residential developments include Kopar At Newton, Parc Colonial, and Grandeur Park Residences.
SingHaiyi Investments - A fast-growing and diversified company focused on property development, investment, and management services.
It has built a solid track record in property development by expanding from public housing to private residential and commercial projects in Singapore and overseas.
Some of their projects in Singapore include The Gazania, Lilium, Parc Clematis, City Suites, and The Vales, to name a few.
What are the Prices for TMW Maxwell?
During its sales launch over the weekend of 12-13 August 2023, the developers sold 7 out of 324 units at prices between $1.5 million to $2.47 million, or $3,143 to $3,739 psf (average $3,310 psf). However, only 80 units were released for sale in Phase 1 of its launch, which translates to a take-up rate of 8.75%.
Meanwhile, below are the guide prices for TMW Maxwell during its launch:
- Flip / Switch: From $1.513m
- 1 Bedroom Suite: From $1.664m
- 1 Bedroom + Study: From $1.754m
- 1 Bedroom Loft: From $2.309m
- 2 Bedroom Premium: From $2.472m
- 2 Bedroom DK: From $2.703m
TMW Maxwell's estimated land cost is $1,565 psf ppr based on the purchase of the 41,799 sq ft former Maxwell House site with a plot ratio of 4.3. It was acquired for $268 million by a joint venture between Chip Eng Seng Corporation, SingHaiyi Investments, and Chuan Investments via an en bloc sale.
However, the developers have sought approval from the Urban Redevelopment Authority (URA) to increase the plot ratio to 5.6, thereby increasing the gross floor area (GFA) to 234,077 sq ft, of which 20% will be allocated for commercial purposes while 80% of the GFA will be reserved for the residential use.
TMW Maxwell is situated at Maxwell Road in the Tanjong Pagar area of the Central Business District (CBD). It is mostly surrounded by low-rise buildings and hence, will enjoy a good amount of unobstructed views.
Located on the opposite side of Maxwell Road is URA Centre. And beside it is the ever-popular Maxwell food centre while the Amoy Street Food Centre and Chinatown are just a short walk away.
Surrounding TMW Maxwell are several trendy dining hotspots such as Tras Street, Duxton Hill, Ann Siang Hill, and Club Street. These places are home to a plethora of restaurants, pubs, and bars which offer a wide variety of cuisines and a place to socialise.
A stone's throw away from the development is some of Singapore’s most iconic landmarks such as the Jinrikisha Station and Sri Mariamman Temple.
TMW Maxwell is also located close to two MRT stations - Maxwell (TE18) and Tanjong Pagar (EW15). As they are only a short walk away, they will provide easy access to many parts of the island.
The Central Business District (CBD) - Live, Work & Play
The Central Business District (CBD) is the main commercial and financial hub of Singapore. With its iconic skyscrapers and bustling streets, it is a symbol of the city state’s economic success and urban vibrancy.
Singapore, being the third largest financial centre in the world behind New York and Tokyo, is home to many global financial institutions, investment funds, multinational companies.
However, the CBD is not just a hub for business and commerce. Scattered around it are many entertainment spots, which include waterfront dining, trendy bars, and A-list clubs that serve as an outlet for workers to unwind after a hard day’s work.
Although the CBD is currently dominated by commercial buildings, this is set to change. Under the URA master plan, it has sought to transform the CBD into a more vibrant and liveable place.
For example, the introduction of the CBD Incentive Scheme in 2019 aims to encourage the conversion of existing, older, office developments into mixed-use developments. These will include places such as Marina Bay, Anson, Cecil Street, Robinson Road, Shenton Way, Tanjong Pagar, and areas around their fringes.
This is to reposition the CBD as a 24/7 mixed-use district as a dynamic place to work, live and play in. This will be achieved by implementing the following:
- Provide a wider diversity of uses by adding more residences, hotels, and creative lifestyle possibilities.
- Improve connectivity to adjacent developments and transport nodes.
- Introduce more greenery and parks while reducing car usage.
- Create a friendly and walkable environment with attractive public spaces.
Proximity to Chinatown Offers A Unique Living Experience
Chinatown is just a couple of minutes walk from TMW Maxwell.
It has a long and storied history, dating back to the 1800s. Originally home to Chinese immigrants who came to Singapore in search of a better life, it has since been transformed into a hub of Chinese culture.
It has also been designated as one of Singapore’s four Historical Districts. Some of its iconic landmarks include the Buddha Tooth Relic Temple and Museum, Sri Mariamman Temple, and Chinatown Heritage Centre.
The other three Historical Districts are Boat Quay, Little India, and Kampong Glam. All of them can be easily reached via a short train ride, which makes living in TMW Maxwell even more exciting.
Chinatown is characterised by its unique conservation shophouses, vibrant streetscape, and shops selling everything from traditional medicine to souvenirs. Unsurprisingly, it is one of the most popular tourist destinations in Singapore.
From great shopping experiences, delicious food, rich cultural heritage, and exciting nightlife all found in one location, residents of TMW Maxwell can truly look forward to a unique and fascinating experience that cannot be found elsewhere in Singapore.
Shopping Malls and Amenities Near TMW Maxwell
TMW Maxwell is surrounded by numerous shopping malls that offer a wide variety of retail, entertainment, and dining options.
About 10 minutes’ walk away is the iconic People's Park Complex. Built in 1973, it offers a unique shopping experience with its mix of traditional Chinese and modern stores. Next to it is the OG Departmental Store, one of the most popular shopping malls in Chinatown, which started operation in 1973.
The other shopping malls nearby are Chinatown Shopping Complex, known for its many travel agencies and shops selling electronics gadgets and mobile accessories. Across the road is Chinatown Point, one of the more “recent” shopping malls in the area.
Chinatown Point started operation in 1990 but has undergone a refurbishment in 2011. Housing a 25-storey office block and a 6-storey retail mall, it boasts over 220 specialty shops and F&B outlets.
This includes a FairPrice supermarket, lifestyle shops, travel agencies as well as Singapore’s first Chinese Arts and Culture-themed public library.
Other Major Shopping Destinations
Beside the bustling Chinatown, other major shopping destinations in Singapore are just a short train ride away. These include Orchard Road, City Hall, Bugis, Marina Bay and Harbourfront.
These areas offer a wide range of shopping options, from high-end luxury boutiques to affordable street fashion and electronic gadgets, ensuring that there is something for everyone.
There are also a variety of restaurants and cafes to recharge after a long day of shopping. Some of the most popular malls in these areas include ION Orchard, Raffles City, Marina Square, Bugis Junction, and Vivocity, to name a few.
Dining Options Near TMW Maxwell
There is no lack of dining options around TMW Maxwell – from affordable local eats to hip cafes, small eateries and upscale restaurants.
For affordable local fare, the Maxwell Food Centre is just a minute walk away. A popular destination among locals and tourists alike, some of its well-known stalls include Tian Tian Hainanese Chicken Rice, China Street Fritters, and Xing Xing Ondeh-Ondeh Tapioca Cake.
In fact, during the 2013 Singtel Hawker Heroes Challenge, it was visited by international celebrity chef Gordon Ramsey.
Affordable local fares can also be found in:
- Amoy Street Food Centre.
- Chinatown Complex Food Centre.
- Chinatown Food Street.
The latter, located along Smith Street, comes alive when traffic is closed off at dusk. Dining under iridescent neon light, visitors have plenty of food choices, ranging from fresh seafood, stir-fried dishes, crispy duck and steamed dim sum.
Upscale Dining Areas Near TMW Maxwell
Other than local fare, there are several upscale dining areas within walking distance of TMW Maxwell. These areas include the following:
- Ang Siang Hill
- Club Street
- Tras Street
- Stanley Street
- Amoy Street
These dining areas offer a diverse range of culinary options, from cozy cafes and casual dining to upscale Michelin star restaurants. Whether you are craving Chinese, French, Italian, Japanese, or Mediterranean cuisine, these areas cater to a variety of preferences.
These dining options, beside providing a delightful culinary experience, also help to elevate the standard of living and underpin property values around them.
Popular Recreational Destinations Near TMW Maxwell
What makes TMW Maxwell an exciting place to live in is its proximity many popular leisure, lifestyle, and entertainment destinations. Below is a sample of them, all of which are a short train ride away:
Sentosa: Singapore’s premier island resort that boasts a variety of attractions, including Universal Studios Singapore, beaches, golf courses, and various outdoor activities.
Gardens by the Bay: An astounding floral attraction showcasing diverse flora and fauna, and unique structures like the Supertrees.
Marina Bay Sands: An iconic entertainment hub and hotel with a rooftop infinity pool, mall, casino, bars, and restaurants.
Singapore Flyer: A gigantic observation wheel offering panoramic views of the city skyline. On a clear day, parts of Malaysia and Indonesia can also be seen.
Esplanade - Theatres on the Bay: A cultural centre hosting exhibitions, performances, and workshops, located on the edge of the Marina Bay area.
Fort Canning Park: A historic park with cultural and historical attractions, including the Fort Canning Arts Centre and the Battlebox museum.
Boat Quay: One of Singapore's four Historical Districts and a waterfront locale known for its bustling nightlife and diverse dining options. Visitors can take a stroll along the Singapore River, enjoy the picturesque views of the city skyline, or hop on a river cruise.
Schools & Educational Institutions Near TMW Maxwell Condo
When it comes to property investment, proximity to schools, especially the popular ones, is one of the most important factors. In fact, according to a study by NUS Institute of Real Estate Studies, properties near schools command a large price premium over those located further away.
In this respect, TMW Maxwell has three primary schools located within a 2km radius of it. Hence, children entering Primary 1 will enjoy priority admission based on the Ministry of Education’s distance-based allocation system. These three primary schools are:
- Cantonment Primary School.
- CHIJ Kellock.
- River Valley Primary School.
Secondary Schools And Junior Colleges
Although there aren’t any “branded” secondary schools located within TMW Maxwell’s immediate vicinity, several of them can be found at Bras Basah Road and the stretch along Bukit Timah/Dunearn Road.
These schools can be reached within a 15-30 minutes train ride and they include the following:
- School of the Arts (SOTA).
- Singapore Chinese Girls’ School.
- Nanyang Girls’ High School.
- Methodist Girls’ School.
- Chinese High School.
Two junior colleges can also be found along Bukit Timah/Dunearn Road and they are:
- National Junior College.
- Hwa Chong Institution.
There are several tertiary institutions that can be easily reached via a short train ride (see below). For example, the Singapore Mangement University (SMU) and National University of Singapore (NUS) are three and seven MRT stations from TMW Maxwell condo, respectively.
- Singapore Management University (SMU).
- National University of Singapore (NUS).
- James Cook University.
- ESSEC Business School.
- Singapore Polytechnic.
Access to International Schools Appeals to Expat Families
TMW Maxwell enjoys convenient access to a plethora of international schools offering various curricula, ranging from International Primary Curriculum (IPC) to High School and International Baccalaureate (IB) Diploma programmes.
Many of them can be easily reached via public transport, which will appeal to expat families, especially those working in the Central Business District.
Hence, those looking to invest in TMW Maxwell Condo will have a ready catchment of tenants that they can potentially rent out to. Below is a sample list of international schools that are available:
- International Baccalaureate Organization.
- Shelton College International.
- Ascensia International School.
- North London Collegiate School.
- ISS International School.
- Knightsbridge House International School.
- Middleton International School.
- Insworld Institute.
- Kingston International school.
- Tanglin Trust.
- Dover Court International School.
- United College of South East Asia Dover Campus.
Excellent Transport Connectivity
As TMW Maxwell is within a 2-5 minutes’ walk to the Maxwell (TE18) and Tanjong Pagar (EW15) MRT stations, they offer convenient commute to many parts of Singapore. The Maxwell and Tanjong Pagar stations are located along the Thomson-East Coast Line and East-West Line respectively.
Moreover, the proximity of these two MRT stations to several MRT interchanges ensures a smoother and more seamless commuting experience. Whether travelling for work or studies, the time saved will translate to a better quality of life for everyone in the family.
Below are some of the MRT interchanges near TMW Maxwell:
- Raffles Place (1 stop) – an interchange for the East-West and North-South Lines.
- Outram Park (1 stop) – an interchange for the Thomson-East Coast, East-West, and North-East Lines.
- City Hall (2 stops) – an interchange for the East-West and North-South Lines.
- Marina Bay (2 stops) – an interchange for the Thomson-East Coast, North-South, and Circle Lines.
- Bugis (3 stops) – an interchange for the East-West and Downtown Lines.
- Orchard (4 stops) – an interchange for the Thomson-East Coast and North-South Lines.
3 Major Expressways Near TMW Maxwell
There are three major expressways near TMW Maxwell. They are Marina Coastal Expressway (MCE), Ayer Rajah Expressway (AYE), and Central Expressway (CTE).
As they are merely 3-4 minutes’ drive from the development, this will offer faster and smoother journeys for those who drive. For perspective, a trip to Orchard Road and Marina Bay merely takes 5 minutes.
The Greater Southern Waterfront – A Key Driver of Economic Growth
TMW Maxwell is just a stone’s throw from the Greater Southern Waterfront (GSW).
The Greater Southern Waterfront (GSW) is a mega-development project in Singapore that spans over 2,000 ha of land, stretching 30km from Marina East to West Coast Park.
The aim is to transform the southern coastline of Singapore into a vibrant and sustainable waterfront city with commercial, residential, and recreational facilities.
Besides being one of Singapore’s key drivers of economic growth, it also seeks to elevate the standard of living through the expansion of park networks and transport connectivity while creating a car-lite society.
One of TMW Maxwell’s main selling points is its central location.
This provides residents with convenient access to a plethora of amenities and services, while its proximity to two MRT stations opens more shopping, entertainment, and lifestyle options for them.
And with Chinatown just a short walk away, they can immerse themselves in its vibrant culture and heritage.
But what investment potential will a property like TMW Maxwell offer? To answer this question, let’s analyse how nearby properties in District 1 and District 2 have performed.
Property Price Trends Analysis
Below are four properties located near TMW Maxwell in District 1 and District 2. The chart shows their average price trends since they were launched. All of them are in District 2, except for The Clift, which is in District 1.
The Clift was chosen as it is situated at the heart of Singapore’s financial district, yet only 6 minutes’ walk from TMW Maxwell. The rest are located at the fringes of it.
Of the four properties, only Sky Everton is still under construction.
|Property Name||Status||No. of Units||District No.||Launched||Completed||Average Price Gain|
As can be seen from the chart above, below are their average price gains:
- The Arris: +108.26%
- Sky Everton: +10.51%
- The Beacon: +169.23%
- The Clift: +67.71%
Some Interesting Observations
As mentioned, only The Clift is located at the heart of the financial district, surrounded by skyscrapers and commercial buildings, while the rest are located at its fringes.
Interestingly, the chart reveals that properties situated on the fringes of the financial district, such as The Arris and The Beacon, have outperformed The Clift considerably, which is located within it.
It seems that living amongst skyscrapers is less appealing due to its "sterile" environment where commercial buildings dominate. It's busy streets and heavy office crowds during workdays may also have contributed to a less ideal living environment.
Meanwhile, the status of the development, whether freehold or 99-year leasehold, does not seem to be a factor.
Perhaps, these observations may be helpful to those looking to invest in TMW Maxwell condo.
As for Sky Everton, which was only launched in June 2019 and is still under construction, there is insufficient data to evaluate its long-term investment prospect. Nevertheless, a 10.51% average price gain in such a short time is noteworthy.
Upcoming Property Launches In Districts 1 & 2
Besides TMW Maxwell, below are some upcoming property launches in District 1 and District 2 to take note of:
- Newport Residences (former Fuji Xerox Towers) - 246 units.
- Skywater Residences (former AXA Tower) - 215 units.
- Former Realty Centre (located at Enggor Street and next to One Bernam) ~ 100 units.
- Marina View Residences ~ 905 units.
- Marina Gardens Lane ~ 790 units.
- Marina Gardens Crescent ~ 775 units.
More Property Reviews
Besides TMW Maxwell, below are some other property reviews that may be of interest to you:
- The Reserve Residences, a residential cum commercial development by Far East Organisation and Sino Land.
- Blossoms By The Park, a mixed-use development by EL Development.
- The Continuum, a freehold condominium by Hoi Hup and Sunway Developments.
- Tembusu Grand, a 99-year leasehold condo in District 15 by CDL and MCL Land.
- Grand Dunman, a condominium by SingHaiyi Group.
- The Arcady, a freehold condominium near Boon Keng MRT station.
- The Hill @ One-North, a residential cum commercial development by Kingsford Property Development.
- Pinetree Hill, a condominium by UOL Group and Singapore Land.
- The Arden, a condominium by Qingjian Realty.
- Botany At Dairy Farm, a condominium by Sim Lian Group.
- Lentor Hills Residences, a condominium by Intrepid Investments, Guocoland, and TID Residential.
- J’Den, a residential cum commercial development by Capitaland.
- Altura EC, an executive condo by Qingjian Realty.
- The Myst, a condominium by CDL near Cashew MRT station.
- Hillock Green, a condo development at the new Lentor private housing precinct.
- Hillhaven, a condo located near Hillview MRT station.
- Lentoria, a condo at Lentor Hills Road.