Pearl Bank Apartments: Singapore's tallest residential building in 1970s

It was once Singapore's tallest residential building and remains a landmark four decades down the road, but the horseshoe-shaped Pearl Bank Apartments eventually fell victim to a demolition crew.

Pearl Bank Apartments with a land area of 82,376 sq ft was sold to developer CapitaLand for $728 million in a collective sale on Feb 13, 2018, and failed to be conserved despite the wishes of heritage lovers.

Pearl Bank Apartments: Singapore's Tallest Residential Building

Pearl Bank Management Corporation Strata Title (MCST) chairman Cecilia Seet and Ms Tang Wei Leng, managing director at marketing agent Colliers International, told The Straits Times that there are no plans to conserve Pearl Bank.

However, CapitaLand promised to "look into blending the heritage elements with modern aesthetics" in the new building to "reflect the rich, multifaceted culture of Chinatown".

Ms Seet noted: "There is no conservation mentioned in the collective sale agreement. We have no proposed plans for conservation."

No plans for conservation

Pearl Bank Apartments was sold to CapitaLand for $728 million, making it fourth time lucky for the condominium in Outram Park.

288 Residential owners, 8 Commercial owners

Owners of the 288 apartments, which range in size from 1,323 sq ft to 3,993 sq ft, stood to receive between $1.8 million and $4.9 million.

The owners of the eight commercial units, which vary from 700 sq ft to 5,630 sq ft, was estimated to reap between $1.2 million and $6.9 million.

Pearl Bank's architect, Mr Tan Cheng Siong, now 86, told The Straits Times on the day the deal was announced that it is his "hope and desire" that the new owner will conserve the tower.

Redevelopment doesn't have mean demolition

"The redevelopment formula does not have to comprise only tearing down a structure, especially if the original building has high architectural and heritage value," he added.

Other architects also called for the condo to be conserved, citing its unique architecture and design, as well as its historical significance.

After all, the building was among the pioneers of high-rise, high-density living here.

Architects & URA Called for conservation

The Urban Redevelopment Authority had said previously that there are merits in Pearl Bank's conservation, given the building set standards for later condo developments on provision of communal amenities such as common areas, clubhouses and shops.

However, the owners do not share such sentiments.

CapitaLand MCST didn't agree to conservation

"While Pearl Bank Apartments - completed in 1976 - has been a visible landmark in Outram, the ageing building no longer adequately meets the residents' needs, and the costs involved to upkeep the premises are high," Ms Seet added.

She noted that it costs about $2.5 million to maintain and repair key facilities every two years.

Pearl Bank Apartments: Old Building, Hefty Repair Costs

As MCST chairman, she has had to deal with numerous complaints from residents over leaking pipes that caused flooding and sparked quarrels among neighbours.

There were 84 cases of pipe leaks in 2017 and more than $20,000 was spent on lift maintenance.

There are also no barrier-free access features in the building, making it an unfriendly environment for some elderly residents.

Homeowners looking forward to en bloc since 2007

These were some of the reasons most owners had agreed to a collective sale as early as 2007, said Ms Seet. Owners had attempted three sales - in 2007, 2008 and 2011 - that failed, possibly due to poor market timing.

Ms Seet said those failed attempts and the reality of an ageing property in need of repairs likely prompted more than 90 per cent of the owners to back a proposal to conserve the building in 2015.

Back then, the owners had wanted to increase its gross floor area and sell this extra space so a developer could build a second apartment block on top of their five-storey carpark. The proceeds would have allowed the owners to retrofit the existing building, but there was not enough backing for the proposal.

Pearl Bank Apartments: Conservation means living with renovations

Unit owner Edward Phang said some owners were not keen on the conservation plan as they would have had to live with the noise and dust from the construction of the new building and the decrepit state of the old one.

Mrs Phang bought the unit about a decade ago and has rented it out. It used to fetch $6,000 a month but now it gets only about $2,000.

Water leakage a common complaint

"There are a lot of repairs needed and I have received six to seven complaints on water seepage. It is everyone's prayers for the en bloc to go through," said the retired doctor.

CapitaLand redeveloped the site into 99-year leasehold One Pearl Bank condo, a high-rise, curved, 39-storey project of 774 residential units, with a finish date in early 2023.

Pearl Bank Apartments: Unique Curved Building

Mrs Phang noted: "I like the exterior design of the building and I admire the architect's talent. But the discussion about fighting for heritage is from observers, and we owners have to bear the financial and ill-health costs that come with any construction, which is unsustainable.

"I think the best way out is for the new building to be redeveloped in a way that preserves the essence of the architect's design - its circular structure - and allows new units to have the existing great views.

Pearl Bank Apartments: Designed by architect Tan Cheng Siong

Architect Tan Cheng Siong said Pearl Bank's unique "C-shape" is meant to represent community.

Although the iconic horseshoe-shaped Pearl Bank Apartments in Outram has been sold, the building's architect and other experts in the field are holding on to the slim chance that the striking structure will be retained by developer CapitaLand.

Pearl Bank Apartment History: Homes for middle class

Pearl Bank was completed in 1976 to provide homes for the middle class, as well as to rejuvenate and redevelop the city centre, said Mr Tan.

C for Community, says Pearl Bank architect

He said the building's unique "C-shape" is meant to represent community: "The layout was designed in such a way that the common corridor is exposed to everyone to mix and interact with each other. Good design nurtures the value of community."

Architectural conservation specialist Yeo Kang Shua said the building appeals to the growing number of home owners who are looking to live in buildings with unique architecture and design, as well as a sense of history.

Chang Architects' principal architect Chang Yong Ter said: "Pearl Bank was ahead of its time; even today, it is just as modern, because it has a sense of timelessness."

Part of this article first appeared in The Straits Times in 2018.