Park Colonial

Park Colonial LogoPark Colonial is located right beside Woodleigh MRT station, and is poised to be the next blockbuster project to be launched in the RCR region. Comprising 805 apartment units housed in 6 blocks, Park Colonial stands upon a massive site area of 210,413 sqft. It has a classic colonial design, inspired by the nearby Woodleigh estate.

Park Colonial Location

Park Colonial Woodleigh Location

Residents of Park Colonial will be able to enjoy easy access to Woodleigh MRT station which is only 5 stops away from Dhoby Ghaut interchange. For those who do not drive, there’s no need to walk long distances under the hot sun for daily commute. For those who drive, the Pan Island Expressway is less than 5 mins away.

Across Upper Serangoon Road is an upcoming mixed development which is expected to TOP around the same time as Park Colonial. The mixed development includes Woodleigh Mall, which offers Park Colonial residents additional shopping and dining options. Other malls within 1 MRT stop away include NEX mall, The Poiz Centre and The Venue Shoppes.

For those with school-going children, primary schools within 1km are Cedar Primary Sch, St Andrew’s Jr Sch and Maris Stella High Sch.

Bidadari New Town Rejuvenation

To meet housing demand for a growing population, Bidadari will be developed into a new public housing estate, with its own unique character. Bidadari Estate will be developed to blend with the area’s rich heritage, existing expanse of greenery to create a garden living environment.

Envisioned as “A Community in a Garden”, Bidadari Estate will feature the Bidadari Park, which will capitalise on the existing terrain, retain a cluster of mature trees, and replicate a fondly remembered lake in the former Alkaff Gardens in the area. The Park will be connected to the residential estate through pockets of open spaces, with part of the tree-lined Upper Aljunied Road to be converted into a heritage walk for pedestrians.

Bidadari Estate will be pedestrian and cyclist friendly, with seamless connections between transport nodes, the park and commercial developments. To provide for the needs of new and existing residents, Bidadari Estate will feature a wide range of amenities including a new commercial development next to Woodleigh MRT station. A bus interchange, neighbourhood police centre and other community facilities will be located nearby. Other amenities such as places of worship and healthcare facilities are also being planned for the estate.

Given Bidadari’s good location and URA’s development plans for the area, it has huge potential to transform into highly sought after mature estates such as Bishan. Just like how those who have massively profited from buying properties in Punggol during the infancy of its development, early investors into Bidadari and its surrounding areas are bestowed with substantial pricing upside potential.

Park Colonial Specifications

Project Name: Park Colonial
Address: 2 4 6 8 10 12 Woodleigh Ln, Singapore 357686
Developer: CEL Unique Development Pte Ltd
(Joint Venture by Chip Eng Seng Corporation, Heeton Holdings and KSH Holdings)
District: 13
Tenure: 99 years leasehold
No. of blocks 2 blocks of 14 storey
4 blocks of 15 storey
Total no of Units: 805  inc. 15 Dual Key Units
No. of carpark lots 664 (including 5 handicap lots)
Facilities Drop off Point – Colonial Square, The Grand Venue – Club House 10m Ceiling Height, Cantilevered Lap Pool – 50m, Tranquil Waterway – Hammock Pool, Kids Play House & Water Play, Colonial Boulevard, Boulevard Gourmet House, English Breakfast House, Tea Garden, Fren Graden, Lazy Pool, Spa Pavillion, 150m Garden Turf walkway, Sunset Bar, etc.
Site area: 19,547 sqm / 210,413sqft
Expected TOP: 13th July 2022
Expected Legal Completion 2024
Architect ADDP Architects LLP
Landscape Architect Ecoplan Asia Pte Ltd
Solicitor Dentons Rodyk and Davidson LLP
Main Contractor Dragages Singapore

Site PlanPark Colonial Site Plan

Unique Features

  • Convenience of access to Woodleigh MRT station at door step and 5 stops away from Dhoby Ghaut interchange
  • 5 mins walk to future Woodleigh Mall (28,000sqm of retail gross floor area)
  • Substantial pricing upside potential from first mover advantage of investing into Bidadari estate’s growth
  • Woodleigh Residences (across Upper Serangoon Road) expected to launch at a higher price
  • Within 1km to Cedar Primary Sch, St Andrew’s Jr Sch and Maris Stella High Sch
  • Connected to future mixed development, shopping and bus interchange
  • Massive project with huge common areas and numerous facilities
  • Efficient layout (avoid paying for wasted dead spaces)
  • Branded kitchen appliances (Bosch), sanitary wares (Roca) and fittings (Grohe)
  • Quality finishing – marble flooring for living and dining  for 4BR Premium and above
  • One of a kind high ceiling colonial clubhouse design

Photo Gallery

Park Colonial Floor Plans

Click here for Floor Plans

Unit Mix

Unit Type No.of Units Est. Unit Size(sqft)
1 Bedroom 153 463
1 Bedroom + Study 14 506
2 Bedroom Classic 157 570-635
2 Bedroom Deluxe 132 635-678
2 Bedroom + Study 28 667
2 Bedroom Dual Key 15 743
3 Bedroom Classic 146 915-980
3 Bedroom Deluxe 71 1012-1066
4 Bedroom Classic 30 1184-1249
4 Bedroom Deluxe 30 1367-1410
5 Bedroom Luxury 29 1712
Total 805

As at 8 July 2018:

  • Stack 5, 2D, fully sold
  • Stack 18, 2C, fully sold
  • Stack 40, 1B fully sold except #14-40 PH
  • Stack 41, 2D, fully sold
  • Stack 48, 2C, fully sold
  • Stack 56, 2D, fully sold

Park Colonial Official Pricing

In response to a Government Land Sale tender, there were a total of 15 bidders for the popular site and eventually drew a top bid of S$700.7m from CEL Unique Development, which is 60 per cent owned by Chip Eng Seng Corp, and 40 per cent by Unique Real Estate. Unique Real Estate is a joint venture of Heeton Holdings and KSH Holdings units. The site was awarded to CEL Unique Development which will build Park Colonial on this site.

According to a Straits Times article, Mr Ong Teck Hui, national director of research and consultancy at JLL, said: “The bidding war for residential sites has escalated further in this tender, driven by bidders’ determination to secure this attractive site in a market that is potentially recovering.” He noted that about half the bids were above expectations, with the top four within a tight 3.6 per cent margin.Park Colonial GLS bid

Latest Price (based on available units as at 11 Aug 2018)

✅ 1BR
#01-31 463sqft $793000 ($1712psf) 💥
#01-32 463sqft $793000 ($1712psf) 💥
#02-17 463sqft $824000 ($1779psf)
#04-24 463sqft $825000 ($1781psf)
#04-17 463sqft $830000 ($1792psf)

✅ 1+Study
#02-23 506sqft $932000 ($1841psf)
#01-23 506sqft $935000 ($1847psf)
#03-23 506sqft $935000 ($1847psf)
#04-23 506sqft $938000 ($1853psf)

✅ 2BR C
#04-09 603sqft $1055000 ($1750psf)
#04-16 603sqft $1055000 ($1750psf)
#01-27 624sqft $1056000 ($1691psf) 💥
#03-27 624sqft $1056000 ($1691psf) 💥
#06-09 603sqft $1063000 ($1750psf)
#03-44 635sqft $1082000 ($1704psf) 💥

✅ 2BR D
#02-04 678sqft $1183000 ($1744psf) 💥
#01-04 678sqft $1187000 ($1750psf) 💥
#02-01 678sqft $1212000 ($1787psf)
#01-01 678sqft $1229000 ($1812psf)
#03-01 678sqft $1229000 ($1812psf)
#02-13 678sqft $1236000 ($1823psf)

✅ 2BR DK
#01-08 743sqft $1363000 ($1834psf)
#04-08 743sqft $1393000 ($1876psf)
#05-08 743sqft $1397000 ($1881psf)
#07-08 743sqft $1405000 ($1892psf)

✅ 3BR C
#02-23 936sqft $1511000 ($1614psf)
#01-23 936sqft $1516000 ($1619psf)
#04-23 936sqft $1521000 ($1625psf)
#02-42 980sqft $1542000 ($1573psf) 💥
#01-42 980sqft $1547000 ($1579psf) 💥
#09-23 936sqft $1551000 ($1657psf)

✅ 3BR D
#03-06 1023sqft $1649000 ($1613psf) 💥
#04-06 1023sqft $1654000 ($1617psf) 💥
#05-06 1023sqft $1659000 ($1622psf)
#02-43 1066sqft $1705000 ($1599psf) 💥
#02-07 1012sqft $1763000 ($1742psf)
#01-07 1012sqft $1776000 ($1755psf)

✅ 4BR C
#02-22 1184sqft $2098000 ($1771psf)
#02-02 1249sqft $2099000 ($1681psf) 💥
#01-22 1184sqft $2104000 ($1777psf)
#03-22 1184sqft $2104000 ($1777psf)
#04-22 1184sqft $2110000 ($1782psf)

✅ 4BR D
#02-19 1367sqft $2259000 ($1652psf) 💥
#02-55 1410sqft $2356000 ($1671psf) 💥
#01-55 1410sqft $2362000 ($1675psf)
#03-55 1410sqft $2362000 ($1675psf)
#04-55 1410sqft $2391000 (1696psf)

✅ 5BR L
#01-50 1701sqft $2780000 ($1635psf) 💥
#02-50 1711sqft $2791000 ($1631psf) 💥
#03-50 1711sqft $2798000 ($1635psf) 💥
#04-50 1711sqft $2805000 ($1639psf)
#05-50 1711sqft $2890000 ($1689psf)

💥 denotes starbuy units with lowest psf

This is considered a steal as the neighbouring Woodleigh residences is expected to be priced above $2,000psf.

Register now to obtain more information on the availability of your choice units!

About the Developer

CEL Development Pte Ltd is a wholly owned subsidiary of Chip Eng Seng Corporation Ltd, a public listed company in Singapore since 1999.

CEL’s Vision: “To be a leading multi-discipline property development company of choice, one is synonymous with creating quality homes with outstanding build quality and investment value, thereby creating sustainable value to its shareholders and customers and being a socially responsible corporate organization”.

Some of CEL’s projects include Grandeur Park Residences, High Park Residences, Onze @ Tanjong Pagar, Sky Green@Macpherson, KAP Residences and Park Colonial.

Register Interest Now

Park Colonial is expected to launch in mid July 2018. REGISTER NOW for an appointment at our showflat and enjoy VIP pricing direct from the Developer! No agent commission required!

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Great Location!
  • Location
  • Value for money
5

Summary

Park Colonial boasts a great location, and its price point is attractive compared to that of other recent launches. The pricing upside potential is huge, as Bidadari estate is at its infancy stage and has huge potential to be developed into the next Bishan.

 


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Powerhaus
Powerhaus
With a cost of $1515psf ppr, and estimated construction/marketing cost of $500psf, the average breakeven price is about $2015psf.

Do you know that some of the 1 bedders are selling close to breakeven price (from $2087psf) at the initial launch stage?

Logically, do you think it will stay that way for long? If you're the developer, will you maintain breakeven price throughout the sale of the development?

If you would like more info on One Pearl Bank, just PM me. Even if you just want to kaypoh, I'm ok with that 😄

https://www.businesstimes.com.sg/real-estate/one-pearl-bank-condo-draws-4000-in-turnout-during-weekend-preview
Powerhaus
Powerhaus
Just last month, there was a news article on a Singapore family buying a property for each of his 5 kids. He managed to do so by acting on the advice by our Executive Director Mr Kelvin Fong. Are you curious how they did it? Come find out!

Admission is free and dinner is provided. You may leave anytime during the session. RSVP with me if you would like to learn how to be successful like this family!

https://www.straitstimes.com/business/invest/setting-up-home-one-for-each-of-his-5-kids
Powerhaus
Powerhaus
The iconic One Pearl Bank is going for only $2,087psf upwards! That's equivalent to the pricing for Woodleigh Residences, but you get a much more iconic condo in a much more central location. Cheque collection in progress now for next weekend launch balloting. Give me a ping if you would like to be one of the first to choose a good unit!
Powerhaus
Powerhaus
Tip of the day:
When you buy your next property for investment, you must ALWAYS have an exit strategy. Buying is easy! Cheap is good... but does it always mean that you will make money when you buy cheap?

Let me give you an example:
There are many investors who buy overseas properties to avoid ABSD. So let's say you are considering to invest in a condo in JB. You would probably be looking out for units directly sold by developers. Did the thought of buying a resale JB condo ever cross your mind?

Consider this, if it hasn't crossed your mind, how many Singaporeans do you think are considering JB resale condos? If you haven't thought through about this, your money might just get stuck there!

Before you commit to the purchase, ask yourself this question:
Is there an active market that will buy from you in future?

If you have something in mind and would like a 2nd opinion, feel free to check with me!
Powerhaus
Powerhaus
NEW LAUNCH VS RESALE
Last week, I've posted this question - in 2015, which will you buy?
A) A cheaper resale level 9 unit (The Quartz) right next to Buangkok MRT; or
B) A more costly new level 9 unit (Kingsford Waterbay) which is more than 10 mins walk from Buangkok

Time to reveal the answer now!
Undoubtedly, The Quartz was more value for money! It's right next to the MRT, and you can move in immediately! For investors, it also means immediate rental income. So it's a no brainer! Or so it seems...

But value for money doesn't always mean higher capital appreciation. In the context of an investor in the stock market, the share price of Stock A may be lower than Stock B, but it doesn't mean that Stock A's prices will rise faster than Stock B!

Would it be ok to discover something new?

Based on actual transactions at The Quartz, #12-10 was sold at $60k higher in 2018 than #09-10 in 2015.
At Kingsford Waterbay, #03-07 was sold at $255k higher in 2018 than #09-07 in 2015.

To put things in context, if you had bought #09-07 at Kingsford Waterbay in 2015, you could have sold it in 2018 and made a profit of at least $255k. You can use this profit to buy a resale HDB flat nearby and take only 50% mortgage!

Would it be ok to buy a condo and feel less stressed about it? Don't forget that due to the nature of progressive payments for Kingsford (or any other new launches), your monthly installments prior to TOP are very low (could be only a few hundred bucks in the first 2 years).

Is this unique to Kingsford Waterbay? Not really... We see similar patterns across Singapore (as shown in the charts below). I would like to make special mention for Coco Palms vs NV Residences because while Coco Palms is newer, the lease of its land started in 2008, which is the same time as NV Residences!

Why do you think prices behave this way? Are there cases where prices underperformed even when buyers bought at launch? I welcome comments below 😄
Powerhaus
Powerhaus
NEW LAUNCH VS RESALE
NEAR MRT VS NOT NEAR MRT

I usually ask my clients this question (and you might have already seen this from my previous sharing). If we can turn back time to 2015, and you had 2 properties to choose from, which one will you buy?

1) The Quartz
TOP 5 years ago
Right next to Buangkok MRT station
#09-10 @ $1.1m ($955psf)
Ready to move in immediately

2) Kingsford Waterbay
New launch under construction. TOP in 2018.
More than 10 mins walk to any MRT station. Nearest is Hougang or Buangkok.
#09-07 @ $1.111m ($1,110psf)
Must wait 3 years before you can stay or rent out

Leave your comment here, and I will reveal the 2018 prices for these projects in my next post!