SINGAPORE (EDGEPROP) - Located between Potong Pasir and Serangoon, the Woodleigh estate was previously characterised as a quiet neighbourhood with several old condo projects and a Salvation Army building that housed a thrift store. The area last saw the launch of a private condo in 2009.
In July 2017, a consortium comprising CEL Development (the property investment and development arm of Singapore-listed Chip Eng Seng Corp), Heeton Holdings and KSH Holdings paid $700.7 million, or $1,100 psf per plot ratio (ppr), for a residential development site on Woodleigh Lane.
The 99-year leasehold site was purchased in a government land tender and is within walking distance to Woodleigh MRT Station, off Upper Serangoon Road. In 2018, the consortium launched the 805-unit Park Colonial on the site. To date, the project is more than 80% sold.
“When we were looking at the land parcel, at that time, Singapore’s residential property market was experiencing an uptick in sentiment, and we were confident that Park Colonial would be well-received among first-time homeowners and real-estate investors alike,” says Raymond Chia, group CEO of Chip Eng Seng Corp.
In addition to being next to the Woodleigh MRT Station, Park Colonial is adjacent to the up-and-coming Bidadari town. First unveiled in 2014, the Bidadari Estate Master Plan envisaged the Bidadari town to be the next Bishan with its city-fringe location.
To provide greater accessibility, three new roads – Bidadari Park Drive, Alkaff Crescent and Woodleigh Link – have been opened. In addition to these roads, residents at Park Colonial and Bidadari will have access to the Central Expressway and Pan Island Expressway, which are just minutes away. By car, residents can reach the Orchard Road shopping belt within 10 minutes and the CBD within 15 minutes.
For those who prefer to travel by public transport, Woodleigh MRT Station on the North-East Line is one stop away from Serangoon MRT Station. The latter is an interchange station serving both the North-East and Circle Lines. From Woodleigh MRT Station, Dhoby Ghaut MRT Interchange Station, which serves the North-East, North-South and Circle Lines, is just five stops away.
Moreover, Singapore’s first underground, air-conditioned bus interchange will be located next to Woodleigh MRT Station. The upcoming Woodleigh Mall across the road from Park Colonial will also provide residents with the convenience of retail and F&B outlets nearby while retaining the quiet ambience of home.
Accessibility aside, Park Colonial will also be close to a new park that will be developed in the Bidadari estate. In May, HDB announced that the 10ha Bidadari Park will form a “green lung” that features Alkaff Lake, a heritage walk, 6km of wooded experiential trails and a playground with a 5m-tall treehouse. The park will be developed progressively and completed by 2022.
Meanwhile, Bidadari Greenway was conceived for Bidadari to be a car-lite district with a network of cycling paths and pedestrian lanes. The cycling paths will connect the area to the Kallang Park Connector in the south, and Sungei Serangoon and Punggol Park in the north.
To commemorate Bidadari’s history, HDB has designed a 700m tree-lined heritage walk that will cut across the park and link Woodleigh MRT Station to a new Memorial Garden that recounts the area’s history. Bidadari was once home to the Alkaff Lake Garden built in 1929 by the prominent Alkaff family.
Chip Eng Seng’s Chia shares that likewise, Park Colonial’s design pays homage to Woodleigh’s past. “We saw the opportunity for us to design something that is unique. Inspiration was taken from the quaint but stately estate of Woodleigh Park, one of the sites of Singapore’s rare black-and-white colonial houses,” he shares.
The result is a colonial-inspired design that is reminiscent of “the lifestyle of noblemen and ladies back in the old days where parties were held in private clubs, afternoon tea was enjoyed in beautiful manicured gardens and pavilions”.
Designed by ADDP Architects, Park Colonial comprises six 14- to 15-storey blocks spread across the 210,404 sq ft site. The project has more than 50 facilities, including the clubhouse, which is the centrepiece; a cantilevered, 50m lap pool; lawns; courtyards; nature trail; and children’s play area.
This is not the first collaboration between Chip Eng Seng, Heeton and KSH Holdings, which have stakes of 60%, 20% and 20% in the joint venture respectively. The trio were also partners for the 1,390-unit High Park Residences at Fernvale Road. The project was 90% sold on the first weekend of its launch in July 2015, and fully sold within 12 months.
For price trends, recent transactions, other project info, check out the Park Colonial project details page
To replicate this success, the consortium is offering a range of 805 one- to five-bedroom apartments. About 21% of the units are one-bedroom and one-bedroom-plus-study units that range from 463 to 506 sq ft. Two-bedroom units make up 41% of the units, and range from 507 sq ft for a two-bedroom classic unit to 743 sq ft for a two-bedroom dual-key unit. Three-bedroom units of 915 to 1,066 sq ft will make up another 27% of the units. Four-bedroom units, including deluxe units of 1,184 to 1,410 sq ft, will make up 7.5% of the project or 60 units. Five-bedroom units of 1,712 sq ft that come with private lift access will total just 29 units in the project.
The one-bedroom units are sold out. Prices for two-bedroom units start from $1.204 million, while the five-bedroom units are priced from $2.78 million.
Park Colonial will be completed in 2022. According to Chia, over 80% of the buyers are Singaporeans with the majority currently staying in the vicinity. Permanent residents and foreigners make up the rest of the buyers. He adds that most buyers of Park Colonial are owner-occupiers.
Chia says that aside from its access to transport links and amenities at the upcoming Bidadari estate, Park Colonial is within the vicinity of good schools such as Cedar Girls’ Secondary School, Maris Stella High School, Saint Andrew’s Village, Nanyang Junior College and Stamford American International School.
Check out the latest listings near Park Colonial, MRT Station and Schools
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