Blossoms By The Park

This new 265-unit private residential project is only a mere 3 minutes' walk to Buona Vista MRT Station.

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Blossoms by the Park condominium comes on the back of the successful launch of One-North Eden back in April 2021. All 165 units were fully snapped up in just 11 months.

It was developed by TID, which is a joint venture between 2 real estate developersHong Leong Holdings and Mitsui Fudosan.

The one-north precinct in Singapore has been well known for being the home to many mega biotechnology and information technology companies.

Therefore, this is possibly one of the biggest plus points for this development.

Slim Barracks Rise Parcel A GLS Site
Blossoms by the Park site at Slim Barracks Rise

It will certainly attract property investors who are looking for rental income.

However, it hasn’t been a popular location for those looking to purchase a home.

Since 2006, only 2 residential projects have been launched in the area. There were One-North Residences (completed in 2009) and The Rochester Residences (completed in 2011).

One-north Sales Transactions Data

As you can see from the chart above, the sales transactions in both of these projects were lackluster from 2018 – 2020.

They were averaging at 1 unit transacted per month. However, there was a huge surge in 2021.

There were several factors that contributed to this astounding increase in demand and interest.

One of them was the lack of supply of new launch condos in Singapore and another key factor was the launch of Normanton Park and One-North Eden.

Back then units at Normanton Park and One-North Eden were sold at around $1,794 psf and $1,988 psf respectively.

On the contrary, units at Rochester Residences and One-north Residences were changing hands at an average psf of $1,371 and $1,456 respectively.

They were definitely more “budget-friendly” for homebuyers who are price-sensitive.

So, will Blossoms By The Park condominium be a good buy in 2023?

Let us dive deep into the details.

Blossoms by the Park Project Details

Here’s a quick overview and some specifications of the project.

Project Name Blossoms by the Park
Address 9 Slim Barracks Rise
Type Residential and Commercial on 1st Floor
Developer EL Development Pte Ltd
Tenure 99-year Leasehold
Site area ~85,648 sq ft
Total number of units 265
Number of blocks 1
Number of storey 27-storey
Expected TOP date Mid 2026
Land Price $320.1 million / $1,246 psf ppr

The Developer

This development is developed by EL Development Pte Ltd.

Since its founding in 2006, EL Development has expanded from a modest beginning to become a major player in the booming Singaporean property development industry.

The company has distinguished itself from rivals by consistently exceeding client expectations and providing cutting-edge housing solutions for a wide range of lifestyles and budgets.

In addition, EL Development has etched its stamp on the Singapore skyline with a variety of luxury private residences and sprawling suburban condos over the years.

La Fiesta, one of EL Development’s major developments during the past decade, is one of my personal favourites. It’s an 810-unit condominium next to Sengkang MRT station.

With its central Sengkang location, convenient access to public transportation, and proximity to a wide variety of shops, restaurants, and other services, this large-scale condominium development is a top choice for residents of all walks of life.

EL Development’s meticulous planning and focus on its clients’ needs resulted in a residence that successfully combines metropolitan amenities with quiet suburbia.

Pullman Residences by EL Development
Pullman Residences by EL Development

Another project worth mentioning is its most recent Pullman Residences in Newton.

With the acknowledgement of Accor, It’s one of the rare private residential developments in Singapore to carry a global hospitality brand.

For instance, some of those include the likes of Ritz Carlton Residences (Cairnhill) and Residences at W (Sentosa Cove).

Blossoms by the Park Location

This project is located along Slim Barracks Rise, right next to the NTU@one-north building and diagonally opposite One-North Eden.

Located in Singapore’s trendy One-north precinct, this development will be a prime example of modern urban living.

Blossoms by the Park Condo Location

For those unfamiliar or relatively new to One-north, it is a flourishing neighbourhood of businesses, academic institutions, and residential buildings spread across 200 acres.

It has a prime location in western Singapore, close to the Ayer Rajah Expressway (AYE), which is one of Singapore’s most heavily travelled thoroughfares to many other key business and residential nodes in the western region.

Blossoms by the Park Condo Design

When it comes to private residential living in Singapore’s one-north precinct, this development probably stands out as a truly unique and exceptional development.

Unlike most conventional condominiums that focus on providing residents with lush amenities, this new launch near Buona Vista MRT station takes a different approach, offering residents a nature-inspired living experience that harmonizes with the environment.

One of the most striking features of this project is its 27-storey tower, which provides residents with breathtaking panoramic views of their surroundings.

From your elevated position, you can gaze at the verdant greenery of one-north Park and the bustling tech companies that make this area one of the most dynamic in Singapore.

Blossoms by the Park overlooking one-North

But it’s not just the views that make this project so special.

The development is designed with interlocking topographies that blend seamlessly into the natural surroundings, creating a harmonious and tranquil living environment.

At every turn, you’ll find lush greenery, waterscapes, and leisure spaces that invite you to relax and unwind.

Blossoms by the Park Condo Facilities

Another impressive feature of this development is its tiered design.

Hence, this creates sweeping vistas of greenery while integrating facilities and amenities with covered walkways for easy access.

In addition, tranquil sanctuaries focus on views, nature, and water, providing residents with peaceful escapes from the hustle and bustle of city living.

At Blossoms by the Park, you’ll also find a ground-level retail cluster that offers a vibrant and characterful space filled with an array of shopping and dining options.

Blossoms by the Park Level 1 Restaurants

This is the perfect place to connect with friends and family and immerse yourself in the community.

In short, homes at this development are practically designed to harmonize with nature while still offering modern conveniences.

Floor Plan and Unit Types

This development consists of 275 residential units in total within a single 27-storey block.

There will also be commercial units on Basement 1, Level 1 and 2.

Here is the floor plan for each unit type in the development.

  • 1-Bedroom: 549 to 689 sqft
  • 2-Bedroom: 678 to 872 sqft
  • 3-Bedroom: 915 to 1,259 sqft
  • 4-Bedroom: 1,302 to 1,550 sqft
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Blossoms by the Park Review

As mentioned earlier in the post, the launch of One North Eden in 2021 has likely revived buyer interest in the one-north area.

Based on its impressive sales results, it appears that there has always been a demand for private housing in this area. However, no new homes have been released for sale since The Rochester Residences in 2007.

That’s a 14-year time span.

Over the previous 14 years, the one-north precinct has certainly transformed as more bioscience enterprises, pharmaceutical MNCs, and notable tech companies have established their bases here.

Hence, I personally envision one-north as a business district.

It just doesn’t scream “home sweet home” to me – similar to locations such as Shenton Way or Marina Bay.

The area just doesn’t quite evoke the warm and welcoming feel that I would like.

It lacks some personal touches and a cosy ambience, making it difficult for me to truly settle in and feel at home here.

Prospective homebuyers who have been living in this region of Singapore for many years, on the other hand, may not feel the same way I do.

Buona Vista and Clementi are just a few of the adjacent popular housing estates.

Because these estates are rather large, the booming sales at One-North Eden could be the consequence of pent-up demand, or it could just be the right timing.

The concern is if this will happen again for Blossoms by the Park. Is it a good buy?

Let’s start with some of the good stuff that piqued my interest.

Efficient and functional layouts

When it comes to a unit’s floor plan or layout, livability is quite vital in my opinion.

Spaces must be not just functional but also practical. And I can definitely see that from the typical 3- and 4-bedroom units.

Good-sized units with practical spaces such as a yard, positioning of household shelter in kitchen areas and overall good size.

These days, it’s difficult to find 1000-sqft 3-bedroom units and 1300-sqft 4-bedroom units in the new launch market.

And these are what you can find in this development.

The only complaint I have is the 4-Bedroom Premium.

It’s probably just me, but I’m not a fan of this odd layout.

Blossoms by the Park Condo Review LayoutThe only advantage I can see is having a larger master bedroom because it is more than 200 sqft larger than a regular 4-Bedroom property.

Aside from that, the unconventional living hall layout with a wider balcony spanning across three bedrooms just doesn’t make sense to me.

The size difference between a standard 4-bedroom flat and a premium 4-bedroom unit is 205 square feet.

Assuming a $2,300 per square foot price, you will be paying around $470,000 more for superfluous spaces.

Feels more like home than the others

Although we are only looking at artist impressions at this moment, I believe this development is more of a residential development than One-North Residences, The Rochester Residences, or even the most recent One-North Eden.

The landscape and entrance, for example, are very similar to those found in most conventional condominium projects.

However, when I previously visited The Rochester Residences, I didn’t get a sense of home from the time I drove into the place.

The Rochester Residences at One North
The Rochester Residences. Source: EdgeProp

It appears to be a commercial building rather than anything else. It’s most likely because it’s part of the Rochester Mall as a mixed-use development.

Furthermore, driving up a multi-storey car park instead of a basement makes me feel even worse.

Perhaps it’s because the development is in a commercial zone, which may be the case for this location.

Let us hope it isn’t.

If I have to be wary of something

Firstly, it would have to be the quality that it provides homebuyers and investors.

Don’t get me wrong. I am not saying EL Development is a bad developer or one of those that cut corners or shortchange their buyers.

However, if you look at its portfolio of completed residential projects in Singapore, it isn’t exactly the most remarkable.

Let’s just say they are not one of the real estate powerhouses like City Developments Ltd, UOL Group, or GuocoLand.

Their brand is emblazoned with quality assurance and experience.

In my perspective, for a buyer to pay this much money for a property, the residences being delivered must meet a particular quality standard.

I certainly hope it can provide the same level of quality as its other project, Pullman Residences.

Another thing to consider would be your exit strategy in future.

Based on preliminary data, I foresee this development will sell for roughly $2,300 to $2,400 psf on average.

When compared to resale units in One-North Residences and The Rochester Residences, it is around $800 psf higher.

In terms of absolute value, a 2-bedroom in these condominiums will cost you roughly $1.2 million, but a 2-bedroom in Blossoms by the Park will likely cost you around $1.5 million.

I’m not claiming this development is inexpensive.

The projected pricing is definitely in line with the existing new launch market.

However, I believe the demand is still dubious.

Do you know that quite a number of owners at The Rochester Residences have suffered losses despite purchasing in 2007?

Unprofitable Transactions at The Rochester Residences
Unprofitable Transactions at The Rochester Residences

And can you quickly exit or sell at a minimum of $2,500 – $2,600 psf if you get in at approximately $2,300 to $2,400 psf?

That’s something to think about.

Final Word

In my opinion, Blossoms by the Park is the nicest residential development in the one-north area.

Although I would actually prefer a larger development, as a total of 275 units is too little for my liking.

This new launch at one-north is probably ideal for the modern urbanite who prioritises efficiency, sustainability, and technology in their homes.

As a matter of fact, most singles or couples – especially expatriates these days are happy to adopt such a way of life.

On the other hand, It may not be the best place to start a family or raise children.

Both the internal and exterior communities are less than ideal for these goals in life.

The expression “family warmth” comes to mind, however, I don’t get that impression in this area of Singapore.

However, It’s prime location and efficient design still make it a great option in today’s market.

It is definitely ideal for those in the market looking for a contemporary residence.

 

 

 

82%
Pretty Good!
  • Location
  • Transport Links
  • Amenities
  • Interior
  • Value

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