Overview

1. Location: Situated in the tech-driven One-North and Buona Vista area, known for innovation and tertiary institutions like NUS and ACJC.
2. Context: Typically known for start-ups, R&D, and modern architecture, with a demographic largely consisting of younger office workers.
3. Development Landscape: Emerged amidst previous residential developments like Dover Parkview and Heritage View, following the success of One-North Eden.
4. GLS Initiative: Part of the Government Land Sales initiative at Slim Barracks Rise, drawing significant attention with 10 bids each for the plots.
5. Strategic Naming: “Blossoms by the Park” seems purposeful, acknowledging its proximity to green spaces and aiming for a more welcoming and comfortable living atmosphere compared to its neighbours.
6. Unique Appeal: Offers a potentially homelier feel in a neighbourhood historically known for its business-centric and tech-driven environment

Inside Tour

Location and Access:

• Situated at North Buona Vista Road, accessible via Slims Barracks Rise from One-North Gateway or One-North Link.
• Proximity to various ongoing developments, mainly characterized by construction activities with low traffic.

Unique Feature – One-North Park:

• Uniqueness is attributed to its proximity to One-North Park, enhancing the development’s environment with green spaces.
• EL Developments are involved in rejuvenating the park, influencing the project’s design and ultimately inspiring its name.

Access and Connectivity:

• Multiple entry points: One-North Gateway, Commonwealth Avenue West, and Portsdown Avenue, ensuring convenient access and traffic management.
• Closed-off entrance design creates a private atmosphere despite visibility through the second-storey public plaza.

Arrival and Parking:

• Arrival courtyard with a central water feature and greenery; security checkpoint post-drop-off for smoother traffic flow.
• 110 basement car park lots, 2 EV lots, and 7 commercial lots available on the first storey.

Building Facade and Layout:

• The building design features a black, white, and dark grey palette with extensive green landscaping.
• Residential blocks are raised on stilts, promoting ventilation and natural shade; open-air curved stairways add design variation.

Residential Facilities:

• Limited but well-thought-out amenities catering to 275 units: entertainment room, yoga deck, gym, function room, steam room, viewing pavilion, and kids’ play area.
• Strategic placement of amenities geared more toward older children due to nearby educational institutions.

Landscaping and Facilities Integration:

• Innovative use of hilly terrain with cascading landscape design blending facilities into One-North Park.
• 50m lap pool as a central feature; additional pools, including wellness and kids’ pools, and sheltered pavilions scattered across the landscape.

Commercial Spaces and Access:

• Four commercial units spread across level 1 and basement 1, aiming for sale rather than tenant management.
• Emphasis on seamless park access while maintaining privacy for residents from North Buona Vista Road.

Pros, Cons, and Important Points:

Pros:

• Proximity to One-North Park enhances greenery and atmosphere.
• Multiple entry points and well-connected internally.
• Thoughtful facility design and strategic amenity placement.
• Innovative use of landscape and tiered terrain for facilities integration.

Cons:

• Potential road noise due to proximity to North Buona Vista Road.
• Challenges in curating commercial spaces without a central governing body.
• Limited amenities for families with younger children.

Important Points:

• Integration with One-North Park influenced project design and naming.
• Varied entry points ensure convenience and traffic management.
• Strategic placement of amenities towards older children due to nearby educational institutions.
• Innovative landscaping uses hilly terrain for cascading facilities design.

Blossoms by the Park – 2 Bedroom + Study B2-PH (872 sqft) Overview:

Unique Features:

• Located on the highest floor in stacks 05 and 08, it’s the largest 2-Bedroom unit in the project.
• Highlighted by a 4.65m high double-volume ceiling in the living area, enhancing the sense of spaciousness.

Unit Layout and Materials:

• L-shaped layout similar to other 2-bedroom units, offering 721 sqft of actual floor space.
• Living area with marble-like porcelain floor tiles, bedrooms with PVC timber-look alike.
• The neutral colour palette of dark wood, white, and greys for a versatile aesthetic.

Kitchen and Appliances:

• Open-concept kitchen with substantial countertop space and storage options.
• Fittings include Grohe taps, a Rubine granite-looking sink, but exclude fridge and washer/dryer.
• Smart kitchen system with remote-controlled appliances for convenience.

Study Area and Layout:

• Study space near the main door and kitchen, sized at 43 sqft, suitable for a table and chair.
• The lack of windows requires additional lighting; and the potential to enclose for more privacy.

Living and Dining Area:

• Double-volume ceiling from dining to living area, providing an impression of spaciousness.
• Layout reminiscent of a condo from the 1950s encourages efficient space use with booth seats.
• Floor-to-ceiling display shelf adds aesthetic value but might impact perceived space.

Bedrooms and Bathrooms:

• Common bedroom without floor-to-ceiling windows due to external AC ledge, sized at 86 sqft.
• Common bathroom with a walk-in shower, minimalist grey scheme, and no natural ventilation.
• The master bedroom accommodates a king-sized bed but lacks substantial storage space.
• The master bathroom mirrors the design of the common bathroom with similar fittings and ventilation issues.

Balcony and View:

• Decently sized balcony for a small table and chairs; each unit comes with a balcony.
• Potential views of NTU@one-north from specific units on higher floors.

Key Points:

• Spacious living area with a double-volume ceiling for a sense of openness.
• Limited storage space in the master bedroom might require creative furniture solutions.
• Balcony space offers outdoor relaxation but varies based on unit location and floor level.
• Design aesthetics evoke both efficient use of space and potential spatial constraints in certain areas.

Blossoms by the Park – 4 Bedroom Premium Type D1-PH (1,539 sqft) Overview:

Unique Features:

• Exclusive to stack 07, the only penthouse unit in the 4-bedroom category with 1,539 sqft.
• Higher ceiling height in the living and dining areas compared to regular units, facing southeast for minimal afternoon sun exposure.

Unit Layout and Spaces:

• The foyer area at the entrance provides privacy and space for additional shelving or household items.
• Dry kitchen with cooking hob, smart oven, and ample built-in cabinets for storage.
• Wet kitchen featuring gas hob, smart system, and right-angled glass wall for lighting and visibility.
• Yard area with household shelter, WC, and provision for washer-dryer (not included).

Living and Dining Areas:

• Spacious living and dining areas with a 4.65m double-volume ceiling and balcony stretching the length.
• Potential to use the balcony as an additional dining space with views of the One-North neighbourhood.

Bedrooms and Bathrooms:

• Multiple common bedrooms, some with full-length windows, built-in wardrobes, and mahjong/study setups.
• Common bathrooms with walk-in showers, wall-hanging toilets, ample storage, and windows for ventilation.
• Master bedroom suitable for a king-sized bed, equipped with built-in wardrobe, and a utility room.

Master Bathroom:

• Similar design and fittings to common bathrooms, including an overhead rain shower and ample storage.
• Utilizes wall-hanging toilet, walk-in shower, mirror storage, and windows for ventilation.

Key Points:

• Well-designed kitchen spaces, dry and wet, with smart appliances and ample storage.
• Spacious living and dining areas with a balcony for added space and views.
• Multiple common bedrooms with various configurations and storage solutions.
• Master bedroom with adequate space for a king-sized bed but limited wardrobe storage.

Blossoms By The Park – Developer Review:

EL Development:

• Originated as a unit within Evan Lim & Co, later established as a separate entity in 2007.
• Specializes in residential projects with nearly two decades of experience.
• Notable past projects include Parc Riviera and Symphony Suites.
• Currently working on projects like Pullman Residences alongside Blossoms by The Park.

Architect (ADDP Architects):

• Recognized as one of BCI Asia’s Top 10 architectural firms in Singapore from 2005 to 2019.
• Extensive residential portfolio, including Seaside Residences, Martin Modern, and Grandeur Park Residences.

Unit Mix:

Summary:

• EL Development has a strong track record in residential projects.
• ADDP Architects, a top firm, designed Blossoms by the Park.
• Diverse unit mix catering to 1 to 4-bedroom options.
• Emphasis on 2- and 3-bedroom units, reflecting a focus on own-stay buyers and multi-gen living options, with a dual-key configuration available for rental income or multi-generational use.

Stack analysis

Development Site Plan:

• Land Area: 85,648.4 square feet
• Challenges in design due to adjacent One-North Park, topography (steep hill), and public commercial space.
• Emphasis on cascading landscaping and a 60/40 ratio of common amenities to residential block.
• Marketed as the tallest building in one-north but not the tallest in Buona Vista.
• Residential tower orientation: Half facing North Buona Vista Road (North-West) and the other facing condo facilities and NTU@one-north (South-East).
• Proximity: Approximately 55m to NTU@one-north and 18m to the main road.
• Facilities are distributed across landscapes and beneath the residential annexe.
• Four commercial units supporting residents.
• One ingress and egress from Slim Barracks Rise. Side gates for residents (leading to One-North Park) and public (leading to Buona Vista MRT).
• Accessibility challenges for wheelchair users due to hilly terrain, numerous stairs, and ramps.

Best Stacks:

• Stacks 01 – 06:
  • Overlook North Buona Vista Road, Rochester Mall, and Park Avenue Rochester.
  • Limited views due to taller buildings across the road.
  • Potential noise concerns due to proximity to the road.
  • North-West orientation results in modest afternoon sun exposure.
• Stacks 07 – 11:
  • Face South-East, minimizing direct afternoon sun.
  • Views include landscaping and common facilities toward NTU@one-north.
  • More privacy compared to Stacks 01-06 due to increased distance from neighbouring buildings.

These details provide insight into the orientation, views, privacy, and sun exposure for different stack options within Blossoms by the Park.

Price Analysis

The price analysis compares Blossoms by The Park with neighbouring developments, considering their average price per square foot (psf), tenure, and year of completion. Here’s a summary of the findings:

Resale Comparison:

• Blossoms by The Park:
  • Units: 275
  • Average psf: ~$2,250
  • TOP: 2026
  • Tenure: 99-year Leasehold
• Comparison with Neighboring Developments:
  • New launches (TOP 2023-2026) command higher prices compared to resale condominiums (TOP 1997-2011), with a difference in average psf ranging from 31.2% to 43.7%.
  • The only freehold project, Treasure Place, performs poorly compared to some 99-year leasehold properties completed much earlier.
• Buona Vista MRT Proximity:
  • Projects closer to Buona Vista MRT Station command prices above $2,000 psf.
  • Blossoms by The Park ranks second with an estimated psf of around $2,250.

Indicative Starting Prices at Blossoms By The Park:

• Varying unit types with corresponding starting prices and psf.
• Ranges from $1,291,000 for 1-bedroom + Study to $3,335,000 for 4-bedroom Premium units.

Comparative Analysis by Unit Types:

• 1-Bedroom: Blossoms By The Park offers a relatively affordable option compared to other 1-bedders in the market.
• 2-Bedroom: Competitive pricing against other available 2-bedders, standing out as a more affordable option.
• 3-Bedroom: Positioned fairly in terms of psf, costlier than some OCR developments but not as expensive as more central developments.
• 4-Bedroom: Pricing isn’t at the lower end, offering alternatives within the given budget range.

Investment Insights:

• Rental Play in One-North Precinct: Demand for rental properties is substantial, especially for 1-bedroom units, indicative of investor interest.
• Rental Yields: Healthy rental yields for different unit sizes in the One North Residences and The Rochester Residences.
• Profitability and Capital Appreciation: Annualized growth for larger units in these developments, while showing growth, lags behind the average for 99-year leasehold developments across Singapore.

Comparison with One-North Eden:

• Blossoms By The Park charges a premium compared to the average transacted psf at One-North Eden.

Overall Insights:

• Blossoms By The Park’s pricing is considered fair given the current property market highs.
• The One-North precinct, while a sought-after investment area, shows limited rental upside compared to other precincts.
• Long-term potential for growth and limited supply might offer better returns if held over time, but other areas have presented better opportunities historically.

Appreciation analysis

The appreciation analysis for Blossoms by the Park and its surrounding area seems promising due to several factors:

1. Limited Supply: There’s a low supply of newly launched private housing within the One-North district, and the upcoming residential projects, including Blossoms by the Park, one-north Eden, and The Hill @ one-north, add up to just 582 units, indicating scarcity in this highly sought-after area.
2. Neighbourhood Development: Surrounding plots, including white sites pending zoning, hint at potential mixed-use developments such as residential, office, shop, hotel, and entertainment spaces. This ongoing evolution of land usage can uplift the area’s appeal and vibrancy.
3. Masterplan Enhancements: Future developments like the Holland Village Extension and Biopolis Phase 6 upgrades are poised to introduce more public spaces, pedestrian-friendly environments, mixed-use components, and infrastructure improvements. These additions are likely to enhance the overall lifestyle and attractiveness of the area.
4. Proximity to Key Projects: Being in close proximity to major projects like the Greater Southern Waterfront and Jurong Lake District positions Blossoms by the Park advantageously. These initiatives aim to create more green spaces, improve connectivity, and establish new hubs for living, working, and recreational activities. This proximity could significantly add to the property’s value and appeal.

In essence, the limited supply of new housing, ongoing and upcoming neighbourhood enhancements, and proximity to major developmental projects suggest a potential appreciation for properties like Blossoms by the Park. These factors could contribute to increased demand, improved infrastructure, and a more vibrant and desirable living environment, likely leading to positive value growth in the future.