Chuan Park Condo Fact Sheet
| Description | Details |
| Project Name | Chuan Park |
| Developer | Kingsford Huray Development and MCC Land (Singapore.) |
| Address | Lorong Chuan |
| Development Description | Proposed condominium housing development comprising 3 blocks of 22-storey and 2 blocks of 19-storey residential units (total 916 units) with a communal landscape deck, basement car park, swimming pool, communal facilities and 2 shops on MK18 Lot 16257W at Lorong Chuan (Serangoon Planning Area). |
| Tenure | 99-Year |
| District | 19 |
| Expected Vacant Possession | TBA |
| Expected Legal Completion | TBA |
| Developer's Licence No | C1491 |
| Site Area | 37,215.6 sq m / 400,585 sq ft |
| Plot Ratio | 2.1 |
| Gross Floor Area | 78,153 sq m / 78, 153 sq ft |
| Total No. Of Units | 916 |
Who are the Developers of Chuan Park Condo?
Chuan Park condo is a joint venture between two reputable and award-winning developers, Kingsford Huray Development and MCC Land (Singapore). Kingsford is a well-established property developer with a strong track record in delivering high-quality residential and commercial projects across Singapore.
Some of the developments they have built include Kingsford Waterbay, Kingsford Hillview Peak, and Normanton Park.
MCC Land (Singapore), a subsidiary of the renowned MCC Group, is a leading property developer with a diverse portfolio of residential, commercial, and industrial projects in Singapore and beyond.
Some of the residential projects they have developed are The Landmark, One Bernam, and The Poiz Residences.
What are the Prices for Chuan Park?
While the official pricing has not been announced, Chuan Park is likely to be launched at an average price of around $2,500 psf based on its land cost.
During the en bloc sale in June 2022, the 37,216 sq m (400,588 sq ft) site with a gross plot ratio of 2.1, which translates to a gross floor area (GFA) of 78,153 sq m (841,235 sq ft), was sold for $938 million inclusive of an upgrading premium of $192.62 million. This works out to a land rate of $1,256 psf ppr.
Design Features of Chuan Park
Step into a world of thoughtful luxury at Chuan Park where five tower blocks are spread spaciously across a triangular plot of land. All units have a North-South orientation to avoid direct morning and afternoon sun, providing a more comfortable living.
In addition, every unit is meticulously crafted to make the most of space and natural light. Expansive windows bathe the interiors in warmth, creating a welcoming and serene atmosphere, while the smart layout ensures optimal comfort and practicality.
The development offers an impressive array of facilities and amenities, including a clubhouse, lap pool, children's playground, and sky terraces. These features, nestled within generous grounds, are seamlessly integrated with lush landscaping and water features, elevating its living and sophisticated experience.
Where is Chuan Park Condo Located?
Site Plan
Chuan Park condominium is located in Serangoon in Singapore’s District 19. It is bounded between Lorong Chuan and Serangoon Avenue 3, and a short drive to Serangoon Gardens where the popular Chomp Chomp food centre is located. The Lorong Chuan MRT station on the Circle Line is just next to the development, providing residents easy access to the Central Business District and Orchard Road.
Major expressways, including the Central Expressway (CTE) and the Pan Island Expressway (PIE), are also nearby, enhancing transport connectivity and commuting ease.
The area surrounding Chuan Park is well-equipped with amenities. Nearby educational institutions include St. Gabriel's Primary School, Nanyang Junior College, and the Australian International School.
For shopping, dining, and entertainment, residents can visit Junction 8 and Nex Shopping Mall where the latter is one of Singapore’s largest suburban malls. Both are located just one MRT stop away. Alternatively, they can visit the famous Chomp Chomp food centre or myVillage shopping mall in the hip Serangoon Gardens neighbourhood just a 9-minute bus ride away.
Transport Connectivity of Chuan Park
Lorong Chuan MRT Station
Chuan Park condo boasts excellent transport connectivity as the Lorong Chuan MRT station (CC14) on the Circle Line is a minute's walk away. This provides residents direct access to various parts of Singapore via the rail network, which includes the Paya Lebar sub-regional centre and Marina Bay Business District.
Moreover, residents can easily transfer to other MRT lines like the North-South and North-East Lines at the nearby Bishan and Serangoon interchanges. Both are just a stop away.
In addition, the area is well-served by public buses, while the Serangoon Bus Interchange is only 1.5km away from the development, offering a comprehensive network of bus services. This ensures easy access to even more destinations and eliminates the need for multiple MRT transfers in some cases.
Major Expressways
For those who drive, Chuan Park condo is well-connected to major expressways such as the Central Expressway (CTE) and Pan Island Expressway (PIE). These expressways offer direct routes to key destinations like the Central Business District, Orchard Road, and Changi Airport, making commuting a breeze for residents.
Given the excellent transport connectivity of Chuan Park, it not only ensures ease of travelling for residents but will also contribute to the property’s appeal and investment prospects.
Whether travelling by MRT, bus, or car, residents can enjoy the benefits of reduced commuting times and enhanced accessibility, making the development an ideal residence for individuals and families seeking convenience and a better quality of living.
Shopping Malls and Amenities Near Chuan Park Condo
Chuan Park Condo enjoys convenient access to an array of shopping malls and amenities, providing residents unparalleled convenience and a vibrant lifestyle. The nearest is Nex and Junction 8 shopping malls one MRT station away.
Nex Shopping Mall: Located just a short drive away, it is one of the largest suburban malls in Singapore. It offers a comprehensive range of retail, dining, and entertainment options, including a FairPrice Xtra supermarket, cineplex, and numerous fashion and lifestyle stores.
Junction 8: It offers a variety of retail and dining options, as well as a cinema and FairPrice Finest supermarket. It is a popular destination for residents in the Bishan and Serangoon areas, especially with its plethora of neighbourhood shops.
Woodleigh Mall: Opened in May 2023, it is just two MRT stations from Chuan Park. The three-story hub in Bidadari Estate offers not only retail stores and restaurants but also green spaces and community areas. With 160 brands, it is a destination for residents to shop, dine, relax, and connect, all under one roof.
Nex Shopping Mall
Junction 8
Chomp Chomp Food Centre
myVillage Shopping Mall
Proximity to Bishan-Ang Mo Kio Park
Bishan-Ang Mo Kio Park
Residents of Chuan Park condo will enjoy proximity to the Bishan-Ang Mo Kio Park, one of Singapore's largest urban parks.
Located just a 6-minute drive from the development, this sprawling green sanctuary offers a tranquil escape from the city's hustle and bustle.
Perfect for nature lovers and families, the park boasts a naturalised river, recreational facilities, playgrounds, and serene walking trails, promoting a healthy and active lifestyle almost right on their doorstep.
With over 90 bird species and rich flora to discover, it's an urban oasis for residents to relax, connect with nature, and enjoy Singapore's biodiversity.
Schools Near Chuan Park Condo
Chuan Park's location is highly advantageous for families with school-going children. The development is close to several reputable educational institutions, catering to different age groups and educational needs. The following is a list of them:
Primary Schools: Rosyth Primary School, St. Gabriel's Primary School, Yangzheng Primary School, and CHIJ Our Lady of Good Counsel.
Secondary Schools: Zhonghua Secondary School, St. Gabriel's Secondary School, Peicai Secondary School, and Paya Lebar Methodist Girls' School.
Junior Colleges: Nanyang Junior College and Anderson Serangoon Junior College.
Rosyth School
Zhonghua Secondary School
St Gabriel Primary School
Nanyang Junior College
Ang Mo Kio Industrial Park
Paya Lebar Commercial Hub
Additionally, the upcoming relocation of the Paya Lebar Airbase, set to commence in 2030, will unlock an 800-hectare area - equivalent to five times the size of Toa Payoh.
There is a plan to develop the vast site into a "new generation town" featuring 150,000 homes alongside businesses, parks, and community spaces. This transformation is poised to revitalise the eastern part of Singapore, creating a vibrant environment for living, working, and recreation.
As they are all located within a 7-13 minutes drive from Chuan Park Condo, residents will enjoy convenient access to many employment opportunities near their homes. Their proximity, alongside anticipated infrastructure enhancements, will boost its investment potential.
Conclusion: Investment Prospects of Chuan Park
To recap, Chuan Park Condo will appeal to homebuyers for many reasons. These include the following:
- A Landmark: Due to its size, Chuan Park will be a standout development that will set new residential standards.
- Reputable Developers: Developed by award-winning Kingsford Huray Development and MCC Land (Singapore).
- Pent-up Demand: The potential of high demand amid the lack of new launches in the area since The Scala in 2010.
- Luxurious Living: A large site area allows for abundant landscaping and water features, elevating the standard of living.
- Excellent Transport: Next to Lorong Chuan MRT on the Circle Line, it offers convenient commutes.
- Near Expressway: A short drive to Central Expressway (CTE) for direct city access.
- Abundant Amenities: Nex shopping mall and Junction 8 are just one train station away, offering a wide range of shopping, dining, and entertainment options.
- Family-Friendly Location: Close to reputable schools, it is ideal for families with school-going children.
- Outdoor Recreation: Nearby nature parks promote a healthy, active lifestyle.
- Investment Potential: Proximity to major employment centres to boost housing demand and investment value.
Potential Drawbacks
Nevertheless, there are crucial factors to consider, especially the price of an OCR project. With prices likely to start from around $2,500 psf and upward, it may face some buyers’ resistance.
For example, it may face competition from projects like The Hill @ one-north, a RCR project near Buona Vista MRT station. During its launch sales on 20 April 2024, units were sold at an average price of $2,595 psf.
Chuan Park may also face competition from resale properties nearby such as The Scala (launched August 2010), Goldenhill Park Condo (launched March 2001), The Springbloom (launched August 1997) and Chiltern Park (launched Jan 1995).
All of them are 99-year leasehold developments, except for Goldenhill Park Condo.
In the resale market, they have been transacted at an average price of $1,812 psf, $2,082 psf, $1,511 psf, and $1408 psf respectively.
However, it must be noted that these are older developments and in terms of facilities and finishings, they pale when compared to Chuan Park. Moreover, old developments will face increased maintenance costs, lease decay (for 99-year leasehold developments), and a slower rate of capital appreciation.
Another concern is that given the scale of the development with 916 units, buyers and investors may face more competition when they decide to sell in the future.
Comparative Market Analysis
Below is a chart showing how properties near Chuan Park have performed since their respective launch:
Comparative Market Analysis
- The Scala (August 2010): +54.65%.
- Goldenhill Park Condo (March 2001): +192.01%.
- The Springbloom (August 1997): +130.34%.
- Chiltern Park (January 1995): +145.72%.
While the current global economic climate may raise some concerns, the performance of properties in the vicinity of Chuan has consistently demonstrated resilience and capital appreciation, as seen in the above chart.
This has been demonstrated even during economic turmoil such as the Dot-com bubble (2000) and the Lehman Brothers collapse (2008). This is a testament to the location's attractiveness to property investors.
Hence, this should mitigate some concerns about Chuan Park's potential for capital appreciation, especially in the long term, despite the current challenging global economic situation.
