The Park Residences, Bangsar South

  • Pavither
  • 15 March 2021

In 2009, UOA Holdings launched 2 condominium blocks (Acacia and Begonia) at The Park Residences, in Bangsar South. The Park Residences’ residential precinct is separated from its commercial precinct by Jalan Kerinchi.

The commercial precinct consists of The Horizon (boutique offices), The Sphere (lifestyle mall), and The Vertical (office towers). It will have 11,038 parking bays when it is completed.

The Park Residences is a leasehold project, with built-up areas ranging from 1,260 sq ft to 2,095 sq ft.

Kampung Kerinchi in Pantai Dalam, Bangsar, was acquired by UOA Holdings in about 2005. In mid-2007, the developer expanded the main road leading into the area into 3 lanes, built pedestrian walkways, and carried out landscaping works.

The 60-acre Bangsar South is the developer’s largest project with a gross development value (GDV) of about RM6 billion, and took about 12 years to complete. Through the years, the developer has improved accessibility to Bangsar South.

The Park Residences is a leasehold project, with built-up areas ranging from 1,260 sq ft to 2,095 sq ft.

Address: Off Jalan Kerinchi, 59200 Bangsar South, Kuala Lumpur

Developer: UOA Group

Property Type: Condominium

Land Title: Residential

Tenure: Leasehold

No. of Blocks:

  • Acacia: 4
  • Begonia: 1

No. of Storeys:

  • Acacia: 34
  • Begonia: 26

Total Units: 470 units

  • Acacia: 179 units
  • Begonia: 291 units

Year of Completion: 2011

Built-up Area: 

  • Acacia: 1,910 sq ft – 2,095 sq ft
  • Begonia: 1,260 sq ft – 2,068 sq ft

Facilities:

  • Gymnasium
  • Infinity swimming pool
  • Jacuzzi
  • Barbeque pit
  • Children’s Playground with thematic equipment
  • Function hall

Launch Price:

  • Acacia: From RM653,800
  • Begonia: From RM629,600

Launch Price Per Sq Ft: About RM350 per sq ft

Maintenance Fee:

  • Acacia: RM0.29 per sq ft
  • Begonia: RM0.22 per sq ft

Project Details

The Park Residences is a leasehold project, with built-up areas ranging from 1,260 sq ft to 2,095 sq ft. There is a total of 470 units across 2 condominiums – Acacia and Begonia. Acacia has 179 units, while Begonia has more, 291 units. Units come with 2 parking lots, and the development was completed around 2011.

Among amenities provided for the residents include barbeque area, cafeteria, gymnasium, jacuzzi, children’s playground, swimming pool, security, and more.

Among amenities provided for the residents include a barbeque area, cafeteria, gymnasium, jacuzzi, children’s playground, swimming pool, security, and more. There are also ample facilities near Acacia and Begonia at The Park Residences.

Bangsar South is a vast development project that targeted at the medium- to high-end city-living market. There are also sufficient car parks and public transportation available; with 2 LRT stations within walking distance. The development is ideally located within a 10- to 15-minute drive to Bangsar, Mid Valley City, KL city centre, and Petaling Jaya.

There is a total of 470 units across 2 condominiums – Acacia and Begonia.

There is a total of 470 units across 2 condominiums – Acacia and Begonia.

Types

Built-Up

Launch Price

Acacia

Type A

·       2,095 sq ft

·       3 bedrooms

·       1 maid’s room

·       1 powder room

·       1 study corner

·       3 bathrooms

·       Balcony

·       Store room

·       Balcony

 

Type B1

·       1,910 sq ft

·       3 bedrooms

·       1 maid’s room

·       1 powder room

·       3 bathrooms

·       Balcony

·       Balcony

 

 

 

 

 

 

From RM653,800

Begonia

Type A

·       2,068 sq ft

·       3 bedrooms

·       1 maid’s room

·       1 powder room

·       1 study corner

·       3 bathrooms

·       Store room

·       Balcony

 

Type B

·       1,485 sq ft

·       3 bedrooms

·       2 bathrooms

·       Balcony

 

Type C

·       1,260 sq ft

·       2 bedrooms

·       2 bathrooms

·       Store room

·       Balcony

 

 

 

 

 

 

From RM629,600

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Location

The Park Residences is easily accessible via the Federal Highway and New Pantai Expressway (NPE), which takes residents to various parts of KL and PJ. Slightly further are Jalan Klang Lama, and East-West Link Highway.

Besides that, this development area is close to 2 LRT stations – Universiti LRT station, and Kerinchi LRT station. There are also pedestrian bridges from Kerinchi LRT station to The Horizon, and from The Vertical to Nexus.

The Park Residences is easily accessible via network of highways and train connectivity.

There are plenty of F&B options at The Sphere, Nexus Bangsar South, and The Vertical, which is a huge plus as we all love good makan places, without having to brave the traffic or pay for parking. Apart from that, there are grocers, speciality stores, wellness services, and banqueting facilities as well.

There’s also the KL Gateway Mall, which is just a super short drive away. More shopping options within a 15-minute drive include Mid Valley Megamall, Bangsar Shopping Centre, and Bangsar Village I & II. For leisure and sports, there’s the Bangsar South Central Park, Bangsar Sports Complex, and fitness centres in malls mentioned.

Accessibility

  • Jalan Kerinchi
  • Federal Highway
  • Kerinchi Link
  • New Pantai Expressway (NPE)
  • Lebuhraya Persekutuan (Federal Highway)
  • Universiti LRT station
  • Kerinchi LRT station 

Education

  • SMK Seri Pantai
  • SK Methodist
  • SRA Al Khawarizmi
  • Kolej Bedford
  • Universiti Malaya
  • Kuen Cheng High School
  • Methodist College Kuala Lumpur
  • SK Bangsar
  • SK Bukit Bandaraya
  • SMK Bukit Bandaraya
  • Catholic High School, Petaling Jaya
  • HELP University

Medical Care

  • Life Care Diagnostic Medical Centre
  • Cengild G.I. Medical Centre (Cgi)
  • Yak Su Dang Chinese Medical Center
  • Pantai Medical Centre
  • UM Medical Centre

Shopping

  • The Sphere
  • Nexus Bangsar South
  • KL Gateway Mall
  • Mid Valley Megamall
  • The Gardens
  • Bangsar Village I & II
  • Bangsar Shopping Centre
  • Nu Sentral

Recreation

  • Bukit Gasing Forest Reserve
  • Bangsar South Central Park
  • Bangsar Sports Complex
  • Taman Jaya Recreational Park
  • CHI Fitness, Nexus Bangsar South
  • Anytime Fitness, KL Gateway Mall
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Analysis

Whatever you want to call it, Kampung Kerinchi or Bangsar South, the area’s potential speaks volumes. Through the years, the area has continued to see new developments by developers of all sizes.

The 2 condominium blocks at The Park Residences were launched in 2009, with an average price of RM350 per sq ft. In Q2 of 2010, units were going for about RM450 per sq ft to RM550 per sq ft. Available listings in PropertyGuru in March 2021 show that it ranges between RM691 per sq ft to RM800 per sq ft.  

There is a total of 470 units across 2 condominiums – Acacia and Begonia.

For 1,485 sq ft units purchased at RM1.1 million and rented out at RM3,600 per month, the gross rental yield would be about 3.03% per annum.

While The Park Residences has a vast array of amenities, the downside is traffic congestion. With many offices located there, and the occasional events held there, one can expect to snail along the roads during peak drive hours.

Plus, Bangsar South is also home to high-density developments such as Pantai Hillpark. So, patience would be a virtue for residents and tenants in that enclave.

Here’s a glance at residential properties in Bangsar.

Project

Land Tenure

Property Type

Completion

Built-up

Approximate Launch Price

The Park Residences by UOA Group

Leasehold

Condominium

2010

1,260 sq ft – 2,095 sq ft

RM629,600

Gaya Bangsar by UDA Holdings Berhad

Leasehold

Condominium

2010

671 sq ft – 1,160 sq ft

From RM650,000

Suasana Bangsar by UM Land

Freehold

Condominium

2011

1,109 sq ft – 4,876 sq ft

From RM600,000

Camelia Services Suites by UOA Development Bhd

Leasehold

Serviced Residence

2014

638 sq ft, 861 sq ft & 1,419 sq ft

From RM590,000

South View Serviced Apartments by UOA Group

Freehold

Serviced Residence

2017

648 – 1,119 sq ft

From RM640,350

Nadi Bangsar by Hap Seng Land

Freehold

Serviced Residence

2017

441 sq ft – 1,130 sq ft

From RM595,888

Pantai Hillpark by YTL Land & Development Bhd

Leasehold

Condominium

2018

509 sq ft – 2,300 sq ft

From RM152,300

KL Gateway Premium Residences by Suez Capital Sdn Bhd

Leasehold

Serviced Apartment

2018

1,143 sq ft – 1,449 sq ft

From RM1.18 million

 

Novum @ South Bangsar by Eupe Corp Bhd

Freehold

Serviced Apartment

2019

647 sq ft –1,441 sq ft

 

 

From RM720,000

South Link Lifestyle Apartments by UOA Development

Freehold

 

Serviced Apartment

2021

450 sq ft – 1,141 sq ft

From RM360,000

The Goodwood Residence by UOA Group

Leasehold

Apartment Suites

2023

948 – 2,002 sq ft

From RM700,000

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Summary

Bangsar South has developed substantially to become self-sustaining. The Park Residences is a transit-oriented development (TOD), as it is well-connected to transport infrastructure and surrounded by Grade A office towers, hotels, high-rise residences, and F&B options. Thus, the community of expatriates and locals have grown steadily.

landscape

The location of Bangsar South itself is strategic, as it is nestled Kuala Lumpur, Petaling Jaya, and Bangsar and easily accessible via the Federal highway, New Pantai Expressway (NPE), and SPRINT Highway. Other good accesses are via roads from Mont Kiara, Taman Tun Dr Ismail, Kelana Jaya, and Brickfields.

If you are interested in a 1,485 sq ft The Park Residences unit priced at RM1.1 million, take a look at these loan figures.

  • LTV / margin of finance: 80%
  • Down payment (20%): RM220,000
  • Loan amount: RM880,000
  • Loan term: 30 years
  • Interest rate: 3.2%
  • Monthly repayment: RM3,806
  • Approximate required gross annual income: RM154,000*

* Assumptions: You have no other monthly debt obligations, and 30% of gross income is spent on the home loan. Do note that banks usually loan up to 30% of your gross annual income.

Hey, do use these calculators to adjust the loan numbers:

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Keep browsing Malaysia’s largest property site for more project reviews. 

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Eric Wong

Pavither

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