Acacia Tower @ Park Residences, Bangsar South (New Launch - Introduction)

Acacia Tower @ Park Residences, Bangsar South (New Launch - Introduction)

Location : Bangsar South, Kerinchi
Description : Hillside condo part of large mixed development
Tenure : Leasehold
Land area : 60 acres
Launch Price : From RM629,000 to RM3,484,800(average of RM410psf)
Built-up : 1,190sf and 2,095sf
Total units : 470 (Block Acacia alone) out of 2100 units in the entire condominium development
Expected Completion : March 2011
Developer : Sunny Uptown Sdn. Bhd.(subsidiary of UOA Group)




Bangsar South is technically not part of Bangsar at all. It in fact lies right next to Kerinchi where Pantai Hillpark is, but as postcode sells, the developer has decided to associate this entire development with Bangsar instead. Bangsar South is an intergrated development consisting of 5 components altogether, rather similar to Mid Valley City just down the highway. There are The Park Residences, The Village, The Horizon, The Vertical and The Sphere. The Horizon are 2 blocks of 10 and 11 storey boutique offices, The Vertical are 10 blocks of 20 storey offices, The Village is an area where you find loads of F&B outlets, whereas The Sphere is a retail mall. The Park Residences will ultimately consist of 8 blocks of condominium towers altogether, eventually with 2100 residential units in total. First off would be Blocks Acacia and Begonia, with the first still open for sale now. At RM410 persf on average, it is very affordable compared to developments in actual Bangsar where prices have even breached RM1000 persf. However, there are still developments still within the borders of Bangsar though on the outskirts which are around RM520-570 persf still, namely Gaya Bangsar and Suasana Bangsar. If you would still prefer something with actual Bangsar address, then it would seem that Gaya and Suasana are both better options than Park Residences at Bangsar South. Of the three developments, only freehold one is Suasana Bangsar, an added edge.

For own stay, take a look at Mid Valley City further down Federal Highway. Is living in an intergrated mini city your idea of a residential abode? With the convenience comes loads of traffic congestion. You can forget the idea of seclusion or exclusivity. Everything is overly exposed when you choose areas like Mid Valley City or Bangsar South. Privacy is an issue, that's for sure. That's the price you have to pay for living within an intergrated city. If that is what you crave for, then yes, you can consider Bangsar South. There is one thing you might want to take note of, Bangsar South is located right next to some DBKL low cost flats. If that is a bother to you, then perhaps Mid Valley City might be a better option. Well, both developments are of leasehold tenure anyway, and Mid Valley City is completed after all.

For investment, capital appreciation and tenantability will mirror Mid Valley City's performance in the long run, not the whole of it, but rather a considerable fraction of it. That will take time however, as offices and retails in Bangsar South will take some time to fill up from the date of completion. So, do not expect overnight miracles the moment you receive your keys to The Park Residences. Capital appreciation at Mid Valley City was some 40% about 2-3 years after completion. Immediate capital appreciation was around 25% upon key handover. I foresee Bangsar South to appreciate some 20-25% in the long run, as Mid Valley City is generally better located than Bangsar South. Mid Valley Mega Mall was also more established when Northpoint Condominium came into the scene, whereas with Bangsar South, everything is starting from scratch. As for tenantibility, again, it will take time. Note that even when Acacia and Begonia blocks are completed in 2011, the other 6 blocks of condominium towers are not, and that will affect tenantibility to an extent. Also note that The Vertical, Horizon and Sphere will be far from completion as well. So, if you decide to invest here in Bangsar South, be prepared to wait for years before everything matures. Again, remember that with Mid Valley City, Northpoint was a built-then-sell development. When it was launched into the market, most of Mid Valley City was already shaping up, with Mid Valley Mega Mall much established already. This is not the case with Bangsar South.