GuocoLand’s Lentor Modern and Midtown Modern fully sold

Lentor Central Residences, a forthcoming development by GuocoLand, Hong Leong Holdings and CSC Land Group (Singapore), is targeted for start in 1Q2025. The apartment makes up 477 units throughout 2 sky-high blocks.

In addition to Lentor Modern, GuocoLand is establishing 3 other ventures in the estate with its joint venture companions. In July 2023, the developer, along with Hong Leong Holdings and TID, released the 598-unit Lentor Hills Residences. The undertaking has actually marketed 99% of units to date at a standard price of about $2,099 psf, based upon caveats lodged.

In its press release, GuocoLand mentions that the shopping center is presently “more than 50%” rented, including to anchor lessees CS Fresh and ChildFirst.

At the same time, units at the 558-unit Midtown Modern, positioned on Tan Quee Lan Street, brought an average rate of approximately $2,825 psf. The 99-year leasehold apartment, which belongs to the Guoco Midtown mixed-use development, was initially introduced for sale in March 2021.

Not far away, the upcoming property development at the Upper Thomson Road (Parcel B) site is intended for release in the 2nd part of the year, GuocoLand declares. The property developer, together with Hong Leong Holdings, was rewarded the Government Land Sales (GLS) plot last April after the joint venture associates sent the sold bid of $779.6 million for the 344,700 sq ft, 99-year leasehold site, reflecting a land price of $905 psf per plot ratio.

“The response to Lentor Modern and our various other property developments in the Lentor Hills estate emphasize the solid demand for high quality premium residences in the location,” says Dora Chng, residence supervisor of GuocoLand.

The last unit at Lentor Modern, GuocoLand’s integrated development in the Lentor Hills estate, has already been sold, which suggests that the 605-unit project is now fully occupied. The accomplishment comes on the back of Midtown Modern, which was additionally totally marketed as of last December, GuocoLand says in a Jan 27 press release.

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Lentor Modern was the very first property to be launched in the Lentor Hills estate. It saw a strong response upon launch, with the venture amassing a take-up figure of 84% on launch day.

The project is going to comprise 5 25-storey high rises with 941 units, including a portion of the initial Upper Thomson Secondary School which will certainly be conserved and conformed for non commercial usage. It is going to also have covered access to Springleaf MRT Station on the TEL.

The 533-unit Lentor Mansion, established by GuocoLand and Hong Leong Holdings, was released last March, with 75% sales accomplished throughout the initial 2 days of open. The plan is now 97% marketed with less than 20 units remaining offered, GuocoLand shares.

She adds: “We anticipate the launch of Lentor Central Residences to be met with solid attention because of its proximity to our Lentor Modern shopping center which is straight linked to the Lentor MRT terminal on the Thomson-East Coast Line”.

Lentor Modern is a 99-year leasehold property consisting of 3 25-storey residential towers with an overall of 605 houses. The towers oversee a 96,000 sq ft mall that are going to feature a 12,000 sq ft grocery store, a 10,000 sq ft childcare facility, and F&B and retail offerings. The property development is going to be incorporated with Lentor MRT Station on the Thomson-East Coast Line (TEL).

Caveats on URA’s Realis data source demonstrate to that the last unit sold at Lentorn Modern was a 1,130 sq ft, three-bedroom unit which fetched $2.4 million ($2,126 psf) on Jan 19. Residences at Lentor Modern initially launched for sale in September 2022. This indicates that the condo unit has been completely taken up in no more than 2 1/2 years since sales bookings began. Based on caveats, the project accomplished an average selling price of approximately $2,107 psf.


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