GuocoLand’s Lentor Modern and Midtown Modern fully sold
The last unit at Lentor Modern, GuocoLand’s incorporated development in the Lentor Hills estate, has already been offered, which suggests that the 605-unit venture is currently totally taken on. The success takes place the behind Midtown Modern, which was additionally totally sold off as of last December, GuocoLand states in a Jan 27 statement.
Close by, the upcoming property development at the Upper Thomson Road (Parcel B) site is targeted for launch in the 2nd part of the year, GuocoLand declares. The developer, together with Hong Leong Holdings, was awarded the Government Land Sales (GLS) plot last April after the joint venture partners submitted the sold quote of $779.6 million for the 344,700 sq ft, 99-year leasehold site, showing a land price of $905 psf per plot ratio.
Lentor Central Residences, a forthcoming project by GuocoLand, Hong Leong Holdings and CSC Land Group (Singapore), is intended for release in 1Q2025. The condo comprises 477 units across two sky-high blocks.
In its news release, GuocoLand mentions that the shopping mall is presently “more than 50%” leased, including to support occupants CS Fresh and ChildFirst.
Caveats on URA’s Realis database demonstrate to that the last unit offered at Lentorn Modern was a 1,130 sq ft, three-bedroom unit that fetched $2.4 million ($2,126 psf) on Jan 19. Homes at Lentor Modern first launched for business in September 2022. This implies that the condo has been completely occupied in less than 2 1/2 years since sales bookings started. Based upon caveats, the venture attained an average market price of around $2,107 psf.
“The reaction to Lentor Modern and our other developments in the Lentor Hills estate highlights the strong interest for quality costs residences in the area,” claims Dora Chng, housing supervisor of GuocoLand.
Lentor Modern was the very first project to be started in the Lentor Hills estate. It saw a strong feedback upon launch, with the property gathering a take-up figure of 84% on launch day.
In addition to Lentor Modern, GuocoLand is creating three other ventures in the estate with its joint project companions. In July 2023, the developer, along with Hong Leong Holdings and TID, launched the 598-unit Lentor Hills Residences. The venture has actually marketed 99% of units to day at a standard price of about $2,099 psf, based upon cautions lodged.
Meanwhile, units at the 558-unit Midtown Modern, located on Tan Quee Lan Road, fetched an usual rate of approximately $2,825 psf. The 99-year leasehold condominium, which belongs to the Guoco Midtown mixed-use development, was first released up for sale in March 2021.
The project is going to comprise 5 25-storey towers with 941 units, including a portion of the original Upper Thomson Secondary School that will be preserved and conformed for non commercial use. It is going to also have safe access to Springleaf MRT Station on the TEL.
The 533-unit Lentor Mansion, created by GuocoLand and Hong Leong Holdings, was released last March, with 75% sales accomplished during the very first 2 days of launch. The project is now 97% marketed with lower than 20 units remaining out there, GuocoLand shares.
She includes: “We expect the launch of Lentor Central Residences to be met with solid attention because of its closeness to our Lentor Modern shopping mall which is directly attached to the Lentor MRT terminal on the Thomson-East Coast Line”.
Lentor Modern is a 99-year leasehold project making up 3 25-storey residential high rises with a sum of 605 houses. The towers sit on top of a 96,000 sq ft mall that will feature a 12,000 sq ft grocery store, a 10,000 sq ft child care center, and F&B and retail offerings. The project will be incorporated with Lentor MRT Terminal on the Thomson-East Coast Line (TEL).