GuocoLand’s Lentor Modern and Midtown Modern fully sold
Lentor Modern is a 99-year leasehold property consisting of 3 25-storey residential towers with an overall of 605 apartments. The towers oversee a 96,000 sq ft mall that are going to include a 12,000 sq ft grocery store, a 10,000 sq ft childcare centre, and F&B and retail services. The project will be incorporated with Lentor MRT Stop on the Thomson-East Coast Line (TEL).
She includes: “We expect the launch of Lentor Central Residences to be met with strong attraction as a result of its closeness to our Lentor Modern mall which is directly attached to the Lentor MRT station on the Thomson-East Coast Line”.
Lentor Modern was the very first development to be kicked off in the Lentor Hills estate. It saw a good feedback upon launch, with the venture amassing a take-up rate of 84% on launch day.
Lentor Central Residences, a forthcoming development by GuocoLand, Hong Leong Holdings and CSC Land Group (Singapore), is intended for release in 1Q2025. The apartment makes up 477 units across two sky-high blocks.
Cautions 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 brought $2.4 million ($2,126 psf) on Jan 19. Homes at Lentor Modern first launched for business in September 2022. This suggests that the condominium has actually been completely taken up in less than 2 1/2 years ever since sales bookings commenced. Based upon cautions, the venture achieved a standard selling price of about $2,107 psf.
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 plan is now totally occupied. The accomplishment takes place the behind Midtown Modern, which was also completely sold as of last December, GuocoLand shares in a Jan 27 press release.
“The response to Lentor Modern and our various other property developments in the Lentor Hills estate highlights the solid interest for quality costs residences in the location,” states Dora Chng, property supervisor of GuocoLand.
In its news release, GuocoLand mentions that the shopping center is currently “more than 50%” leased, involving to anchor renters CS Fresh and ChildFirst.
On the other hand, units at the 558-unit Midtown Modern, situated on Tan Quee Lan Road, brought a fair price of around $2,825 psf. The 99-year leasehold apartment, which is part of the Guoco Midtown mixed-use property development, was initially launched for sale in March 2021.
Nearby, the upcoming development at the Upper Thomson Road (Parcel B) site is targeted for debut in the 2nd part of the year, GuocoLand declares. The property developer, together with Hong Leong Holdings, was granted the Government Land Sales (GLS) plot last April after the joint venture associates submitted the offered bid of $779.6 million for the 344,700 sq ft, 99-year leasehold site, mirroring a land price of $905 psf per plot ratio.
The project will make up five 25-storey high rises with 941 units, consisting of a part of the original Upper Thomson Middle school that will be saved and adjusted for household usage. It is going to also have safe access to Springleaf MRT Stop on the TEL.
Along with Lentor Modern, GuocoLand is developing three additional ventures in the estate with its joint venture partners. In July 2023, the property developer, together with Hong Leong Holdings and TID, released the 598-unit Lentor Hills Residences. The venture has sold 99% of units to date at a standard rate of approximately $2,099 psf, based upon cautions lodged.
The 533-unit Lentor Mansion, developed by GuocoLand and Hong Leong Holdings, was introduced last March, with 75% sales attained throughout the very first 2 days of launch. The project is now 97% marketed with less than 20 units remaining available, GuocoLand states.
