GuocoLand’s Lentor Modern and Midtown Modern fully sold
Lentor Modern is a 99-year leasehold project comprising 3 25-storey housing high rises with a sum of 605 flats. The towers oversee a 96,000 sq ft shopping center that will incorporate a 12,000 sq ft food store, a 10,000 sq ft childcare centre, and F&B and retail offerings. The project is going to be integrated with Lentor MRT Station on the Thomson-East Coast Line (TEL).
The property will make up five 25-storey towers with 941 units, consisting of a portion of the original Upper Thomson High school that will be preserved and adjusted for non commercial usage. It will also have covered access to Springleaf MRT Station on the TEL.
Not far away, the upcoming development at the Upper Thomson Road (Parcel B) site is targeted for debut in the 2nd part of the year, GuocoLand says. The property developer, along with Hong Leong Holdings, was awarded the Government Land Sales (GLS) plot last April after the joint project partners submitted 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.
Cautions on URA’s Realis data source demonstrate to that the last unit offered 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 initially started for sale in September 2022. This suggests that the condo unit has been completely occupied in no more than 2 1/2 years ever since sales bookings began. Based upon cautions, the venture achieved a common asking price of approximately $2,107 psf.
Meanwhile, units at the 558-unit Midtown Modern, located on Tan Quee Lan Road, fetched an average price of around $2,825 psf. The 99-year leasehold apartment, which is part of the Guoco Midtown mixed-use project, was first launched available for sale in March 2021.
Lentor Modern was the first property to be launched in the Lentor Hills estate. It saw a strong action upon launch, with the venture garnering a take-up figure of 84% on launch day.
“The response to Lentor Modern and our various other projects in the Lentor Hills estate accentuate the solid demand for quality premium houses in the location,” states Dora Chng, residential director of GuocoLand.
She includes: “We anticipate the launch of Lentor Central Residences to be fulfilled with solid attention because of its distance to our Lentor Modern shopping mall which is directly attached to the Lentor MRT terminal on the Thomson-East Coast Line”.
In its news release, GuocoLand states that the mall is currently “more than 50%” rented, including to anchor tenants CS Fresh and ChildFirst.
Lentor Central Residences, a forthcoming project by GuocoLand, Hong Leong Holdings and CSC Land Group (Singapore), is intended for launch in 1Q2025. The condominium makes up 477 units across 2 high-rise blocks.
Marina View Residences condominium
In addition to Lentor Modern, GuocoLand is developing three additional ventures in the estate with its joint project companions. In July 2023, the developer, along with Hong Leong Holdings and TID, released the 598-unit Lentor Hills Residences. The undertaking has actually offered 99% of units to date at a standard rate of approximately $2,099 psf, based on cautions lodged.
The 533-unit Lentor Mansion, created by GuocoLand and Hong Leong Holdings, was launched last March, with 75% sales achieved during the first 2 days of release. The project is now 97% sold with less than 20 units remaining out there, GuocoLand states.
The final unit at Lentor Modern, GuocoLand’s integrated project in the Lentor Hills estate, has been offered, which means that the 605-unit plan is now fully taken up. The success takes place the behind Midtown Modern, that was also completely sold since last December, GuocoLand states in a Jan 27 press release.
