GuocoLand’s Lentor Modern and Midtown Modern fully sold
Cautions on URA’s Realis database show 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 initially launched for sale in September 2022. This indicates that the condo has been completely occupied in no more than 2 1/2 years since sales reservations started. Based on caveats, the project accomplished a standard market price of about $2,107 psf.
In its news release, GuocoLand says that the mall is currently “more than 50%” leased, involving to anchor occupants CS Fresh and ChildFirst.
On the other hand, units at the 558-unit Midtown Modern, positioned on Tan Quee Lan Street, brought a fair cost of approximately $2,825 psf. The 99-year leasehold condominium, which belongs to the Guoco Midtown mixed-use development, was initially launched available in March 2021.
The 533-unit Lentor Mansion, developed by GuocoLand and Hong Leong Holdings, was released last March, with 75% sales accomplished throughout the very first two days of launch. The plan is now 97% offered with less than 20 units remaining offered, GuocoLand shares.
Along with Lentor Modern, GuocoLand is developing three other projects in the estate with its joint project partners. In July 2023, the developer, together with Hong Leong Holdings and TID, introduced the 598-unit Lentor Hills Residences. The project has marketed 99% of units to day at an average cost of approximately $2,099 psf, based upon cautions lodged.
Lentor Modern was the very first project to be started in the Lentor Hills estate. It saw a solid action upon launch, with the venture amassing a take-up figure of 84% on launch day.
Lentor Modern is a 99-year leasehold project comprising 3 25-storey residential high rises with a total of 605 flats. The towers sit on top of a 96,000 sq ft mall that are going to incorporate a 12,000 sq ft supermarket, a 10,000 sq ft childcare facility, and F&B and retail offerings. The development is going to be integrated with Lentor MRT Stop on the Thomson-East Coast Line (TEL).
She includes: “We expect the launch of Lentor Central Residences to be fulfilled with solid interest as a result of its proximity to our Lentor Modern mall which is directly connected to the Lentor MRT terminal on the Thomson-East Coast Line”.
8@BT Bukit Sembawang Estates Limited
“The reaction to Lentor Modern and our various other property developments in the Lentor Hills estate emphasize the strong demand for high quality premium houses in the location,” states Dora Chng, housing director of GuocoLand.
The development is going to make up five 25-storey high rises with 941 units, consisting of a part of the initial Upper Thomson Secondary School that will certainly be preserved and adjusted for household usage. It will also have safe access to Springleaf MRT Station on the TEL.
The final unit at Lentor Modern, GuocoLand’s integrated project in the Lentor Hills estate, has been sold, which suggests that the 605-unit plan is now completely taken up. The success takes place the behind Midtown Modern, that was also completely sold off since last December, GuocoLand says in a Jan 27 news release.
Not far away, the upcoming property development at the Upper Thomson Road (Parcel B) site is intended for debut in the 2nd half of the year, GuocoLand declares. The property developer, along with Hong Leong Holdings, was awarded the Government Land Sales (GLS) plot last April after the joint venture partners sent the sold proposal of $779.6 million for the 344,700 sq ft, 99-year leasehold site, mirroring a land rate of $905 psf per plot ratio.
Lentor Central Residences, an upcoming project by GuocoLand, Hong Leong Holdings and CSC Land Group (Singapore), is targeted for launch in 1Q2025. The apartment consists of 477 units across two sky-high blocks.
