GuocoLand’s Lentor Modern and Midtown Modern fully sold
The last unit at Lentor Modern, GuocoLand’s integrated project in the Lentor Hills estate, has been offered, which suggests that the 605-unit plan is currently completely taken on. The accomplishment takes place the back of Midtown Modern, that was also totally sold off as of last December, GuocoLand states in a Jan 27 statement.
In its news release, GuocoLand states that the shopping center is currently “more than 50%” rented, including to support lessees CS Fresh and ChildFirst.
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 amassing a take-up rate of 84% on launch day.
She includes: “We anticipate the launch of Lentor Central Residences to be met with strong attraction due to its distance to our Lentor Modern shopping center which is directly attached to the Lentor MRT station on the Thomson-East Coast Line”.
Lentor Central Residences, an upcoming development by GuocoLand, Hong Leong Holdings and CSC Land Group (Singapore), is intended for launch in 1Q2025. The apartment makes up 477 units throughout 2 high-rise blocks.
“The reaction to Lentor Modern and our various other developments in the Lentor Hills estate emphasize the solid need for quality premium residences in the location,” says Dora Chng, property director of GuocoLand.
Cautions on URA’s Realis data source demonstrate to that the last unit marketed at Lentorn Modern was a 1,130 sq ft, three-bedroom unit that brought $2.4 million ($2,126 psf) on Jan 19. Residences at Lentor Modern first debuted for business in September 2022. This means that the condo unit has actually been totally taken up in no more than 2 1/2 years ever since sales reservations commenced. Based upon cautions, the project achieved a common selling price of around $2,107 psf.
On the other hand, units at the 558-unit Midtown Modern, positioned on Tan Quee Lan Street, fetched an usual price of around $2,825 psf. The 99-year leasehold apartment, which is part of the Guoco Midtown mixed-use development, was first launched for sale in March 2021.
Along with Lentor Modern, GuocoLand is developing 3 additional projects in the estate with its joint project companions. In July 2023, the property developer, along with Hong Leong Holdings and TID, launched the 598-unit Lentor Hills Residences. The undertaking has actually sold 99% of units to day at an average rate of about $2,099 psf, based on caveats lodged.
Close by, the upcoming property development at the Upper Thomson Road (Parcel B) site is intended for launch in the second part of the year, GuocoLand says. The developer, together with Hong Leong Holdings, was awarded the Government Land Sales (GLS) plot last April after the joint venture partners sent the sold quote of $779.6 million for the 344,700 sq ft, 99-year leasehold site, showing a land rate of $905 psf per plot ratio.
The 533-unit Lentor Mansion, established by GuocoLand and Hong Leong Holdings, was introduced last March, with 75% sales attained throughout the very first 2 days of release. The plan is now 97% marketed with less than 20 units remaining offered, GuocoLand says.
The project will comprise five 25-storey high rises with 941 units, including a portion of the original Upper Thomson High school that will certainly be preserved and adapted for residential usage. It is going to also have covered access to Springleaf MRT Terminal on the TEL.
Lentor Modern is a 99-year leasehold development consisting of 3 25-storey residential towers with an overall of 605 houses. The towers oversee a 96,000 sq ft shopping center that are going to feature a 12,000 sq ft supermarket, a 10,000 sq ft childcare center, and F&B and retail offerings. The development is going to be incorporated with Lentor MRT Stop on the Thomson-East Coast Line (TEL).
