GuocoLand’s Lentor Modern and Midtown Modern fully sold
Lentor Modern was the first project to be started in the Lentor Hills estate. It saw a good reaction upon launch, with the property gathering a take-up figure of 84% on launch day.
She adds: “We anticipate the launch of Lentor Central Residences to be met with strong attraction as a result of its proximity to our Lentor Modern mall which is straight linked to the Lentor MRT station on the Thomson-East Coast Line”.
The development will consist of five 25-storey towers with 941 units, including a section of the initial Upper Thomson Middle school that will be preserved and adjusted for residential usage. It will also have covered access to Springleaf MRT Stop on the TEL.
Caveats on URA’s Realis data source show that the last unit offered at Lentorn Modern was a 1,130 sq ft, three-bedroom unit that obtained $2.4 million ($2,126 psf) on Jan 19. Residences at Lentor Modern first started for business in September 2022. This implies that the condo has actually been completely taken up in no more than 2 1/2 years since sales reservations started. Based upon caveats, the project accomplished a standard asking price of around $2,107 psf.
In its news release, GuocoLand states that the mall is presently “more than 50%” rented, involving to support occupants CS Fresh and ChildFirst.
Lentor Central Residences, a forthcoming project by GuocoLand, Hong Leong Holdings and CSC Land Group (Singapore), is targeted for launch in 1Q2025. The condominium comprises 477 units across two high-rise blocks.
Along with Lentor Modern, GuocoLand is creating 3 other ventures in the estate with its joint project partners. In July 2023, the developer, together with Hong Leong Holdings and TID, launched the 598-unit Lentor Hills Residences. The undertaking has actually sold 99% of units to date at a common cost of about $2,099 psf, based upon caveats lodged.
The 533-unit Lentor Mansion, created by GuocoLand and Hong Leong Holdings, was launched last March, with 75% sales accomplished throughout the initial two days of release. The project is now 97% offered with less than 20 units remaining offered, GuocoLand says.
Lentor Modern is a 99-year leasehold project making up 3 25-storey housing towers with a sum of 605 apartments. The towers oversee a 96,000 sq ft shopping center that will feature a 12,000 sq ft grocery store, a 10,000 sq ft child care center, and F&B and retail services. The property development is going to be incorporated with Lentor MRT Stop on the Thomson-East Coast Line (TEL).
“The response to Lentor Modern and our various other developments in the Lentor Hills estate highlights the strong interest for quality premium houses in the area,” says Dora Chng, housing director of GuocoLand.
Nearby, the upcoming property development at the Upper Thomson Road (Parcel B) site is targeted for debut in the second half of the year, GuocoLand says. The developer, along with Hong Leong Holdings, was granted the Government Land Sales (GLS) plot last April after the joint project partners sent the sold bid of $779.6 million for the 344,700 sq ft, 99-year leasehold site, showing a land price of $905 psf per plot ratio.
At the same time, units at the 558-unit Midtown Modern, located on Tan Quee Lan Street, fetched an usual price of about $2,825 psf. The 99-year leasehold apartment, which belongs to the Guoco Midtown mixed-use development, was first launched offer for sale in March 2021.
The final unit at Lentor Modern, GuocoLand’s incorporated development in the Lentor Hills estate, has been offered, which suggests that the 605-unit venture is currently fully taken up. The achievement comes on the back of Midtown Modern, which was also fully marketed since last December, GuocoLand states in a Jan 27 press release.
