GuocoLand’s Lentor Modern and Midtown Modern fully sold
The development will comprise 5 25-storey towers with 941 units, consisting of a part of the original Upper Thomson High school which will be preserved and conformed for residential use. It is going to also have sheltered access to Springleaf MRT Terminal on the TEL.
Lentor Modern was the very first project to be started in the Lentor Hills estate. It saw a strong response upon launch, with the venture amassing a take-up figure of 84% on launch day.
On the other hand, units at the 558-unit Midtown Modern, situated on Tan Quee Lan Street, fetched a fair cost of about $2,825 psf. The 99-year leasehold condo, which belongs to the Guoco Midtown mixed-use property development, was first released offer for sale in March 2021.
Nearby, the upcoming property development at the Upper Thomson Road (Parcel B) site is intended for launch 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 associates sent the offered quote of $779.6 million for the 344,700 sq ft, 99-year leasehold site, showing a land price of $905 psf per plot ratio.
Caveats on URA’s Realis database show that the last unit marketed at Lentorn Modern was a 1,130 sq ft, three-bedroom unit which brought $2.4 million ($2,126 psf) on Jan 19. Houses at Lentor Modern first debuted for business in September 2022. This suggests that the condo unit has actually been completely occupied in no more than 2 1/2 years ever since sales bookings started. Based on cautions, the project achieved an average selling price of about $2,107 psf.
“The feedback to Lentor Modern and our various other projects in the Lentor Hills estate accentuate the solid need for quality costs residences in the location,” says Dora Chng, residential supervisor of GuocoLand.
In its press release, GuocoLand states that the shopping mall is currently “more than 50%” leased, including to anchor renters CS Fresh and ChildFirst.
She includes: “We anticipate the launch of Lentor Central Residences to be fulfilled with strong attraction because of its distance to our Lentor Modern mall which is straight connected to the Lentor MRT station on the Thomson-East Coast Line”.
The 533-unit Lentor Mansion, established by GuocoLand and Hong Leong Holdings, was introduced last March, with 75% sales attained during the very first 2 days of release. The project is now 97% marketed with lower than 20 units remaining available, GuocoLand states.
In addition to Lentor Modern, GuocoLand is developing three additional ventures in the estate with its joint project companions. In July 2023, the property developer, together with Hong Leong Holdings and TID, released the 598-unit Lentor Hills Residences. The undertaking has actually marketed 99% of units to date at an average rate of around $2,099 psf, based on caveats lodged.
Emerald Of Katong Jalan Tembusu Road
Lentor Central Residences, an upcoming project by GuocoLand, Hong Leong Holdings and CSC Land Group (Singapore), is targeted for launch in 1Q2025. The condo makes up 477 units across 2 high-rise blocks.
The final unit at Lentor Modern, GuocoLand’s incorporated project in the Lentor Hills estate, has already been marketed, which means that the 605-unit venture is now totally taken on. The success comes on the behind Midtown Modern, that was also totally sold off since last December, GuocoLand says in a Jan 27 notice.
Lentor Modern is a 99-year leasehold property making up 3 25-storey non commercial towers with an overall of 605 flats. The towers sit on top of a 96,000 sq ft shopping center that are going to feature a 12,000 sq ft supermarket, a 10,000 sq ft child care centre, and F&B and retail offerings. The project will be integrated with Lentor MRT Station on the Thomson-East Coast Line (TEL).
