GuocoLand to set new benchmark with new project at Lentor Central to launch in 2H2022

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/ EdgeProp Singapore
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July 30, 2021 8:18 PM SGT
Location map of the upcoming mixed-use development at Lentor Central, with 600 residential units and a 96,000 sq ft commercial podium (Source: URA)
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SINGAPORE (EDGEPROP) - Following URA’s announcement yesterday that GuocoLand had been awarded the 99-year leasehold site at Lentor Central with a bid of $784.1 million ($1,205 psf per plot ratio), the property group announced that it will be developing the site into a mixed-use development with three 25-storey towers of 600 residential units, with a double-volume sky terrace in each tower. (See also: GLS sites at Lentor Central and Tampines Street 62 up for tender)
The 186,000 sq ft site has a gross floor area (GFA) of 651,007 sq ft. The ground floor will have 96,000 sq ft of commercial, F&B and retail space, including a supermarket and childcare facilities. The development will be integrated with the upcoming Lentor MRT station on the Thomson-East Coast Line, which is scheduled to be operational by end August this year.
The site is close to nature reserves and parks, including the 50ha Thomson Nature Park, Bishan Park and Upper Seletar as well as Lower Seletar Reservoir Park and Lower Peirce Reservoir Park. In future, residents will have access to two more parks, Hillock Park and Linear Park, both near the development at Lentor Central.
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For families with school-going children, established schools in the vicinity include Anderson Primary School, CHIJ St Nicholas Girls’ School, Catholic High School and Raffles Institution. The new development is expected to be launched sometime in the second half of 2022.
“At 25 storeys, the new development will be a new landmark for the Lentor area when it’s completed,” says Desmond Sim, CEO of Edmund Tie. “Given that the surrounding developments are low-rise, with predominantly landed homes and low-rise condominiums, future residents will be able to enjoy unique views of the surrounding nature reserves and parks.”
The 96,000 sq ft commercial podium will be a new catchment area for the residents in the enclave as well as for those working in the nearby Tagore Industrial estate, notes Sim. “It will have a well-rounded shopping crowd throughout the week, and not just the weekends. The bonus is that it could be another pit stop for those who go trekking at the Thomson Nature Park.” (See: Find Singapore commercial properties with our commercial directory)
The project is expected to be launched sometime in 2H2022. Based on the record land bid price of $1,204 psf ppr, GuocoLand is expected to set a new benchmark for the Lentor-Yio Chu Kang area. “After all, the last project to be launched in that area was probably, Meadows @ Peirce, and that was in 2009,” says Sim.
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The upcoming development is expected to provide the Lentor Hills community with new amenities and great convenience, while pushing boundaries in the realms of liveability and sustainability, principles for which Guocoland has become renowned, according to Dora Chng, GuocoLand general manager (Residential) in a statement.
Indeed, GuocoLand is “known for transforming neighbourhoods as can be seen in Tanjong Pagar and the upcoming Midtown area at Bugis-Beach Road,” says Cheng Hsing Yao, CEO of GuocoLand Group. “We see immense potential for this project to redefine the Lentor Hills area as an exciting residential and lifestyle destination.”
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