GuocoLand to set new benchmark with new project at Lentor Central
Following URA’s announcement yesterday that GuocoLand had won 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 turn the site into a mixed-use development with three 25-storey towers of 600 residential units, each with a double-volume sky terrace.
The 186,000-square-foot plot has a GFA of 651,007 square feet. The bottom floor will have a supermarket and daycare facilities, as well as 96,000 square feet of commercial, F&B, and retail space. The project will be connected with the Thomson-East Coast Line’s forthcoming Lentor MRT station, which is expected to open by the end of August.
The property is close to nature reserves and parks such as the 50-hectare Thomson Nature Park, Bishan Park, Upper Seletar, Lower Seletar Reservoir Park, and Lower Peirce Reservoir Park. Residents will soon have access to two more parks, Hillock Park and Linear Park, both located near the Lentor Central development.
Anderson Primary School, CHIJ St Nicholas Girls’ School, Catholic High School, and Raffles Institution are among the established schools in the area for families with school-aged children. The new project is set to debut in the second half of 2022. “When completed, the new development will be a new landmark for the Lentor neighborhood,” says Desmond Sim, Edmund Tie’s CEO. “Future inhabitants will be able to enjoy unique vistas of the surrounding nature reserves and parks because the surrounding projects are low-rise, with mostly landed homes and low-rise condominiums.”
The 96,000-square-foot commercial pedestal will serve inhabitants of the enclave as well as those employed in the nearby Tagore Industrial Estate, according to Sim. “It will attract a diverse shopping clientele during the week, not simply on weekends.” The added benefit is that it might be another pit stop for hikers at Thomson Nature Park.” (For more information, see our commercial directory in Singapore.)
The project is scheduled to begin in the second half of 2022. GuocoLand is likely to create a new standard for the Lentor-Yio Chu Kang area with its record land bid price of $1,204 psf ppr. “After all, Meadows was arguably the most recent project to be launched in that area.”
According to Dora Chng, Guocoland general manager (Residential), “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 Cheng Hsing Yao, CEO of GuocoLand Group, GuocoLand is “renowned for reshaping communities, as witnessed in Tanjong Pagar and the planned Midtown region at Bugis-Beach Road.” “We believe this project has enormous potential to reposition Lentor Hills as an appealing residential and lifestyle destination.”
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