URA awards tender for plot at Lentor Central to GuocoLand
The Urban Redevelopment Authority said on Thursday that GuocoLand, a property giant, has won the contract for a 99-year leasehold site at Lentor Central after submitting the highest price of $784.1 million (July 29).
The price is $1,204 per square foot per plot ratio, or $12,964.83 per square metre of gross floor area.
The Straits Times previously reported that GuocoLand’s offer was 4.5 percent higher than the second-highest offer of $750 million.
The developer plans to build a mixed-use development on the site, with three 25-storey towers housing 600 residential units and commercial, food and beverage, and retail space on the ground floor.
The project will be seamlessly connected with the Thomson-East Coast Line’s future Lentor MRT station, which is set to open in the second half of next year.
Anderson Primary, CHIJ St Nicholas Girls, Catholic High, Presbyterian High, Raffles Institution, Anderson Serangoon Junior College, Nanyang Polytechnic, and the French International School are all within walking distance.
The Lentor Central plot, which was put out to tender on April 15, is close to a lot of greenery, such as Thomson Nature Park and Bishan-Ang Mo Kio parks, the upper and lower Seletar Reservoir locales, and Lower Peirce Reservoir Park.
The deadline for submissions was July 22.
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