GuocoLand’s Lentor Modern and Midtown Modern fully sold
Caveats on URA’s Realis database display that the last unit marketed at Lentorn Modern was a 1,130 sq ft, three-bedroom unit which obtained $2.4 million ($2,126 psf) on Jan 19. Homes at Lentor Modern first launched for sale in September 2022. This implies that the condo has been completely taken up in less than 2 1/2 years since sales bookings started. Based on caveats, the venture attained a common market price of around $2,107 psf.
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Lentor Modern was the first property to be started in the Lentor Hills estate. It saw a good feedback upon launch, with the property amassing a take-up rate of 84% on launch day.
Lentor Central Residences, a forthcoming development by GuocoLand, Hong Leong Holdings and CSC Land Group (Singapore), is targeted for release in 1Q2025. The apartment comprises 477 units across 2 sky-high blocks.
The property will consist of five 25-storey high rises with 941 units, including a portion of the original Upper Thomson Middle school that will certainly be conserved and adapted for residential use. It will also have covered access to Springleaf MRT Terminal on the TEL.
The 533-unit Lentor Mansion, created by GuocoLand and Hong Leong Holdings, was introduced last March, with 75% sales achieved throughout the initial two days of open. The plan is now 97% marketed with lower than 20 units remaining out there, GuocoLand states.
In its press release, GuocoLand says that the mall is currently “more than 50%” leased, involving to anchor renters CS Fresh and ChildFirst.
At the same time, units at the 558-unit Midtown Modern, situated on Tan Quee Lan Street, brought a fair cost of around $2,825 psf. The 99-year leasehold condominium, which is part of the Guoco Midtown mixed-use project, was first launched available in March 2021.
Nearby, the upcoming property development at the Upper Thomson Road (Parcel B) site is targeted for launch in the 2nd half of the year, GuocoLand mentions. The developer, together with Hong Leong Holdings, was granted the Government Land Sales (GLS) plot last April after the joint project partners sent the offered proposal of $779.6 million for the 344,700 sq ft, 99-year leasehold site, reflecting a land price of $905 psf per plot ratio.
In addition to Lentor Modern, GuocoLand is creating 3 other projects in the estate with its joint venture partners. In July 2023, the property developer, together with Hong Leong Holdings and TID, introduced the 598-unit Lentor Hills Residences. The project has actually marketed 99% of units to day at an average cost of approximately $2,099 psf, based upon caveats lodged.
Lentor Modern is a 99-year leasehold project comprising 3 25-storey housing high rises with a sum of 605 houses. The towers administer a 96,000 sq ft shopping mall that are going to incorporate a 12,000 sq ft supermarket, a 10,000 sq ft child care center, and F&B and retail services. The development will be integrated with Lentor MRT Stop on the Thomson-East Coast Line (TEL).
The final unit at Lentor Modern, GuocoLand’s incorporated development in the Lentor Hills estate, has already been sold, which means that the 605-unit project is at present totally taken up. The accomplishment comes on the back of Midtown Modern, that was as well completely sold off since last December, GuocoLand shares in a Jan 27 notice.
“The feedback to Lentor Modern and our other property developments in the Lentor Hills estate emphasize the solid need for high quality costs residences in the location,” says Dora Chng, property director of GuocoLand.
She adds: “We anticipate the launch of Lentor Central Residences to be satisfied with strong interest because of its closeness to our Lentor Modern shopping center which is directly connected to the Lentor MRT terminal on the Thomson-East Coast Line”.