GuocoLand’s Lentor Modern and Midtown Modern fully sold
Lentor Central Residences, a forthcoming development by GuocoLand, Hong Leong Holdings and CSC Land Group (Singapore), is targeted for release in 1Q2025. The condo consists of 477 units across two sky-high blocks.
She adds: “We expect the launch of Lentor Central Residences to be fulfilled with solid attention due to its proximity to our Lentor Modern shopping center which is straight linked to the Lentor MRT station on the Thomson-East Coast Line”.
Lentor Modern was the initial property to be launched in the Lentor Hills estate. It saw a solid response upon launch, with the project amassing a take-up figure of 84% on launch day.
In its news release, GuocoLand says that the mall is currently “more than 50%” rented, involving to support occupants CS Fresh and ChildFirst.
Cautions on URA’s Realis data source demonstrate to that the last unit offered 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 implies that the condo has been completely occupied in less than 2 1/2 years since sales reservations commenced. Based upon cautions, the project achieved a common market price of about $2,107 psf.
The 533-unit Lentor Mansion, developed by GuocoLand and Hong Leong Holdings, was launched last March, with 75% sales attained throughout the initial 2 days of release. The plan is now 97% marketed with lower than 20 units remaining offered, GuocoLand shares.
Nearby, the upcoming property development at the Upper Thomson Road (Parcel B) site is targeted for debut in the 2nd half of the year, GuocoLand mentions. The developer, along with Hong Leong Holdings, was awarded the Government Land Sales (GLS) plot last April after the joint venture partners submitted 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.
Along with Lentor Modern, GuocoLand is creating 3 additional ventures 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 offered 99% of units to day at an average rate of approximately $2,099 psf, based on cautions lodged.
The property is going to make up 5 25-storey high rises with 941 units, consisting of a portion of the initial Upper Thomson Middle school which will certainly be saved and conformed for non commercial use. It will also have sheltered access to Springleaf MRT Stop on the TEL.
The last unit at Lentor Modern, GuocoLand’s integrated development in the Lentor Hills estate, has been offered, which implies that the 605-unit plan is now fully occupied. The achievement comes on the behind Midtown Modern, which was also totally sold off since last December, GuocoLand states in a Jan 27 news release.
Lentor Modern is a 99-year leasehold property comprising 3 25-storey residential high rises with a total of 605 homes. The towers sit on top of a 96,000 sq ft shopping mall that are going to feature a 12,000 sq ft grocery store, a 10,000 sq ft child care facility, and F&B and retail offerings. The property development is going to be incorporated with Lentor MRT Station on the Thomson-East Coast Line (TEL).
At the same time, units at the 558-unit Midtown Modern, located on Tan Quee Lan Road, brought an usual rate of approximately $2,825 psf. The 99-year leasehold condo, which is part of the Guoco Midtown mixed-use project, was first introduced available for sale in March 2021.
“The response to Lentor Modern and our various other property developments in the Lentor Hills estate highlights the solid need for quality costs residences in the location,” claims Dora Chng, property supervisor of GuocoLand.
