GuocoLand’s Lentor Modern and Midtown Modern fully sold
Lentor Modern was the first property to be kicked off in the Lentor Hills estate. It saw a good action upon launch, with the project garnering a take-up rate of 84% on launch day.
She includes: “We expect the launch of Lentor Central Residences to be met with strong attention because of its distance to our Lentor Modern mall which is straight linked to the Lentor MRT station on the Thomson-East Coast Line”.
In its press release, GuocoLand says that the mall is currently “more than 50%” leased, involving to support tenants CS Fresh and ChildFirst.
At the same time, units at the 558-unit Midtown Modern, situated on Tan Quee Lan Road, fetched an average rate of about $2,825 psf. The 99-year leasehold condo, which belongs to the Guoco Midtown mixed-use development, was first launched for sale in March 2021.
Cautions on URA’s Realis database demonstrate to that the last unit marketed at Lentorn Modern was a 1,130 sq ft, three-bedroom unit that brought $2.4 million ($2,126 psf) on Jan 19. Homes at Lentor Modern first launched for sale in September 2022. This suggests that the condominium has actually been totally taken up in less than 2 1/2 years since sales bookings began. Based upon cautions, the venture attained a standard selling price of about $2,107 psf.
In addition to Lentor Modern, GuocoLand is creating 3 other ventures in the estate with its joint venture partners. In July 2023, the property developer, together with Hong Leong Holdings and TID, launched the 598-unit Lentor Hills Residences. The undertaking has actually marketed 99% of units to day at an average rate of approximately $2,099 psf, based on cautions lodged.
The property will make up five 25-storey high rises with 941 units, consisting of a portion of the original Upper Thomson Middle school that will be saved and adjusted for household usage. It will also have sheltered access to Springleaf MRT Station on the TEL.
The final unit at Lentor Modern, GuocoLand’s incorporated project in the Lentor Hills estate, has already been marketed, which suggests that the 605-unit venture is at present fully taken up. The success comes on the behind Midtown Modern, that was as well totally sold off since last December, GuocoLand says in a Jan 27 notice.
The 533-unit Lentor Mansion, established by GuocoLand and Hong Leong Holdings, was launched last March, with 75% sales achieved throughout the initial two days of launch. The plan is now 97% sold with lower than 20 units remaining offered, GuocoLand states.
“The feedback to Lentor Modern and our other property developments in the Lentor Hills estate accentuate the strong interest for quality premium houses in the location,” states Dora Chng, residence director of GuocoLand.
Close by, the upcoming development at the Upper Thomson Road (Parcel B) site is targeted for launch in the second half of the year, GuocoLand says. The developer, together with Hong Leong Holdings, was granted the Government Land Sales (GLS) plot last April after the joint project associates sent the sold bid of $779.6 million for the 344,700 sq ft, 99-year leasehold site, showing a land rate of $905 psf per plot ratio.
Lentor Central Residences, an upcoming development by GuocoLand, Hong Leong Holdings and CSC Land Group (Singapore), is targeted for release in 1Q2025. The condominium makes up 477 units across 2 high-rise blocks.
Lentor Modern is a 99-year leasehold development comprising three 25-storey non commercial towers with a total of 605 homes. The towers sit on top of a 96,000 sq ft shopping mall that are going to include a 12,000 sq ft grocery store, a 10,000 sq ft childcare facility, and F&B and retail services. The development is going to be incorporated with Lentor MRT Stop on the Thomson-East Coast Line (TEL).
