GuocoLand’s Lentor Modern and Midtown Modern fully sold
Lentor Central Residences, an upcoming development by GuocoLand, Hong Leong Holdings and CSC Land Group (Singapore), is intended for launch in 1Q2025. The condo comprises 477 units across two sky-high blocks.
Lentor Modern was the initial development to be started in the Lentor Hills estate. It saw a strong action upon launch, with the venture gathering a take-up figure of 84% on launch day.
The last unit at Lentor Modern, GuocoLand’s integrated development in the Lentor Hills estate, has already been sold, which indicates that the 605-unit venture is currently completely occupied. The achievement comes on the behind Midtown Modern, which was also totally sold as of last December, GuocoLand shares in a Jan 27 press release.
The 533-unit Lentor Mansion, created by GuocoLand and Hong Leong Holdings, was introduced last March, with 75% sales accomplished throughout the first two days of release. The project is now 97% sold with less than 20 units remaining available, GuocoLand states.
Meanwhile, units at the 558-unit Midtown Modern, situated on Tan Quee Lan Road, fetched a fair price of about $2,825 psf. The 99-year leasehold condominium, which belongs to the Guoco Midtown mixed-use project, was initially launched up for sale in March 2021.
Along with Lentor Modern, GuocoLand is creating three additional ventures in the estate with its joint venture companions. In July 2023, the property developer, along with Hong Leong Holdings and TID, introduced the 598-unit Lentor Hills Residences. The venture has sold 99% of units to day at a common rate of approximately $2,099 psf, based upon caveats lodged.
In its press release, GuocoLand states that the shopping center is currently “more than 50%” rented, including to anchor renters CS Fresh and ChildFirst.
Not far away, the upcoming development at the Upper Thomson Road (Parcel B) site is intended for debut in the second part of the year, GuocoLand declares. The developer, together with Hong Leong Holdings, was awarded the Government Land Sales (GLS) plot last April after the joint project associates submitted the sold quote of $779.6 million for the 344,700 sq ft, 99-year leasehold site, reflecting a land rate of $905 psf per plot ratio.
The development will consist of 5 25-storey towers with 941 units, including a section of the original Upper Thomson Middle school that will certainly be conserved and conformed for residential usage. It is going to also have covered access to Springleaf MRT Stop on the TEL.
She adds: “We expect the launch of Lentor Central Residences to be fulfilled with strong interest as a result of its proximity to our Lentor Modern mall which is directly attached to the Lentor MRT station on the Thomson-East Coast Line”.
Caveats on URA’s Realis data source show that the last unit marketed at Lentorn Modern was a 1,130 sq ft, three-bedroom unit that obtained $2.4 million ($2,126 psf) on Jan 19. Houses at Lentor Modern initially started for business in September 2022. This implies that the condominium has been fully taken up in no more than 2 1/2 years since sales bookings began. Based upon cautions, the venture achieved an average market price of around $2,107 psf.
Lentor Modern is a 99-year leasehold development comprising three 25-storey housing high rises with a total of 605 flats. The towers sit on top of a 96,000 sq ft shopping center that are going to feature a 12,000 sq ft supermarket, a 10,000 sq ft child care facility, and F&B and retail services. The property development is going to be incorporated with Lentor MRT Terminal on the Thomson-East Coast Line (TEL).
“The response to Lentor Modern and our other projects in the Lentor Hills estate emphasize the strong demand for high quality premium houses in the area,” states Dora Chng, residence director of GuocoLand.
