GuocoLand’s Lentor Modern and Midtown Modern fully sold

Caveats on URA’s Realis data source display that the last unit marketed at Lentorn Modern was a 1,130 sq ft, three-bedroom unit which brought $2.4 million ($2,126 psf) on Jan 19. Residences at Lentor Modern initially debuted for sale in September 2022. This suggests that the condo has actually been totally occupied in less than 2 1/2 years ever since sales bookings started. Based upon cautions, the project achieved a common asking price of approximately $2,107 psf.

The 533-unit Lentor Mansion, established by GuocoLand and Hong Leong Holdings, was launched last March, with 75% sales accomplished throughout the initial 2 days of release. The project is now 97% offered with less than 20 units remaining offered, GuocoLand says.

She includes: “We anticipate the launch of Lentor Central Residences to be fulfilled with solid attention as a result of its closeness to our Lentor Modern mall which is straight linked to the Lentor MRT station on the Thomson-East Coast Line”.

Lentor Modern was the initial development to be launched in the Lentor Hills estate. It saw a strong response upon launch, with the venture garnering a take-up rate of 84% on launch day.

Nearby, the upcoming development at the Upper Thomson Road (Parcel B) site is intended for debut in the 2nd part of the year, GuocoLand mentions. The property developer, together with Hong Leong Holdings, was rewarded the Government Land Sales (GLS) plot last April after the joint venture partners sent the sold proposal of $779.6 million for the 344,700 sq ft, 99-year leasehold site, mirroring a land price of $905 psf per plot ratio.

In its news release, GuocoLand mentions that the mall is currently “more than 50%” leased, including to support lessees CS Fresh and ChildFirst.

Lentor Modern is a 99-year leasehold development consisting of three 25-storey non commercial towers with a sum of 605 flats. The towers administer a 96,000 sq ft shopping mall that will include a 12,000 sq ft grocery store, a 10,000 sq ft childcare centre, and F&B and retail offerings. The development is going to be integrated with Lentor MRT Stop on the Thomson-East Coast Line (TEL).

The development will make up 5 25-storey towers with 941 units, including a part of the initial Upper Thomson Middle school which will certainly be saved and adjusted for household usage. It is going to also have sheltered access to Springleaf MRT Terminal on the TEL.

The last unit at Lentor Modern, GuocoLand’s integrated project in the Lentor Hills estate, has already been sold, which indicates that the 605-unit project is now completely taken on. The accomplishment takes place the behind Midtown Modern, that was additionally totally sold off since last December, GuocoLand shares in a Jan 27 news release.

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“The feedback to Lentor Modern and our various other developments in the Lentor Hills estate accentuate the solid need for quality premium homes in the location,” states Dora Chng, housing director of GuocoLand.

Meanwhile, units at the 558-unit Midtown Modern, situated on Tan Quee Lan Road, fetched an usual cost of about $2,825 psf. The 99-year leasehold apartment, which belongs to the Guoco Midtown mixed-use development, was initially introduced for sale in March 2021.

Lentor Central Residences, a future development by GuocoLand, Hong Leong Holdings and CSC Land Group (Singapore), is targeted for start in 1Q2025. The apartment consists of 477 units across 2 sky-high blocks.

In addition to Lentor Modern, GuocoLand is creating three other ventures in the estate with its joint venture companions. In July 2023, the developer, together with Hong Leong Holdings and TID, launched the 598-unit Lentor Hills Residences. The venture has actually sold 99% of units to date at a standard price of approximately $2,099 psf, based upon caveats lodged.