The Urban Redevelopment Authority (URA) has awarded the tender for the Lentor Gardens site to a joint venture between GuocoLand (Singapore) Pte. Ltd. and Intrepid Investments Pte. Ltd. The tender for the site was launched in October 2022 and closed on April 4, 2023.
Located in a residential area, the site spans across 21,866.7 square meters and is permitted for residential development. The maximum permissible gross floor area (GFA) for the site is 45,921 square meters, which means that the winning tenderer has paid $10,600.82 per square meter of GFA.
GuocoLand and Intrepid Investments have won the site with a tender price of $486,800,222. This is a significant amount for a residential site, reflecting the strong demand for land in Singapore’s property market. The joint venture is expected to develop high-end residential properties on the site, which will add to the existing supply of luxury homes in the area.
The details of the awarded site and the successful tenderer:
|LOCATION||ALLOWABLE DEVELOPMENT||SITE AREA||MAXIMUM PERMISSIBLE GROSS FLOOR AREA (GFA)||SUCCESSFUL TENDERER||TENDERED PRICE ($PSM of GFA)|
|Lentor Gardens||Residential||21,866.7 m²||45,921 m²||GuocoLand (Singapore) Pte. Ltd. and Intrepid Investments Pte. Ltd.||$10,600.82|
In conclusion, the successful tender for the Lentor Gardens site by GuocoLand and Intrepid Investments shows that Singapore’s property market is still active and attractive to investors. The joint venture is expected to develop luxury residential properties, which will contribute to the growing demand for high-end homes in the area.
About Lentor Gardens
Lentor Gardens is an upcoming residential enclave nestled in the picturesque District 20 of Singapore. This new project is a part of the Lentor Hills Estate, which aims to create a sustainable, pedestrian-friendly neighborhood amidst verdant foliage. The development is situated just a stone’s throw away from Yio Chu Kang MRT, located on the North-South MRT line in Ang Mo Kio. Moreover, the Lentor Gardens project is less than 400m from the Lentor MRT station on the Thomson-East Coast Line (TEL), which is being gradually unveiled. The Lentor Gardens development is anticipated to house 530 exclusive residential units.
The Lentor Gardens development will boast of 55 facilities clustered into three thematic areas that include captivating, organic pools surrounded by resplendent gardens. The amenities also comprise a cutting-edge gym and fitness studio, a colossal, Olympic-sized swimming pool, a BBQ pit, and an abundance of community and green spaces. The development will have several bicycle racks, recycling facilities, and electric vehicle charging stations to facilitate the residents’ recycling efforts and promote sustainability.
The Lentor Gardens development is situated in the vicinity of highly-regarded educational institutions such as Presbyterian High School, Anderson Primary School, and CHIJ St. Nicholas Girls’ School. The future residents can look forward to an array of F&B options, shops, a supermarket, and child-care facilities that are part of the upcoming mixed-use development at Lentor Modern. Additionally, the Lentor Gardens development is a stone’s throw away from future hillock and linear parks, thereby providing the residents with an idyllic setting to immerse themselves in nature.
Lentor Gardens Residences