The Lentor Central site will be redeveloped into a mixed-use development, with 600 residential units and more than 96,000 sq ft of commercial, food and beverage (F&B) and retail spaces. Source: URA
The tender for the land plot at Lentor Central has been awarded to GuocoLand, which submitted the highest bid of $784.1 million, announced the Urban Redevelopment Authority (URA) on Thursday (29 July).
The price works out to a land rate of $1,204 per sq ft per plot ratio (psf ppr).
GuocoLand said it would develop the site into a mixed-use development of three 25-storey towers with about 600 residential units and over 96,000 sq ft of commercial, food and beverage (F&B) and retail spaces on the ground floor.
To be integrated with the upcoming Lentor MRT station on the Thomson-East Coast Line, the development is expected to be launched in the second half of 2022.
It noted that the site—which was launched on 15 April and received nine bids during the close of its tender on 22 July—is close to nature reserves and parks including the Thomson Nature Park, Bishan Park, Lower Seletar Reservoir Park, Upper Seletar Reservoir Park as well as Lower Peirce Reservoir Park.
It is also near various schools such as Anderson Primary School, Catholic High School, CHIJ St Nicholas Girls’ School, Presbyterian High School, Raffles Institution, as well as the French International School, Anderson Serangoon Junior College and Nanyang Polytechnic.
“With our upcoming mixed-use development, we will bring fresh ideas to the neighbourhood while paying homage to the location and the lush greenery in the vicinity. The development will provide the Lentor Hills community with new amenities and great convenience while pushing boundaries in the realms of liveability and sustainability, principles for which Guocoland has become renowned,” said Dora Chng, General Manager (Residential) at GuocoLand.
Cheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email: firstname.lastname@example.org