Lentor Central, Lentor Gardens and Lentor Hills Road (Parcel B) released in 1H2022 GLS land sale
PHOTO: URA
PUBLISHED ONMay 18, 2022 7:40 AMByJamie Wong
Three residential sites at Lentor – Lentor Central, Lentor Gardens and Lentor Hills Road (Parcel B) – have been released for application today by the Urban Redevelopment Authority (URA).
The three sites are part of the Government Land Sales (GLS) Programme for the first half of 2022 (1H2022).
| Location | Lentor Central | Lentor Gardens | Lentor Hills Road (Parcel B) |
| Site area | 13,444.3 m2 (1.34 ha) | 21,866.7 m2 (2.18 ha) | 10,819.0 m2 (1.08 ha) |
| Land use zoning | Residential | Residential | Residential |
| Maximum gross floor area | 40,333 m2 | 45,921 m2 | 22,720 m2 |
| Maximum building height | Technical height: 112 SHD | Technical height: 120 SHD | Technical height: 120 SHD |
| Number of storeys | Max 23 storeys | Low-rise zone: 8 storeys / High-rise zone: 16 storeys | Low-rise zone: 8 storeys / High-rise zone: 19 storeys |
| Estimated number of housing units* | 470 units | 530 units | 265 units |
| Lease period | 99 years | 99 years | 99 years |
| Project completion period** | 60 months | 60 months | 60 months |
*Actual number of housing units proposed by developer may vary
**From the date of acceptance of the tender by the Authority, up to date of issue of Temporary Occupation Permit for the whole of the proposed development
Among the three newly released plots, the Lentor Central site has the potential to be built up to a maximum of 23 storeys with a yield of 470 housing units. The Lentor Hills Road (Parcel B) site can be built within low-rise and high-rise zones of 8 storeys and 19 storeys, with a yield of 265 units in total.
Both these sites are on the Confirmed List and are now open for tender.
The third site, Lentor Gardens, is on the Reserve List and will only be launched for tender when a successful application with an acceptable price for the site is made.
All three sites have a combined potential yield of about 1,265 residential units.
Larger projects will require a longer time frame to complete, so developers can choose between the Lentor Central and Lentor Hills Road site depending on their budget and risk appetite.
Previous developments in Lentor
A previous site at Lentor Hills Road (Parcel A) was awarded to Intrepid Investments, GuocoLand, and TID Residential in January 2022, one of the first land sales since the cooling measures were introduced on Dec 16.
GuocoLand beat eight other offers to clinch the Lentor Central site (it will be the upcoming Lentor Modern) tender in July 2021 with a winning bid of $586.6 million ($1,060 psf ppr). This brings up the total number of developments in the Lentor cluster to four in total.
Mr Steven Tan, CEO of OrangeTee & Tie, expects bids for the new sites to be healthy. However, according to Tan, developers will also likely be mindful that supply in this area could increase with more land parcels slated for future release.
He projects seven to 10 bidders per plot, with a selling price of between $1,000 and $1,100 psf ppr for each site. This translates to a final bid price of $434.1 million to $477.6 million for Lentor Central, and $244.6 million to $269 million for Lentor Hills Road (Parcel B).
Lentor Hills Estate
Lentor Central, Lentor Gardens and Lentor Hills Road (Parcel B) sites are nestled within the new Lentor Hills Estate, part of the Ang Mo Kio planning area.
The sites are near the upcoming Hillock Park, so future residents will be able to access green spaces right at their doorstep, with the sprawling Thomson Nature Park being just over a kilometre away.
Amenities
With mixed-use development Lentor Modern slated to be completed in the future, residents in the neighbourhood can enjoy the convenience of amenities such as a supermarket, F&B outlets, and childcare centres.
Schools
The area is excellent for families, with popular schools such as Anderson Primary School, CHIJ St Nicholas Girls’ School and Mayflower Primary School nearby.
Parents with young children can send them to My First Skool at Block 601, just five minutes away on foot.
Accessibility
Lentor MRT station on the Thomson-East Coast Line will be a six to ten-minute walk away. Residents can get to Woodlands MRT within three stops.
Those who drive can access the SLE or CTE in under seven minutes via Upper Thomson Road or Yio Chu Kang Road.
Rare buying opportunity
Buyers looking for an unblocked view might want to keep an eye on these projects – the sites are situated within a landed property enclave, so units will give residents scenic views of greenery or landed houses.
HDB upgraders may find future developments here enticing, as private condos in the vicinity are few and far between. Tan notes a lack of upgrading opportunities in the area, which suggests buyers may face fierce competition for the condos when they finally launch.
The last condo launch was a freehold development The Calrose, back in 2005. It is currently transacting at an average selling price of $2.03 million ($1,457 psf).
The tender for the Lentor Central and Lentor Hills Road (Parcel B) sites will close at 12pm on Sept 13, 2022.
This article was first published in 99.co.