The joint venture (JV) between GuocoLand and Hong Leong Holdings’ (HLHL) wholly owned subsidiary, Intrepid Investments, has been awarded the Lentor Gardens land parcel. They were the sole tenderers of the 99-year leasehold site, at a bid price of $486.8 million.
This is the second site acquisition for HLHL and GuocoLand’s third within the Lentor Hills estate, a private residential enclave surrounded by land estates and low- to mid-rise condominiums.
The site, which measures 235,371 sq ft (equivalent to 21,866.7 sq m), will yield a maximum permissible gross floor area of 494,289 sq ft (equivalent to 45,921 sq m).
Mr Cheng Hsing Yao, Chief Executive Officer of GuocoLand Group, said, “We have a strong track record in creating high-end residential projects with innovative concepts. We have also demonstrated our capabilities in transforming and uplifting neighbourhoods through our developments, such as Guoco Tower for Tanjong Pagar and Guoco Midtown for the Beach Road-Bugis area. For the Lentor estate, we and our partners will position this new neighbourhood into a new premium residential estate with our various projects in the area.”
“The Lentor estate has tremendous potential. We are pleased to once again partner GuocoLand in developing high quality and distinctive residential homes in this exciting and transformed area, following the development of Lentor Hills Residences which will be launched soon,” said Mr Loke Kee Yeu, General Manager (Projects), Hong Leong Holdings Limited.
For the new development at Lentor Gardens, the JV plans to build a high-end residential development with around 530 units based on modern concepts of living amidst nature and greenery. The development will comprise a combination of 8-storey blocks and 16-storey towers with sky terraces. More than 6,000 sq ft of childcare facilities will provide added convenience to families with young children,
The following features of the Lentor Gardens site make it an ideal residential location.
- Residents of the new development will enjoy unblocked views of the vast greenery in the vicinity. Besides being close to several nature reserves and parks, the Lentor Gardens site will have a new Hillock Park next to it and a future Linear Park just a few minutes away. There will also be seamless pedestrian and cycling connectivity as the neighbourhood is developed.
- The Lentor mass rapid transit (“MRT”) station, part of the Thomson-East Coast Line (“TEL”), is just a short 5-minute walk away via a seamless sheltered walkway. When the TEL is completed around 2025, residents of the new development will have convenient access to many parts of the island and be able to connect to all the major MRT lines.
- Residents of the upcoming development will have convenient access to more than 96,000 sq ft of commercial, F&B and retail spaces, including a supermarket, at Lentor Modern mixed-use development currently being built above Lentor MRT station.
- The Lentor Gardens site is close to several established schools, such as CHIJ St Nicholas Girls’ School, which is about 1km away, Anderson Primary School, Presbyterian High School, Eunoia Junior College, as well as tertiary institutions and international schools, such as Nanyang Polytechnic and the French International School.
