Lentor Central site awarded to GuocoLand
The offer for the ground lot at Lentor Central has actually been assigned to GuocoLand, that handed in the highest quote of $7hundred 84.1 mil, published the Urban Redevelopment Authority on Thursday 29 Jul.
The deal works out to a land cost of $One thousand Two hundred and Four psf per plot ratio.
GuocoLand claimed it would definitely build the site in to a mixed-use building of three 25-storey towers alongside around Six hundred non commercial apartments and even beyond 96K sq feet of business, F and B together with retail sectors on the 1st storey.
To become harmonized alongside the forthcoming Lentor Mass Rapid Transit terminal along the TEL, the property is assumed to be introduced on the 2nd half of ’22.
GuocoLand considered in which the spot, which was launched on 15April and even took in 9 offers at the time the conclusion of its tender on 22 July, is adjacent to outdoors reserves and gardens including the Thomson Nature Park, Bishan Park, Lower Seletar Reservoir Park, Upper Seletar Reservoir Park as well as Lower Peirce Reservoir Park.
It is in addition neighboring numerous institutions which include APS, Catholic High Sch, CHIJ St Nicks Girls’ School, PHS, RI, along with the FIS, Anderson Serangoon Jnr College plus Nanyang Poly.
“With our coming different use development, we definitely will bring innovative choices to the area while glorifying the locality together with the rich greens in the location. The property development definitely will deliver the Lentor Hills town with brand new improvements as well as wonderful satisfaction bit moving perimeters in the worlds of liveability also durability, standards for that Guocoland has transformed into renowned,” explained Dora Chng, General Manager (Housing) at GuocoLand.