Lentor Central site awarded to GuocoLand
The bidding for the ground plot at Lentor Central has actually been handed out to GuocoLand, in which sent the highest value offer of $Seven hundred Eighty Four point One million, stated the URA on Thursday 29 July.
The rate figures out to a land premium of $One thousand Two hundred and Four per sq feet per plot ratio.
GuocoLand mentioned it would most likely produce the ground right into a different usage development of 3 25-storey high rises alongside almost 6hundred residence apartments also accross 96thousand sq ft of industrial, Food & Beverage and retail spaces on the first level.
To get integrated with the forthcoming Lentor Mass Rapid Transit station on the TEL, the creation is counted on for being introduced during the second part of ’22.
It noted that the spot, that was opened on 15Apr also reaped 9 quotes at the time of the conclusion of its own bidding on 22 July, is nearby to outdoors reserves and recreation areas including the Thomson Nature Park, Bishan Park, Lower Seletar Reservoir Park, Upper Seletar Reservoir Park in addition to Lower Peirce Reservoir Park.
It is also close to various academic institutions including Anderson Pri School, Catholic High School, CHIJ SNG School, PHS, RI, and also the FIS, Anderson Serangoon Junior College and Nanyang Polytechnic.
“With our next mixed-use building, we definitely will deliver fresh recommendations to the vicinity while at the same time glorifying the locality and the luxurious greenery around. The property is going to generate the Lentor Hills town with all-new amenities along with fantastic convenience while at the same time constraining perimeters in the realms of liveability and also durability, fundamentals for that Guocoland has ended up being recognised,” reported Dora Chng, General Manager (Non Commercial) at GuocoLand.