Hong Kong-led joint venturers Hong Leong Holdings, GuocoLand and TID were awarded the tender to residential site Lentor Hills Road (Parcel A) after achieving the top bid of $586.6 million or $1,060 psf per plot ratio on January 18, 2022. The joint venturers beat out contenders Sim Lian Group as well as another joint venture group formed by UOL Group, Singapore Land Group and Kheng Leong Co.
The site received a somewhat subdued response from property developers, receiving only four bids compared to the usual 9 to 15 for private residential GLS tenders. Property watchers suggest that cooling measures have made property developers more cautious when choosing residential sites for land bank expansion.
Released for sale in the second half of 2021, bids for Lentor Hills Road (Parcel A) under the Government Land Sales (GLS) Programme. Together with Jalan Tembusu, these sites were amongst the first to secure successful biddings following property cooling measures on Dec 16, 2021.
Future plans for development of Lentor Hills Road Parcel A
The star studded property developer team will no doubt have big plans to develop this land in conjunction with amenities and facilities that will be sprouting up over the next decade. Buyers and investors can rest assured knowing that the land is in the good hands of developers with impressive track records.
In particular, Hong Leong Holdings had a hand in building the likes of The Residences at W Singapore-Sentosa Cove and One Shenton. Similarly, Guoco Land’s Midtown Modern was awarded top honours in the categories of Condo Development, Condo Architectural Design, and Landscape Architectural Design at the 11th Asia Property Awards (Singapore) 2021.
A spokesperson from Hong Leong Holdings also confirmed their plans to develop an estimated 600-unit residential development. They hope that the surrounding amenities, coupled with Lentor MRT station being just a 6-minute walk away will add to the development’s appeal.
According to statistics from the Urban Redevelopment Authority (URA), the development on Lentor Hills Road (Parcel A) will have a 99-year leasehold period. Having a technical height of 110 metres, residential buildings on this site are allowed to reach a height of up to 23 storeys.
Estimated PSF launch price of Lentor Hills Parcel A
Taking into account recent transactions of properties in the surrounding area of Yio Chu Kang and recent rises in the property market, real estate watchers are estimating for the launch price of Lentor Hills Parcel A to be approximately $1,800 to $1,900 psf (subject to changes).
Overview of recently transacted condo units surrounding Lentor Hills (Parcel A). Statistics are based on condominiums located within a 1.1km radius of the residential land.
Good accessibility that will get even better
Despite not being centrally-located, Lentor Hills Road Parcel A still scores major points for connectivity. The already operational Lentor MRT station, which was part of the first opening phase of the Thomson-East Coast Line on 28 August 2021, connects residents to the NorthSouth Line and Circle Line via Woodlands MRT and Caldecott MRT respectively.
The relative lack of amenities in the area should not deter investors and home buyers from laying their bids. On the contrary, this means that Lentor Hills has a high growth potential ceiling. As one of the neighbourhoods being targeted by URA for development and integration, residents can look forward to fresh amenities over the next 10 to 15 years.
Future residents can also look forward to quick transfers to the Downtown Line via Stevens MRT as well as the NorthEast and EastWest Line via Outram Park MRT once these stations are completed in the second half of 2022.
Drivers also have access to Central Expressway (CTE), Seletar Expressway (SLE), and the upcoming North-South Corridor (NSC). Slated for completion in 2027, the NSC is a major project featuring the longest corridor in Singapore at 21.5km.
The project promises to bring a whole new level of connectivity to residents, by connecting Yio Chu Kang and other northern neighbourhoods with the city centre on top of having dedicated bus routes, cyclist paths, and pedestrian walkways to link HDB towns more intricately with the Park Connector Network.
As a trade-off for connectivity, residents might have to put up with noise from Yio Chu Kang Road, especially during the first few years of their stay. That said, major developments in the upcoming years will serve as sound barriers to muffle the engines of vehicles on the road.
Family friendly facilities for the post-modern era
Electric vehicle charging ports
Lentor Hills Road is part of the growing number of new HDB towns that are required to allot space for electric vehicle charging stations. This is part of an initiative by URA and the Land Transport Authority (LTA) to deploy 60,000 EV charging points across the country by 2030, with the possibility of more chargers being installed should demand increase in the future.
Mandatory inclusion of childcare facilities
Tenderers of Lentor Hills Road Parcel A will also be required to ensure that an Early Childhood Development Centre for infant and childcare that accommodates up to 100 infants and children be integrated into the development, and remain operational for at least 10 years.
Easy access to parks and geriatric hospitals
Future residents can also expect to gain access to parks and hospitals nearby, ensuring that they can always stay in the pink of health. Both Lower Pierce Reservoir and Bishan-Ang Mo Kio Park are just 6 minutes away by car.
Formally known as the Kallang River Reservoir, Lower Pierce Reservoir is home to rubber trees and oil palms reserves along the Lower Peirce Trail. The trail is gentle on the knees and well shaded by large canopies, making it suitable for the elderly and children to explore local species such as the White-bellied Fish Eagle and Plantain Squirrel.
Bishan-Ang Mo Kio Park is also known for its characteristic sloping grassy banks. Complete with wheelchair-accessible play areas and well-maintained tracks, the park’s inclusive facilities makes it perfect for anyone to get some fresh air or work up a sweat.
Lentor Hills Road is also just a 10-minute walk away from Ang Mo Kio – Thye Hua Kwan hospital, which specialises in rehabilitative care for the elderly. Rehabilitative and restorative programs at the hospital help patients to be self-reliant post-recovery.
Established schools from primary to pre-university
Parents will be delighted to know that there is no shortage of established schools within the region. Located within a 1km radius of the residential area is Anderson Primary School. Primary 1 and 2 students here gain broad exposure to sports, performing arts and outdoor education as they explore their strengths, talents and interests under the Ministry of Education’s Programme for Active Learning.
Also within a 2km radius of the land plot are Presbytarian High, CHIJ St. Nicholas, Anderson Serangoon Junior College and Nanyang polytechnic.
Anderson Serangoon Junior College has specialised labs as part of their STEM programme, including the PlayPen Makerspace Lab and Elementz Lab, along with a committee of teachers to provide interdisciplinary education and even facilitate external lab or industry attachments.
Students opting for the polytechnic route can gain access to a bevy of courses at Nanyang Polytechnic (NYP). Apart from their specialisations in healthcare and IT, NYP also accommodates adult learners under a variety of programmes such as the SGUnited Skills Programme and SkillsFuture, so that full-time workers can find the perfect work-study configuration for their schedule.
Witness urban transformation at Woodlands Regional Centre
Investors will definitely want to take note of Woodlands Regional Centre, which promises to integrate more business, educational, and living spaces on the 100 hectares of land over the next 15 years.
Featuring indoor farming and research facility Agri-Food Innovation Park, a seven-storey food hub in Senoko Food Zone and a high-tech, 9-metre vertical farm at Lim Chu Kang, Woodlands Regional Centre will be the upcoming business hub for local agriculture, food science and restaurants.
There will also be plenty of space set aside for industrial and manufacturing companies at Woodlands North Coast and Woodlands Central. The development is part of URA’s plans to decentralise the Central Business District, by creating one closer to residents within the northern region of Singapore.
All of these developments will overlook Woodlands Waterfront, complete with scenic trails for residents and office workers alike to unwind with a stroll or cycle along heritage trails after a long day of work.
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