Lentor Hills estate is an upcoming estate as part of the Ang Mo Kio planning area. The area is still relatively undeveloped. In land-scarce Singapore, the government is constantly looking for new avenues to convert spaces for new homes.
As part of The Urban Redevelopment Authority (URA) master plan in 2019, it was announced that the area will see more housing options to be introduced in the coming years.
To aid with the transformation of the area, URA has introduced several land parcels in the area. In an effort to tap on the expertise of future developers to inject a sense of vibrancy to the neighborhood.
Thus far, The Urban Redevelopment Authority (URA) has awarded two Government Land Sales (GLS) in the area.
In July 2021, URA awarded the tender for a Lentor Central site to a subsidiary of GuocoLand, which submitted a bid of $784.1 million, or $1,204 per square foot per plot ratio (psf ppr).
Developers were very active in their bidding exercise, with a total of 9 bidders eyeing for this site.
GuocoLand had highlighted in its press release that it has intended to develop its site as a mixed-use development of three 25-storey towers with around 600 residential units, including a double-volume sky terrace in each tower.
A quick search on the URA space webpage revealed that the future project on the site is expected to be called Lentor Modern. The integrated mixed-use project opened for previews on Friday, September 2 2022, with prices starting at $1,880 psf.
The second land parcel was awarded earlier this year in January. Lentor Hills (Parcel A) was awarded to a joint venture between Intrepid Investments, GuocoLand and TID Residential for a tender price of $586.6 million.
Although the site only garnered a total of 4 bidders for the project, this was due to cautious bidding from developers as this site was awarded fresh off new property cooling measures last year.
The future project on the site is expected to yield an estimated 595 units. With Guocoland’s participation, we can expect the developer to play a pivotal role in leading the charge in bringing vibrancy and dynamism to the area.
Upcoming land sites
There are still 3 land parcels in the Government Land Sales programme that are yet to be launched. Two of these sites are on the confirmed list. Confirmed List sites are those that will be launched at a predetermined date. Both Lentor Central and Lentor Hills Road (Parcel B) are expected to be launched for bidding in May.
Lentor Central site is another land parcel in the area as compared to the one that was awarded in 2021. It is expected to yield over 400 units. Lentor Hills Road (Parcel B) sits on a smaller land area. And it is expected to have an estimated 265 units.
Lentor Gardens is part of the reserve list under the GLS programme. Reserve list sites are those that will only be launched if there is a successful application from the developer upon release of detailed sales conditions by URA.
The combined land area of these 3 sites amounts to over 490,000 square feet and it is expected to yield over 1,200 units in the future. If we were to include the land parcels that have already been awarded, it adds up to an estimated total count of 2,470 units.
Not to mention that some of the sites will be mixed-use, which will bring about future amenities and retail options to the area as well.
Lack of new launches in the area
As there are no available statistics on the Lentor Hills estate, due to the area being undeveloped. We take a brief look at Ang Mo Kio to get a sense of what we can expect.
In the past few years, the number of new condominium sales in the Ang Mo Kio area has seen a decline due to a lack of new project launches in the estate.
It is timely that the government is introducing new land sites in the area. This will fill the void of new project launches in the area and likely stimulate interest as a result of pent-up demand in the area.
Preliminary figures indicate that average unit prices of the new condominiums in the area have been hovering around the range of $1,900 psf in the first quarter of 2022.
Taking into consideration the size of the future developments and the number of units to be offered, we can expect prices to hover around at an estimated price point of $1,800 to $2,200 psf. But do note that these prices are not set in stone and subject to the final approval and changes of developers.
Wide range of school options available
Although there are not many facilities and amenities available at Lentor Hills, there are viable options in the neighborhood.
For instance, the site of the future condominiums is ideally populated with a number of schools in the area. There are a number of schools and educational institutions within the 1km to 2km radius of the site.
Some schools that are closely located include Anderson Primary School, Ang Mo Kio Primary School, CHIJ St. Nicholas Girl’s School and Mayflower Primary School.
Newly built MRT station
Although the land parcels sit on undeveloped land, we can expect future road networks to be improved.
However, the existing land parcels in the Lentor Hills estate are closely situated to the Lentor MRT Station as part of the Thomson-East Coast Line (TEL).
The MRT station started operations in 2021. Future residents will greatly benefit from being in close proximity to a completed MRT station. Residents would be able to easily access Woodlands station, within 3 stops.
With the recent relaxation of border measures, residents who wish to travel to Johor Bahru, would find that there is an ease of convenience with a shorter traveling time.
Lentor Hills estate is full of untapped potential with benefits that are yet to be reaped. Future residents can look forward to plenty of housing options in a tranquil neighborhood.
As the land parcels are part of the mature estate of Ang Mo Kio, we expect a fair amount of interest for these projects that will be eventually launched in the area.
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