Including these land sales, the total new upcoming developments in this area will be 4. If the Reserve List site is triggered and sold, there will be 5 new developments. Up to another 5 more sites in the area could potentially be sold in the future as part of the development of the upcoming Lentor Hills Estate, given that the URA Master Plan has zoned the parcels with the permitted land usage and Gross Plot Ratio figures.
The future developments here will be near the upcoming Hillock Park, and close to the linear park with pedestrian and cycling connectivity around the estate. Homeowners will enjoy the greenery at their doorstep, along with easy access to recreational spaces. Residents in the area will be served by Lentor MRT station on the Thomson-East Coast Line (TEL), which will also be near shopping and retail amenities. Families may also be attracted to this location, with schools such as Anderson Primary School, CHIJ St Nicholas Girls’ School and Mayflower Primary School nearby.
Situated within a landed property enclave, buyers will be able to enjoy unblocked views for units facing the greenery or the landed houses. HDB upgraders may find the future developments at these plots enticing as well, as there are few private condos in the vicinity. The last time a new condo was launched in the area was The Calrose in 2005. The lack of upgrading opportunities in the area may result in strong demand for the condos when they launch.
With a site area of 13,444.3 sqm, the Lentor Central site can potentially yield 470 units, while the Lentor Hills Road (Parcel B) plot can yield around 265 units with a site area of 10,819 sqm, which will allow developers to choose between these 2 plots based on their budget and risk appetite. Previous GLS sites were sold at S$1,060 psf ppr and S$1,204 psf ppr. We expect bids to be healthy although developers will likely be mindful that supply in this area could increase with more land parcels slated for release in the future. Thus, we expect the selling price to be between S$1,000 and S$1,100 psf ppr for each site, and between 7 to 10 bidders for each plot. This
translates to a final bid price of S$434.1 million to S$477.6 million for
Lentor Central, and S$244.6 million to S$269 million for Lentor Hills Road
(Parcel B).
The future selling price of the developments here could range from between S$1,950 and S$2,050 psf. Depending on the reception and bidding for the 2 confirmed sites, the Lentor Gardens site on the Reserve List may be moved to the Confirmed List if it has not been triggered.