Three residential sites located at Lentor Hills Road (Parcels A and B) and Jalan Tembusu have been released for sale under the second half 2021 Government Land Sales (GLS) programme, revealed the Urban Redevelopment Authority (URA) on Thursday (30 September).
“The residential sites at Lentor Hills Road (Parcel A) and Jalan Tembusu are launched for sale under the Confirmed List while Lentor Hills Road (Parcel B) is available for application under the Reserve List,” said URA. All three sites come with a 99-year leasehold tenure and are zoned for residential use.
With an area of 17,136.9 sq m, the site at Lentor Hills Road (Parcel A) has a maximum gross floor area (GFA) of 51,411 sq m and is expected to yield about 595 housing units. The 10,821.9 sq m site at Lentor Hills Road (Parcel B) has a maximum GFA of 22,726 sq m and is expected to yield about 265 housing units.
The Jalan Tembusu site, on the other hand, has an area of 19,567.4 sq m and a maximum GFA of 54,789 sq m. It is expected to yield about 640 homes.
Together, the three sites can yield around 1,500 residential units.
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The tender for the land parcels at Lentor Hills Road (Parcel A) and Jalan Tembusu closes on 18 January 2022.
Huttons Asia noted that the Jalan Tembusu site sits on a popular area for many buyers, which “is not far from Tanjong Katong MRT station”.
“We estimate the successful tender price to be between $1,400 and $1,500 per sq ft per plot ratio (psf ppr). As the absolute quantum is sizeable, the number of bidders may be capped at 10,” it said.
For the Lentor Hills site, Huttons expects the successful bid to range between $1,150 and $1,250 psf ppr and for the site to receive not more than 10 bidders.
Located right across the Lentor MRT station, the Lentor Hills site “is the second site to be launched in the area after Lentor Central”.
Eugenia Liew, Senior Digital Content Specialist at PropertyGuru, edited this story. To contact her about this or other stories, email firstname.lastname@example.org.