New Reporter
13-04-23, 12:20
Residential plots at Lentor Central, Lentor Gardens for sale under H1 GLS programme
Apr 12, 2023
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RESIDENTIAL sites at Lentor Central and Lentor Gardens have been released for sale by the Urban Redevelopment Authority on Wednesday (Apr 12) under the H1 2023 Government Land Sales (GLS) Programme.
The site at Lentor Central was launched under the confirmed list and is expected to yield about 475 homes.
It has an area of 14,703.2 square metres (158,000 sq ft) and a maximum gross floor area (GFA) of 41,169 sq m.
Lee Sze Teck, senior director, research at Huttons Asia, noted that the Lentor Central site is the sixth site in the Lentor precinct launched under the confirmed list. If all six sites are sold, the area could see an estimated 2,943 units completed over the next four to five years.
However, industry watchers do not think the site will attract many bidders, given the downtrend in the number of bids for sites in the area.
The site at Lentor Gardens launched for sale earlier this year received only one bid, made jointly by GuocoLand and Hong Leong Holdings’ Intrepid Investments. They placed a bid of S$486.8 million, or nearly S$985 per square foot per plot ratio (psf ppr).
Independent property analyst Nicholas Mak thinks the low level of interest among developers for residential sites in that location is partly due to the potential glut of condo projects there.
“Hence, the number of bids for the confirmed list site at Lentor could attract up to three bids at best,” Mak added.
Huttons’ Lee concurred with Mak and expects the top bid to be between S$950 and S$1,050 psf ppr.
The tender for the Lentor Central site will close at noon on Sep 12, 2023.
Meanwhile, the residential site at Lentor Gardens is available for application under the reserve list.
With a site area of 20,640.8 sq m and a maximum GFA of 43,346 sq m, the plot is expected to yield 500 units.
Sites on the reserve list are put up for sale only if a developer’s indicated minimum price in his application is acceptable to the government.
Analysts do not expect the Lentor Gardens site to be triggered for sale.
https://www.businesstimes.com.sg/property/residential-plots-lentor-central-lentor-gardens-sale-under-h1-gls-programme
Apr 12, 2023
https://i.imgur.com/kStnarM.png
https://i.imgur.com/smQtBGg.png
RESIDENTIAL sites at Lentor Central and Lentor Gardens have been released for sale by the Urban Redevelopment Authority on Wednesday (Apr 12) under the H1 2023 Government Land Sales (GLS) Programme.
The site at Lentor Central was launched under the confirmed list and is expected to yield about 475 homes.
It has an area of 14,703.2 square metres (158,000 sq ft) and a maximum gross floor area (GFA) of 41,169 sq m.
Lee Sze Teck, senior director, research at Huttons Asia, noted that the Lentor Central site is the sixth site in the Lentor precinct launched under the confirmed list. If all six sites are sold, the area could see an estimated 2,943 units completed over the next four to five years.
However, industry watchers do not think the site will attract many bidders, given the downtrend in the number of bids for sites in the area.
The site at Lentor Gardens launched for sale earlier this year received only one bid, made jointly by GuocoLand and Hong Leong Holdings’ Intrepid Investments. They placed a bid of S$486.8 million, or nearly S$985 per square foot per plot ratio (psf ppr).
Independent property analyst Nicholas Mak thinks the low level of interest among developers for residential sites in that location is partly due to the potential glut of condo projects there.
“Hence, the number of bids for the confirmed list site at Lentor could attract up to three bids at best,” Mak added.
Huttons’ Lee concurred with Mak and expects the top bid to be between S$950 and S$1,050 psf ppr.
The tender for the Lentor Central site will close at noon on Sep 12, 2023.
Meanwhile, the residential site at Lentor Gardens is available for application under the reserve list.
With a site area of 20,640.8 sq m and a maximum GFA of 43,346 sq m, the plot is expected to yield 500 units.
Sites on the reserve list are put up for sale only if a developer’s indicated minimum price in his application is acceptable to the government.
Analysts do not expect the Lentor Gardens site to be triggered for sale.
https://www.businesstimes.com.sg/property/residential-plots-lentor-central-lentor-gardens-sale-under-h1-gls-programme