Lentoria (D26, 99 years leasehold, TID & Hong Leong)

[sgnewcondo]

Lentoria (https://singaporenewproperty.net/lentoria/), developed by Hong Leong, presents a fresh residential condominium project nestled in the heart of District 26 along Lentor Hills Road. Lentoria boasts a rich array of amenities in its vicinity. The development is conveniently located within a short walking distance of the newly established Lentor MRT station, which serves as a key stop on the extensive Thomson East Coast Line. This line, characterized by its L-shaped route, connects the northern, southern, and eastern parts of Singapore, ensuring comprehensive accessibility for residents.

Register now to view Lentoria Showflat (https://singaporenewproperty.net/lentoria/).

[botanycondo]

Lentoria (https://www.lentoriacondos.com/), developed by Hong Leong, presents a fresh residential condominium project nestled in the heart of District 26 along Lentor Hills Road. Lentoria boasts a rich array of amenities in its vicinity. The development is conveniently located within a short walking distance of the newly established Lentor MRT station, which serves as a key stop on the extensive Thomson East Coast Line. This line, characterized by its L-shaped route, connects the northern, southern, and eastern parts of Singapore, ensuring comprehensive accessibility for residents.

Register now to view Lentoria Showflat (https://www.lentoriacondos.com/view-showflat/).

When is the showflat going to be open for visits?

[New Reporter]

Fourth project in Lentor, TID’s Lentoria, debuts at prices from $1,965 psf

February 9, 2024

Lentoria is set to redefine Lentor as Singapore’s premier private residential enclave. Developed by TID, a joint venture between Hong Leong Holdings and Mitsui Fudosan, this 267-unit condo will open for preview on Feb 17.

The upcoming project will stand out as a distinctive development in the Lentor area.

“It is going to be the first condo you see when you drive into Lentor Hills estate from Yio Chu Kang Road,” says Yoichi Kaga, managing director of TID.

The firm was awarded the site at Lentor Hills Road Parcel B in September 2022 when it submitted the highest bid of $276.36 million for the 116,412 sq ft government land sale (GLS) site. This translates to $1,130 psf per plot ratio (psf ppr).

TID’s bid was 18.9% higher than the runner-up, a consortium comprising China Communications Construction Co, Solibuild Group and United Engineers (a unit of Yanlord Land), which submitted a $232 million ($950 psf ppr) bid.

The consortium won the GLS site at Lentor Central instead, with a bid of $480.1 million ($1,108 psf ppr). The tender for the Lentor Central site closed at the same time as Lentor Hills Road Parcel B in September 2022.

The new condo development on the site, the 474-unit Hillock Green, was launched in November. To date, 126 units have been sold at an average price of $2,114 psf, based on caveats lodged as of Feb 2.

Lentoria will be the fourth new project launched in the Lentoria Hills estate since the launch of the first project there, the 605-unit Lentor Modern, in September 2022. Lentoria may also be the smallest residential development launched in the up-and-coming residential enclave in terms of number of units.

However, TID’s Kaga is unfazed by the competition. “With our entry, Lentor will have four projects for prospective buyers to consider,” he says. “We are confident that considering our project’s quality and size, we will manage a relatively good sales pace.”

In its solo projects, TID’s preference is for smaller-scale developments. In April 2021, TID launched the 165-unit One-North Eden and sold 85% of the units at the opening weekend. The project was fully sold within a year at an average price of $1,965 psf.

Like one-north, Lentor is surrounded by greenery. The opening of the Lentor MRT Station on the Thomson-East Coast Line has significantly improved public transport connectivity, attracting a robust pool of potential buyers, adds Kaga.

Based on the three projects launched in Lentor to date — Lentor Modern, the 598-unit Lentor Hills Residences and Hillock Green — nearly 70% of the units have already been sold, says Wong Siew Ying, head of research and content at PropNex Realty. “The upcoming Lentoria project will offer more choices to prospective buyers, especially those keen on smaller sized units, such as the one- and two-bedroom units.”

According to Huttons Asia, the profile of homebuyers is not just those living in the Lentor and Ang Mo Kio area; they are far more diverse.

Lee Sze Teck, senior director of data analytics at Huttons Asia attributes this to the opening of Lentor MRT Station, which has enhanced Lentor’s accessibility and attractiveness. As a new private residential estate, Lentor Hills has also attracted younger buyers, “further enlarging the pool of homebuyers”.

Top considerations among buyers

Lentoria has two 17-storey residential towers and an eight-storey residential block. The unit mix comprises one- to four-bedroom units of 538 sq ft to 1,345 sq ft. Two-bedroom and two-bedroom-plus-study units with sizes from 699 to 732 sq ft make up 45% of the total at Lentoria. One-bedroom units of 538 sq ft comprise 23 units (9%) and are only available in the eight-storey block.

Huttons’ Lee reckons the one-bedroom units at Lentoria will be well-received by investors, while the two-bedroom units will likely be popular with young couples. “The nuclear family has been getting smaller over the years,” he says.

On the other hand, Lee adds that the three- and four-bedroom units at Lentoria will appeal to HDB upgraders and landed homeowners looking to rightsize.

“Our unit mix reflects the changing demographics, especially among younger families, which are now typically a couple and one child,” says TID’s Kaga. “We feel that offering a decent-sized two-bedroom meets the criteria for most homebuyers looking to move to Lentor Hills.”

Affordability is a key factor for homebuyers, he adds. “We considered the affordability range of typical buyers we expect to see for Lentoria, generally new families with young children. So, we crafted our unit sizes for them to meet their expected housing budget and space requirements.”

TID says one-bedroom units at Lentoria will be priced from $1.19 million ($2,190 psf), two-bedroom units from $1.44 million ($1,965 psf), and three-bedroom units from $1.85 million ($1,974 psf).

Given Lentoria’s location at the corner of Lentor Gardens and Yio Chu Kang Road, units will have unobstructed views, says Huttons’ Lee. The most premium views are those from the high-floor units towards Thomson Nature Park and Upper and Lower Peirce Reservoir Park. He adds that other units will enjoy views of the surrounding landed housing estates, such as Teachers’ Estate and Thomson Hills. Units looking inward will have views of the facilities, such as the landscaped gardens and the swimming pool.

According to Lee, Lentoria is also within 1km of CHIJ St Nicholas Girls School.

Kaga says the developer opted not to employ prefabricated prefinished volumetric construction (PPVC) methods for the construction of the residential units. “This enabled us to have a ceiling height of 2.9m — slightly higher than most projects,” he says.

In addition, top floor units across the three blocks will have a 5.5m ceiling height for the living and dining rooms, master bedroom, and junior master bedroom. This double-volume ceiling emphasises the unblocked views these owners will enjoy, with a view towards the CBD, Singapore Island Country Club, Pierce Reservoir and Upper Seletar Reservoir Park.

Weaving in nature

DP Architects and landscape architect DP Green were inspired by the greenery from the forested area and have incorporated it into their design — from the architecture to the landscaping at Lentoria.

Amenities at Lentoria include a kid’s wading pool, pool lounge, hydrotherapy spa, cabana, sun deck, fitness areas, jogging and walking track, gym, yoga studio and two function rooms in the clubhouse.

The two 17-storey residential towers will be connected by a sky terrace on the 14th floor. Amenities at the sky terrace include a dining pavilion, a sky jacuzzi, a garden library and an outdoor fitness area.

“We feel that the number of condo amenities we have provided in this project is more than adequate for a project of this size and resident population,” says Kaga.

Lentoria will have a side gate and sheltered pedestrian path from Yio Chu Kang Road to Lentor MRT Station, a five-minute walk away.

With six GLS sites sold so far and one on the Reserve List, there are four more plots yet to be released by the government.

However, TID will be selective in pursuing future sites in Lentor. “We are all part of the same group of companies,” says Kaga, referring to Hong Leong Holdings and GuocoLand, which is part of Hong Leong Group. Both entities and their joint venture partners have secured five of the six sites sold to date, including Lentoria.

As Lentor gains prominence as a private residential estate, TID intends to raise the quality of its residential offerings. Kaga continues: “Singapore homebuyers and investors generally have strong purchasing power, healthy household income and a desire to invest in property. Despite the many launches this year, we expect the new launch market to remain healthy.”

More at: https://www.edgeprop.sg/property-news/fourth-project-lentor-tid%E2%80%99s-lentoria-debuts-prices-1965-psf

[New Reporter]

TID sells 50 units or 19% of Lentoria project at launch, at S$2,120 psf average

Lentoria is the fourth new launch in the upcoming Lentor Hills estate in 18 months

Mar 04, 2024

DEVELOPER TID’s Lentoria project moved 50 units with prices starting from S$1,958 per square foot (psf) during its launch weekend on Mar 2 and 3.

This works out to roughly 18.7 per cent of the 99-year leasehold development’s 267 units.

Of the 50 units sold, over 70 per cent were for two and three-bedroom units, sized from 700 square feet (sq ft) to 1,1119 sq ft, said TID. “Prospective buyers were particularly drawn to the fact that Lentoria will be looking to serve its notice of vacant possession by July 2027.”

Overall, units were priced at an average of S$2,120 psf.

Located in District 26, Lentoria is the fourth new launch in the Lentor area, out of six state land sites sold so far. The 10,819-square-metre site was purchased by TID, a joint venture between Hong Leong Group and Mitsui Fudosan, for S$276.36 million (S$1,130 psf per plot ratio) in September 2022.

The take-up rate of 18.7 per cent is the lowest during the launch weekend of all the Lentor Hills estate projects thus far, noted Nicholas Mak, Mogul.sg chief research officer.

The first launch, GuocoLand’s integrated mixed-use development Lentor Modern, saw the sale of 508 units – or 84 per cent – of its 605 units in September 2022. Prices ranged between S$1,856 and S$2,538 psf then.

This was followed by the launch of Lentor Hills Residences, which moved half its 598 units over the launch weekend in July 2023 at an average of S$2,080 psf.

Hillock Green – developed by Yanlord Land Group, China Communications Construction Company and Soilbuild Group Holdings – was the third launch in the area. It sold 132 units, or 27.8 per cent, of its 474 units during its launch weekend in November 2023, with prices averaging at S$2,108 psf.

Lentoria’s launch came as GuocoLand started previews for its latest Lentor Hills project, Lentor Mansion, on Friday. Lentor Mansion will be GuocoLand’s third condominium launch in the area, after Lentor Modern and Lentor Hills Residences. It also marks the fifth condominium launch in the area.

Condo sales in the Lentor area may therefore be reaching a saturation point, said Mak.

Still, such slow sales are not completely unexpected since the majority of homebuyers in the Lentor area are buying a unit for their own stay, said ERA chief executive officer Marcus Chu. “Some of them prefer to compare among the different offerings before committing to a purchase.”

Homebuyers who prefer smaller and “more exclusive projects” tend to gravitate towards projects such as Lentoria, added Chu.

And unlike the other developments in the Lentor area, Lentoria is not restricted by the typical pre-fabricated pre-finished volumetric construction method, where large modules complete with finishes are manufactured in factories and assembled on-site. “(This) means homeowners have the flexibility of removing some internal walls to reconfigure the layout according to their preference,” said Chu.

https://www.businesstimes.com.sg/property/tid-sells-50-units-or-19-of-lentoria-project-at-launch-at-s-2-120-psf-average