The Urban Redevelopment Authority (URA) has awarded the tender for the site at Lentor Central to GLL D Pte. Ltd. The company submitted the highest bid in the tender for the site.
The site at Lentor Central was launched for tender on 15 April 2021. The tender for the site closed on 22 July 2021. The land parcel was offered for sale on 99-year lease term.
The tender for the Lentor Central government land sale (GLS) site closed with nine bids today. The highest bid of $784.1 million, which translates to a land rate of $1,204 psf per plot ratio (psf ppr), was submitted by GuocoLand.
“If we are awarded the site, we are envisioning a new mixed-use, transit-oriented development of 25 storeys with around 600 residences that will enjoy the convenience of having a substantial amount of commercial, F&B and retail spaces, including a supermarket and more than 10,000 sq ft of child care facilities,” says GuocoLand in a statement.
The price was 4.5% higher than the second highest bid of $1,152 psf ppr by Hong Leong Group and TID Pte Ltd, a joint venture between Hong Leong and Japanese developer Mitsui Fudosan.
The top bid of $1,204 psf ppr is also 7.7% higher than the winning bid of $1,118 psf ppr for the Ang Mo Kio Avenue GLS tender which closed in May 2021.
The Urban Redevelopment Authority (URA) closed the tender for the site at Lentor Central today.
The public tender for the site at Lentor Central was launched on 15 April 2021.
Please see Annex A [PDF, 17.8kb] for details of the site and tender bids received.
This is not an announcement of tender award. A decision on the award of the tender will be made after the bids have been evaluated. This will be publicised at a later date.
Lentor Central is a plot of land released under the GLS (Government Land Sales) Programme, slated for the development of a Residential project with commercial at the first storey.
Sales Launch Date: 15 April 2021, Thursday
Tender Submission Date: 22 July 2021, Thursday
Site Area : 17,279.9 m²
Gross Floor Area : 60,480 m²
The land parcel is located within the new Lentor Hills Estate which is envisioned as a sustainable, pedestrian-friendly neighbourhood amidst lush greenery.
Located next to the upcoming Lentor MRT Station on the Thomson-East Coast Line, future residents will enjoy direct access via public transport to Woodlands Regional Centre, the Central Business District and various parts of Singapore.
Proximity to schools, future amenities and park spaces
Established schools such as Presbyterian High School, Anderson Primary School, and CHIJ St Nicholas Girls’ School are located nearby.
Future residents can look forward to retail options located within the upcoming mixed-use development and enjoy recreation choices at the future hillock and linear parks.
|Site Area||17,279.9 m2|
|Lease Period||99 years|
|Allowable Development||Residential with Commercial at 1st Storey|
|Permissible Gross Floor Area||60,480 m2|
|Maximum Building Height||Low-rise zone|
|Project Completion Period||60 months|
22 July GuocoLand tops bid for Lentor Central site with $1,204 psf ppr; sets new record for OCR land prices
15 Apr 2021 Developers expected to vie keenly for Lentor, Tampines housing sites launched for sale