The tender for Penrose site situated at Sims Drive has closed. Your website attracted 5 bids with the bid from two partners City Developments (CDL) and Intrepid Investments of Hong Leong Group Singapore topping at S$383.5 million which reflects S$732 psf ppr. The 2 companies agreed to produce the residential condominium with a 60:40 ownership ratio. A bid from GuocoLand came second at $655 psf ppr falling 12% below the very best bid. Penrose site covers 174,648 sq ft and anticipated to accommodate about 565 residential units. The building will comprise of 17 or 18-storey buildings. Hong Leong Group spokesman commenting on the site noted that among the impressive attributes of Penrose site is the superb connectivity. The neighbourhood is linked to the rest of Singapore by the Pan Island Expressway and the Kallang-Paya Lebar Expressway. The CBD and the famous Orchard Road Shopping Belt will also be about 15 mins drive from Penrose. Paya Lebar Central and Paya Lebar MRT Interchange station is merely one stop away from Aljunied Train Station running on the East-West Line. Amenities will also be reachable from Penrose with prominent schools located within walking distance. A number of the schools around include Canossa Catholic Primary School and Geylang Methodist School. Such proximity to educational institutions makes the positioning ideal for family living. Other amenities such as for example restaurants and shopping malls are also within the vicinity allowing residents to take pleasure from the most convenience when accessing various necessities.
Penrose is located on the outskirts of Sims Street in the solid search for Region 14 on Geylang and the Maritime Parades. A 4-minute walk from Aljunied MRT, while Paya Lebar is a 5-minute push from the Biz Hub. It’s readily available via the Key Organization District(CBD) to trains only four prevents from Raffles Position MRT stop or even a 12-minute drive. There are lots of busses external Penrose that bring visitors to different areas of Singapore for buses. This newest residence start can be properly connected with two large KPE and PIE highways which can be in near area to the rest of Singapore.
Penrose can be only a 15-minute get from Singapore’s best-known East Shore Park and serves regional beaches and meals on the Lagoon’s eastern coast.
The upstream commercial / mixed creating for a vacancy estate near Aljaunied MRT in 2019 is the next URA Masterplan, which will certainly give incentives and ease to the citizens of Penrose.
The Penrose position information may be used to discover more facilities for possible Penrose users.