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. Both companies agreed to develop the residential condominium with a 60:40 ownership ratio. A bid from GuocoLand came second at $655 psf ppr falling 12% below the most truly effective 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 internet site noted that on the list of impressive attributes of Penrose site is the superb connectivity. The neighbourhood is connected 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 are also about 15 mins drive from Penrose. Paya Lebar Central and Paya Lebar MRT Interchange station is simply one stop far from Aljunied Train Station running on the East-West Line. Amenities are also 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 place ideal for family living. Other amenities such as for example restaurants and shopping malls are also within the vicinity allowing residents to savor the utmost convenience when accessing various necessities.
Penrose is on the outskirts of Sims Path in the solid look for District 14 on Geylang and the Marine Parades. A 4-minute walk from Aljunied MRT, while Paya Lebar is just a 5-minute travel from the Industry Hub. It’s easy to get at via the Key Company District(CBD) to trains only four prevents from Raffles Position MRT end or perhaps a 12-minute drive. There are many busses outside Penrose that carry individuals to different parts of Singapore for buses. That latest residence start can also be properly related to two big KPE and PIE roads which are in near area to the remainder of Singapore.
Penrose is also only a 15-minute get from Singapore’s best-known East Shore Park and provides regional beaches and dishes on the Lagoon’s eastern coast.
The upstream commercial / mixed developing for a vacancy property near Aljaunied MRT in 2019 is another URA Masterplan, that may certainly give incentives and comfort to the people of Penrose.
The Penrose place graph can be used to discover further facilities for potential Penrose users.