The tender for Penrose site situated at Sims Drive has closed. The site 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 produce the residential condominium with a 60:40 ownership ratio. A bid from GuocoLand came second at $655 psf ppr falling 12% below the utmost effective bid. Penrose site covers 174,648 sq ft and anticipated to house about 565 residential units. The building will comprise of 17 or 18-storey buildings. Hong Leong Group spokesman commenting on the site noted that on the list of impressive attributes of Penrose site is the superb connectivity. The neighbourhood is attached to other areas 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 from Aljunied Train Station running on the East-West Line. Amenities are also reachable from Penrose with prominent schools located within walking distance. Some of the schools around include Canossa Catholic Primary School and Geylang Methodist School. Such proximity to educational institutions makes the location suited to family living. Other amenities such as for example restaurants and shopping malls are also within the vicinity allowing residents to take pleasure from the utmost convenience when accessing various necessities.
Penrose is located on the outskirts of Sims Path in the powerful hunt for Section 14 on Geylang and the Marine Parades. A 4-minute go from Aljunied MRT, while Paya Lebar is really a 5-minute get from the Biz Hub. It’s easily accessible via the Key Company District(CBD) to teaches just four prevents from Raffles Place MRT end or perhaps a 12-minute drive. There are numerous busses external Penrose that bring individuals to different parts of Singapore for buses. That newest condominium launch is also effectively linked with two large KPE and PIE streets that are in near area to the rest of Singapore.
Penrose is also just a 15-minute push from Singapore’s best-known East Coast Park and acts local shores and meals on the Lagoon’s western coast.
The upstream commercial / combined creating for a vacancy estate near Aljaunied MRT in 2019 is another URA Masterplan, that’ll certainly offer incentives and ease to the citizens of Penrose.
The Penrose position graph may be used to find more features for possible Penrose users.