The tender for Penrose site situated at Sims Drive has closed. The 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 top 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 one of the 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 merely one stop far 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 few of the schools around include Canossa Catholic Primary School and Geylang Methodist School. Such proximity to educational institutions makes the location suitable for family living. Other amenities such as for instance restaurants and shopping malls may also be within the vicinity allowing residents to take pleasure from the utmost convenience when accessing various necessities.
Penrose is located on the outskirts of Sims Street in the strong search for District 14 on Geylang and the Underwater Parades. A 4-minute walk from Aljunied MRT, while Paya Lebar is just a 5-minute push from the Biz Hub. It’s readily available via the Main Organization District(CBD) to teaches just four prevents from Raffles Position MRT end or a 12-minute drive. There are numerous busses outside Penrose that bring people to various parts of Singapore for buses. That newest property launch is also effectively linked with two big KPE and PIE streets that are in near proximity to the others of Singapore.
Penrose can be merely a 15-minute drive from Singapore’s best-known East Shore Park and serves local shores and meals on the Lagoon’s eastern coast.
The upstream professional / blended developing for a vacancy property near Aljaunied MRT in 2019 is the next URA Masterplan, that may undoubtedly give incentives and ease to the citizens of Penrose.
The Penrose place information may be used to locate more features for potential Penrose users.