Huttons’ comments on GLS tenders at Lentor Central and Champions Way

13 September 2023

Huttons’ comments on GLS tenders at Lentor Central and Champions Way

The Lentor Central site attracted a top bid of $982 psf ppr from 2 bidders which is in line with recent land bids in Lentor. There will be close to 3,000 units in the upcoming Lentor private residential enclave over the next four to five years.

Developers appeared to be restrained in their bids due to the uncertain economic conditions, continued high costs, and harmonisation of GFA rules.

It has been more than ten years since a GLS site for residential use was sold in Woodlands. The last project launch was Parc Rosewood in 2012.

It is the first time since Mar 2022 that the number of bidders have exceeded 5. The potential pent-up demand may have led to healthy interest among and a strong bid from developers. The level of interest shows developers’ confidence in the developing Woodlands Regional Centre.

There is a healthy pool of HDB owners in Woodlands who may have built up enough equity over the past 10 years to upgrade to private homes. In terms of location, the site is less than a 5-minute walk to Woodlands South MRT station and a short 5-minute drive to BKE. Parents with young children can have their choice of not just 1 but 5 primary schools within 1km. Innova Primary School is at the doorstep and Singapore Sports School is across the road. Republic Polytechnic and Singapore Institute of Technology are in close proximity. In terms of amenities, Woodlands Regional Centre and Causeway Point are just 1 MRT station away.