Huttons’ comments on the 2 GLS sites at Lentor Central and Lentor Gardens

12 April 2023

The Lentor Central site is the sixth site in the Lentor precinct launched under the Confirmed List. If all six sites are sold, the Lentor precinct may see an estimated 2,943 units completed over the next four to five years.

While the area is shaping up as a private residential enclave, developers may be cautious in bidding. The number of bids for sites in the Lentor precinct have been trending downwards. This is because of the pipeline supply of almost 3,000 units and the harmonization of GFA rules. The harmonization of GFA rules is likely to reduce the saleable area by at least 5% and may have an impact on land price and selling price.

Project Land Bid Number of Bidders Sold
Lentor Modern $1,204 psf ppr 9 Jul 2021
Lentor Hills Residences $1,060 psf ppr 4 Jan 2022
Lentor Central $1,108 psf ppr 3 Sep 2022
Lentor Hills Road (Parcel B) $1,130 psf ppr 2 Sep 2022
Lentor Gardens $985 psf ppr 1 Tender Closed

Source: URA, Huttons Research
Lukewarm response may be observed for Lentor Central site. The number of bidders may be between 1 and 3 while the top bid may be between $950 and $1,050 psf ppr.

The Lentor Gardens site under the Reserve List is unlikely to be triggered for sale.