Penrose Reviews by Urban Agents
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One of the most exciting new launches in 2020 must be Penrose, located at Sims Drive. This hotly contested piece of land was eventually won by Hong Leong & CDL, at a Land cost of just $732ppr/psf. When the project beside it, Sims Urban Oasis was launched in year 2015, it received overwhelming response & the sales was fantastic, with psf at around $1,500. There is a good chance that Penrose will launch at this pricing too, if it does, its demand will be huge, given that the resales of Sims Urban Oasis has seen decent profit, & rental demand is exuberant too. Within a 5 minutes’ stroll to Aljunied MRT Station, this project is going to receive positive response from investors & home dwellers alike.
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Penrose is a joint venture between Hong Leong Holdings Limited (HLHL) and City Developments Ltd (CDL), two of the strongest and most reputable developers in Singapore. It is strategically located near Aljunied MRT station within a 5-min walk. It will house 565 residential units with a few 17- or 18-storey blocks.
The upcoming new Paya Lebar Sub-Regional Center is already creating an influx of businesses and economic activities. Being near a cluster of malls in Paya Lebar (Paya Lebar Square, SingPost Center, Paya Lebar Quarter, Kinex Mall, City Plaza) also attracts both own-stay buyers and investors for the outstanding tenant pool.
The bid price of SGD383.5 million (SGD732 psf ppr) was in fact subdued, as a result of newly announced larger minimum average unit size of 85sqm coupled with higher ABSD rate for developer after July 2018 cooling measures. Break-even price is estimated to be $1,264psf, and the selling price could reach $1,500-1,700psf. While other new launches in D14 is sold at $1700-1900psf, Penrose could have the most attractive price in the area. Its next door condo, Sims Urban Oasis is currently transacted at $1,500psf-$1,600psf in the resale market, which will support the launch price of Penrose very well.
One drawback is that there is no tier-1 primary school within 2km radius.
The upcoming new Paya Lebar Sub-Regional Center is already creating an influx of businesses and economic activities. Being near a cluster of malls in Paya Lebar (Paya Lebar Square, SingPost Center, Paya Lebar Quarter, Kinex Mall, City Plaza) also attracts both own-stay buyers and investors for the outstanding tenant pool.
The bid price of SGD383.5 million (SGD732 psf ppr) was in fact subdued, as a result of newly announced larger minimum average unit size of 85sqm coupled with higher ABSD rate for developer after July 2018 cooling measures. Break-even price is estimated to be $1,264psf, and the selling price could reach $1,500-1,700psf. While other new launches in D14 is sold at $1700-1900psf, Penrose could have the most attractive price in the area. Its next door condo, Sims Urban Oasis is currently transacted at $1,500psf-$1,600psf in the resale market, which will support the launch price of Penrose very well.
One drawback is that there is no tier-1 primary school within 2km radius.
Penrose is strategically located along Sims Drive at D14. For its prime location and reputable developers, namely CDL and Hong Leong to deliver quality fittings, it is expected to generate high interest.
Penrose is just approximately 5 minutes walk to Aljunied MRT (EW). Within 4 stops, the residents can easily connect to four other MRT lines. Travelling to CBD and Orchard shopping belt is only 15 minutes drive. For residents who work either in town or at the nearby Paya Lebar commercial hub (just one MRT stop away), travel time is largely reduced and more time can be spent to catch on rest especially if one works till late at night.
Residents will be spoilt for choice with numerous nearby amenities such as wet market, supermarkets, hawker fares, malls and cineplexes. For parents with school going children, within 1km are reputable schools such as Geylang Methodist Primary and Secondary School, Canossa Convent Primary School as well as Nexus International School.
Penrose is just approximately 5 minutes walk to Aljunied MRT (EW). Within 4 stops, the residents can easily connect to four other MRT lines. Travelling to CBD and Orchard shopping belt is only 15 minutes drive. For residents who work either in town or at the nearby Paya Lebar commercial hub (just one MRT stop away), travel time is largely reduced and more time can be spent to catch on rest especially if one works till late at night.
Residents will be spoilt for choice with numerous nearby amenities such as wet market, supermarkets, hawker fares, malls and cineplexes. For parents with school going children, within 1km are reputable schools such as Geylang Methodist Primary and Secondary School, Canossa Convent Primary School as well as Nexus International School.
Penrose is by renowned developers Hong Leong & CDL. They are well known for their high quality developments. It is strategically located near the URA Master plan transformation zones. This is a key growth & vibrant area.
Penrose is just 400m away from aljunied mrt station. 1 mrt stop at Paya Lebar MRT. Paya Lebar is a key interchange. A transportation hub surrounded by the 3.7 billion Paya Lebar Quarter (PLQ). There is a wide catchment of tenants working in PLQ that will choose to live nearby.
Penrose is within 1km of a prestigious primary school like Geylang Methodist Primary School / Secondary School & Canossa Catholic Primary School. It is also within 2km of Kong Hwa School & Cedar Primary School. Penrose will always be sought after by parents looking to enroll their children into proven schools with a long history and track record.
Penrose is only 10mins drive to the CBD, Orchard Road. It will be well sought after by owner occupants and tenants looking for an easy commute to the city. D14 is well known to have strong rental demand & high capital gain growth. It will definitely make a good long term investment.
Penrose is just 400m away from aljunied mrt station. 1 mrt stop at Paya Lebar MRT. Paya Lebar is a key interchange. A transportation hub surrounded by the 3.7 billion Paya Lebar Quarter (PLQ). There is a wide catchment of tenants working in PLQ that will choose to live nearby.
Penrose is within 1km of a prestigious primary school like Geylang Methodist Primary School / Secondary School & Canossa Catholic Primary School. It is also within 2km of Kong Hwa School & Cedar Primary School. Penrose will always be sought after by parents looking to enroll their children into proven schools with a long history and track record.
Penrose is only 10mins drive to the CBD, Orchard Road. It will be well sought after by owner occupants and tenants looking for an easy commute to the city. D14 is well known to have strong rental demand & high capital gain growth. It will definitely make a good long term investment.
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