GUOCOLAND will start previews for its latest Lentor Hills project, Lentor Mansion, on Friday (Mar 1), with prices starting from S$2,082 per square foot.

The 99-year leasehold development will be GuocoLand’s third condominium launch in the Lentor Hills estate, after Lentor Modern and Lentor Hills Residences; it is the fifth launch in Lentor area, out of six state land sites sold so far.

Located in District 26, Lentor Mansion sits on 235,371.2 square feet of land, and will house 533 units in three 16-storey towers and three eight-storey blocks. Two-bedroom units of 527 to 657 sq ft start from S$1.149 million, or S$2,180 psf. Three-bedroom units of 786 to 1,023 sq ft start from S$1.702 million, or S$2,165 psf. Four-bedroom units are 1,227 sq ft in size, and start from S$2.635 million, or S$2,148 psf. Five-bedders, sized from 1,485 to 1,507 sq ft, start from S$3.176 million, or S$2,139 psf.

GuocoLand had purchased the site with Hong Leong Holdings in April 2023 for S$486.8 million, at S$985 per square foot per plot ratio. The joint venture was the sole bidder at the tender.  

The launch of Lentor Mansion comes on the heels of Lentoria’s launch earlier this month. Developed by TID, a joint venture between Hong Leong Group and Mitsui Fudosan, the 267-unit development is priced from S$1,965 psf.

GuocoLand’s first project in the estate, the 605-unit Lentor Modern, has sold 98 per cent of its units to date. Launched in September 2022, prices ranged from S$1,856 psf to S$2,538 psf.

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Its second project, Lentor Hills Residences, was marketed in July 2023 and has sold close to 77 per cent of its 598 units so far, at an average price of S$2,105 psf.

Within the vicinity, Hillock Green at Lentor Central has sold 132 out of 474 units to date, at an average price of S$2,114 psf. It is jointly developed by Forsea Holdings, United Engineers and Soilbuild Group.

“GuocoLand has positioned the Lentor Hills estate as a premium private residential estate beginning with our Lentor Modern mixed development,” said Cheng Hsing Yao, group chief executive officer of GuocoLand.

“Every project we do in the Lentor Hills estate has a unique concept. For Lentor Mansion, we drew our inspiration from the iconic black-and-white bungalows. These bungalows are often found in hilly and forested areas, very similar to the setting of Lentor Mansion,” he added.

Lentor Mansion is the first private condo to be launched under new guidelines on the harmonisation of strata and gross floor areas, where units are sold based on liveable space.

Eugene Lim, key executive officer of ERA Singapore, said that under the new guidelines, developers can sell only usable spaces, unlike under the previous rules, where air-con ledges are included as saleable space and built into selling prices.

Sales booking for Lentor Mansion will start on Mar 15; the project is targeted to be completed by end-2027.