Hong Leong Holdings to preview the highly-anticipated Penrose condominium this weeekend – The new urban icon is attractively located at Sims Drive in the city fringes of Singapore
Previews for the highly-anticipated Penrose condominium will begin this weekend on 12 September by appointments only. Located in District 14 at Sims Drive, the 99-year lease condominium is deemed a new icon in the city fringes of Singapore.
Sitting on a site measuring 174,646.60 square feet (sq ft), Penrose condominium comprises five 18-storey towers encompassing 566 residential units nestled in a lush landscape filled with a variety of lifestyle activities to cater to both young and old. Some of its facilities include a childcare centre conveniently located within its compound, wellness gardens, a 50-metre swimming pool, a gourmet pavilion for gatherings of families and friends, a sky garden at the rooftop with unblocked panoramic views of the city skyline, and even a majestic treehouse pavilion for an idyllic escape – a rare amenity found in new projects these days.
Among the impressive attributes of Penrose condominium is the site’s excellent connectivity.
The neighbourhood is conveniently linked to other parts of Singapore by the Pan Island Expressway and the Kallang-Paya Lebar Expressway. The Central Business District and the famous Orchard Road Shopping Belt are also about 15 minutes’ drive from Penrose. Just a short walk to Aljunied MRT Station, Penrose is only one stop away from Paya Lebar MRT Interchange station which is on the East-West and Circle Lines.
Penrose is well-positioned to tap into new growth areas including the Kallang River precinct, which will see a rejuvenation of the waterfront with new walkways and cycling routes, as well as the recreational hub of Kampong Bugis for its culture, food and entertainment options.
Prominent schools such as Canossa Catholic Primary School and Geylang Methodist School are all within walking distance from the Penrose condominium. The proximity to educational institutions makes the location suitable for family living.
Other amenities such as restaurants and shopping malls are also within the vicinity allowing residents to enjoy the utmost convenience when accessing various necessities. They include a foodie’s paradise of hawker culture such as Sims Vista Market & Food Centre, Haig Road Market & Cooked Food Centre and Old Airport Road Food Centre, with more café and restaurant choices in the neighbouring Katong and Joo Chiat districts. Shopping malls such as Paya Lebar Quarter and Kallang Wave Mall are also nearby.
“Penrose will make a satisfying home for residents who want to enjoy city-fringe living with the best of both worlds. The centrality of its location with its well-planned units offer privacy and connectivity without the intrusive bustle of metropolitan life. The project is also well-priced and within the reach of most Singaporeans looking to invest or simply to buy a beautiful and functional home to stay,” said Ms Betsy Chng, Head of Sales and Marketing at Hong Leong Holdings Limited.
Buyers can choose from a range of 1- to 4-bedroom apartments with unit sizes starting from 474 sq ft for a 1-bedroom, 646 sq ft for a 2-bedroom, 936 sq ft for a 3-bedroom and 1,389 sq ft for a 4-bedroom.
Early bird prices start from S$788,000 for 1-bedder, S$943,000 for 2-bedder, S$1.33 million for 3-bedder, and S$2.11 million for 4-bedder.
Penrose is jointly developed by Hong Leong Holdings Limited and City Developments Limited. The project is expected to TOP in July 2024. It is designed by award-winning international design company P&T Group, one of the world’s oldest architecture firms.
The sales gallery is located along Geylang Road with vehicle access via Kallang Airport Drive. Previews begin on 12 September by appointments only.
The tender for Penrose site situated at Sims Drive closed in November 2018. The site 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. The two 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 among the impressive attributes of Penrose site is the excellent connectivity. The neighbourhood is connected to other parts 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 just one stop away from Aljunied Train Station running on the East-West Line.
Mr Paul Ho, chief mortgage officer at iCompareLoan, said: “The Penrose condominium is strategically located in a residential enclave that enjoys proximity to unlimited facilities and amenities. Although it sits close to the city, residents won’t need to cover long distances to satisfy their daily needs since amenities are near their homes. The area is also well connected with an expressway. Pan Island Expressway provides the residents with a quick travelling option to other parts of the island.”
He added, “the excellent location of the neighbourhood is one of the reasons entrepreneurs and various businesses are moving into the neighbourhood setting up fitness centers, restaurants and more in a bid to tap the increasing number of foreigners and Singaporeans in the area.”