Lentor Central site to get ‘lukewarm response’

Developers may be cautious in bidding due to pipeline supply.

The Lentor Central site was launched in the Lentor precinct but there may be a lukewarm response coming from bidders, said Huttons.

Bids will likely be between one and three whilst the amount of bid may be between $950 and $1,050 psf ppr.

It is the sixth site launched in the precinct and if all six sites are sold, there will be an estimated 2,943 units may be completed in the Lentor precinct over the next four to five years.

“Whilst the area is shaping up to be a private residential enclave, developers may be cautious in bidding due to the pipeline supply of almost 3,000 units and the harmonization of GFA rules,” said Huttons.

The Lentor Gardens site, which is under the Reserve List, is unlikely to be triggered for sale, Huttons also said.

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