Penrose Residences is a condominium development by Hong Leong Holdings Limited and City Developments Limited. Located at Sims Drive, this luxury condominium houses 566 units and is situated in the middle of two URA 2019 Masterplan Transformation areas - Kampong Bugis and Paya Lebar. Residents can enjoy the convenience of being just a 6 minutes walk from Aljunied MRT Station, 1 stop away from Kallang MRT and Paya Lebar MRT, which connects to the Circle Line and East West Line. For those driving, PIE, CTE, KPE and ECP are only a short distance away. Sports and fitness lovers can enjoy being just a 5 minutes drive away from Singapore Sports Hub.
Developer: Hong Leong & CDL
Address: 56 Sims Drive, Singapore
Tenure: 99 years leasehold
Number of units: 566 units
Expected Date of Completion (T.O.P.): 2024
Site Area: 16,225.2 sqm / 174,646.6 sqft
Last Updated: 20 June 2020
June 17, 2020:
Register to receive e-brochure and latest pricing updates, VVIP preview & direct developer discounts.
May 18, 2020:
Now seeking indication of interest
January 25, 2020:
Hong Leong & CDL to develop a luxury development of up to 566 units
March 29, 2019:
URA awarded the tenders to HL & CLD at $383.5 million ($732 psf per plot ratio)
November 30, 2018:
Site at Sims Drive was launched for tender.
Estimated Breakeven Price
According to Edgeprop, the estimated breakeven price of Penrose is $1,264 psf.
Situated In The Center Of Key Growth Area
The blueprint for Paya Lebar Central was unveiled by URA as part of the 2008 Master Plan. Around 12ha of land is available for development with about 500,000sqm of commercial space. The area is to be developed into a lively, pedestrian-friendly commercial hub with a distinctive cultural identity. 3 new shopping malls have also opened in the recent years, including One KM, Paya Lebar Square and Paya Lebar Quarter. As part of the rejuvenation plan, Singpost Centre has also been refurbished with more attractive amenities and retail mix.
Near Penrose Residences, a 8.2ha Kampong Bugis site along Kallang River was called for tender in Dec 2019. This site is expected to yield 4,000 private homes and 50,000sqm of commercial space for retail, office, hotel and recreational use. The entire precinct will be developed in 9 to 11 years by a single developer. The nearby Bidadari Estate is also envisioned to be the next Bishan district, with its plan taking shape since year 2015. A 10ha Bidadari Park with a lake will vitalise the estate, together with 6 distinctive neighbourhoods, and a mixed commercial and residential cluster.
The Singapore Sports Hub is just a short distance away. With sports facilities such as gyms, badminton courts, basketball courts, swimming pools and even beach volleyball courts, residents can look forward to a variety of programmes at the OCBC Arena and National Stadium.
Kallang Wave Mall is also a popular attraction, with a NTUC Hypermart, multiple food options and indoor rock climibing. The cinema and bowling alley at Kallang Leisure Park also puts you in close proximity to more leisure activities.
400m to Aljunied MRT station
Major expressways such as PIE and KPE just a short drive away
Close to reputable schools such as Geylang Methodist School, Geylang Methodist Secondary School and many more
Nearby malls include OneKM mall, Paya Lebar Square and Paya Lebar Quarter
Developer: NovaSims Development Pte. Ltd. (UEN. 201912247D) • Developer’s Licence No.: C1367 • Tenure of Land: Leasehold (99 years lease commencing from 3 July 2019) • Encumbrances: Mortgage in favour of DBS Bank Ltd. • Date of Notice of Vacant Possession under the Sale and Purchase Agreement: No later than 1 October 2025 • Expected Date of Legal Completion: No later than 1 October 2028 or 3 years after the Date of Delivery of Vacant Possession, whichever is the earlier • Lot No. & Location: Lot 11029X MK 24 at Sims Drive
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Disclaimer: The information is subject to change as may be required. All information provided have been treated with care and developer and/or marketing agent should not be liable for any inaccuracy.