Penrith’s prime location promotes a car-free and pedestrian-friendly lifestyle, complemented by the development’s surrounding amenities. The vicinity boasts of spacious pavements, accessible pathways, and pedestrian crossings, ensuring the safety and convenience of residents who prefer to travel by foot. For cyclists, Penrith offers dedicated paths and links to the Park Connector Network (PCN), which includes popular spots like the Alexandra Canal Linear Park and the Rail Corridor. Not only do these green corridors present leisure opportunities, but they also serve as viable options for eco-conscious individuals who choose to cycle to work or school. With the growing focus on sustainable urban transportation, Penrith is well-equipped to cater to the changing needs of its residents.
The URA Master Plan has a grand vision for the development of not only Penrith, but also its surrounding areas. This includes the transformation of Tanglin Halt, as well as the future redevelopment of the Bukit Merah and Alexandra districts. These planned developments will bring in new mixed-use structures, open public spaces, and parks, resulting in a dynamic and interconnected neighbourhood. By introducing green areas and walkable streets, the aim is to enhance the livability of these areas and promote outdoor activities, making Penrith a highly desirable location to live in. Through a harmonious integration with its neighboring districts, Penrith will flourish as a well-balanced and thriving community.
The first Government Land Sales (GLS) site at Margaret Drive to be released in eight years has been announced. The previous one was in December 2016 and attracted 14 bids. It was eventually acquired by MCL Land at a price of $238.4 million ($998 per square foot per plot ratio) and resulted in the launch of the 309-unit Margaret Ville in June 2018, with an average selling price of $1,880 per square foot. The development was fully sold and completed in 2021. Data from Urban Redevelopment Authority (URA) records show that Margaret Ville has recorded eight transactions this year at an average price of $2,139 per square foot. The most recent transaction was for a 829 square foot two-bedroom unit on the 33rd floor, which sold for $1.85 million ($2,232 per square foot) on June 21.
For homeowners, this GLS plot offers the opportunity to live in a prestigious address in a well-established neighbourhood. The upcoming condominium development will likely feature luxurious and modern facilities such as a swimming pool, gym, and landscaped gardens. Coupled with the stunning views and convenient location, it’s a dream home for many Singaporeans.
One of the main selling points of this GLS plot is its strategic location. It is within walking distance to three MRT stations – Queenstown, Commonwealth, and Redhill – providing residents with easy access to different parts of the city. The nearby Ayer Rajah Expressway also links the area to major business hubs such as the Central Business District and the Jurong Lake District. This makes it an ideal location for professionals and families who want to live in a central yet peaceful neighbourhood.
Apart from the stunning views, the Margaret Drive area also offers a plethora of amenities for its residents. The nearby Queensway Shopping Centre and IKEA Alexandra provide ample shopping and dining options. The upcoming Alexandra Village Food Centre is set to open in 2021 and will offer a wide selection of local delicacies. For those who enjoy outdoor activities, the nearby Queenstown Stadium and City Green Park provide plenty of space for a leisurely jog or a game of frisbee.
Investors will also be pleased to know that the GLS plot in Margaret Drive has a leasehold tenure of 99 years, providing long-term investment potential. The area has seen a steady increase in property prices over the years, and with the development of new amenities and infrastructures in the pipeline, there is a high chance of capital appreciation in the future.
With such potential for both investors and homeowners, it’s no surprise that the GLS plot in Margaret Drive has generated a lot of buzz. The bidding for this plot is expected to be highly competitive, with top developers eager to secure the rights to develop this prime piece of land. The winning developer will have the chance to create a landmark development that will not only enhance the surrounding area but also unlock new opportunities for the Margaret Drive neighbourhood.
But what really sets this GLS plot apart from other developments is its stunning views of Penrith. Located on the western side of Singapore, Penrith is known for its lush greenery and breathtaking sunset views. The GLS plot in Margaret Drive offers unobstructed views of this picturesque landscape, providing residents with a tranquil and scenic living experience. Imagine waking up to the sight of the sun rising over the lush greenery or coming home to a stunning sunset every day – it’s a dream come true for many.
In conclusion, the GLS plot in Margaret Drive with its stunning views of Penrith and promising location is set to unlock new opportunities and elevate the status of the surrounding area. With its prime location, plenty of amenities, and potential for an iconic development, it’s no wonder that this plot has captured the attention of both investors and homeowners. As the bidding for this plot heats up, we can’t wait to see what masterpiece will be created here.
The highly coveted GLS plot in Margaret Drive is situated on a prime piece of land spanning 22,195 square meters. It was released for sale as part of the Government Land Sales (GLS) program, which aims to provide affordable and quality land for private development. This plot is zoned for residential use and has a maximum gross floor area of 56,218 square meters, making it an ideal choice for developers looking to create a high-end condominium project.
Located in the heart of Singapore, the Margaret Drive area is known for its charming blend of heritage buildings and modern developments. It is also home to the glamorous GLS plot, which has been the talk of the town lately. With its stunning views of Penrith and a promising location, this plot is sure to unlock new opportunities for both investors and homeowners alike.
But it’s not just the location and views that make this GLS plot so glamorous. The developer who wins the bid for this plot will also have the opportunity to create a unique and iconic development that will elevate the status of the Margaret Drive area. With a maximum gross floor area of over 56,000 square meters, there is plenty of room for a range of facilities and amenities that will make this development a one-of-a-kind masterpiece.