For a show flat viewing appointment, call me at 94896105 or wa.me/6594896105.
Penrose is the most sorted new launch in RCR, let me share the review of this project that you should not miss.
Penrose Review Rating: 92
Development : 9/10
Transportation Link : 9/10
Surrounding Amenities : 9/10
Prices : 9/10
Future Changes : 10/10
Writing property review articles for pre-launch development is a challenge. Limited information, especially the details of the development, like floor plans, type of facilities etc.
In these articles, I will share more on the surrounding of Penrose.
I started writing the Penrose Review on the 14th of August 2020. Penrose is officially launched on 26th September 2020. This development has an overwhelming response during the preview period and we have received more than 2 times of buyers express their interests to buy. Almost 70% sold during the launch day through a balloting process.
Penrose will be another new launch residential development jointly developed by Hong Leong Holding and City Development Limited, 5 blocks of 18 stories residential flat, north-south orientation, located at 20 – 30 Sims Drive, 5 minutes walking distance to Aljunied MRT station.
A total of 566 units comprising of 1-bedroom to 4-bedroom.
The development is scheduled to launch in the 3rd quarter of 2020.
Due to the COVID-19, distancing measures taking place, all viewing strictly by appointment.
(WhatsApp me at wa.me/6594896105 if you would like to view the show flat)
Facilities Of Penrose
Penrose is designed with more than 50 communal facilities, caters to all levels of the residents in the development, kids to senior citizen.
Unlike other development, there is only a children's pool and a playground for the kids. Penrose created a Kids Adventure Parks where all the kids residing in this development can have funs.
5 green lawn surrounded the 50m lap pools allows difference theme activities for the residents. Several leisure courtyards are available for your social gathering needs. A terrace teahouse pavilion overlooking the 50m lap pools, giving the comfortable feeling of indulging in nature.
Gyms, the tennis court is always the main feature in all new development. Last, of all, the Cascading Garden Walk allows residents to have a nice evening walk after their dinner.
Other key important facilities in this development are the child care centre, two stories of 500-metre square spaces to accommodate the children within the development and also open to the public. It gives peace of mind for parents who are both working where to place their kids when they are out for work.
The developer is very thoughtful, allocated 12 parking lots beside the Child Care Centre for non-residents as a holding place while sending and fetching their child, furthermore, the flow of the traffics will not affects the residents in Penrose.
Penrose Units Types
A total of 566 units in this development on a land size of 174,648sqft, comprises of 1-bedroom to a 4-bedroom layout.
1 Bedroom Units.
Unlike other developments, Penrose only has 57 units of 1 bedroom and that only take up an estimate 10% of the whole development. The units are located in stack 04, 05 and 13.
The 1 bedroom sizes are range from 473sqft to 561 sqft. It comes with an open kitchen. The unit layout is one of the best in the market with these sizes.
Penrose only has 2 units of 1 + Study unit, 560sqft and 570 sqft.
Penrose developer knew that the is a strong demand for 2 and 3 bedrooms within this area, 2 2 bedrooms ( for young family and investor) and 3 bedrooms will be more affordable for HDB upgraders. So the supply of 2 bedrooms and 3 bedrooms in Penrose take-up 30% and 48% of the whole Penrose development.
2 Bedroom Units
2 bedroom units where one of the units type Penrose developer focus on. It takes up 30.1% of the whole development. All units are well designed and very spacious. 3 typical layout, 2-bedroom unit, 2-bedroom premium unit and the 2-bedroom + study unit.
The floor plan shows above it the show flat unit. It is a dump bell layout, the rooms are separated and the living hall is in the middle. The kitchen in a cubicle by itself although it didn't come with a kitchen door. although the units sizes are only 60-meter square (646 sqft), but the unit looks more spacious than it is.
There are some other unit layout with bigger sizes ( Whatsapp for more details)
3 Bedroom Units
The 3 bedrooms unit in Penrose takes up 48% of the whole development. A total of 3 typical units type, 3-bedroom, 3-bedroom premium and 3-bedroom + study units.
This 3-bedroom is the smaller size 3-bedroom in the development. The common room is of the same sizes and comfortably can place a queen sizes bed and still have room for you to move around. An ideal choice 3 bedroom layout for a family of 4, the entry price is excellent for upgraders.
The balcony is spacious to place the dining set for 4 people with a comfortable seating place and you can ease up the dining area to accommodate more living area. Very efficient layout with limited spaces wastage.
4 Bedrooms Unit
The 4-bedroom is limited supply in Penrose. Only 54 units, less than 10% of the whole Penrose development. There are 2 types of layout where I called it the Landscape living hall layout and Portrait living hall layout.
Penrose 4 bedroom is one of the well-sorted designed in the market, all the rooms sizes are exceptionally spacious, all rooms are en-suite. Prices are one of the lowest in the RCR, if you are upgrading to a bigger unit, Penrose is one of the development you should not miss.
Location Of Penrose
Penrose is located in the Rest of Core Region, District 14. A very centralise location situated in a mature estate where all amenities is already in place. Just 6 minutes of walking distance to Aljunied MRT (400M).
Amenities Surrounded Penrose
The HDB shops opposite the development will be able to provide you with your daily grocery needs. The well-known wet and dry market, Sims Vista is just a 300m from Penrose.
For a Shopping mall, you can reach the Paya Lebar Square and Kinnex Shopping Mall, Paya Lebar Quarter, SingPost and City Plaza in just 1 MRT stations from Aljunied MRT station which is only 5 minutes walking time from Penrose.
The well-know Geylang Serai Markets is also located nearby.
The Kallang Wave Mall is also reachable in just 10 minutes drive.
For people who like to read, you can easily reach the Geylang East Public Library just 9 minutes walking timing which is 800m from Penrose.
Primary Schools Near Penrose
For parents with kids looking for primary schools, Canossa Catholic Primary School and Geylang Methodist School is just with 1km radius, within the 2 km radius, you have the Bendemeer Primary School, Cedar Primary School and Kong Hwa School.
Transportation within Penrose
Aljunied MRT station is just 400m from Penrose, a 6 minutes walking distance. 1 MRT station to the Interchange Paya Lebar MRT station giving you the convenience to reach any part of Singapore with the MRT system. Penrose is located in a very centralise area, 1 MRT station to Paya Lebar MRT Stations will allow you to hope into the Circle Lines bringing you to almost anywhere in Singapore.
If you are working in the Town Area, from Aljunied MRT station, 4 stations will bring you to City Hall Station and Raffles Place Stations is just 5 stations away. You even have the convenience of reaching the Changi Airport in 7 stations.
For people who are driving, you can easily access the PIE, KPE, ECP in just a couple of minutes, and reaching to the western end of Singapore within 40 Minutes drive, averaging within 30 minutes you can reach almost every corner of Singapore.
Future Development Around Penrose
Penrose is located within four Major New Growth Area. Bidadari Estate, Paya Lebar Sub Regional Centre, Kallang Riverside and City Centre / CBD.
Bidadari Estate is more on the Public Residential development (HDB) but yet there are amenities like shopping malls, parks that will be constructed within the area. Allow another leisure park you can visit, like the Akaf lake.
For the 3 growth areas, more commercial activities will on conducted in these 3 areas, It will then increase the demand for rental within the surrounding area, especially the lodging area near the MRT station.
Paya lebar Sub Regional Centre
Paya Lebar Central is an attractive work workplace, creating vibrant business and innovation hubs. It is centrally located near the city. High tech offices with facilities are constructed in the region, attracting more company relocate their office to operate here, this will increase the demand for a rental flat. Penrose is just 1 MRT station to this sub-regional centre.
The MRT lines run through the other 2 new growth area, the Kallang and the City Centre. For tenants who don’t have a high budget to rent a place in town, the City fringe location will be their choice. Penrose falls within their expectation area.
Since Penrose is in the mid of preparing for the launch, pricing will only be made known on the day of launch. Let take a look at the surrounding new projects launching price over the last 2 years, the balance units and their prices.
The new launch projects within this area have launched at a price from S$1,650psf to S$2,000psf and most of the development are selling well, especially the 1-bedroom, 2-bedroom and 3-bedroom units are seriously low of supply.
Looking at the markets sentiments, June 2020, new launch sales have more than double the sales in May 2020, this shows that the Singapore property markets are still resilient.
What will be the expecting prices for Penrose?
Limited supply in this area, and only 566 units in the development. The probably launching prices will be at the median prices of S$1,650psf.
Let take a closer in-depth analysis of the pricing
Hong Leong and CDL acquired the land plot through a GLS bidding exercise, they successfully bid for the land plot at $383.5 million ($732 psf per plot ratio)
Taking into the cost of the construction at S$500psf, the break-even prices should be close to S$1,232psf. Profits margin is between 25% to 30%, so the prices will be in the range of S$1,540psf to S$1,602psf.
Currently, other projects balance units are selling at an average above S$1,700psf. So at a median launching price of S$1,650psf, the price goes in line with the markets, at this prices is much cheaper than any of the developments within the areas, the entry prices will be very affordable for most of the upgraders.
The above pricing is analysis before the launch of the development. Very surprisingly, the developer launches the development from S$1450psf, and now the prices are still very attractive, ranging from S$1550psf to S$1,700psf.
Penrose has only 566 units on a good land size of 174,648sqft which is a very comfortable living estate. The estate is spacious enough for the residents. 50 over facilities pamper the residents with choice and the Childcare centre is a great help to parents who are both working.
Penrose is located in the city fringe location within the major upcoming transformation, providing great value and future appreciation.
Transportation is very convenience, estimate 6 minutes walk to Aljunied MRT station (East-West Line / Green Line), only 1 station to Paya Lebar Quarter. For those who drive, KPE, ECP, PIE and CTE are reachable within 5 minutes drive.
Penrose is within 2 km to good schools like Geylang Methodist, Cedar Primary School, Canossa Catholic, Bendemeer Primary and Kong Hwa school.
Abundant of amenities, across the road, is the Sims Vista Market and several Hawker centres within the Aljunied / Macpherson estate. Nearby shopping more like Paya Lebar Quarter, SingPost, Paya Lebar Square, KINEX, City Plaza and Kallang Wave Mall.
Penrose is jointly developed by Hong Leong and City Development Ltd, they have good reputations in all their developments and have been awarded green building awards for most of their projects.
The price will be very competitive with other new launch development in RCR area, it is still one of the lowest S$psf with the RCR.
**Latest Updates, all 1 and 2 bedroom type sold out.**
Penrose now is 77% sold
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Peter Tan Choon Guan, The Real Estate Guy. Senior Associate Group Director and Project IC with OrangeTee & Tie. Since 1995, he has been providing professional consulting services to clients in Singapore and beyond. From strategic planning to innovative solutions, his focus is always on building an efficient and results-driven relationship. He will work with you to create a customized plan of action for yourself or your organization. Peter is an adventurous person, he is a basketball player since school times, represent schools and organisation in the National Tournament. He is also active in track and fields, participated in school events and national events and got a bronze medal for his Long Jump events and a silver medal in his 100M run. Water sports in another area he is interested, obtained a few medals for his canoeing competition. He conquered Mount Kinabalu in East Malaysia, Mount Tahan and Mount Ophir in East Malaysia. He is enlisted into National Services as Naval personnel, a Section IC in his department. Appointed to Acting Platoon Sergeant during his Reservist. During school times, he is a class monitor and a school prefect during his primary school time. Become a youth leader in a later stage. With all the exposal created him a leader by nature, able to train and guide people. Starting to run in his own business in the year 1995 and ended his business in years 2013. This allows him to be able to communicate at all levels in society. Joining the Real Estate Industry in the year 1995 as a part-timer, after he ended his business in 2013, he focuses on Real Estate consultation, not only starts to invest in property himself, he also assisted more than 350 property investors to build their wealth in property investment. With the hand on investment himself, he will be able to provide you with real-time property insight and strategic planning for your property investment through Property Investment Planning System. WhatsApp Peter if you need any assistance. If you do like this article, please give me some comments and like.
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