Penrose -Strategically located at the Golden Triangle of Major Transformation Zone
Penrose is a new condominium development that sits along Sims Drive in District 14. It is a joint venture between Hong Leong Holdings Limited (HLHL) and City Developments Ltd (CDL) as they won the top bid of $383.5 million for the 174,646 square feet land. This project is estimated to house 565 residential homes with several 17- or 18-storey blocks. The 99-year leasehold site’s expected TOP is between 2023 - 2025.
In fact, both Hong Leong Holdings Limited and City Developments Ltd are subunits of the Hong Leong Group Singapore. While the CDL is Singapore-listed, the HLHL is a privately-held property development and investment arm of the Hong Leong Group. Both have over half a century of experience in the real estate industry and an impressive portfolio, making them one of the most coveted providers in the market. Combined, the Hong Leong Group holds the largest non-government residential land bank, and is also ranked as one of the largest residential developers and biggest commercial landlords in Singapore’s core Central Business District.
Reasons for considering Penrose
1. The Aljunied MRT station is only a 5 minutes stroll away.
2. The Penrose is relatively close to town, CBD and Paya Lebar Regional Centre, the upcoming business hub.
3. There are plenty of large bustling entertainment areas nearby (ie: Bugis, Paya Lebar, Orchard Road and City Hall).
4. Penrose is a considerably large site area at a location like the city fringe.
5. Probably the most attractively priced new launch in the area.
|Location||Sims Drive, Singapore|
|Developer||Hong Leong Holdings & CDL|
|Site Area||Approx. 16,220 sqm / 174,600 sq ft|
|No. of Blocks/Storeys||3 blocks of 20 storey, 1 block of 6 storey|
|Total No. of Units||570|
|Tenure||99 Years Leasehold|
|Expected TOP||Est. 2024|
Located at the city fringe, it is strategically close to the Central Business District and Paya Lebar Regional Centre. According to the URA, the Paya Lebar Regional Centre is currently in the process of developing into one of Singapore’s business, tourism and industrial hubs. Thence future residents are spoilt with even more retail, food and entertainment options. Considering the maturity of the Geylang estate, the condominium has access to multiple modes of transport and amenities.
|Amenities||Approximate Distance||Approx Distance|
|Aljunied (EWL)||400 m||5 min walk|
|Mattar (DTL)||1.6 km||7 min by bus|
|Nearby Bus Stop
|Opp Blk 53
64, 134, 137
|Bef Blk 53
64, 125, 134, 137
|Blk 49 Mkt/FC
64, 134, 137
|Sims Urban Oasis
40, 62, 63, 64, 100, 125, 155, 158
Penrose is conveniently located just 400 m away from the Aljunied MRT station (EWL), hence all it takes is just a 5 minutes walk to travel there. In addition, Paya Lebar (CL, EWL), an interchange, is just one stop away from Aljunied. Bugis (EWL, DTL), is only 3 stops away and City Hall (EWL, NSL) is only 4 stops away, both stations are interchange to different lines too, making travelling around Singapore even easier.
Otherwise, residents can opt to board bus service to reach their destination. There is an extensive bus service network just outside the condominium that allows residents to ply across Singapore.
Other than the aforementioned, residents can choose the most convenient mode of transport, which is driving. Good news is drivers take around 5 minutes to reach Pan Island Expressway (PIE) and Kallang–Paya Lebar Expressway (KPE) during non-peak hours.
As Penrose is situated in the central region, it is very close to the Central Business District, town and the New Growth Areas (Future Bidadari Estate, Paya Lebar Sub-Regional Centre, Kallang Riverside, Marina Bay) where many works at. For instance, Bugis and City Hall are only 3 and 4 stops away respectively, while Suntec City Towers is just roughly 10 minutes drive away. As for the new Paya Lebar Sub-Regional Centre, it takes about a 5 minutes drive to reach or alternatively, 1 MRT stop. Unquestionably, residents can travel to their workplace seamlessly.
In addition, due to the multiple workplaces nearby, especially with the new Paya Lebar Sub-Regional Centre popping up, an influx of job opportunities are created, along with increasing rental demand for residential developments in the area.
Aljunied is transforming into an education hub by bringing top local and international schools together making it a desirable location for families with children due to the convenience it brings.
Parents with children who have yet to start primary school should take particular notice of Geylang Methodist School and Canossa Convent Primary School, as they are within 1 km of the site.
Top schools like Dunman High School, a Special Assistance Plan (SAP) school with the Integrated Programme (IP) syllabus, are in the region as well.
Additionally, 2 International schools, the James Cook University and Nexus International School are also incredibly near, almost right at the doorsteps, thus surrounding the condominium with a youthful and vibrant school atmosphere. The James Cook University even won the Edutrust Star for 4 years, a symbol of recognition for outstanding achievement and the highest level of quality assurance for Private Education Institutions in Singapore.
|Level of education||Approximate Distance||Approximate Travel Time|
|MindChamps Preschool @MacPherson||1.3 km||3 min drive|
|Canossaville Preschool||1.5 km||4 min drive|
|Geylang Methodist School||Within 1 km||6 min walk|
|Canossa Convent Primary School||Within 1 km||11 min by bus|
|Kong Hwa School||Within 2 km||19 min by bus|
|Cedar Primary School||Within 2 km||17 min by bus|
|Geylang Methodist Secondary School||550 m||6 min walk|
|Dunman High School||2.9 km||21 min by bus|
|Chung Cheng High School (Main)||2.9 km||28 min by bus|
|Dunman High School||2.9 km||21 min by bus|
|St Andrew's Junior College||4 km||36 min by bus|
|Singapore Management University||5.9 km||14 min drive|
|Nexus International School||750 m||9 min walk|
|James Cook University||600 m||7 min walk|
Future residents of the Penrose will be delighted to know that the site is situated near many good food options like the SP53 Food Centre and Sims Vista Market & Food Centre, which is a mere 3 minutes walk away from the estate. Moreover, the Sims Vista Market & Food Centre is relatively bigger with more popular food stalls like the Da Jia Hao Delicacies, He Xin Ban Mian, Zhi Jia, etc.
Geylang, widely recognised as a food paradise in Singapore, offers a myriad of food choices along Geylang Road. Famous restaurants with some unconventional food scattered along the area’s lorongs or lanes, are just a 5 minutes drive away.
Geylang East Market & Food Centre, Geylang Bahru Market and Food Centre, Old Airport Road Food Centre and the Circuit Road Market & Food Centre are all in the neighbourhood too, where residents can buy the freshest vegetables and meat or have a meal there. Just note that Circuit Road Market & Food Centre opens from 5 am to 2 pm only. Geylang Bahru Market and Food Centre and Old Airport Road Food Centre are one of the famed hawker centres in Singapore that offers a plethora of delicious and must-try food options.
The Penrose is surrounded by multiple shopping malls that range from the smaller and relatively older ones to the bigger and highly visited malls. Since Aljunied is only 1 stop from Paya Lebar, the mall cluster in Paya Lebar (Paya Lebar Square, SingPost Centre, Paya Lebar Quarter, Kinex Mall, City Plaza) is naturally very accessible from Penrose. If residents prefer to drive, it will only take them 5-7 minutes to arrive at the Paya Lebar malls.
Another mall cluster is at the Singapore Sports Hub, which is about 4 stops from Aljunied (including a transfer) or 9 minutes drive away. Not only do the Leisure Park Kallang and the Kallang Wave Mall have the usual stores and restaurants, but they also house a skate park, rock climbing wall, sports library and a sports museum. The Singapore Sports Hub even has many sports facilities for individuals who engage in sports often to enjoy or just for family bonding activities.
Briefly speaking, there are other major entertainment areas like Suntec City, Bugis (Bugis Junction, Bugis+), City Square Mall and of course, the most popular Orchard Road. These areas are all relatively near, within a 7 - 15 minutes drive from the estate. Alternatively, if residents prefer to travel by MRT, Bugis Station is 3 stops away, City Hall Station is 4 stops away while the Somerset Station is 6 stops away.
Apart from spending time at the malls, future residents can also visit the nearest library, which is the Geylang East Public Library, to read or study.
One can sign up for classes and other activities at the MacPherson Community Centre or socialise with neighbours. Otherwise, East Coast Park is another great destination to relax, with family and friends. According to the URA, there are many new developments and revamps coming up at East Coast Park that future residents can enjoy and make full use of.
Since Penrose is situated in Geylang Serai, one of Singapore’s oldest Malay settlements that is rich in cultural heritage, it provided residents with the opportunity to better understand other cultures in our diverse society. Colourful and picturesque shophouses lined up along the street, where residents can take Instagram worthy photos and take a step back into history.
As part of the Geylang and Paya Lebar masterplan, the aforementioned developments (Paya Lebar Regional Centre) beside the Paya Lebar MRT station will be amalgamated with the Geylang River. About 100,000 sq ft of PLQ will be set aside for green spaces and a cycling path while another part of PLQ will be connected to the revamped and expanded Geylang River. These bring greeneries and nature much closer to the urban area and towers.
Photo below: Kampong Bugis will become Park-like and attractive residential precinct
Apart from the Geylang River, Penrose is also situated close to the Kallang River. Along the river between Kallang and Geylang lies the Kallang Industrial Estate, Kampong Bugis, Kallang Distriprk, Old Kallang Airport and the Kallang Alive (Sports Hub area) and these are some places that URA had planned for a major facelift to inject new opportunities and leisure spaces. Kallang Industrial Estate and parts of the Kallang Riverside will be transformed into a mixed-use lifestyle hub in the future. Meanwhile, the old Kallang Airport area will be catered to sports, recreational and community uses. New and improved infrastructures like walkways and cycling paths will also be built around the area to encourage more activity while crafting a seamless and comfortable carbon-free journey.
* Drag and Scroll Left and Right to view Kallang River Now & Future.
|Location||Approximate Distance||Approximate Travel Time|
|SP53 Food Centre||270 m||3 min walk|
|Sims Vista Market & Food Centre||300 m||3 min walk|
|Ci Hang||850 m||11 min walk|
|Geylang East Market & Food Centre||1.1 km||13 min walk|
|Circuit Road Market & Food Centre||2.3 km||5 min drive|
|Geylang Serai Market||2.6 km||8 min drive|
|Old Airport Road Food Centre||3 km||9 min drive|
|Geylang Bahru Market and Food Centre||4.1 km||10 min drive|
|Sheng Shiong||950 m||10 min by bus
5 min drive
|Giant Supermarket - Paya Lebar Square||1.7 km||5 min drive|
|FairPrice SingPost Centre||1.9 km||6 min drive|
|Guillemard Village||1.3 km||5 min drive|
|Paya Lebar Square||1.6 km||5 min drive|
|SingPost Centre||1.8 km||6 min drive|
|Paya Lebar Quarter||2.1 km||5 min drive|
|Kinex Mall||2.4 km||7 min drive|
|Leisure Park Kallang||3.8 km||9 min drive|
|Kallang Wave Mall||3 km||9 min drive|
|Suntec City||4.4 km||7 min drive|
|Bugis Junction||4.5 km||12 min drive|
|Bugis+||5.3 km||12 min drive|
|City Square Mall||5.4 km||12 min drive|
|Orchard Road||8.2 km||15 min drive|
|Geylang East Public Library||1 km||12 min walk|
|MacPherson Community Centre||1.6 km||17 min by bus|
|Geylang River||1.7 km||17 min by bus|
|Kallang Riverside Park||1.9 km||17 min by bus|
|Wisma Geylang Serai||2.3 km||17 min by bus|
|East Coast Park||3.7 km||9 min drive|
|The Singapore Sports Hub||2.6 km||7 min drive|
Penrose Condo Floor Plan
Penrose Price, Unit Types, Sizes
|UNIT TYPE||No. OF UNITS||SIZE||PRICE|
|1 Bedroom + Study||2||560-570|
|2 Bedroom Premium||68||700-710|
|2 Bedroom + Study||34||797-807|
|3 Bedroom Premium||123||1044-1098|
|3 Bedroom + Study||54||1173-1184|
|4 Bedroom Premium||54||1389-1399|
*Disclaimer: All information is subject to change at developer's discretion.
Penrose Condo Price Comparison
Sims Drive land bid came in below market expectation, the top bid price of SGD383.5 million (SGD732 psf ppr) was in fact the lowest land bid price in psf basis since Feb 2018 for Central Region. The subdued bid prices could be due to larger minimum average unit szie of 85 sqm coupled with higher ABSD rate imposed to developer after July 2018 cooling measures.
Break-even price was estimated around $1,264psf, and the launch price could potentially reach at $1,500-1,700psf. In comparison with the current new launches in D14, price ranging from $1700-1900psf, Penrose could probably be the most attractively priced in the area. The psf will also be well supported by its next door condo, Sims Urban Oasis, which is currently transacted at $1,500psf-$1,600psf in the resale market.
Recommended Safe Entry: $1,620psf
Some thoughts on Penrose Condo
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