There is no question that Singapore is a wonderful place to live. It continues to grow in population by leaps and bounds, and as a result of that the property developers have to be relentless in finding new land for developing housing. One area that they have had their eye on for several years now would be in the Penrose neighborhood. The intersection at Geylang and Sims drive was recently purchased, and property development officials are celebrating the move because it has 175,000 square feet of real estate purchased for the excellent price of $732 psf per plot. Moreover, the land has the potential for 570 units of housing, and it is close to several public transit stations as well as being just a quick 15-minute drive to Singapore’s Central Business District. Here are some extra characteristics of this appealing plot of land:
Penrose is close to the Aljunied MRT Station.
This 99-year leasehold agreement is going to be turned into a city fringe development at a selling price of $1,400 psf. Additionally, Penrose will have units with an average size of 85 square meters. It is going to expand on some of the amenities that are already present at the property, which include advantages such as a swimming pool, indoor gym, guard house, clubhouse, tennis court, children’s playground, BBQ pits, and a sun deck. Besides this, the Penrose is not far from the Aljunied MRT Station!
Penrose is going to be great real estate for families. One of the main reasons for this is because it is in close proximity to many different schools, including notable examples such as the Geylang Methodist School, the Kong Hwa Primary School, the Cedar Primary School, and the Canossa Catholic Primary School.
Geylang at Penrose has undergone an immense transformation in recent years.
The Singapore suburb of Geylang used to be a fairly undesirable place, especially in the Penrose neighborhood. It was littered with night entertainment spots and had a reputation for being a sleazy place that wasn’t very family friendly. However, this reputation has slowly changed due to the fact that the city fathers have invested $2.2 billion into the neighborhood to transform it into a sought-after fringe-city area. They are seeking to bring out the charm, character, and eclectic architecture of the city and make it appeal to new generations. Moreover, there are many other residential developments in the works besides the plot at Penrose.
There is an added benefit to Penrose being close to the Aljunied MRT station. This public transportation center is just one stop away from the Paya Lebar MRT station, which is one of the main interchanges for gettng around throughout the entire city-state of Singapore. The future residents of Penrose will also be thrilled about being so close to shopping districts such as the Paya Lebar and Sims intersection. Singapore residents have access here to great shopping options such as the One KM Mall, Kinex, City Plaza, the Paya Lebar Square, Guillemard Village, Grandlink Square, and Tanjong Katong Complex.
The Penrose location is near restaurants, eateries, and Hawker Centres.
This Penrose location will have many nearby restaurants available, including options that will include signature dishes such as Frog Porridge , 328 Kong Laksa, and many different Hawker food varieties in the Hawker Food Centres. This area also plays host to many different cafes, incluiding the notable choices of the Brawn and Brains Coffee Shop, which is an excellent to get your coffee fix and to get a nice pastry snack.
Along these same lines, you will find a lot of food markets near this new area as well. Examples include the Sims Vista Market and Food Centre, Upper Boon Keng Food Market Center, the MacPherson Market and Food Centre, and the Circuit Road Food Centre among many others.
Finally, the residents at these Penrose Condos will be living close to several different parks, sports centres, and jogging and walking trails. They will be able to find many more amenities for their morning exercise routine.
All in all, these Penrose Condos will be a great place to live and they are going to be a great investment for property development professionals.