Sims Drive New Condo
Penrose @ Sims Drive
An exciting new condo at Sims Drive – Penrose – will be launching soon in 2020.
Fresh from a government land sale (GLS) on March 28, 2019, the upcoming condo project is a 60:40 joint venture between Hong Leong Holdings’ Intrepid Investments and City Developments Ltd.
The 99-year leasehold site has an area of 174,648 sq ft and is expected to yield around 560 units.
The new condo at Sims Drive is well served by the Kallang-Paya Lebar Expressway (KPE) and the Pan Island Expressway (PIE).
Residents can enjoy a short 15-minute drive to the Central Business District (CBD) and Orchard Road, and just one MRT stop away from the bustling Paya Lebar Central.
The site is also in close proximity to popular schools like Geylang Methodist School, Canossa Catholic Primary School, Cedar Primary School, and Kong Hwa Primary School.
Buyers can expect larger unit sizes at Penrose condo, as new URA rules stipulate a minimum average unit size of 85 sqm.
The selling price is estimated to be around an attractive $1,400-1,500 psf, after factoring in the potential larger units, due to a lower-than-expected land bid.
