Penrose

Penrose - Reviews

PENROSE CONDO  |  ALJUNIED  |  99-YEARS LEASEHOLD  |  D14  |  by HONG LEONG & CDL

Penrose condo are the stunning new luxury development on Sims Drive in Singapore’s District 14, just a short walk away from the Aljunied MRT Station. The pair of Hong Leong and CDL are developing the prime piece of real estate to compliment the Sims Urban Oasis, allowing residents to experience the best in Singapore condo living.

Penrose Showflat Appointment Now Open For Pre-Registration !

Last Updated: 13th May 2024

The Penrose condo development sits on a land size of 174,646 square feet, which can be developed into several 17- or 18-storey blocks that will house a total of approximately 560 premium residential units.

The Penrose development finds itself in the heart of Aljunied, just a 400 meter walk to the Aljunied MRT Station and with direct access to both the Kallang-Paya Lebar Expressway and the Pan Island Expressway.

This accessibility, combined with its proximity to some of Singapore’s best shopping and entertainment centres, means that those living in the Penrose condos can experience everything Singapore has to offer!

WHY THE PENROSE CONDO DEVELOPMENT?

Luxury Condo Living in Singapore

The Penrose condos are one of the most anticipated condos in Singapore because they will combine world class design that its developers are known for with an incredible location.

Developers CDL and Hong Leong will infuse the Penrose development with a variety of amenities ranging from Smart Home Technology to a stunning outdoor pool. A five-star fitness centre, BBQ pits and relaxing outdoor gardens will all provide an escape for residents, without having to leave the property.

When they do leave the property, the location of Penrose means that they will have everything right outside their door. From the exciting hawkers markets of Geylang to Kinex Shopping Mall to Paya Lebar Square, there are endless opportunities to shop, dine and enjoy life without having to go far.

Shopping Centres Near Penrose

Kinex Shopping Mall

Paya Lebar Square

Raffles City Shopping Centre

Suntec City

Orchard Road

Far East Plaza

Redevelopment of Paya Lebar

Another benefit of buying a Penrose condo is that the Urban Redevelopment Authority of Singapore has recently announced plans to rejuvenate the nearby Paya Lebar area. This means that more businesses, shops and restaurants will be coming to the area.

Not only do the URA’s plans for Paya Lebar mean that residents of Penrose will have a brand new urban centre closeby, but it will surely increase property values in the future.

The Penrose Development is Connected

Just 400 meters away from the Aljunied MRT Station, those living in the Penrose condo have direct access to the East West Line. Plus, at only one stop away from the Paya Lebar Interchange, it is extremely quick to reach all parts of Singapore from the development.

One of the biggest selling points for the Penrose condo is the easy access that is offers residents to Singapore’s major parkways. This makes it easier and more convenient that ever to drive into the city as quickly as possible.

Penrose finds itself just a short drive from the Kallang-Paya Lebar Expressway and Pan Island Expressway, making the trip into Singapore’s Central Business District easier than ever for residents.

There are also a number of busses that run along Aljunied Road and throughout Geylang, ensuring that the Penrose development provides accessibility no matter where you need to be.

Penrose is Perfect for Families

There are several high quality schools and educational institutions close to Penrose, making it ideal for families in the area. With a high level of education from renowned facilities, parents in the region can be assured that they have a wealth of options to choose from for their children.

Schools Close to Penrose include:

Geylang Methodist School

Macpherson Primary School

Canossa Convent Primary

Bendemeer Primary School

Cedar Primary School

Kong Hwa School

Nexus International School

Geylang Methodist Secondary

James Cook University

 There are also a number of community centres and sports-related activities for both children and adults near the Penrose condo development. The Geylang East Swimming Complex, the Singapore Basketball Centre and Paragon Sports Centre are all great choices to get children active.

Penrose as an Investment Property

The Penrose condo development offers intriguing investment possibilities, as the project being a ‘fringe city’ property means that it can be purchased at a reasonable price, yet still demand solid rental returns.

As the Penrose development offers both MRT and driving accessibility to the CBD, it is an attractive place to live for those who do not want to spend the high rent on a unit inside the city. This means that owners of Penrose can receive a sizable monthly return of rental income comparable to the purchase price.

Furthermore, the plans to transform District 14 into a business and industrial hub means that there will be a rental demand for those working in the region in coming years. As more companies move within Paya Lebar, the value Penrose properties and the rental income should rise steadily.

Projected Rental Rates for Penrose

Based on the current market rental rates of the comparable Sims Urban Oasis development,  those buying a unit in the Penrose condo can expect monthly rental rates of:

Studio                          $1600 to $2000

1-Bedroom                  $1800 to $2600                      

2-Bedroom                  $2800 to $4000

3-Bedroom                  $4000 to $5000

These rental rates and the projected growth in value of the Penrose condo units as Paya Lebar is revitalized by Singapore’s Urban Redevelopment Association makes the project an interesting investment opportunity.

Penrose Floor Plans

CDL and Hong Leong have not yet released the Penrose floor plans. However, the initial brochures for the development indicate that there will be a variety of residential units that cater to everybody from single professionals to larger families.

With 560 residential units anticipated in the Penrose condo development, potential buyers can expect the following types of units in Penrose:

●     1-Bedroom – 474 sqft to 517 sqft

●     2-Bedroom – 646 sqft to 807 sqft

●     3-Bedroom – 936 sqft to 1184 sqft

●     4-Bedroom – 1389 sqft to 1399 sqft

Penrose Unit Prices

Based on the purchase price of the land at $732 per square foot, we estimate that the price of Penrose condo units will be approximately $1400 per square foot.

1-Bedroom – From $788,000

2-Bedroom – From $943,000

3-Bedroom – From $1,326,000

4-Bedroom – From $2,111,000

The Penrose Developers

Penrose will be a joint project by reputable developers Hong Leong and CDL.

About CDL

One half of the Penrose development team, City Development Limited is a leader in global real estate development. With over 100 worldwide locations in 28 countries, CDL has grown to be one of the largest companies by market capitalisation, as it has been listed on the Singapore Exchange.

With over 50 years of successfully delivering premium real estate projects in Singapore and beyond, CDL’s name is synonymous with prestige. This means that both investors and residents in Penrose know that they are getting nothing but the more luxurious, high quality development in Singapore when they buy their unit.

With several highly regarded residential towers in Singapore including the Trellis Towers, Volari, and The Solitaire, CDL will bring its experience and high standards to the development of Penrose.

About Hong Leong

The second part of the Penrose development team will be Hong Leong Holdings Limited, a development firm that has long established itself as an authority in Singapore real estate.

With a diversified portfolio that includes numerous properties from the Central Core Region and the Outside Core Central Region, Hong Leong Holdings has developed over 100 residential properties since its inception in 1968. With a reach expanding throughout Asia and into Europe and North America, the company has grown to be valued at over $40 billion.

Their previous successful residential buildings include the renowned One Balmoral, Commonwealth Towers, Meyerise and more. One major element of Hong Leong Holdings’ success is that they go far beyond simply developing residential projects.

Hong Leong’s penchant for social development and integrating smart technologies into their projects will certainly help distinguish Penrose as one of Singapore’s most innovative and dynamic luxury condos.