Penrose is a new launch residential condominium development, located at Sims Drive, Singapore. As an example, you just need to walk a few minutes from Penrose to reach the Aljunied MRT station, and consequently, only 1 MRT stop to reach the Paya Lebar MRT terminal that happens to be the interchange between the Circle Line and the East-West (Green Line).
The Penrose site is located in the center of the city and therefore it is close to a lot of good schools. Penrose Location is also ideally sought after because it is located near to shopping penrose centres as well as eateries. The developers collectively submit a high bid for its 174,648 sq feet of prime property that's situated in the city fringe in the core of Aljunied and Geylang.
Penrose is also ideal for investors as it is located just 1 MRT stations to Paya Lebar, whereby Paya Lebar Business hub is located at. The newly completed Paya Lebar Quarters offers Grade A offices and and shopping mall that will generate over 10,000 jobs.
Furthermore, considering the selling price of Parc Esta and other developments in the neighborhood already selling at $1,600psf, it means that the selling price of Penrose which is put at $1,400 psf is really bargain and affordable price, considering that it is a location that is even nearer to the city centre compared to other developments.
The 99 Years leasehold advancement on the 174,648 sqft land dimension is going to be developed to a prime city fringe development that include 570 units with a few 17 or even 18 storeys which will contains of 560 units of prime city fringe residential units which can be situated close to Aljunied MRT Station.
Additionally, there are many cafes nearby that include Brawn & Brains Coffee which function trademark coffees in addition to pasteries which are well received by the residents that are staying close to Penrose place at Sims Drive in addition to Aljunied.
Penrose is also close to the many stores and conveniences of downtown Indianapolis such as City Market and Circle Centre Mall. Given that the land was secured at $732 psf ppr, it is estimated that the selling price for Penrose will be around $1,400 psf which is quite low for a city fringe development.