Penrose is a new condominium located along Sims Drive, and just 400m to Aljunied MRT, just 3 to 4 stops to Raffles Place and City Hall.
It is located right outside the Central Business District (CBD), and the developer won the land for a significantly low price during the Government Land Sales (GLS), and if this low land cost is passed down to the selling price, property investors can expect a great bargain at Penrose condominium.
The renowned developer, Tripartite Developers (subsidiary of Hong Leong Holdings and CDL City Developments) won the land bid for $732 per square foot per plot ratio (psf ppr), and this could relate to an average selling price of $1650 psf.
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