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In August 2024, the 102,497 sq ft residential development site at Margaret Drive was sold to a consortium made up of Hong Leong Holdings, GuocoLand Limited, and Intrepid Investments. The 99-year leasehold site can yield about 460 residential units ranging from one to five bedrooms.
The winning bid of $1,154 per square foot was about 5% higher than the second bidder, Sing Holdings’ bid of $1,100 per square foot. Only receiving two bids despite Queenstown being a popular residential area is a reflection of Singapore’s sluggish home sales market and high financing costs.
The upcoming Penrith Condo @ Margaret Drive sets up residence in the Queenstown district where residents can enjoy unmatched convenience. The strategic placement of this contemporary development grants residents effortless access to fundamental amenities while they experience peaceful residential living. The entire range of necessities including top educational institutions and shopping facilities and parklands exists within walking or driving distance.
People who live at this location enjoy convenient transportation since MRT stations are positioned near their homes. Residents can reach the city center and additional destinations through Queenstown MRT (EW19) which is situated at 389 meters distance. The two MRT stations Redhill MRT (EW18) and Commonwealth MRT (EW20) are situated at 1.3 km distance from each other to provide efficient transport for work or leisure activities.
The neighborhood contains various educational institutions that parents can access for their children. Queenstown Primary School serves as the nearest primary education option at 109 meters from the development while New Town Primary School is located 1.0 km away and Gan Eng Seng Primary School is at 1.5 km. The neighborhood contains three secondary schools which include Queenstown Secondary School (628 m), Queensway Secondary School (726 m) and Crescent Girls’ School (982 m). International families who wish to enroll their children can select from Invictus International School (Dempsey Hill Campus) at 651 m, Melbourne International School at 675 m or Astor International School at 809 m. The institutions Tisch School of the Arts (708 m), Management Development Institute of Singapore (822 m) and S P Jain School of Global Management (2.0 km) offer higher learning opportunities to the community.
The nearby shopping centers provide customers with a convenient retail experience. The shopping complex Anchorpoint is located at 994 meters distance from the development where residents can access basic products and dining facilities. Alexandra Central (1.2 km) combines fashion with food establishments while Tanglin Mall (1.9 km) meets the demands of premium consumers.
The neighborhood values health and wellness through its close proximity to medical centers. The medical facilities include Bethesda Medical @ Margaret located at 476 meters and Gian Min Medical Centre located at 751 meters and The Learning Umbrella Pte. Ltd. located at 775 meters which provide immediate medical care to residents.
Urban stress disappears when you step into the nearby green spaces. The Learning Forest (1.4 km) provides both natural walking paths and biodiversity discovery opportunities. Two park locations Telok Blangah Hill Park and one-north Park are situated 2.0 km from the development offering playgrounds and picnic areas for both family activities and personal relaxation.
Penrith Condo @ Margaret Drive provides residents with more than just a home because it leads to a harmonious and well-connected existence in a highly sought-after Singaporean district. The amenities at this location make it an excellent selection for working professionals as well as families and real estate investors.
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