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Boasting a plot ratio of 4.2, the 0.95-hectare site is anticipated to yield approximately 460 residential units, making it a substantial addition to the area. The tender for the Margaret Drive GLS is expected to close in May 2024, marking the first land sale in Queenstown since the record-setting Stirling Residences site in 2017, which attracted 13 bidders. This upcoming project reflects the ongoing demand for prime real estate in the district, promising modern living spaces in a central yet serene location.
Factsheet
| Name | Penrith |
| Type | Condominium |
| Developer | Hong Leong Holdings, Guocoland, and Intrepid Investments. |
| Architect | TBA |
| Address | Margaret Drive |
| District | District D3 – Commonwealth / Alexandra |
| Tenure | 99 years |
| Site Area | Approx. 102,497.1 sqft / 9,522.3 sqm |
| Total Storey | TBA |
| Total Units | 460 units |
| Car Park Capacity | TBA |
| Expected TOP Date | 2029 |
Unit Mix
| Unit Type | Size | No of Units |
| 1-bedroom | TBA | TBA |
| 2-bedroom | TBA | TBA |
| 3-bedroom | TBA | TBA |
| 4-bedroom | TBA | TBA |
| 5-bedroom | TBA | TBA |
| Penthouse | TBA | TBA |
Key Selling Points
Prime central location in Queenstown: Ideal homes for professionals who work in the city but prefer a more tranquil residence.
Excellent connectivity: Just 700m from Queenstown MRT Station (EWL) and close to Ayer Rajah Expressway (AYE) and Central Expressway (CTE).
Plenty of schools nearby: Situated right next to Queenstown Primary School, with several other schools of all levels within a 2km radius of the development.
