Penrith Review: A City-Fringe Condo Near Queenstown MRT

About the Property Developers

Penrith is a joint development by a consortium comprising GuocoLand, Hong Leong Holdings’ Intrepid Investments and Hong Leong Group’s Hong Realty. These entities are renowned for their expertise and extensive track records in delivering high-quality real estate projects across Singapore.

GuocoLand Limited: Known for its commitment to innovative designs, sustainability efforts, and meticulous attention to detail, its portfolio includes notable developments such as Martin Modern, Midtown Modern, and the iconic Guoco Tower. These projects exemplify GuocoLand's capability to create properties that not only stand the test of time but also incorporate unique elements like lush greenery and cutting-edge facilities that significantly elevate the living experience.

Hong Leong Holdings: A well-established developer with a strong reputation in the Singapore property market, its involvement alongside GuocoLand, Intrepid Investments, and Hong Realty ensures that Penrith benefits from a combined wealth of experience and a shared commitment to excellence.

What Are the Indicative Prices for Penrith Condo?

Official pricing for Penrith Condo has not yet been released. However, based on comparable market transactions and land cost analysis, it is estimated to be launched at an average price of $2,400 to $2,500 per square foot (psf).

A key price reference is Stirling Residences. Like Penrith, it is located close to Queenstown MRT station. Recent resale transactions at Stirling Residences have largely fallen within the $2,400 to $2,500 psf range, suggesting a similar pricing level due to their comparable location and accessibility.

Penrith’s site was acquired through the Government Land Sales (GLS) programme in August 2024, with the winning bid of $497 million submitted by a joint venture between GuocoLand and Hong Leong Holdings.

This translates to a land cost of approximately $1,154 psf per plot ratio (ppr) - a strong indicator of Penrith’s launch prices, which will align with current market rates for prime city-fringe locations.

In comparison, Margaret Ville, located slightly further from the Queenstown MRT station, has seen resale transactions mostly in the $2,100 to $2,200 psf range. The relatively lower prices reflect its less convenient location.

Where is Penrith Located?

Penrith is located along Margaret Drive in Singapore’s District 3 and is about a 5-minute walk from the Queenstown MRT station on the East-West Line.

Being at the fringe of Orchard Road, it enjoys the dual benefit of being close to the city centre while residing in a relatively quiet neighbourhood where vestiges of its heritage are still present.

Next to it is Queenstown Primary School, while the Queenstown Library is less than 400m away. Other schools in the vicinity include Alexandra Primary School, Gan Eng Seng Primary School, Queensway Secondary School, Queenstown Secondary School, Bukit Merah Secondary School, and Crescent Girls’ School.

The area also enjoys convenient access to amenities such as Margaret Drive Food Centre, Dawson Place Mall, IKEA, Anchorpoint, and several supermarkets, including Sheng Siong, FairPrice, and Cold Storage.

A Brief Background About Margaret Drive/Queenstown

Margaret Drive is nestled at the heart of Queenstown, which is recognised as one of Singapore’s oldest and most cherished neighbourhoods. This mature estate distinguishes itself by blending the charm of its historical roots with the vibrancy of modern urban living, positioning it as a prime choice for various demographics, including families, professionals, and investors.

Queenstown, falling under District 3, is considered a "city fringe" location, offering a unique balance between urban accessibility and suburban tranquillity. Yet, vestiges of its glorious past as Singapore’s first public housing estate remain due to the conservation of the Queenstown Library, Princess House, and former Commonwealth Avenue Wet Market, among other landmarks.

The area is not static; it is undergoing continuous transformation and rejuvenation. The Urban Redevelopment Authority (URA) Master Plan outlines future developments, notably the Greater Southern Waterfront (GSW) and Greater One-North nearby, which are poised to see new commercial, residential, and recreational spaces.

These urban projects are expected to significantly enhance the quality of life and boost property values in nearby areas like Queenstown.

Transportation Connectivity

Queenstown MRT Station

With the Queenstown MRT station on the East-West line just a 5-minute walk from Penrith, residents enjoy convenient access to the Central Business District (CBD), Downtown Singapore, and Jurong Lake District.

For example, a trip to Raffles Place in the CBD and Jurong East only takes approximately 14 and 15 minutes, respectively, making Penrith an ideal choice for professionals working in these two major employment centres.

MRT Interchanges

With Penrith located just 2-3 stops from the Buona Vista and Outram MRT interchanges, residents will enjoy even greater connectivity and commuting convenience.

• Buona Vista: An interchange for the East-West/Circle Lines.
• Outram: An interchange for the East-West/North-East/Thomson-East Coast Lines.

Beyond MRT access, multiple public bus services along Margaret Drive and Commonwealth Avenue provide further flexibility for daily commutes.

Expressways

For drivers, Penrith enjoys effortless connectivity to major expressways within 5–7 minutes, enabling shorter journeys across Singapore.

The Ayer Rajah Expressway (AYE) provides direct links to the CBD, Changi Airport, and Jurong Lake District, while the Central Expressway (CTE) offers seamless access to Orchard Road and Woodlands.

This well-connected transportation network ensures fast, convenient, and well-connected journeys for both work and leisure.

Shopping Centres & Amenities

Residents of Penrith Condo will benefit from excellent retail and lifestyle accessibility due to its proximity to popular shopping destinations like Star Vista (Buona Vista), Clementi Mall, Anchorpoint (Alexandra Road), VivoCity (Harbourfront), Chinatown, Orchard Road, and Jurong East.

IKEA Alexandra and Queensway Shopping Centre, well-known for its diverse sports merchandise, are also a short distance away from the development.

These areas offer a diverse range of retail, dining, and entertainment options, significantly elevating convenience and quality of life.

Most of these places are easily accessible via the nearby Queenstown MRT station or direct bus routes. This seamless connectivity ensures residents enjoy urban conveniences while reducing commuting time, making Penrith Condo a highly desirable residential choice for professionals, families, and investors alike.

Additionally, to shop for groceries and daily necessities, there are two Sheng Siong supermarkets (Margaret Drive and Dawson Road) and a Fairprice supermarket (Dawson Place) a short walk away.

Market & Food Centre

Penrith residents greatly benefit from its proximity to a wide array of established wet markets and hawker centres. These include:

• Margaret Drive Food Centre.
• Mei Ling Market & Food Centre.
• Commonwealth Crescent Market & Food Centre.
• ABC Brickworks Market & Food Centre.
• Alexandra Village Food Centre.
• Redhill Market & Food Centre.

This convenient access to daily necessities, fresh groceries, and a vast selection of highly affordable food options significantly enhances daily living.

Notably, the Margaret Drive Food Centre and Mei Ling Market & Food Centre are within a 6–12-minute walk of Penrith. The others are easily accessible via short public transport connections (bus or train).

Recreational Options Near Penrith

Nearby recreational options include Alexandra Canal Linear Park, HortPark, the Singapore Botanical Gardens, and Rail Corridor.

• Alexandra Canal Linear Park: It offers a green corridor along the Alexandra Canal, providing a recreational space for cycling, jogging, and leisurely strolls, while connecting various neighbourhoods and parks.
• Hort Park: A scenic park with gardens, walking paths, and outdoor activities, blending nature and leisure for residents.
• Singapore Botanical Gardens: Just a short drive away, the Singapore Botanic Gardens is a UNESCO World Heritage Site. It offers residents a lush 82-hectare tropical oasis featuring heritage trees, themed gardens, recreational spaces, and world-class botanical research facilities
• Rail Corridor: It offers a serene and green corridor perfect for walking, cycling, and nature exploration. At the same time, it promotes an active, healthy lifestyle. Residents of Penrith can access it from the Buona Vista community node near One-North.

Meanwhile, the Queenstown Sports Complex nearby is undergoing rejuvenation works and is expected to be ready by the end of 2025. After completion, it will provide high-quality, community-friendly sporting facilities with more free-to-play spaces and refurbished pool amenities for residents.

Schools & Higher Educational Institutions Near Penrith Condo

Penrith is conveniently situated near several primary and secondary schools, ensuring short commutes and more family time. This will ensure less hassle for both parents and children while fostering more quality time together.

Primary Schools

For children entering Primary 1, Queenstown Primary School is situated just beside the development, while several others are located within a 2km radius. These include Alexandra Primary School, Gan Eng Seng Primary, and New Town Primary School.

This proximity will ensure priority admission under the Education Ministry’s distance-based allocation system.

Secondary Schools

Secondary schools near Penrith include Queensway Secondary School, Bukit Merah Secondary School, Queenstown Secondary School, and Crescent Girls’ School.

Although most of these not “branded” schools, many sought-after ones are just a short train/bus ride away in the Clementi area. These include the School of Science and Technology, Nan Hwa High School, and NUS High School of Maths and Science.

Post-Secondary & Tertiary Institutions

Families at Penrith also enjoy convenient access to top post-secondary and tertiary institutions. The Singapore Polytechnic at Dover Road and the National University of Singapore (NUS) at Kent Ridge are just three to four MRT stops away.

Esteemed international educational institutions such as S P Jain at Alexandra Road, INSEAD, and ESSEC Business School at One-North are also easily reachable. Together, they offer families excellent academic options and a supportive environment to foster their children’s educational growth.

International Schools

The proximity to international schools positions Penrith as an ideal choice for expatriate families. Due to its convenient access to quality education for their children, this will attract rental demand from skilled and high-salaried professionals working in major employment centres nearby.

This include One-North located just two MRT stations away, which offers a ready pool of tenants for property investors to tap into.

Some of the international schools nearby Penrith include:

• Astor International School (Kay Siang Road).
• Invictus International School (Loewen Road).
• Melbourne International School (Loewen Road).
• EtonHouse International School (Tanglin Road).
• Knightsbridge House International School (Jalan Bukit Merah).

Proximity to Major Employment Centres

Penrith Condo’s strategic location near key employment hubs significantly enhances its investment appeal.

Situated just two to six MRT stations away from major business districts, including One-North (Singapore’s innovation and R&D hub), Jurong Lake District (the largest commercial hub outside the city), Orchard Road (a premier retail and lifestyle belt), and Raffles Place & Marina Bay (a global financial centre), Penrith offers unparalleled convenience.

This makes it highly appealing for both homeowners and property investors eyeing convenient living,  strong rental demand, and promising capital appreciation potential.

In addition, Penrith’s proximity to the emerging Greater Southern Waterfront (GSW) offers significant long-term upside.

As the GSW transforms into a vibrant waterfront destination with new recreational amenities, green corridors, waterfront promenades, and mixed-use developments, property values in the area are expected to benefit from its transformation.