Updates to planning parameters on Lakepoint Condominium collective sale site
Along the southerly limit block encountering landed houses, URA is prepared to loosen up the existing five-storey level control to seven-storey for the blocks. For the north-east boundary, blocks approximately a height of 12 floors could be upheld, ensured it does not surpass the height of the existing 12-storey block and also a smallest obstacle of 10m from the usual border with Caspian condo is applied. URA has actually specified it is prepared to take into consideration additional relaxation of the structure height of up to 16 floors for the staying blocks along the north/north-west limit, subject to a minimum 30m obstacle from the usual limit with Lakeholmz residence.
URA has stated to the Lakepoint Residence Collective Sale Committee that it is “prepared to relax elevation controls for future properties on the area”, subject to conditions and comprehensive examination upon conventional preparation application, according to PropNex.
The current tender will end July 22 at 2pm.
PropNex Real estate, the unique marketing representative of the Lakepoint Condominium collective sale, has introduced updates to the land preparation parameters of the location in a press release on July 13, following URA’s reply.
Lakepoint Residence has a place area of 562,286 sq ft as well as is zoned for property usage, with a plot ratio of 1.4, under the URA Master Plan 2019. The development makes up 304 household devices and also five store units. It lies within walking distance of the Shore MRT Terminal. The location is likewise near the Jurong Lake Area, which will be the most extensive mixed-use enterprise zone outside the city centre. There are a total amount of 2,652 domestic units within a 500m span, of which 712 units are from the adjoining Caspian.
Lakepoint Condominium, a 99-year leasehold development located on Lakepoint Drive in Jurong, was relaunched for collective sale on April 19. The earlier tender shut without bids, as well as PropNex has actually become part of exclusive treaty talks with interested parties after the tender finalized.
“We are heartened that the URA is prepared to unwind the differing height controls. With a few of the blocks going as high as 12 and also 16 storeys, this will certainly record stunning views of the Jurong Lake Gardens in the brand-new development,” states Tracy Goh, head of financial investment as well as cumulative sales at PropNex.
JTC has actually also verified the project base line, which equates to an estimated land price of $988 psf per plot ratio, inclusive of the project fee and also lease top-up premium.
The reserve price remains at $640 million.