Updates to planning parameters on Lakepoint Condominium collective sale site
Lakepoint Residence, a 99-year leasehold development located on Lakepoint Drive in Jurong, was relaunched for cumulative sale on April 19. The earlier tender shut without quotes, and also PropNex has participated in personal treaty discussions with interested parties after the tender shut.
JTC has also validated the property standard, which converts to a projected land price of $988 psf per plot ratio, inclusive of the project price as well as lease top-up premium.
The get cost continues to be at $640 million.
The present tender will end July 22 at 2pm.
Lakepoint Condo has a place area of 562,286 sq ft and also is zoned for residential usage, with a plot ratio of 1.4, under the URA Master Plan 2019. The project makes up 304 household devices and also five store units. It rises within strolling distance of the Lakeside MRT Station. The location is also near the Jurong Lake District, which will be the best mixed-use enterprise zone apart from the city centre. There are a total amount of 2,652 domestic units within a 500m distance, of which 712 units are from the adjoining Caspian.
Along the southern limit block dealing with landed properties, URA is prepared to loosen up the existing five-storey level control to seven-storey for the blocks. For the north-east boundary, blocks around an elevation of 12 storeys could be supported, provided it does not go beyond the elevation of the existing 12-storey block and also a minimum setback of 10m from the typical boundary with Caspian condo is applied. URA has actually specified it is prepared to take into consideration additional relaxation of the structure level of up to 16 floors for the continuing to be blocks along the north/north-west limit, based on a minimal 30m obstacle from the common border with Lakeholmz condominium.
PropNex Realty, the special marketing representative of the Lakepoint Residence cumulative sale, has actually introduced updates to the land preparation criteria of the location in a news release on July 13, complying with URA’s reply.
“We are heartened that the URA is prepared to kick back the differing elevation controls. With some of the blocks going as high as 12 and also 16 floors, this will catch stunning sights of the Jurong Lake Gardens in the brand-new development,” says Tracy Goh, head of investment and also cumulative sales at PropNex.
URA has actually specified to the Lakepoint Residence Collective Sale Committee that it is “prepared to relax height controls for future projects on the location”, subject to conditions as well as detailed assessment upon conventional planning application, according to PropNex.