Updates to planning parameters on Lakepoint Condominium collective sale site
Lakepoint Condominium, a 99-year leasehold development located on Lakepoint Drive in Jurong, was relaunched for collective sale on April 19. The earlier tender closed without bids, as well as PropNex has actually become part of private treaty discussions with engaged parties after the tender closed.
Along the southerly border block dealing with landed properties, URA is prepared to relax the existing five-storey elevation control to seven-storey for the blocks. For the north-east border, blocks up to an elevation of 12 storeys could be supported, ensured it does not surpass the height of the existing 12-storey block and a minimal trouble of 10m from the common border with Caspian condo is enforced. URA has stated it is prepared to think about more leisure of the building height of as much as 16 floors for the continuing to be blocks along the north/north-west limit, subject to a minimum 30m trouble from the usual limit with Lakeholmz residence.
JTC has additionally validated the property base line, which translates to an approximated land rate of $988 psf per plot ratio, inclusive of the project charge and lease top-up costs.
The book rate stays at $640 million.
PropNex Realty, the unique advertising agent of the Lakepoint Condominium cumulative sale, has announced updates to the land preparation parameters of the location in an announcement on July 13, complying with URA’s reply.
The current tender is going to close on July 22 at 2pm.
URA has specified to the Lakepoint Condo Collective Sale Committee that it is “prepared to relieve elevation controls for future developments on the area”, based on situations and also detailed analysis upon conventional planning application, according to PropNex.
“We are heartened that the URA is prepared to relax the varying elevation controls. With several of the blocks going as high as 12 as well as 16 storeys, this will certainly record sensational views of the Jurong Lake Gardens in the brand-new project,” states Tracy Goh, head of investment and cumulative sales at PropNex.
Lakepoint Condominium has a place location of 562,286 sq ft and is zoned for domestic usage, with a plot ratio of 1.4, under the URA Master Plan 2019. The project comprises 304 home systems and five store systems. It lies within strolling range of the Lakeside MRT Station. The area is also near the Jurong Lake District, which will be the most extensive mixed-use enterprise zone apart from the city centre. There are an overall of 2,652 residential units within a 500m distance, of which 712 units are from the neighbouring Caspian.