Updates to planning parameters on Lakepoint Condominium collective sale site
JTC has also verified the development standard, which converts to a projected land cost of $988 psf per plot ratio, inclusive of the development charge and also lease top-up premium.
The reserve cost continues to be at $640 million.
Lakepoint Condo, a 99-year leasehold project situated on Lakepoint Drive in Jurong, was relaunched for cumulative sale on April 19. The earlier tender shut without bids, as well as PropNex has actually taken part in exclusive treaty talks with interested parties after the tender closed.
Lakepoint Condo has a place area of 562,286 sq ft as well as is zoned for domestic usage, with a plot ratio of 1.4, under the URA Master Plan 2019. The development comprises 304 residential units and 5 store units. It is located within strolling distance of the Shore MRT Terminal. The area is likewise near the Jurong Lake Area, which will be the biggest mixed-use district apart from the city centre. There are a total of 2,652 property units within a 500m span, of which 712 units are from the neighbouring Caspian.
The existing tender is going to end July 22 at 2pm.
Along the southern border block facing landed houses, URA is prepared to relieve the existing five-storey elevation control to seven-storey for the blocks. For the north-east boundary, blocks up to an elevation of 12 floors could be sustained, provided it does not exceed the height of the existing 12-storey block as well as a smallest setback of 10m from the usual limit with Caspian residence is enforced. URA has actually mentioned it is prepared to consider additional relaxation of the building height of approximately 16 storeys for the continuing to be blocks along the north/north-west boundary, based on a minimum 30m trouble from the common limit with Lakeholmz condo.
“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 16 floors, this will catch magnificent views of the Jurong Lake Gardens in the brand-new development,” states Tracy Goh, head of investment and also cumulative sales at PropNex.
URA has actually mentioned to the Lakepoint Residence Collective Sale Committee that it is “prepared to ease off height controls for future properties on the location”, subject to issues as well as in-depth examination upon formal preparation application, according to PropNex.
PropNex Realty, the special advertising agent of the Lakepoint Residence cumulative sale, has actually revealed updates to the land planning specifications of the location in an announcement on July 13, following URA’s reply.
