Updates to planning parameters on Lakepoint Condominium collective sale site
Along the southern border block facing landed residences, URA is prepared to rest the existing five-storey elevation control to seven-storey for the blocks. For the north-east border, blocks around a height of 12 storeys could be upheld, ensured it does not go beyond the elevation of the existing 12-storey block and also a minimal obstacle of 10m from the usual border with Caspian condo is enforced. URA has actually stated it is prepared to take into consideration additional leisure of the structure level of up to 16 floors for the continuing to be blocks along the north/north-west limit, subject to a minimal 30m problem from the typical border with Lakeholmz residence.
Lakepoint Residence, a 99-year leasehold project 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 exclusive treaty talks with interested parties after the tender sealed.
JTC has also confirmed the property base line, which converts to an estimated land cost of $988 psf per plot ratio, inclusive of the development fee as well as lease top-up premium.
The reserrve rate continues to be at $640 million.
Lakepoint Condominium has a place area of 562,286 sq ft and is zoned for residential use, with a plot ratio of 1.4, under the URA Master Plan 2019. The property makes up 304 domestic devices and 5 shop units. It lies within strolling range of the Lakeside MRT Station. The site is additionally near the Jurong Lake District, which will certainly be the most extensive mixed-use business district apart from the city centre. There are an overall of 2,652 domestic units within a 500m distance, of which 712 units are from the neighbouring Caspian.
URA has actually stated to the Lakepoint Condominium Collective Sale Committee that it is “prepared to relax height controls for future projects on the area”, subject to problems as well as in-depth examination upon official planning application, according to PropNex.
The existing tender is going to close on July 22 at 2pm.
PropNex Realty, the unique advertising agent of the Lakepoint Condo collective sale, has actually publicized updates to the land preparation criteria of the location in a press release on July 13, following URA’s reply.
“We are heartened that the URA is prepared to unwind the differing height controls. With some of the blocks going as high as 12 and 16 floors, this will catch sensational views of the Jurong Lake Gardens in the brand-new property,” claims Tracy Goh, head of investment as well as cumulative sales at PropNex.