Updates to planning parameters on Lakepoint Condominium collective sale site

Along the southern boundary block facing landed properties, URA is prepared to rest the existing five-storey elevation control to seven-storey for the blocks. For the north-east border, blocks as much as a height of 12 storeys could be sustained, ensured it does not go beyond the elevation of the existing 12-storey block and also a minimum problem of 10m from the usual limit with Caspian residence is applied. URA has stated it is prepared to think about more relaxation of the structure height of as much as 16 storeys for the remaining blocks along the north/north-west limit, subject to a minimal 30m setback from the common border with Lakeholmz condo.

PropNex Real estate, the special marketing representative of the Lakepoint Condo collective sale, has actually introduced updates to the land preparation criteria of the site in a news release on July 13, complying with URA’s reply.

JTC has actually likewise verified the development baseline, which converts to an approximated land cost of $988 psf per plot ratio, inclusive of the development fee as well as lease top-up costs.
The get price stays at $640 million.

The M Condo floor plan

“We are heartened that the URA is prepared to loosen up the differing height controls. With a few of the blocks going as high as 12 as well as 16 storeys, this will certainly catch sensational views of the Jurong Lake Gardens in the brand-new development,” states Tracy Goh, head of investment and collective sales at PropNex.

The present tender will close on July 22 at 2pm.

Lakepoint Residence, a 99-year leasehold development located on Lakepoint Drive in Jurong, was relaunched for cumulative sale on April 19. The earlier tender closed without proposals, as well as PropNex has taken part in personal treaty talks with interested parties after the tender shut.

Lakepoint Condominium has a place location of 562,286 sq ft and also is zoned for residential use, with a plot ratio of 1.4, under the URA Master Plan 2019. The property comprises 304 home units and also five store devices. It lies within walking distance of the Shore MRT Terminal. The location is additionally near the Jurong Lake Area, which will be the biggest mixed-use enterprise zone apart from the city centre. There are a total amount of 2,652 household units within a 500m span, of which 712 units are from the neighbouring Caspian.

URA has actually specified to the Lakepoint Condo Collective Sale Committee that it is “prepared to relieve elevation controls for future properties on the location”, based on conditions and also thorough examination upon official preparation application, according to PropNex.

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