Updates to planning parameters on Lakepoint Condominium collective sale site

JTC has actually also validated the development base line, which equates to an approximated land fee of $988 psf per plot ratio, inclusive of the development cost and lease top-up costs.
The get price remains at $640 million.

Along the southern border block dealing with landed properties, URA is prepared to loosen up the existing five-storey height control to seven-storey for the blocks. For the north-east limit, blocks around a height of 12 storeys could be supported, ensured it does not surpass the elevation of the existing 12-storey block as well as a minimum setback of 10m from the typical boundary with Caspian condo is imposed. URA has actually specified it is prepared to take into consideration additional relaxation of the structure elevation of approximately 16 storeys for the staying blocks along the north/north-west limit, subject to a minimum 30m obstacle from the typical border with Lakeholmz condominium.

PropNex Real estate, the exclusive advertising representative of the Lakepoint Condominium cumulative sale, has introduced updates to the land preparation criteria of the location in a news release on July 13, complying with URA’s reply.

The current tender is going to end July 22 at 2pm.

URA has specified to the Lakepoint Condo Collective Sale Committee that it is “prepared to relax height controls for future projects on the site”, based on conditions and comprehensive analysis upon formal preparation application, according to PropNex.

Lakepoint Residence, a 99-year leasehold project situated on Lakepoint Drive in Jurong, was relaunched for collective sale on April 19. The earlier tender closed without bids, and PropNex has become part of personal treaty discussions with engaged parties after the tender finalized.

Klimt Cairnhill Low Keng Huat

Lakepoint Residence has a place area of 562,286 sq ft as well as is zoned for household usage, with a plot ratio of 1.4, under the URA Master Plan 2019. The property comprises 304 home units and 5 store devices. It is located within walking distance of the Lakeside MRT Station. The site is additionally near the Jurong Lake District, which will certainly be the largest mixed-use business district apart from the city centre. There are a total amount of 2,652 residential units within a 500m distance, of which 712 units are from the adjoining Caspian.

“We are heartened that the URA is prepared to unwind the differing elevation controls. With several of the blocks going as high as 12 and 16 floors, this will certainly catch spectacular views of the Jurong Lake Gardens in the brand-new property,” says Tracy Goh, head of investment as well as cumulative sales at PropNex.

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