Updates to planning parameters on Lakepoint Condominium collective sale site
JTC has likewise confirmed the project baseline, which equates to an estimated land price of $988 psf per plot ratio, inclusive of the project charge and also lease top-up premium.
The get price remains at $640 million.
URA has actually specified to the Lakepoint Condominium Collective Sale Committee that it is “prepared to loosen up elevation controls for future properties on the location”, based on conditions and detailed evaluation upon official planning application, according to PropNex.
“We are heartened that the URA is prepared to loosen up the varying elevation controls. With some of the blocks going as high as 12 as well as 16 storeys, this will certainly record magnificent sights of the Jurong Lake Gardens in the brand-new development,” states Tracy Goh, head of financial investment as well as collective sales at PropNex.
PropNex Realty, the unique advertising agent of the Lakepoint Residence collective sale, has actually introduced updates to the land preparation parameters of the site in an announcement on July 13, complying with URA’s reply.
Lakepoint Residence has a site location of 562,286 sq ft and also is zoned for household use, with a plot ratio of 1.4, under the URA Master Plan 2019. The project consists of 304 home systems and five shop units. It lies within walking distance of the Lakeside MRT Station. The location is also near the Jurong Lake District, which will certainly be the best mixed-use enterprise zone apart from the city centre. There are an overall of 2,652 household units within a 500m span, of which 712 units are from the neighbouring Caspian.
Lakepoint Condo, a 99-year leasehold development situated on Lakepoint Drive in Jurong, was relaunched for cumulative sale on April 19. The earlier tender closed without quotes, and also PropNex has actually entered into personal treaty discussions with engaged parties after the tender sealed.
Along the southerly boundary block facing landed properties, URA is prepared to relieve the existing five-storey level control to seven-storey for the blocks. For the north-east border, blocks as many as an elevation of 12 storeys could be sustained, ensured it does not exceed the height of the existing 12-storey block and a smallest obstacle of 10m from the typical limit with Caspian condo is imposed. URA has actually stated it is prepared to take into consideration more relaxation of the structure height of as much as 16 storeys for the staying blocks along the north/north-west limit, based on a minimum 30m problem from the usual boundary with Lakeholmz condominium.
The current tender is going to close on July 22 at 2pm.
