Updates to planning parameters on Lakepoint Condominium collective sale site

PropNex Realty, the unique advertising representative of the Lakepoint Condominium cumulative sale, has actually revealed updates to the land planning criteria of the site in an announcement on July 13, following URA’s reply.

Along the southerly border block encountering landed residences, URA is prepared to rest the existing five-storey height control to seven-storey for the blocks. For the north-east border, blocks around an elevation of 12 storeys could be upheld, ensured it does not exceed the elevation of the existing 12-storey block as well as a minimal setback of 10m from the common limit with Caspian condominium is implemented. URA has actually stated it is prepared to take into consideration more relaxation of the building level of as much as 16 floors for the continuing to be blocks along the north/north-west boundary, subject to a minimum 30m trouble from the common limit with Lakeholmz apartment.

JTC has actually additionally verified the project standard, which translates to an estimated land fee of $988 psf per plot ratio, inclusive of the property price and also lease top-up premium.

The reserve rate stays at $640 million.

The present tender will end July 22 at 2pm.

URA has stated to the Lakepoint Condo Collective Sale Committee that it is “prepared to ease off elevation controls for future developments on the site”, based on problems as well as comprehensive assessment upon formal planning application, according to PropNex.

Lakepoint Residence, a 99-year leasehold property situated on Lakepoint Drive in Jurong, was relaunched for collective sale on April 19. The earlier tender shut without proposals, as well as PropNex has actually become part of exclusive treaty talks with interested parties after the tender finalized.

“We are heartened that the URA is prepared to unwind the varying height controls. With a few of the blocks going as high as 12 and also 16 storeys, this will capture magnificent views of the Jurong Lake Gardens in the brand-new development,” states Tracy Goh, head of investment and also collective sales at PropNex.

The Arden Phoenix Avenue price

Lakepoint Condo has a site location of 562,286 sq ft and also is zoned for non commercial use, with a plot ratio of 1.4, under the URA Master Plan 2019. The development makes up 304 property systems as well as 5 shop systems. It rises within walking range of the Lakeside MRT Terminal. The site is likewise near the Jurong Lake District, which will certainly be the largest mixed-use downtown outside the city centre. There are a total amount of 2,652 residential units within a 500m radius, of which 712 units are from the adjoining Caspian.

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