Updates to planning parameters on Lakepoint Condominium collective sale site
Lakepoint Residence has a place location of 562,286 sq ft and also is zoned for domestic usage, with a plot ratio of 1.4, under the URA Master Plan 2019. The development comprises 304 property systems and 5 store systems. It situated within walking distance of the Shore MRT Terminal. The location is additionally near the Jurong Lake Area, which will certainly be the most extensive mixed-use business district outside the city centre. There are an overall of 2,652 residential units within a 500m radius, of which 712 units are from the neighbouring Caspian.
PropNex Realty, the unique advertising representative of the Lakepoint Condo cumulative sale, has actually revealed updates to the land preparation criteria of the site in an announcement on July 13, following URA’s reply.
JTC has actually likewise validated the property baseline, which equates to a projected land price of $988 psf per plot ratio, inclusive of the project fee as well as lease top-up premium.
The booking cost stays at $640 million.
“We are heartened that the URA is prepared to loosen up the differing height controls. With several of the blocks going as high as 12 and 16 floors, this will certainly record stunning views of the Jurong Lake Gardens in the new property,” claims Tracy Goh, head of investment and cumulative sales at PropNex.
Along the southerly boundary block dealing with landed residences, URA is prepared to loosen up the existing five-storey height control to seven-storey for the blocks. For the north-east border, blocks around a height of 12 floors could be supported, ensured it does not surpass the height of the existing 12-storey block as well as a minimal problem of 10m from the typical limit with Caspian condominium is applied. URA has mentioned it is prepared to think about further relaxation of the building height of as much as 16 storeys for the continuing to be blocks along the north/north-west boundary, subject to a minimal 30m obstacle from the usual boundary with Lakeholmz condo.
Sceneca Residences condo floor plan
Lakepoint Condominium, a 99-year leasehold property located on Lakepoint Drive in Jurong, was released for commulative sale on April 19. The earlier tender shut without proposals, and also PropNex has actually become part of exclusive treaty talks with engaged parties after the tender closed.
URA has mentioned to the Lakepoint Condo Collective Sale Committee that it is “prepared to loosen up height controls for future projects on the site”, based on issues and comprehensive examination upon conventional planning application, according to PropNex.
The present tender will close on July 22 at 2pm.
