Updates to planning parameters on Lakepoint Condominium collective sale site
JTC has also verified the property baseline, which equates to a projected land fee of $988 psf per plot ratio, inclusive of the project price and also lease top-up premium.
The reserve price remains at $640 million.
Along the southern limit block facing landed properties, URA is prepared to loosen up 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 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 limit with Caspian condominium is imposed. URA has actually specified it is prepared to consider more relaxation of the structure height of approximately 16 storeys for the continuing to be blocks along the north/north-west boundary, based on a minimal 30m obstacle from the common boundary with Lakeholmz residence.
“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 capture magnificent views of the Jurong Lake Gardens in the new property,” claims Tracy Goh, head of financial investment and collective sales at 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 closed without bids, and PropNex has actually become part of personal treaty talks with interested parties after the tender closed.
The existing tender will end July 22 at 2pm.
URA has actually stated to the Lakepoint Residence Collective Sale Committee that it is “prepared to loosen up elevation controls for future developments on the location”, subject to conditions and also thorough analysis upon conventional planning application, according to PropNex.
PropNex Realty, the unique marketing agent of the Lakepoint Condo collective sale, has publicized updates to the land preparation parameters of the location in a news release on July 13, adhering to URA’s reply.
Lakepoint Condo has a place location of 562,286 sq ft and is zoned for property use, with a plot ratio of 1.4, under the URA Master Plan 2019. The development makes up 304 property units as well as five store units. It lies within walking distance of the Lakeside MRT Station. The area is likewise near the Jurong Lake District, which will be the biggest mixed-use business district apart from the city centre. There are a total amount of 2,652 property units within a 500m radius, of which 712 units are from the neighbouring Caspian.