The Lakepoint Condo located close to Jurong Lake District has been launched for en bloc sale via a tender with S$640 million reserve price.
The district has for some time been seen as the second Central Business District in Singapore.
Strata AMC and SLP International Property Consultants are jointly marketing this deal.
The en bloc site is 5-minute walk away from the Lakeside MRT Station and has several shopping malls in close vicinity that include JCube, Westgate, JEM and IMM.
Schools like Yuan Ching Secondary and Lakeside Primary are only walking distance away and for relaxation, Japanese Garden & Chinese Garden are close to the condo too.
The Jurong Innovation District is nearby and so are the Jurong Industrial Park and the Jurong Mega Port.
There are 304 residential units in this 36-year old condominium along with 5 shop units. The residential units start from studio apartments all the way up to penthouses.
Finished in the year 1983, Jurong Town Corporation had developed this project. The 52,238 square metres site which is located along Lakepoint Drive has 1.4 plot ratio and 99-year leasehold tenure.
The marketing agents stated that the pre-application feasibility study has already been conducted and it has shown that the site would be able to support higher density development taking into account traffic impact.
According to them, the developers would be able to explore intensification of the land while taking up a redevelopment project at this site.
In their media release, Strata AMC and SLP expressed their confidence in garnering interest among the big developers for this site.
They further stated that there is a paucity of new homes in the Jurong Lake District at the moment and any new development would have lots of interested takers.
It has been a while since the last land was sold in the area. In March 2015 Jurong West Street 41, a GLS (government land sale) site was picked up.
Lake Grande, a 710-unit development came up on this site and was sold fully in quick time.
The tender closing date for Lakepoint Condominium is September 10, 3:00 PM.