Lakepoint Condo En Bloc Sale Latest News Update 2022
URA Relax Height Restrictions For Lakepoint Redevelopment Site
Following a response from the Urban Redevelopment Authority, PropNex Realty, sole marketing representative for the Lakepoint Condominium collective sale, today (July 13) revealed modifications to the site’s land planning guidelines (URA).
According to PropNex Realty, the Urban Redevelopment Authority (URA) has said that, subject to certain criteria and a thorough examination after receiving the official planning application, it is willing to lift height restrictions for the future development to be developed on the site.
What are the important changes?
It was previously reported that the owners of the condominium had won URA clearance for a greater height redevelopment, allowing the site’s purchaser to construct a mix of residential buildings that are 5 storeys and 12 storeys high.
Additionally, according to PropNex, the JTC has endorsed the condo’s development baseline. With the reserve price at S$640 million, the anticipated land pricing, which includes a lease top-up premium, a development fee, and a 7% balcony space, is S$988 per square foot per plot ratio (psf ppr).
On April 19 this year, the 99-year leasehold property within Jurong Lake District was relaunched for collective sale via public tender. Since the tender’s conclusion, private treaty talks have taken place.
Tracy Goh, head of investment and collective sales at PropNex, said: “We are encouraged that the URA is prepared to loosen and approve the variable height limitations for the redevelopment of Lakepoint Condominium, subject to criteria being satisfied.”
According to her, one of the concerns voiced by certain interested parties about the site’s height limitation has been addressed in part by URA’s most recent response.
It will be possible for the architect to capture breathtaking views of the Jurong Lake Gardens in the new construction because some of the blocks reach heights of 12 and 16 storeys.
We are now in private treaty discussions with a few developers and hope to get a great result for the owners.
The Lakepoint Condo occupies a huge area of 562,286 square feet that is allocated for residential use and has a plot ratio of 1.4 according to the URA Master Plan 2019.
It has a total of 304 residential units and 5 shop units and is a short stroll to the Lakeside MRT station from the Jurong Lake District.
Interested parties, please submit your bids by July 22 at 2 pm.
Contact Tracy Goh now at: +65 9001 0711 or Email PropNex tracygoh@propnex.com for more information.
Watch Lakepoint Condo Promotion Video
Wonderful Amenities Around Lakepoint Condo
The New Exciting Jurong Lake Gardens Will Bring More Recreational Activities and Enjoyment For Everyone
Well-loved by both locals and foreigners, Jurong Lake is an iconic natural landmark of Jurong and situated beside the famous Chinese and Japanese gardens.
The surrounding park underwent redevelopment and has been rebranded as Jurong Lake Gardens – Singapore’s third and newest national garden.
The 90-hectare Gardens comprises of the Lakeside Garden, Chinese and Japanese Gardens.
Residents in the neighborhood frequently visit the park for fitness or leisure activities while admiring the lake’s picturesque sights.
The site is situated in between the East and West of Jurong – giving future residents convenient access to enjoy the best of both sides.
Food Centres, Mega Malls and Entertainments Nearby
The Redevelopment Site is Surrounded by Mega Malls, Retail Outlets with Many Dinning and Shopping Options.
For residents in need of retail therapy, Jurong is home to a number of modern mega malls namely Westgate, JEM, JCube, IMM at Jurong East or the most popular Jurong Point gigantic mall at Boon Lay – all of which are just several stops away if taken the ride from Lakeside MRT.
Residents will be spoilt for choice when it comes to food options – besides the malls offering a wide range of international cuisines, for those who are craving for humble hawker fare, Boon Lay Place Market & Food Centre, Jurong West Market & Food Centre and Taman Jurong Market & Food Centre are less than 10 minutes’ walk away.
Families with young children will have endless family-friendly options for entertainment – be it recreational sports at the nearby Jurong Lake Gardens or a learning excursion at the Singapore Science Centre, or learning how to ice skate at the ice-skating rink situated at JCube mall.
A number of popular schools are located within a 1km radius of the site, that includes Shuqun Primary, River Valley High School and Rulang Primary School.
Yuan Ching secondary school and Lakeside Primary School are just few mins walk away.
There is also a Canadian International School nearby which is located just 3 bus stops away, and this has added to the pool of expatriates who live in Jurong.
New Home Buyers Would Want Their New Condo Near Market & Food Centres as There are Wide Variety of Local Foods They Could Enjoy as Well as Low Prices. (All 3 Food Centres Are Less Than 10 mins Walk Away)
Jurong Lake Business District
Many companies and investors have been increasingly drawn to the Jurong region since the government announced its plans to develop a 2nd CBD within Jurong, known as the Jurong Lake District (JLD).
JLD is in a prime location, close to high-value industries, the upcoming Tuas Port, and two world-class universities.
It will build on the existing cluster of commercial retail and office developments in Jurong Gateway which currently houses a number of MNC firms and public agencies.
Given its closeness to the planned mega port at Tuas and the adjacent industrial and logistical clusters, JLD is expected to become a significant center for infrastructure construction businesses as well as the marine services industry.
As the JLD develops, more businesses will come to the region, resulting in a spike in employment creation.
The enbloc site is well-positioned to benefit from the Jurong Lake District’s transformational activities in terms of capital appreciation and rental returns.
Developers who desire greater assurance about prospective buying interest and demand should be drawn to this location, which is rare because there is little or no new supply of residential development land in the region, according to Tracy Goh, PropNex’s head of investment and collective sales.
En Bloc Properties Sold in 2023
If You Have Any Enquiries
Please Contact Tracy At: +65 9001 0711
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