Lakeside Towers Yuan Ching Road En Bloc Sale 2023 Instagram

Lakeside Towers En Bloc Sale 2023 – JLD (OCR)

The Yuan Ching Road Collective Sale Site is the Fourth Property Managed To Launch Within the Jurong Lake District

As residential properties close to the planned Jurong Lake District (JLD) come into the limelight, Lakeside Towers at Yuan Ching Road has been put up for collective sale by tender.

The 144-unit condo’s owners are now asking for S$350 million for the sale, 14.8% more than their 2018 reserve price of S$305 million.

The tender follows CapitaLand Development’s declaration that JCube would be converted into a 40-storey residential building in accordance with the Singapore government’s intentions to expand the JLD with additional residences, companies, and services.

Additionally, it comes after the neighbouring condo Lakeside Apartments, which changed hands at a 14% premium, more than six months ago.

Later, for S$260 million, Park View Mansions, located along Yuan Ching Road, was sold. The trio’s neighbor, Lakepoint Condominium, ended its collective sale tender without receiving any offers in June.

The JLD, which is regarded as Singapore’s second central business district, is bordered by Lakeside Towers.

The two 16-storey buildings that make up the 99-year leasehold property were finished in 1981.

The 14,236.1 square meters (sq m) land that the en bloc site is situated on has a gross plot ratio (GPR) of 2.1 and is designated for residential use.

But according to JLL, the development’s present as-built gross floor area (GFA), which has been properly confirmed with the relevant authorities, is comparable to a GPR of 2.35953.

This means that after taking into account an expected lease top-up premium and no land betterment fee, its reserve price of S$350 million translates to a land rate of about S$1,244 psf ppr.

Based on the minimum average size control of 85 sq m, JLL said that the new project may support up to 395 residential units.

On April 12, at 3 p.m., the Lakeside Towers tender will expire.

Lakeside Towers En Bloc All Details

  • Status: For Sale

  • Tenure: 99-year Leasehold

  • Land Size: 14,236.1 sq m

  • Total Units: 144

  • Nearest MRT: Lakeside

  • Address: 9G & 9H Yuan Ching Road

  • District: 22

  • Singapore Region: Outside Central Region (OCR)

  • Marketing Agent: JLL Singapore

  • Reserve Price: S$350 million

  • Tender Close: Apr 12, 2023