Lakepoint Condominium enters private treaty negotiations process
Lakepoint Condominium terminated its en-bloc transactions tender with offers falling short of its own conserve rate and has recently now moved in the confidential arrangement procedure, announced The Business Times citing PropNex Realty.
The 3hundred 9 apartment project was introduced for collective transaction on 21Oct this year bring a hold price of $6hundred 40 mil.
PropNex Director of Inv and Collective Sales Tracy Goh feel the 10-week nonpublic arrangement course will supply interested people “enough opportunity” to go over their strategies also techniques, presented the new property cooling steps.
” We remain cautiously hopeful with regards to the en-bloc deal tender given the captivating spot location also the reduced new exclusive housing supply in the immediate neighborhoods.”
The government launched brand-new property cooling actions on 16Dec, that include increased ABSD premiums, to hold down the spirit amongst the housing market.
With the brand-new steps, real estate investors encounter an ABSD charge of 35%, rise from 25 % earlier. BT mentioned that property analyzers suppose developers to stay much more careful on their land purchases and the cumulative deal hype to fizzle out.
Lakepoint Condo is a 99 yr lease term property that fills beyond 5hundred 62thousand 2hundred 86 sq ft. Positioned around Jurong Lake Area plus Lakeside Mass Rapid Transit station, the plot is sectioned for Non commercial use under the 2019 Masterplan with a PR of One point Four.