Updates to planning parameters on Lakepoint Condominium collective sale site
URA has stated to the Lakepoint Condominium Collective Sale Board that it is “prepared to ease off height controls for future projects on the location”, subject to problems and thorough assessment upon conventional preparation application, according to PropNex.
The current tender is going to close on July 22 at 2pm.
Lakepoint Condo has a place location of 562,286 sq ft and also is zoned for household usage, with a plot ratio of 1.4, under the URA Master Plan 2019. The property consists of 304 domestic devices as well as five store devices. It is located within strolling distance of the Lakeside MRT Terminal. The area is additionally near the Jurong Lake District, which will be the most extensive mixed-use enterprise zone apart from the city centre. There are an overall of 2,652 property units within a 500m distance, of which 712 units are from the adjoining Caspian.
“We are heartened that the URA is prepared to relax the varying elevation controls. With several of the blocks going as high as 12 and 16 storeys, this will record stunning sights of the Jurong Lake Gardens in the brand-new development,” claims Tracy Goh, head of financial investment and cumulative sales at PropNex.
PropNex Real estate, the exclusive marketing representative of the Lakepoint Condominium cumulative sale, has introduced updates to the land preparation specifications of the location in a press release on July 13, complying with URA’s reply.
Lakepoint Condo, a 99-year leasehold project located on Lakepoint Drive in Jurong, was relaunched for combined sale on April 19. The earlier tender closed without bids, and also PropNex has actually participated in exclusive treaty discussions with interested parties after the tender shut.
Along the southern limit block dealing with landed homes, URA is prepared to loosen up the existing five-storey elevation control to seven-storey for the blocks. For the north-east limit, blocks as many as a height of 12 storeys could be sustained, provided it does not surpass the elevation of the existing 12-storey block as well as a minimum trouble of 10m from the usual border with Caspian condo is applied. URA has actually specified it is prepared to consider additional leisure of the structure elevation of up to 16 storeys for the continuing to be blocks along the north/north-west limit, based on a minimum 30m trouble from the usual border with Lakeholmz condominium.
JTC has likewise confirmed the property standard, which equates to an approximated land rate of $988 psf per plot ratio, inclusive of the development cost and also lease top-up premium.
The booking price remains at $640 million.