Lakepoint Condominium enters private treaty negotiations process
Lakepoint Condo terminated its en-bloc transactions bid with offerings slipping short of its conserve price and has recently at present entered into the nonpublic treaty agreement procedure, presented BT mentioning PropNex Realty.
The 309-unit property was released for cumulative deal on 21October 2K21 bring a reserve amount of $Six hundred Forty mil.
PropNex Chief of Inv and Collective Sales Tracy Goh strongly believe the Ten weeks exclusive treaty discussions operation are going to offer attracted individuals “plenty of moment” to assess their plannings and also approaches, presented the updated residential property cooling down strategies.
” We remain carefully favorable relating to the cumulative deal tender provided the desirable site area as well as the reduced new private housing quantity in the immediate areas.”
The govt announced fresh property cooling actions on 16 December, which include much higher Additional Buyer’s Stamp Duty rates, to suppress the vitality within the real estate market.
With the updated actions, property developers suffer an Additional Buyer’s Stamp Duty premium of Thirty Fivepercentage, up from Twenty Five percentage in the past. The Business Times announced that real estate experts foresee property developers to be far more aware for their land gains and the cumulative deal hype to die.
Lakepoint Condominium is a Ninety Nine yrs rent term property that holds accross 562,286 sq ft. Situated in close proximity to Jurong Lake Area and Lakeside train station, the location is zoned for Housing purpose underneath the ’19 Masterplan holding a plot ratio of One point Four.