Updates to planning parameters on Lakepoint Condominium collective sale site
Lakepoint Residence has a site area of 562,286 sq ft as well as is zoned for household usage, with a plot ratio of 1.4, under the URA Master Plan 2019. The property makes up 304 household units and also 5 store units. It is located within strolling distance of the Lakeside MRT Station. The location is additionally near the Jurong Lake Area, which will be the biggest mixed-use downtown outside the city centre. There are a total amount of 2,652 household units within a 500m distance, of which 712 units are from the adjoining Caspian.
URA has specified to the Lakepoint Condominium Collective Sale Committee that it is “prepared to relax height controls for future developments on the area”, based on situations and detailed examination upon formal planning application, according to PropNex.
Lakepoint Condominium, a 99-year leasehold development located on Lakepoint Drive in Jurong, was relaunched for cumulative sale on April 19. The earlier tender shut without quotes, as well as PropNex has actually entered into private treaty talks with engaged parties after the tender shut.
“We are heartened that the URA is prepared to relax the varying elevation controls. With a few of the blocks going as high as 12 and also 16 storeys, this will certainly catch magnificent views of the Jurong Lake Gardens in the new property,” states Tracy Goh, head of financial investment and cumulative sales at PropNex.
PropNex Real estate, the unique advertising representative of the Lakepoint Residence cumulative sale, has actually revealed updates to the land planning specifications of the site in a press release on July 13, adhering to URA’s reply.
JTC has actually also confirmed the development base line, which translates to an estimated land price of $988 psf per plot ratio, inclusive of the development price and also lease top-up premium.
The booking rate stays at $640 million.
The Landmark Condo Chin Swee Road
The existing tender is going to close on July 22 at 2pm.
Along the southern border block facing landed properties, URA is prepared to relax the existing five-storey elevation control to seven-storey for the blocks. For the north-east border, blocks approximately an elevation of 12 storeys could be supported, ensured it does not surpass the height of the existing 12-storey block as well as a smallest trouble of 10m from the common border with Caspian residence is applied. URA has actually stated it is prepared to consider additional leisure of the building height of as much as 16 storeys for the staying blocks along the north/north-west limit, subject to a minimum 30m trouble from the typical boundary with Lakeholmz residence.
