Updates to planning parameters on Lakepoint Condominium collective sale site

URA has stated to the Lakepoint Condominium Collective Sale Committee that it is “prepared to relieve elevation controls for future developments on the location”, based on conditions as well as detailed assessment upon official planning application, according to PropNex.

The existing tender will close on July 22 at 2pm.

Along the southern boundary block dealing with landed houses, URA is prepared to loosen up the existing five-storey level control to seven-storey for the blocks. For the north-east boundary, blocks as much as a height of 12 storeys could be sustained, ensured it does not surpass the height of the existing 12-storey block as well as a minimal trouble of 10m from the usual border with Caspian residence is applied. URA has specified it is prepared to consider further relaxation of the building height of as much as 16 storeys for the remaining blocks along the north/north-west limit, subject to a minimum 30m obstacle from the common border with Lakeholmz condo.

Lakepoint Condo, a 99-year leasehold project situated 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 become part of private treaty discussions with engaged parties after the tender finalized.

Lakepoint Condominium has a site area of 562,286 sq ft and is zoned for property use, with a plot ratio of 1.4, under the URA Master Plan 2019. The project makes up 304 household units as well as five store systems. It rises within walking range of the Lakeside MRT Terminal. The location is also near the Jurong Lake Area, which will certainly be the biggest mixed-use business district apart from the city centre. There are an overall of 2,652 household units within a 500m span, of which 712 units are from the adjoining Caspian.

Canninghill Piers condominium

“We are heartened that the URA is prepared to unwind the varying elevation controls. With a few of the blocks going as high as 12 and 16 storeys, this will certainly catch stunning sights of the Jurong Lake Gardens in the new property,” says Tracy Goh, head of financial investment and also collective sales at PropNex.

JTC has actually additionally validated the development base line, which converts to an approximated land rate of $988 psf per plot ratio, inclusive of the development fee and also lease top-up premium.

The book rate continues to be at $640 million.

PropNex Realty, the exclusive marketing representative of the Lakepoint Condominium collective sale, has publicized updates to the land preparation criteria of the site in an announcement on July 13, following URA’s reply.

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