Lakepoint Condominium enters private treaty negotiations process

Lakepoint Condominium ended its enbloc deals bid with proposals plunging under of its conserve value and has at present gone into the confidential treaty arrangement operation, reported BT specifying PropNex Realty.

The 309-unit property was released for enbloc sale on 21Oct 2K21 lugging a reserve pricing of $6hundred 40 mil.

PropNex Chief of I and CS Tracy Goh consider the 10 week private treaty agreement operation are going to supply interested people “considerable time” to go over their strategies also approaches, given the updated housing cooling strategies.

” We stay meticulously encouraging relating to the cumulative deal bid given the desirable plot location and also the limited fresh private property supply in the proximate vicinities.”

The government presented brand new residential property cooling procedures on 16December, include greater ABSD rates, to hold down the exhilaration throughout the housing market.

Midtown Modern Floor Plan

With the brand new measures, property developers encounter an ABSD rate of Thirty Fivepercent, rise from Twenty Five percent in the past. BT mentioned that residential property experts anticipate real estate investors to be extra careful on their land acquisitions and the en bloc sale buzz to blow over.

Lakepoint Condominium is a 99-year rent term property development in which fills accross 562,286 sq ft. Found alongside Jurong Lake District also Lakeside MRT terminal, the location is sector for Residential use under the 2019 Masterplan with a PR of 1.4.

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