Updates to planning parameters on Lakepoint Condominium collective sale site
Along the southern border block dealing with landed homes, URA is prepared to loosen up the existing five-storey level control to seven-storey for the blocks. For the north-east limit, blocks as many as a height of 12 floors could be supported, provided it does not go beyond the elevation of the existing 12-storey block and also a minimum problem of 10m from the usual border with Caspian condominium is implemented. URA has specified it is prepared to think about additional leisure of the structure height of as much as 16 storeys for the continuing to be blocks along the north/north-west border, based on a minimal 30m setback from the usual limit with Lakeholmz condo.
“We are heartened that the URA is prepared to loosen up the varying elevation controls. With several of the blocks going as high as 12 as well as 16 storeys, this will record spectacular sights of the Jurong Lake Gardens in the brand-new development,” says Tracy Goh, head of investment and collective sales at PropNex.
Lakepoint Residence has a place location of 562,286 sq ft and is zoned for domestic usage, with a plot ratio of 1.4, under the URA Master Plan 2019. The development comprises 304 residential units and also five store systems. It rises within strolling distance of the Shore MRT Station. The site is likewise near the Jurong Lake District, which will be the best mixed-use downtown apart from the city centre. There are an overall of 2,652 residential units within a 500m radius, of which 712 units are from the neighbouring Caspian.
The existing tender will end July 22 at 2pm.
JTC has likewise verified the project standard, which converts to a projected land fee of $988 psf per plot ratio, inclusive of the project fee and also lease top-up premium.
The book cost stays at $640 million.
URA has specified to the Lakepoint Condo Collective Sale Board that it is “prepared to relax elevation controls for future projects on the location”, subject to conditions and detailed evaluation upon official preparation application, according to PropNex.
Lakepoint Residence, a 99-year leasehold development situated on Lakepoint Drive in Jurong, was relaunched for combined sale on April 19. The earlier tender shut without bids, as well as PropNex has actually entered into private treaty talks with interested parties after the tender shut.
PropNex Real estate, the exclusive advertising representative of the Lakepoint Condo cumulative sale, has revealed updates to the land planning parameters of the location in a press release on July 13, complying with URA’s reply.
