Updates to planning parameters on Lakepoint Condominium collective sale site
Along the southern limit block dealing with landed houses, URA is prepared to relax the existing five-storey height control to seven-storey for the blocks. For the north-east border, blocks around a height of 12 storeys could be upheld, provided it does not surpass the elevation of the existing 12-storey block and also a smallest obstacle of 10m from the usual limit with Caspian residence is implemented. URA has specified it is prepared to think about more leisure of the structure elevation of as much as 16 floors for the staying blocks along the north/north-west limit, based on a minimal 30m problem from the usual boundary with Lakeholmz apartment.
JTC has additionally validated the development baseline, which translates to an estimated land price of $988 psf per plot ratio, inclusive of the development charge and also lease top-up costs.
The booking price remains at $640 million.
PropNex Realty, the unique marketing agent of the Lakepoint Residence cumulative sale, has announced updates to the land planning specifications of the location in a news release on July 13, complying with URA’s reply.
Lakepoint Condominium, a 99-year leasehold development situated on Lakepoint Drive in Jurong, was relaunched for collective sale on April 19. The earlier tender shut without proposals, as well as PropNex has become part of exclusive treaty talks with engaged parties after the tender shut.
URA has stated to the Lakepoint Residence Collective Sale Board that it is “prepared to relieve elevation controls for future developments on the area”, based on situations and also in-depth assessment upon formal planning application, according to PropNex.
The present tender is going to close on July 22 at 2pm.
“We are heartened that the URA is prepared to loosen up the varying height controls. With a few of the blocks going as high as 12 and also 16 storeys, this will capture stunning sights of the Jurong Lake Gardens in the new development,” claims Tracy Goh, head of financial investment and also collective sales at PropNex.
Lakepoint Residence has a place location of 562,286 sq ft and also is zoned for household use, with a plot ratio of 1.4, under the URA Master Plan 2019. The property consists of 304 property devices as well as five store devices. It rises within walking range of the Shore MRT Station. The area is also near the Jurong Lake Area, which will be the biggest mixed-use business district apart from the city centre. There are a total amount of 2,652 domestic units within a 500m distance, of which 712 units are from the neighbouring Caspian.
