Updates to planning parameters on Lakepoint Condominium collective sale site
URA has actually stated to the Lakepoint Condominium Collective Sale Board that it is “prepared to loosen up elevation controls for future properties on the area”, based on issues and also in-depth examination upon official planning application, according to PropNex.
Lakepoint Condo, a 99-year leasehold property situated on Lakepoint Drive in Jurong, was relaunched for cumulative sale on April 19. The earlier tender shut without quotes, and PropNex has participated in exclusive treaty discussions with engaged parties after the tender shut.
JTC has additionally confirmed the property baseline, which translates to a projected land cost of $988 psf per plot ratio, inclusive of the project price as well as lease top-up premium.
The get rate continues to be at $640 million.
Lakepoint Condo has a place area of 562,286 sq ft as well as is zoned for property use, with a plot ratio of 1.4, under the URA Master Plan 2019. The project comprises 304 home systems and 5 shop systems. It is located within strolling distance of the Lakeside MRT Station. The site is likewise near the Jurong Lake Area, which will be the biggest mixed-use enterprise zone apart from the city centre. There are a total of 2,652 property units within a 500m distance, of which 712 units are from the adjoining Caspian.
PropNex Real estate, the unique advertising representative of the Lakepoint Residence cumulative sale, has actually publicized updates to the land planning criteria of the location in an announcement on July 13, following URA’s reply.
Along the southerly limit block encountering landed properties, URA is prepared to loosen up the existing five-storey level control to seven-storey for the blocks. For the north-east boundary, blocks approximately an elevation of 12 storeys could be supported, provided it does not go beyond the height of the existing 12-storey block and a smallest setback of 10m from the usual border with Caspian residence is applied. URA has actually specified it is prepared to take into consideration more leisure of the structure height of approximately 16 storeys for the staying blocks along the north/north-west limit, based on a minimum 30m trouble from the typical limit with Lakeholmz condominium.
“We are heartened that the URA is prepared to kick back the varying height controls. With some of the blocks going as high as 12 and 16 storeys, this will catch sensational sights of the Jurong Lake Gardens in the new property,” says Tracy Goh, head of investment and also collective sales at PropNex.
The existing tender will close on July 22 at 2pm.