Updates to planning parameters on Lakepoint Condominium collective sale site
Along the southerly limit block dealing with landed homes, URA is prepared to rest the existing five-storey elevation control to seven-storey for the blocks. For the north-east limit, blocks as much as a height of 12 floors could be supported, provided it does not go beyond the height of the existing 12-storey block and a minimal trouble of 10m from the common limit with Caspian condo is imposed. URA has mentioned it is prepared to think about further leisure of the structure elevation of up to 16 storeys for the remaining blocks along the north/north-west limit, subject to a minimum 30m setback from the common boundary with Lakeholmz residence.
URA has actually mentioned to the Lakepoint Condo Collective Sale Board that it is “prepared to relax elevation controls for future properties on the location”, based on issues and also thorough examination upon official planning application, according to 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 property consists of 304 domestic units and also 5 shop systems. It rises within walking distance of the Shore MRT Station. The location is likewise near the Jurong Lake District, which will be the most extensive mixed-use downtown outside the city centre. There are a total of 2,652 property units within a 500m span, of which 712 units are from the adjoining Caspian.
The existing tender is going to close on July 22 at 2pm.
PropNex Realty, the special marketing representative of the Lakepoint Residence collective sale, has actually announced updates to the land planning specifications of the site in a news release on July 13, following URA’s reply.
JTC has likewise verified the development base line, which converts to an approximated land rate of $988 psf per plot ratio, inclusive of the project charge and also lease top-up premium.
The booking price stays at $640 million.
Lakepoint Condo, a 99-year leasehold project situated on Lakepoint Drive in Jurong, was relaunched for cumulative sale on April 19. The earlier tender closed without bids, and also PropNex has taken part in private treaty discussions with interested parties after the tender shut.
“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 certainly capture stunning views of the Jurong Lake Gardens in the brand-new development,” claims Tracy Goh, head of financial investment and collective sales at PropNex.