Updates to planning parameters on Lakepoint Condominium collective sale site
Along the southern border block dealing with landed residences, URA is prepared to relax the existing five-storey height control to seven-storey for the blocks. For the north-east limit, blocks up to a height of 12 floors could be upheld, ensured it does not exceed the elevation of the existing 12-storey block as well as a smallest obstacle of 10m from the usual border with Caspian condo is implemented. URA has mentioned it is prepared to consider additional leisure of the structure elevation of up to 16 storeys for the continuing to be blocks along the north/north-west border, subject to a minimum 30m setback from the common limit with Lakeholmz condo.
JTC has actually additionally verified the project standard, which converts to an approximated land price of $988 psf per plot ratio, inclusive of the property charge and also lease top-up premium.
The get rate stays at $640 million.
Lakepoint Condo has a place area of 562,286 sq ft as well as is zoned for residential use, with a plot ratio of 1.4, under the URA Master Plan 2019. The project consists of 304 household devices as well as 5 shop units. It is located within walking distance of the Shore MRT Station. The area is additionally near the Jurong Lake Area, which will certainly be the largest mixed-use downtown apart from the city centre. There are a total of 2,652 household units within a 500m radius, of which 712 units are from the neighbouring Caspian.
Lakepoint Condo, a 99-year leasehold property located on Lakepoint Drive in Jurong, was relaunched for combined sale on April 19. The earlier tender shut without bids, and also PropNex has become part of personal treaty talks with interested parties after the tender closed.
The current tender will close on July 22 at 2pm.
URA has actually specified to the Lakepoint Condo Collective Sale Committee that it is “prepared to ease off height controls for future properties on the location”, based on issues and in-depth evaluation upon formal planning application, according to PropNex.
“We are heartened that the URA is prepared to relax the varying elevation controls. With several of the blocks going as high as 12 as well as 16 storeys, this will capture magnificent sights of the Jurong Lake Gardens in the brand-new development,” claims Tracy Goh, head of financial investment and cumulative sales at PropNex.
PropNex Real estate, the exclusive marketing representative of the Lakepoint Condominium collective sale, has publicized updates to the land planning parameters of the site in a news release on July 13, complying with URA’s reply.