Lakepoint Condominium has a site area of 562,286 sq ft as well as is zoned for residential usage, with a story ratio of 1.4, under the URA Master Plan 2019. For the north-east limit, blocks up to a height of 12 storeys could be supported, provided it does not go beyond the height of the existing 12-storey block as well as a minimum problem of 10m from the common boundary with Caspian condo is enforced. URA has stated it is prepared to consider more relaxation of the building height of up to 16 floors for the continuing to be blocks along the north/north-west boundary, subject to a minimal 30m trouble from the typical border with Lakeholmz condominium.
URA has actually mentioned to the Lakepoint Condominium Collective Sale Committee that it is “prepared to unwind height controls for future developments on the site”, based on problems and comprehensive analysis upon official planning application, according to PropNex.
” We are heartened that the URA is prepared to unwind the differing height controls. With several of the blocks going as high as 12 and also 16 floors, this will capture magnificent sights of the Jurong Lake Gardens in the new growth,” states Tracy Goh, head of investment as well as cumulative sales at PropNex.
Lakepoint Condominium has a website location of 562,286 sq ft and is zoned for household use, with a plot proportion of 1.4, under the URA Master Plan 2019. The site is additionally near the Jurong Lake District, which will be the biggest mixed-use organization area outside the city centre.
Map as well as summary of Lakepoint Condominium (Source: EdgeProp LandLens).
Along the southern limit block facing landed houses, URA is prepared to unwind the existing five-storey elevation control to seven-storey for the blocks. For the north-east limit, blocks up to a height of 12 storeys could be supported, offered it does not surpass the elevation of the existing 12-storey block and a minimum obstacle of 10m from the usual limit with Caspian condominium is applied. URA has stated it is prepared to take into consideration further leisure of the building height of approximately 16 storeys for the continuing to be blocks along the north/north-west boundary, based on a minimal 30m obstacle from the common limit with Lakeholmz condominium.
JTC has additionally validated the growth baseline, which converts to a projected land price of $988 psf per story ratio, inclusive of the growth charge and lease top-up costs.
The get cost remains at $640 million.
Lakepoint Condominium, a 99-year leasehold development located on Lakepoint Drive in Jurong, was relaunched for collective sale on April 19. The earlier tender closed without proposals, and PropNex has actually entered into private treaty talks with interested celebrations after the tender shut.
PropNex Realty, the special advertising and marketing representative of the Lakepoint Condominium cumulative sale, has actually announced updates to the land planning criteria of the site in a news release on July 13, adhering to URA’s reply.