Lakepoint Condominium has a site area of 562,286 sq ft and also is zoned for domestic use, with a story proportion of 1.4, under the URA Master Plan 2019. For the north-east border, obstructs up to a height of 12 floors might be supported, provided it does not surpass the elevation of the existing 12-storey block and also a minimum obstacle of 10m from the usual limit with Caspian condominium is imposed. URA has actually stated it is prepared to consider more leisure of the structure height of up to 16 floors for the staying blocks along the north/north-west border, subject to a minimal 30m obstacle from the typical limit with Lakeholmz condo.
URA has mentioned to the Lakepoint Condominium Collective Sale Committee that it is “prepared to relax height controls for future developments on the site”, subject to problems and thorough evaluation upon official preparation application, according to PropNex.
” We are heartened that the URA is prepared to loosen up the differing height controls. With several of the blocks going as high as 12 and also 16 floors, this will certainly capture spectacular sights of the Jurong Lake Gardens in the brand-new advancement,” claims Tracy Goh, head of investment and also collective sales at PropNex.
Lakepoint Condominium has a website location of 562,286 sq ft as well as is zoned for domestic usage, with a story proportion of 1.4, under the URA Master Plan 2019. The site is likewise near the Jurong Lake District, which will be the biggest mixed-use business area outside the city centre.
Map and overview of Lakepoint Condominium (Source: EdgeProp LandLens).
Along the southern boundary block facing landed houses, URA is prepared to relax the existing five-storey height control to seven-storey for the blocks. For the north-east limit, obstructs up to an elevation of 12 floors could be sustained, supplied it does not exceed the height of the existing 12-storey block and also a minimum setback of 10m from the common limit with Caspian condominium is implemented. URA has stated it is prepared to consider more leisure of the structure height of as much as 16 storeys for the remaining blocks along the north/north-west boundary, based on a minimal 30m problem from the typical boundary with Lakeholmz condominium.
JTC has actually also validated the growth baseline, which equates to an estimated land rate of $988 psf per story ratio, inclusive of the growth cost as well as lease top-up costs.
The get rate continues to be at $640 million.
Lakepoint Condominium, a 99-year leasehold advancement situated on Lakepoint Drive in Jurong, was relaunched for cumulative sale on April 19. The earlier tender closed without bids, as well as PropNex has actually participated in exclusive treaty talks with interested events after the tender shut.
PropNex Realty, the exclusive marketing representative of the Lakepoint Condominium cumulative sale, has announced updates to the land planning criteria of the site in a news release on July 13, adhering to URA’s reply.