Lakepoint Condominium En Bloc Offer Below Reserve Price

In the Jurong Lake District, a collective sale is held for an old condominium development named Lakepoint Condominium. The tender was launched for the en bloc on 21 Oct 2021 at a reserve price of S$640 mil. Tender closed at 2pm on 22 Dec 2021. The land rate is S$959 per square foot per plot ratio (psf ppr) based on the above reserve price and after taking into account the development charges and the topping up of the lease to 99 years. As offers fell short of the reserve price, Lakepoint Condominium has entered into a private treaty negotiation process. The en bloc is handled by its exclusive agent, Propnex.

Due to the 16 Dec 2021 new cooling measures, the 10-week process of private treaty negotiations would allow keen parties time for a strategic review of their plans. Lakeview Condo’s proximity to the Jurong Lake District with major transformation plans in the works makes this site very attractive. In addition, there are currently no new launches in the Jurong precinct so there is definitely heightened demand for more new private housing in this area.

Lakepoint Condominium:

Jurong Lake District:

The Jurong Lake District is the 2nd largest Central Business District in Singapore. With this comes exciting plans for this area. In the pipeline is the 600-hectare Jurong Innovation District for advanced manufacturing which will further define Singapore on the world map.

Besides being within walking distance to the Lakeside MRT station (East-West Line), Lakepoint condominium is also in close proximity to shopping malls such as IMM, Westgate, Jem, JCUBE and the Jurong Point Shopping Mall; markets such as Taman Jurong Market and Boon Lay Place Market; as well as schools like Rulang Primary School, ShuQun Primary School, River Valley High and the Canadian International School. Enjoy an evening stroll at the ever popular Chinese and Japanese Gardens and the Jurong Lake Gardens.

Lakepoint Condominium Information:

Lakepoint Condominium Singapore is a 99-year leasehold property sitting on a huge piece of land of 562,286 sqft with 309 residential units. It was built in 1983. The condo’s plot raio is 1.4.

The Last Jurong New Condo Launch In 2015:

The last new condo launch in Jurong was in 2015 and that is the development Lake Grande which is located at Jurong West St 41. The 99-year land plot was launched under the government land sale (GLS) programme.

Source: https://www.businesstimes.com.sg/real-estate/en-bloc-hopeful-lakepoint-condominium-now-in-private-talks-after-offers-fall-short-of

Source: https://www.businesstimes.com.sg/property/lakepoint-condo-s640m-en-bloc-tender-closes-without-bids

New Information Updated on 19th August 2023:

The Next Jurong New Condo Launch In 2023:

Launched in August 2023, The Lakegarden Residences is developed by Wingtai Asia. This new condo launch in Singapore Jurong locale is seated at Yuan Ching Road. A plump site as majority of the units are lake facing.

Look out for the next new launch condo in 2H of 2023. It will the Sora condo just adjacent to The Lakegarden Residences. Sora residence is developed by CEL. There is high expectation from CEL as they have just launched TMR Maxwell in Tanjong Pagar in August and the concept is well planned and thought out.

Discover another upcoming Singapore condo launch also in 2H of 2023. This will be the mixed-development, J’Den (former J’Cube) in Jurong East by CapitaLand. J’Den is just opposite the Jurong East MRT Interchange comprising the East-West Line and the North-South Line and the upcoming Cross Island Line.