Lakeside Apartments En Bloc Reserve Price At S$240 mil

Lakeside Apartments en bloc at Yuan Ching Road is through public tender at a reserve price of S$240 million on 22 Mar 2022. Tender will close on 25 May 2022 at 2pm. This is the second collective sale try. The first en bloc launch was in 2019. Lakeside Apartments is a 99-year leasehold property with a total of 120 residential units. It sits on a land size of 134,177 square feet and its lease commenced in Mar 1977 which makes it 45 years old now.

Lakeside Apartments Singapore:

credit:google (strictly for reference only)

With reference to the 2019 Master Plan, this land parcel has a gross plot ratio of 2.1 which allows it to build approximately 307 private new condo units in a 24-storey building. Each unit is averagely 915 square feet in size. The per square foot per plot ratio (psf ppr) of the land price is S$1,077 after taking into account the development charge and the topping up of the lease.

Jurong Lake District & Jurong Innovation District:

Lakeside Apartments is beside Jurong Lake Gardens which is within the Jurong Lake District (JLD) transformation. JLD, the largest commercial hub outside the Central Business District (CBD), is slated as the 2nd CBD in Singapore. Lakeside Apartments is also located within close proximity to the Jurong Innovation District (JID), Singapore’s Advanced Manufacturing Hub. The 600 hectares JID, is almost twice the size of JLD. The new integrated transport hub at Jurong East will commence in 2027 in the Jurong precinct, which is undergoing significant transformation. The Singapore Tourism Board is also seeking proposals to develop a tourism hub at JLD that is planned for completion by 2028.

Many amenities can be found here such as malls like Jurong Point, IMM, JCube, JCube and Westgate. Ng Teng Fong General Hospital and the Jurong Community Hospital are nearby too.

The Last Condo Launch In The West:

The Jurong area hasn’t seen new condo launches since the launch of Lake Grande condominium. With the transformation of the Jurong estate, it is envisaged that the entire place will become a place of vibrancy. Many companies would want to relocate to the west part of Singapore and jobs will be created to support the Advanced Manufacturing Hub here.

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source:https://www.straitstimes.com/business/property/lakeside-apartments-up-for-collective-sale-again-at-240-million