Lakepoint condo in Jurong relaunched for sale for $640m

The 99-year leasehold condominium will be on collective sale on 19 April. 

The collective sale of Lakepoint Condominium in Jurong was relaunched on 19 April, with a reserved price retained at $640m.

In a statement, PropNex Realty announced that the 99-year leasehold development has an estimated land rate of $959 to $982 per square foot per plot ratio, inclusive of the development charge and lease top-up premium from Jurong Town Corporation.

Lakepoint Condominium is on a sprawling plot spanning 562,286 square feet and has a plot ratio of 1.4.

The condominium, zoned for residential use, can be redeveloped into 860 new condominium units, averaging 915 square feet each, which will be subjected to the planning authority’s approval.  

Further, the site is conveniently located as it is about 300 metres to the Lakeside Mass Rapid Transit station on the east-west line and within walking distance to the Jurong Lake Gardens, Singapore’s new national gardens in the heartlands.

The sale will end on 8 June 2022 at 2 p.m.