Advertisement
Singapore markets close in 2 hours 52 minutes
  • Straits Times Index

    3,172.86
    +0.93 (+0.03%)
     
  • Nikkei

    39,878.20
    +137.80 (+0.35%)
     
  • Hang Seng

    16,571.33
    -165.77 (-0.99%)
     
  • FTSE 100

    7,722.55
    -4.87 (-0.06%)
     
  • Bitcoin USD

    65,068.85
    -3,436.66 (-5.02%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,149.42
    +32.33 (+0.63%)
     
  • Dow

    38,790.43
    +75.63 (+0.20%)
     
  • Nasdaq

    16,103.45
    +130.25 (+0.82%)
     
  • Gold

    2,160.90
    -3.40 (-0.16%)
     
  • Crude Oil

    82.47
    -0.25 (-0.30%)
     
  • 10-Yr Bond

    4.3400
    0.0000 (0.00%)
     
  • FTSE Bursa Malaysia

    1,550.00
    -3.64 (-0.23%)
     
  • Jakarta Composite Index

    7,344.13
    +41.68 (+0.57%)
     
  • PSE Index

    6,897.05
    +43.76 (+0.64%)
     

Collective sale for Lakeside Apartments launched at $240 million

Lakeside Apartments is a 99-year leasehold development, a 15-minute walk away from Lakeside MRT station (Credit: SLP)

Owners of Lakeside Apartments have launched their 120-unit development for collective sale at the reserve price of $240 million.

The asking price reflects a land rate estimate of $1,049 psf per plot ratio (ppr). This includes the Differential Premium of $55.56 million, which covers the development charge and the lease top-up.

Under URA’s Master Plan 2014, the site is zoned “Residential” with a plot ratio of 2.1. The 134,176 sq ft site could potentially be redeveloped into a 340-unit development, with each unit measuring 754 sq ft, says Nicholas Mak, ZACD Group executive director.

ADVERTISEMENT

The 99-year leasehold development, along Yuan Ching Road, is a 15-minute walk to Lakeside MRT station. Lakeside Apartments was completed in 1970, and is within the Jurong Lake District, poised to be the second CBD in Singapore.

The tender for the site will close on 24 July.

Related Articles From EdgeProp.sg
Gloria Mansion up for collective sale at $79 million
Soilbuild Group pays $143.88 mln for Kemaman Point
Park House breaks en bloc price ceiling
This week in property: Highlights from June 4 to June 8