Lakepoint Condominium enters private treaty negotiations process
Lakepoint Condominium wrapped up its en-bloc deals tender with submissions stumbling short of its own minimum pricing and has recently at present entered into the nonpublic treaty arrangement system, mentioned BT quoting PropNex Realty.
The Three hundred Nine unit property was commenced for cumulative transaction on 21Oct this year lugging a reserve rate of $6hundred 40 million.
PropNex Head of I and CS Tracy Goh strongly believe the 10-week exclusive treaty arrangement procedure are going to furnish potential parties “ample moment” to examine their plannings plus techniques, offered the new residential property cooling down strategies.
” We continue being carefully confident relating to the en-bloc sale tender offered the eye-catching spot location along with the minimal brand-new private property supply in the immediate areas.”
The govt presented brand-new residential property cooling steps on 16Dec, include much higher Additional Buyer’s Stamp Duty costs, to tame the enthusiasm throughout the real estate market.
With the new steps, real estate investors encounter an Additional Buyer’s Stamp Duty charge of Thirty Five%, rise from 25 percent formerly. The Business Times mentioned that residential property analyzers anticipate real estate investors being much more watchful for their land purchases and the en-bloc deal hype to end out.
Lakepoint Condo is a 99 yrs leasehold property that utilizes over Five hundred Sixty Two thousand Two hundred Eighty Six sq ft. Located around Jurong Lake Area and Lakeside Mass Rapid Transit terminal, the location is sectioned for Housing use under the ’19 Masterplan with a land ratio of One point Four.