The Business Times, 22 Mar 2022, Tue 5:50 am
By Vivienne Tay
LAKESIDE Apartments at 9E, 9F Yuan Ching Road will be put up for collective sale again on Mar 22 at a reserve price of S$240 million, marketing agent PropNex Realty said on Monday (Mar 21).
The asking price is the same as the development’s 2019 en bloc launch, although the collective sale committee proposed cutting the property’s reserve price to S$205 million from S$240 million at the time.
The reserve price works out to a land rate of S$1,077 per square foot per plot ratio (psf ppr), including a lease top-up premium and development charge.
Located near Jurong Lake Gardens and the Jurong Lake District, Lakeside Apartments comprises 120 residential units and has a 99-year leasehold land tenure commencing from March 1977.
It sits on a site spanning 12,465.4 sq m (about 134,177 sq ft) zoned for residential use. With a gross plot ratio of 2.1, the plot has the potential to be redeveloped into a 24-storey residential building with 307 condominium units, averaging 915 sq ft each, PropNex said.
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