Lakepoint Condominium enters private treaty negotiations process
Lakepoint Condo wrapped up its en bloc deals bid with offers dipping short of its own conserve price and has now entered into the private treaty discussions system, made known BT specifying PropNex Realty.
The 309-unit property development was introduced for cumulative sale on 21Oct 2021 carrying a reserve price of $640 mil.
PropNex Director of I and CS Tracy Goh consider the Ten week exclusive treaty agreement approach will certainly give concerned individuals “sufficient moment” to go over their strategies also strategies, presented the fresh residential property cooling strategies.
” We stand meticulously optimistic regarding the en-bloc sale bid given the desirable plot location as well as the restricted brand-new nonpublic property quantity in the close vicinities.”
The govt introduced brand-new residential property cooling procedures on 16December, which include greater Additional Buyer’s Stamp Duty costs, to hold down the exuberance within the property market.
With the new actions, real estate investors encounter an Additional Buyer’s Stamp Duty rate of Thirty Five%, increase from 25 percentage earlier. The Business Times mentioned that residence experts anticipate developers to be beyond mindful on their land procurements and the cumulative sale hype to die.
Lakepoint Condo is a Ninety Nine yr lease term property in which occupies accross Five hundred Sixty Two thousand Two hundred Eighty Six sq ft. Situated close-by Jurong Lake District also Lakeside MRT station, the spot is sectioned for Non commercial usage under the 2K19 Masterplan carrying a PR of 1.4.