Lakepoint Condominium enters private treaty negotiations process
Lakepoint Condominium closed its enbloc sales bid with proposals dipping short of its own hold price and has recently at the moment gone into the confidential arrangement negotiation procedure, published The Business Times citing PropNex Realty.
The Three hundred Nine apartment property was released for en-bloc sale on 21 Oct ’21 carrying a hold amount of $640 mil.
PropNex Head of Inv and Collective Sales Tracy Goh strongly believe the 10 week exclusive treaty settlement operation will provide concerned parties “ample opportunity” to assess their strategies as well as approaches, presented the updated residence cooling steps.
” We remain cautiously positive with regards to the collective deal bid provided the captivating site area along with the restricted brand-new private housing supply in the nearby locations.”
The government introduced updated real estate cooling measures on 16 Dec, that include increased Additional Buyer’s Stamp Duty charges, to suppress the spirit present in the housing market.
For the brand-new steps, real estate investors face an Additional Buyer’s Stamp Duty rates of 35percentage, raise from Twenty Five % previously. BT presented that property analysts anticipate real estate investors to stay further watchful with their land possessions and the collective sale hype to fizzle out.
Lakepoint Condominium is a Ninety Nine year lease term property development that covers over 5hundred 62thousand 2hundred 86 sq ft. Located in close proximity to Jurong Lake Area plus Lakeside MRT terminal, the spot is sectioned for Non commercial utilization underneath the 2K19 Masterplan carrying a land ratio of 1.4.