[Bigbluedot]

Lakepoint Condominium closed its collective sale tender without bids and is now entering into private treaty negotiations with interested parties, said exclusive marketing agency PropNex Realty in a statement on Wednesday (June 8).
This is the latest sale attempt by the owners of the 99-year leasehold Jurong condominium. The previous tender had also closed without a bid on Dec 22, 2021.
“While there was interest in the Lakepoint Condominium site among developers, we did not get a bid at the close of the collective sale tender, “ said Tracy Goh, PropNex’s head of investment and collective sales.

[Bigbluedot]

Time is bad. wrong timing.

[sgbuffett]

Can someone explain why would developers buy en bloc condos?

How does it work?

[Blin]

Can someone explain why would developers buy en bloc condos?

How does it work?

Bank loam is easy. money circulation is good .

[dynamite]

Lousy condo and location.expensive

[drgn]

greedy sellers. too expensive

[theold]

They will look at the location. If they do an enbloc, the residents will have more cash to move nearby. This will jack up the prices nearby. If someone already built another building nearby?

During these periods, our prices rise but those surrounding countries dropped. Our rentals rise but surrounding countries nearly drop by half.

[theold]

Sometimes, these are ways to jack up and set a base price for those properties there to sell.
We don't wish to wait for the enbloc, you and a few others can group together...

[cityhantam]

The owners are too greedy!

[WhatDoYouThink?]

2nd round without a bid means no developer interested. location lousy

[WhatDoYouThink?]

d15 now very hot. almost all new launches sold, a few more upcoming

[theold]

Usually the first step is to change the management.

[Stoki]

2nd round without a bid means no developer interested. location lousy

The environment not that good with dusty air and smell from nearby factory discharge.

Also too crowded over there with many lorries and private buses picking F workers there.

[Lukongsimi]

Can someone explain why would developers buy en bloc condos?

How does it work?

No land to build condos,rest are left for hdb bto.

Can build more units on plot n generates more profits

[WhatDoYouThink?]

fs no gd. surrounded by hiways and river and factories, not much amenity

[Lukongsimi]

Near to Chinese garden.

[revealer]

This condo has a very big plot of land except it has only a low plot ratio of 1.4.  It should sell well if the normal plot ratio of 2.5 is allowed.  There is no good reason for such a low plot ratio as Singapore is land-scarce and the surrounding condo developments have a plot ratio of 2.5.  There was a height restriction as it is in the vicinity of the Tengah airbase flight path but the condo managed to get it raised in this tender.

[[[ForeverAlone]]]

Braddell Heights so far like no news update.

Last known, there is one developer want to get it but later like no news update.

I feel the residents vote NO perhaps.


If I resident there also will vote NO. Braddell Heights location is very good. Next is big the unit.

[teaserteam]

This condo has a very big plot of land except it has only a low plot ratio of 1.4.  It should sell well if the normal plot ratio of 2.5 is allowed.  There is no good reason for such a low plot ratio as Singapore is land-scarce and the surrounding condo developments have a plot ratio of 2.5.  There was a height restriction as it is in the vicinity of the Tengah airbase flight path but the condo managed to get it raised in this tender.

The Condo land owner is JTC .  Landowner of surrounding condo development is Land Office.  JTC must have acquired the Condo land at PR of 1.4.  There is a potential to buy over the lease and pay a development charge to upgrade PR to 2.5.  May be the added cost is not attractive at the moment for the tender

[Levin]

Not that great a location. Nothing much around there.

The only good thing I can think of is the Jurong Park connector next to it that links to Lakeside Garden to the east which then links to Jurong Lake Park, Chinese Garden and Japanese Garden. To the west, the park connector goes to Jurong Central Garden and then Boon Lay MRT and Jurong Point. For people who like walking, I guess the place's ok as he/she will have to walk quite a bit to reach an area to buy anything.

[theold]

Last time, the HSR was to be built at Jurong East.

https://d33wubrfki0l68.cloudfront.net/f2...ewmapd.png

https://www.jld.gov.sg/

[revealer]

Not that great a location. Nothing much around there.

The only good thing I can think of is the Jurong Park connector next to it that links to Lakeside Garden to the east which then links to Jurong Lake Park, Chinese Garden and Japanese Garden. To the west, the park connector goes to Jurong Central Garden and then Boon Lay MRT and Jurong Point. For people who like walking, I guess the place's ok as he/she will have to walk quite a bit to reach an area to buy anything.

The MRT nearby is an advantage.  It used to be the only Condo nearest to the MRT when MRT was completed.  It is just a station away from Jurong Point and 2 stations away from 2nd City Centre,  Jurong East.   The last news about the HSR station lifted the housing prices in the area.  Guess there is still a potential for a sale in the future. 

Maybe the development is just too big & large for the present en bloc sale.  The smaller sized Lakeside Apartment further away from MRT was sold to WinTai with a plot ratio of 2.1.