En Bloc Sale Set for Jurong West’s Lakeside Apartments

Greetings, readers! Have you heard the news? The Lakeside Apartments in Jurong West is currently up for en-bloc sale at a massive $240 million! This property, which is located just beside the beautiful Jurong Lake, has been a beloved home to numerous residents since its construction in the 1970s. However, its current owners have recently expressed their desire to sell the property and make way for new developments. The sale of Lakeside Apartments marks an exciting opportunity for investors and developers alike, as they seek to shape the future of Jurong West. So let’s take a closer look at what this means for the area and what we can expect from this transaction.

Lakeside Apartments up for En Bloc Sale

The Lakeside Apartments, a 120-unit residential property located in Jurong West, have been put up for en bloc sale at a reserve price of $240 million. This is the second time the property has been put up for sale at the same reserve price, with the first attempt in 2019 being unsuccessful. The property is located close to the Jurong Lake District, Singapore’s second Central Business District, making it an attractive potential development opportunity for buyers. Despite pandemic challenges, the property market in Singapore continues to thrive, making this a promising opportunity for interested parties.

Property includes 120 residential units

Lakeside Apartments, a 120-unit residential property located in Jurong West, has been put up for en bloc sale at a reserve price of $240 million. The property offers great potential for development opportunity, making it a highly attractive investment for potential buyers. Despite the pandemic challenges, the property market in Singapore continues to thrive, making it an opportune time for property investments. The 99-year leasehold project offers 120 residential units with easy accessibility to nearby amenities, including the Jurong Lake Gardens and the Jurong Lake District, making it an ideal location for those seeking a comfortable and convenient living experience.

Potential Development Opportunity for Buyer

With the upcoming en bloc sale of Lakeside Apartments in Jurong West, developers are presented with a potential opportunity to create a new landmark residential project in a prime location by the Jurong Lake. The property offers 120 residential units on a 134,177 sq ft land parcel with a 99-year lease, and a gross plot ratio of 2.1, making it an attractive site for developers. Despite the challenges brought about by the pandemic, the property market in Singapore continues to thrive, and this opportunity is a testament to that fact. With a reserve price of $240 million, this en bloc sale presents a rare and exciting opportunity for developers to secure a prime location for their next project.

Property Market in Singapore Continues to Thrive Despite Pandemic Challenges

Despite the challenges posed by the pandemic, the property market in Singapore is showing signs of resilience, as seen in the latest en bloc sale of Lakeside Apartments in Jurong West. This 120-unit residential property has been put up for sale at a reserve price of $240 million, which highlights the continued demand for real estate in the city-state. With the potential development opportunity for the buyer, this sale is expected to attract keen interest from developers and investors alike. Despite the ongoing pandemic, it is encouraging to note that the property market in Singapore is still thriving and this bodes well for future investments in the sector.