The development sits on a 134,177 sq ft land parcel with a 99-year lease from March 1977. The site has a gross plot ratio of 2.1, based on the 2019 Master Plan and can potentially be redeveloped into a new 24-storey residential building with 307 condominium units with average unit size of 915 sq ft each.
Based on the reserve price and after factoring the lease top-up premium and development charge, the price works out to $1,077 psf per plot ratio , according to PropNex, the marketing agent handling the collective sale.is located next to Jurong Lake Gardens, near the Lakeside MRT station on the East-West Line. Amenities close by include malls such as JCube, JEM, Westgate, IMM and Jurong Point.
In addition, Lakeside Apartments is close to the Jurong Lake District , earmarked as Singapore’s second central business district, as well as the Jurong Innovation District industrial hub. The Jurong precinct is undergoing significant transformation, with the Jurong East integrated transport hub slated to open in 2027. The Singapore Tourism Board has also launched a request for proposals to develop and operate an integrated tourism development at JLD which could be completed from 2028.
“With the ongoing transformation of Jurong, we will likely see more firms relocating there, driving a surge in job creation in the area,” says Tracy Goh, head of investment and collective sales at PropNex Realty. “Jurong has a strong pent-up demand for new homes as there have been limited private residential project launches in recent years,” she adds.Despite the new cooling measures rolled out last December, demand for private condo from HDB upgraders remains robust, according to Goh.