En bloc offers for Lakeside Towers fall short of S$350 million reserve price

OWNERS at Jurong condominium Lakeside Towers will move into private treaty negotiations with potential buyers, following the closing of the collective sale tender on Wednesday (Apr 12). 

There were formal submissions and expressions of interest from local developers, but even the “best offer” fell short of the reserve price, sole marketing agent JLL told The Business Times. 

Located a stone’s throw from Jurong Lake Gardens, near the upcoming Jurong Lake District (JLD), the 144-unit condominium was put up for sale at S$350 million on Feb 9. This is 14.8 per cent higher than its 2018 reserve price of S$305 million.