Lakeside Apartments to be relaunched for en bloc sale with possible lower reserve price

LAKESIDE Apartments will be relaunching for collective sale by public tender on Jan 30, with its reserve price possibly being lowered to S$205 million from S$240 million.

The effort to garner a fresh 80 per cent support from owners is still ongoing. The support level on the new reserve price is currently at 70 per cent, said marketing agent SLP International.

With the new reserve price, the land rate would be about S$939 per sq ft per plot ratio (psf ppr) after taking into account the lease extension premium, differential premium, possible bonus balcony and the 5 per cent additional buyer's stamp duty (ABSD) introduced last July.

Earlier on Tuesday, JLL said that Gilstead Court in the Novena-Newton enclave has been relaunched for sale by tender, with the Collective Sale Committee (CSC) proposing to lower the reserve price from S$168 million to S$153 million.

Lakeside Apartments along Yuan Ching Road is located within the Jurong Lake District, minutes away from Lakeside MRT station, and has a full unblocked view of the Jurong Lake.

The land size is 12,465 square metres and there are currently 120 units with the same built-in size.

The tender will close on Feb 27 at 3pm.