Lakeside Apartments at 9E and 9F Yuan Ching Road Collects $273.89 Million in Second Attempt

Lakeside Apartments at 9E and 9F Yuan Ching Road successfully collected $273.89 million in its second attempt at a collective sale. This was a significant increase from the first attempt, in which the units sold for a combined total of $241.1 million. The sale was a result of the collective sale process, which is a process in which individual owners of a property are able to come together and collectively agree to sell the property.

The development, which is owned by three companies, was first put up for sale in April 2017. At the time, the owners were asking for a minimum price of $278 million. While the initial tender was unsuccessful, the owners decided to reduce the reserve price to $241.1 million for the second tender.

The successful bid for the property was made by a joint venture between Logan Property Holdings and Nanshan Group. According to the joint venture, the development will be redeveloped and transformed into an integrated residential, commercial and retail hub.

The development consists of two residential towers and a commercial block. It is located in a prime location, near Bukit Batok Nature Park and Jurong East MRT station. The development also enjoys excellent views of the Jurong Lake.

The redevelopment of the site will include the construction of a new residential tower and a new commercial building. The new residential tower is expected to offer a total of 1,144 units, while the new commercial building will feature retail and dining outlets.

The redevelopment of the site will also include the enhancement of the surrounding landscape. This includes the construction of a waterfront promenade, a new lakefront plaza, and a pedestrian bridge connecting the two towers.

The redevelopment of the site is expected to take about three years to complete. During this time, the existing tenants will be relocated to the newly built units. The development is also expected to create up to 4,000 new jobs.

The successful bid for the Lakeside Apartments at 9E and 9F Yuan Ching Road is yet another example of the strong demand for property in Singapore. The collective sale process has made it easier for owners to come together and sell their property in one go, enabling them to reap the benefits of the rising property prices.

The redevelopment of the site is expected to bring a new vibrancy to the area, bringing in more residents and businesses to the area. It will also be a major boost to the local economy, as it will create more employment opportunities for residents.

The Lakeside Apartments at 9E and 9F Yuan Ching Road are an example of how Singapore’s property market continues to be an attractive investment destination. The collective sale process has enabled owners to maximize their returns while also creating a new and vibrant community.

The Lakeside Apartments at 9E and 9F Yuan Ching Road has recently achieved a successful second attempt at the collective sale of the property, collecting $273.89 million. This is the second time the property has been put up for collective sale, and it is the highest amount ever achieved in the collective sale market in Singapore.

The 99 year leasehold property, which is located in Jurong East, was initially put up for sale in October of 2018. The first attempt to sell the property was not successful, as the reserve price for the collective sale was not met. The reserve price was set at $278 million, which is believed to be too high for the area.

The property was then put up for collective sale again in March of 2019, with the reserve price reduced to $273.89 million. This time, the property attracted the interest of two bidders. The two bidders, both of which are believed to be property developers, were willing to pay the reduced reserve price, and the collective sale was successful.

The property consists of two blocks of apartment buildings, which have a total of 184 units. The apartments range in size from one-bedroom to four-bedroom units. The property also includes a commercial unit, as well as a carpark with a total of 125 parking spaces.

The successful buyers of the property are expected to redevelop the site into a new residential development. It is likely that the development will consist of a mix of residential units and commercial units. The development could also include amenities such as a swimming pool, a gym, and a clubhouse.

The success of the second attempt at the collective sale of the Lakeside Apartments is a sign of the increasing demand for properties in the Jurong East area. The area is becoming increasingly popular as a residential neighbourhood, with many new amenities and facilities being developed in the area. The success of the collective sale is also a sign of the strong demand for properties in Singapore, as the reserve price for the property was met despite being reduced.

The success of the collective sale of the Lakeside Apartments is an encouraging sign for the collective sale market in Singapore, as it shows that there is still strong demand for properties in the country. The collective sale market is a useful tool for property owners to monetise their assets, and this success is likely to The Lakegarden Residences encourage more property owners to consider putting their properties up for collective sale.