Laguna Park has launched enbloc tenders a total of 4 times — in 2007, 2010, 2018 and 2019. The most recent attempts in 2018 and 2019 were derailed by the July 2018 cooling measures. The reserve price was $1.48 billion which translates to a land rate of $1,231 per square foot per plot ratio (psf ppr).
This rate takes into account an additional differential premium estimated at $407.4 million for intensification of the site to a plot ratio of 2.8 under the Urban Redevelopment Authority’s (URA) 2014 Master Plan, as well as a lease top-up premium of about $420.7 million.
Laguna Park comprises seven blocks of 516 residential units and 12 commercial units, with a site area of about 62,200 sq m. Under the 2014 Master Plan, the site is zoned as “residential” with a gross plot ratio of 2.8, and can yield about 1.87 million sq ft of gross floor area upon redevelopment.
LAGUNA PARK | LAGOON VIEW | NEPTUNE COURT
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Mike Tan | CEA Regn R059706Z | 98280030