The upcoming residential new launch condo development Lake Grande is poised to be Singapore’s premier destination for Waterfront living. Nestling beside the picturesque Jurong Lake, the homes here will be an epitome of luxurious, resort-style living.
Slated for completion in early 2020, this property has already generated quite a furor in the real estate industry. Aside from its location in the city’s fastest-growing commercial hub, Lake Grande is expected to offer its residents first-class amenities and condo facilities. Given that MCL Land is developing the site, expectations are high.
Let’s take a look at an overview of the numerous features of Lake Grande which I’ve gathered from marketing agents and whatever information is readily available online. Without a doubt, it does create an impressive list of positives that are sure to attract many home buyers, especially those with a penchant for the high life.
The Developer of Lake Grande
MCL Land Pte Ltd is a reputed property group that has been producing quality homes in Singapore and Malaysia for over 50 years. With a portfolio boasting of successfully completed projects such as The Calrose, Waterfall Gardens, The Estuary, [email protected] Avenue, Ripple Bay and not forgetting Lakeville (which is just on the next plot), etc, their name is synonymous with innovation and class.
Known for its visionary approach to home building, MCL Land has always undertaken development in strategic locations promising high asset appreciation. Combining years of business experience with the latest construction philosophies, this group has amassed numerous awards and a loyal consumer base.
With a trusted developer like MCL Land spearheading the project, there is little doubt that Lake Grande shall soon be a most coveted home address in times to come.
Lake Grande Location
The site for the development of Lake Grande condo at Jurong West Street 41 in Singapore’s District 22, also known as part of the Jurong Lake District. Such a location allows both vehicle owners and public transport users easy proximity to the rest of the city.
Major expressways such as Pan Island Expressway (PIE) and Ayer Rajah Expressway (AYE) connect to this area via arterial roads with short travel time. Feeder bus services, cab facilities and MRT connectivity through Lakeside MRT Station shall also be available just beyond the periphery of this residential complex.
For accessing all kinds of urban amenities too, homeowners will not have to venture far. For groceries, salons, movie theatres, banks, dining and shopping, arcades such as Jurong Point Shopping Centre, JEM, Taman Jurong Shopping Centre, Westgate, Hong Kah Point, and JCube are just a stone’s throw away.
For recreation and outdoor activities, the Jurong Lake Gardens right opposite the Lake Grande presents ample opportunity for sports and leisure. Educational institutions such as the Shuqun Primary School, Fuhua Secondary School, Canadian International School, and Jurong Junior College, all fall within 5 km radius of the Lake Grande homes as well.
Let’s also not forget that in times to come, Jurong Lake District shall become a bustling area where office complexes and commercial activity abounds. The nearby Jurong Gateway, presently known as the “CBD of the West”, has large plots of land allotted for construction of offices and entertainment and retail purposes.
By the time units at Lake Grande are up for possession, one can rest assured that the area will be the heart of thriving business and pleasure pursuits. Residents will have easy access to their respective workplaces as well as shopping and entertainment arcades.
Lake Grande Condo Facilities
The developers of Lake Grande promise future residents a decadent living environment and wide plethora on condo facilities. Each home is to be constructed in a manner optimizing space, natural lighting and ventilation.
The interiors are to be furnished with top quality fittings and tasteful decor. The kitchen and bathroom shall have the latest appliances and designer installment for users’ convenience.
In so far as condo facilities go, residents will have 5 themed activity areas at their disposal. The “Family Fun” Zone will feature several pools and water bodies for both children and adults.
There will be a Spa Cove, a children’s playground and a Maze Garden too. The “Wellness Bay” will offer wonderful amenities to the fitness enthusiast ranging from an indoor gym, an aqua gym and an exercise studio to a Mist Garden, Cardio Fitness Park, Foot Reflexology Walk and more.
The “Forest Dining” area will have an Italian Cut Bar, Teppanyaki Outdoor Dining, an Alfresco Cookout as well as a Dining Lawn. The “Rest Haven” on the 2nd storey of each tower will have a Wi-Fi pavilion, Fireflies Trail and outdoor lounging deck.
Finally, “The Aquarium” will have a set of luxurious luxuriant leisure spots including a lap pool, Clubhouse, numerous lounges and sunning decks too.
Apart from this range of resort facilities, residents will be allotted ample parking space. Their safety and convenience is further secured by virtue of 24-Hours manned entry/exit and prompt, round-the-clock Concierge services. When there are so many avenues of pleasure right within Lake Grande, residents will rarely care to stray afar for entertainment and leisure.
Lake Grande Floor Plans and Unit Types
According to the information released by MCL Land, Lake Grande is to have a total of 710 residential units spread across 4 towers of 17 storeys each. The various unit types available include:
- 1 Bedroom units covering 409 to 517 Square Feet.
- 2 Bedroom units covering 614 to 861 Square Feet.
- 3 Bedroom units covering 904 to 980 Square Feet.
- 4 Bedroom units covering 1152 to 1173 Square Feet.
- 5 Bedroom units covering 1302 Square Feet.
As is evident, Lake Grande has a wide range of accommodation options which shall complement the requirements of all kinds of homeowners.
Lake Grande Showflat Location
The showflat will be located along Jurong East Street 31. In the Lake Grande showflat, you will get to see the 1-Bedroom, 2-Bedroom, 2-Bedroom + Study and 3-Bedroom unit types on display.
Lake Grande Price Indication
As of 7 July 2016, the following is the Lake Grande price guide which we’ve received:
- 1-Bedroom (409-sqft) from S$580,000
- 2-Bedroom (614-sqft) from S$810,000
- 3-Bedroom (904-sqft) from S$1.18m
- 4-Bedroom (1152-sqft) from S$1.5m
- 5-Bedroom (1302-sqft) from S$1.69m
Whether if this price range is attractive or not, you can check out my personal review below.
Lake Grande Review
So, here we go again – the 3rd biggest new launch project under the Jurong Lake District in just about 3 years. Not only that, it’s by the same developer (again!). It does seem like MCL Land is looking to leverage on the same old “2nd Central Business District” pitch to monopolize the Jurong Lake District with its condo projects.
If you haven’t been counting, the developer MCL Land has already contributed a total of 2,144 private residential homes in Jurong in the last 3 years – which comprises of J Gateway (738 units) launched in 2013, Lakeville (696 units) in 2014 and the upcoming Lake Grande (710 units).
It’s certainly an ingenious strategy by the developer from a business point of view, selling 3 different projects using the same pitch and mostly the same selling points. And the best part? There will be buyers who are falling for them every single time.
So what’s new for Lake Grande?
Frankly, when I first looked at the artist impression of the Lake Grande facade, it does look similar to Lakeville – a replica. Perhaps the only bright side of getting a unit at Lake Grande is that it’s slightly closer to the Lakeside MRT Station as compared to its immediate neighbor Lakeville which is just next door.
What about pricing? Any difference between these two developments? Let’s take a look at a straight-up comparison between each unit type at these two condos (based on the lowest price).
|SIZE (SQ FT)||PSF (S$)||SIZE (SQ FT)||PSF (S$)|
For the 1-bedroom and 2-bedroom unit types, the pricing does seem fair enough for Lake Grande when compared to Lakeville – although they may not be as spacious. However, the pricing doesn’t seem right for the bigger units and in my opinion, they are clearly over-priced.
I smell a rat here… Hmmm…
It is really a no-brainer trying to guess what the property developer is doing here. To date, Lakeville does have a balance of approximately 10% of the 696 units available, and most of them are the bigger unit types.
In order to drive sales (by creating a “bargain” effect on buyers), it looks like MCL Land is trying to make the balance units at Lakeville look like a “steal” to prospects when compared straight up with Lake Grande.
So when Lakeville has sold all of its units, the only choices left for buyers (who are looking for bigger units) are the only the ones at Lake Grande. And they probably have to put up with that extra premium if the developer chooses to be firm on their prices.
As a result, it will create a perfect win-win situation for the developer; Selling off the balance stocks fast and create demand for their newer project. Pretty much like a trap, but it’s definitely an ingenious sales/marketing strategy! I am quite sure not many property buyers will see it this way.
I mean come on, even the Lake Grande showflat is focusing on showing buyers mainly the smaller unit types, which clearly reflects the developer’s intention.
But then again, is Lake Grande even a worthy buy? Let us go back to the basics and compare its price with the other neighboring condos (the slightly newer ones of course), for transactions recorded since July 2015.
|PROJECT||TENURE||COMPLETION||NO. OF UNITS||NO. OF TRANSACTIONS||AVERAGE PSF (S$)|
From the comparison above with the Lake Grande price guide, this new Lakeside condo looks to set a new record price in the area. For $1,3xx psf, you can seriously find something even closer to the city with an MRT station right next to the condo.
If you are looking at this like I do, you can see an opportunity being presented at Caspian (nearer to Lakeside MRT station and at a lower PSF). Check out the past transactions at Caspian from URA, and you can see a good number of units have been transacted at PSF level lower than S$1,000 psf.
Look at it this way; if you were to get a unit today at Caspian for S$1,000 psf, do you think it’s possible to sell it off at $1,150 psf 5 years down the road (especially when you start to see more of the Jurong Lake District development)?
Assuming it’s just that S$150 psf profit which you want to make, it will also mean that a unit at Lakeville or Lake Grande will have to be sold at a minimum $1,400 psf mark.
$1,400 psf for a condo in Jurong – if you are a buyer then, do you think you will want to pay for that price? I’ll probably look elsewhere.
But without a doubt, some of the features in Lake Grande are quite alluring and other reasons why Lake Grande shall be a great choice for residency in Singapore. This development does offer a wholesome living environment that is beautiful, open and green – suitable to the prerogatives of adults and children, families as well as couples/singles.
And being located in an up and coming developmental area, there is likely to be a steady appreciation of property assets in the future after the plans for Jurong Lake District have materialized. But the risk is still rather high when you look at the PSF price and demand in the area. If money wasn’t the issue and you really love this precinct, then why not?