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31-08-16, 10:17
https://propertysoul.com/2016/08/31/about-lake-grande/
What is so ‘grande’ about Lake Grande?
August 31, 2016
https://propertysoul.files.wordpress.com/2016/08/imag1145.jpg
During the first weekend launch, MCL Land managed to sell 436 units or 60 percent of 710 units at Lake Grande. Buyers paid an average price of $1,368 psf for the units. Singaporeans accounted for 17 out of every 20 buyers.
Two weeks later on National Day, the developer has moved a total of 470 units. Sales has slowed down significantly since then. According to the URA records, 483 units or 68 percent were sold as of today.
The sales performance is a far cry from MCL Land’s launch of the 738-unit J Gateway on 28 June 2013, when buyers jumped on the Jurong Lake District bandwagon and submitted 1,400 blank cheques for balloting. The project was sold out on the first day of launch with the ‘lucky ones’ forked out $1,400 to $1,800 psf for their units – only to have the government’s Total Debt Servicing Ratio thrown in their face on the same evening.
(Lesson learned: Next time remember to call an acquaintance who works in the relevant government department before taking the plunge.)
However, the results are still better than another Jurong Lake project next to Lake Grande, also by MCL Land. On the first day of launch in April 2014, the developer only managed to move 180 out of 696 units in Lakeville at an average price of $1,300 psf.
What is the hype about Jurong Lake District?
During the National Day Rally, our Prime Minister mentioned Jurong Lake Gardens and the new Science Centre in the new Jurong Lake District.
If you can still recall, it was also in his 2014 National Day Rally that PM Lee first showcased ‘Jurong Lake at sunset’.
Two years on, what have we completed for the Jurong Lake District plan?
Let’s go back to the time when the project was first announced with the draft Master Plan 2008. So we can at least say that the Jurong Gateway part, one out of the three precincts, , is more or less done, leaving only the Lakeside and the Lakeside Gateway targeted to complete beyond 2020.
By then, there should be three Jurong Lake Gardens and the New Science Centre. On the side of the Jurong Gateway, we can expect the Lakeside Village (for F&B, retail and hotel), a second Central Business District, and a High Speed Rail Terminus to Kuala Lumpur by the year 2026.
https://propertysoul.files.wordpress.com/2016/08/jurong-lake-district.jpg
Will properties inside the Jurong Lake District command high prices in the future? The answers are in my old blog post “Is Jurong Lake District the next hotspot for property hunting?” (https://propertysoul.com/2014/08/22/is-jurong-lake-district-the-next-hotspot-for-property-hunting/)
What’s wrong with the project location?
The sales gallery of Lake Grande is located at Jurong East Street 31 and a short distance away from Chinese Garden MRT. But the actual site is in between Boon Lay Way and Jurong West Street 41. The entrance is on a side road known as Jurong Lake Link. It takes only 5 minutes’ walk to the Lakeside MRT station.
https://propertysoul.files.wordpress.com/2016/08/lake-grande_map.jpg
The 17-storey project overlooks the scenic Jurong Lake. However, the artist’s impression of ‘where stunning lake views surround you’ stated in the sales brochure has conveniently missed the MRT track and the busy two-way three-lane traffic along Boon Lay Way which are standing in the way of the stunning lake view.
In other words, units facing the lake will have a tradeoff between a fantastic view from the lake and the air/noise pollution from the vehicles.
The neighboring project The Lakeshore is built on top of a multi-storey carpark, with units on the lowest floor just above the MRT track.
For Lake Grande, it will be an underground carpark. According to the property agent, the project will be built one to two metres above the ground. That means units on lower floors may have the potential to be below or on the same level of the MRT track, with owners seeing the traffic or trains rather than the lake view.
What is not so ‘grande’ in Lake Grande?
Buyers like me can’t help but wonder what the word ‘Grande’ means in the project name Lake Grande. We know it means large in Italian. Perhaps it implies the vast Jurong Lake or the 360-hectare Jurong Lake District. Or someone from MCL Land simply likes Ariana Grande.
But it definitely has nothing to do with size and space of the project.
https://propertysoul.files.wordpress.com/2016/08/imag1152.jpg
1. Space not enough
1-bedroom unit is 409 sq ft and 614 sq ft is already a 2-bedroom unit. 3 bedrooms have to fit inside 904 sq ft.
Mind you, the sizes above include the big balconies and aircon ledges which leave even smaller actual usable area in the units.
If owners are targeting the expatriates sending their kids to the Canadian International School nearby as tenants, the unit size must be over 1,000 sq ft to make it a decent living space for a family. That leaves only 51 units for the 4 and 5-bedroom units which can just fit the bill.
Despite being a 9-year-old project, units of the neighboring project The Lakeshore are obviously more spacious than those in Lake Grande – with 2-bedrooms above 900 sq ft and 3-bedrooms above 1,100 sq ft.
Above all, there is no balcony in this project. And units are selling at just above $1,000 psf. The Lakeshore sounds a better buy in terms of both price psf and ‘quality of the square foot’.
Even Lakeville which will be TOP next year comes with more spacious units and are selling at an average price of $1,250 psf.
2. Carpark lots not enough
Lake Grande is a big project with 710 units. But the underground carpark only offers 568 lots. Only 80 percent of residents are entitled to one carpark lot.
So do we expect the rest of the 142 owners and other family members of the 568 units to take trains, buses or boat across the Jurong Lake to get to school or work?
3. Finishing not good enough
Although the sales brochure mentions ‘quality finishing and top-of-the-line fittings’ for a ‘luxurious home’. The living rooms have marble look-alike homogeneous tiles instead of marble flooring. Bedroom floors are laid with laminated timber flooring rather than parquet flooring.
https://propertysoul.files.wordpress.com/2016/08/imag1160.jpg
https://propertysoul.files.wordpress.com/2016/08/imag1162.jpg
Bathtub is absent in this project. There is also no utility area in all the 1 and 2-bedroom units. Expect to air wet laundry in the balcony.
4. Distance not long enough
The property agent claimed that the block-to-block distance between The Lakeshore and Lake Grande is 30 metres while the block-to-block distance between Lakeville and Lake Grande is 40 metres.
He may be too optimistic.
https://propertysoul.files.wordpress.com/2016/08/img-20160809-wa008.jpg
An examination of the actual site shows that the construction site of Lake Grande is at most 15 metres away from the nearest block in Lakeville.
Given that MCL Land has placed the top bid for the Jurong West site at S$338.12 million or S$630.13 psf, the developer has all the reasons to maximize the site to build as many units as possible.
To preserve your privacy, avoid buying units on the far left and far right of the project.
Which are the best units and layouts?
There are 42 different units in four blocks (Block 2, 6, 8 and 10). Almost all the units in Lake Grande are northeast or southwest facing.
https://propertysoul.files.wordpress.com/2016/08/sitemap.jpg
1. Units with west sun
– Avoid units 9 and 19 which have direct west sun in living room and all the bedrooms.
– The balcony of units 29, 30, 40 and 41 face west sun.
2. Units facing inside
– Beware of the distance with the opposite block. There is a lack of privacy as units overlook each other at a close distance.
– Units affected are 1, 2, 3, 12, 13, 27, 28, 29, 38, 39 and 40.
3. Units facing outside
– Avoid unit 8 and 18 which are too close to the street with heavy traffic from Boon Lay Way.
– Avoid units facing the back in block 8 and 10 which face HDB blocks along Jurong West Street 41 and have no view.
– Avoid unit 23 and 24 for the tennis court and ‘Main Distribution Frame’.
– By all means avoid unit 34. Opposite is the rubbish collection centre which is next to the substation and genset.
– Also there is a childcare centre on the ground floor of unit 34. Expect some noises during school open and dismissal time.
4. Best unit of the project
My choice is the 2-bedrooms on unit 14 (despite the inauspicious number) for the following reasons:
– The living rooms and bedrooms are south facing and with unobstructed view.
– Can choose units on higher floors overlooking the Jurong Lake yet are a considerable distance away from Boon Lay Way.
5. Best layouts of the project
The biggest problem of layouts in Lake Grande is the big balconies and aircon ledges that make the already tiny units even smaller.
Buyers are advised to pick layouts with no balcony for the bedrooms in order to enjoy more usable space in their units, for instance, layout B3 and B4 of 2-bedrooms and layout C3 of 3-bedrooms.
What is the final verdict?
Let me bring back the PCS (Property Club Singapore) Rating System to have a fair evaluation of the Lakeside Grande according to the 7 important criteria.
https://propertysoul.files.wordpress.com/2016/08/lake-grande-pcs.jpg
A final piece of advice: There is no lack of condominium projects in Lakeside. Lake Grande won’t obtain TOP until year 2019 or 2020. The Jurong Lake District will complete beyond 2020. High Speed Rail won’t be ready until 2026. From now till then, take your time to take your pick.
Visit the Facebook page of Property Club Singapore for more pictures of the Lake Grande construction site and show suites. Don’t forget to Like us on Facebook!
What is so ‘grande’ about Lake Grande?
August 31, 2016
https://propertysoul.files.wordpress.com/2016/08/imag1145.jpg
During the first weekend launch, MCL Land managed to sell 436 units or 60 percent of 710 units at Lake Grande. Buyers paid an average price of $1,368 psf for the units. Singaporeans accounted for 17 out of every 20 buyers.
Two weeks later on National Day, the developer has moved a total of 470 units. Sales has slowed down significantly since then. According to the URA records, 483 units or 68 percent were sold as of today.
The sales performance is a far cry from MCL Land’s launch of the 738-unit J Gateway on 28 June 2013, when buyers jumped on the Jurong Lake District bandwagon and submitted 1,400 blank cheques for balloting. The project was sold out on the first day of launch with the ‘lucky ones’ forked out $1,400 to $1,800 psf for their units – only to have the government’s Total Debt Servicing Ratio thrown in their face on the same evening.
(Lesson learned: Next time remember to call an acquaintance who works in the relevant government department before taking the plunge.)
However, the results are still better than another Jurong Lake project next to Lake Grande, also by MCL Land. On the first day of launch in April 2014, the developer only managed to move 180 out of 696 units in Lakeville at an average price of $1,300 psf.
What is the hype about Jurong Lake District?
During the National Day Rally, our Prime Minister mentioned Jurong Lake Gardens and the new Science Centre in the new Jurong Lake District.
If you can still recall, it was also in his 2014 National Day Rally that PM Lee first showcased ‘Jurong Lake at sunset’.
Two years on, what have we completed for the Jurong Lake District plan?
Let’s go back to the time when the project was first announced with the draft Master Plan 2008. So we can at least say that the Jurong Gateway part, one out of the three precincts, , is more or less done, leaving only the Lakeside and the Lakeside Gateway targeted to complete beyond 2020.
By then, there should be three Jurong Lake Gardens and the New Science Centre. On the side of the Jurong Gateway, we can expect the Lakeside Village (for F&B, retail and hotel), a second Central Business District, and a High Speed Rail Terminus to Kuala Lumpur by the year 2026.
https://propertysoul.files.wordpress.com/2016/08/jurong-lake-district.jpg
Will properties inside the Jurong Lake District command high prices in the future? The answers are in my old blog post “Is Jurong Lake District the next hotspot for property hunting?” (https://propertysoul.com/2014/08/22/is-jurong-lake-district-the-next-hotspot-for-property-hunting/)
What’s wrong with the project location?
The sales gallery of Lake Grande is located at Jurong East Street 31 and a short distance away from Chinese Garden MRT. But the actual site is in between Boon Lay Way and Jurong West Street 41. The entrance is on a side road known as Jurong Lake Link. It takes only 5 minutes’ walk to the Lakeside MRT station.
https://propertysoul.files.wordpress.com/2016/08/lake-grande_map.jpg
The 17-storey project overlooks the scenic Jurong Lake. However, the artist’s impression of ‘where stunning lake views surround you’ stated in the sales brochure has conveniently missed the MRT track and the busy two-way three-lane traffic along Boon Lay Way which are standing in the way of the stunning lake view.
In other words, units facing the lake will have a tradeoff between a fantastic view from the lake and the air/noise pollution from the vehicles.
The neighboring project The Lakeshore is built on top of a multi-storey carpark, with units on the lowest floor just above the MRT track.
For Lake Grande, it will be an underground carpark. According to the property agent, the project will be built one to two metres above the ground. That means units on lower floors may have the potential to be below or on the same level of the MRT track, with owners seeing the traffic or trains rather than the lake view.
What is not so ‘grande’ in Lake Grande?
Buyers like me can’t help but wonder what the word ‘Grande’ means in the project name Lake Grande. We know it means large in Italian. Perhaps it implies the vast Jurong Lake or the 360-hectare Jurong Lake District. Or someone from MCL Land simply likes Ariana Grande.
But it definitely has nothing to do with size and space of the project.
https://propertysoul.files.wordpress.com/2016/08/imag1152.jpg
1. Space not enough
1-bedroom unit is 409 sq ft and 614 sq ft is already a 2-bedroom unit. 3 bedrooms have to fit inside 904 sq ft.
Mind you, the sizes above include the big balconies and aircon ledges which leave even smaller actual usable area in the units.
If owners are targeting the expatriates sending their kids to the Canadian International School nearby as tenants, the unit size must be over 1,000 sq ft to make it a decent living space for a family. That leaves only 51 units for the 4 and 5-bedroom units which can just fit the bill.
Despite being a 9-year-old project, units of the neighboring project The Lakeshore are obviously more spacious than those in Lake Grande – with 2-bedrooms above 900 sq ft and 3-bedrooms above 1,100 sq ft.
Above all, there is no balcony in this project. And units are selling at just above $1,000 psf. The Lakeshore sounds a better buy in terms of both price psf and ‘quality of the square foot’.
Even Lakeville which will be TOP next year comes with more spacious units and are selling at an average price of $1,250 psf.
2. Carpark lots not enough
Lake Grande is a big project with 710 units. But the underground carpark only offers 568 lots. Only 80 percent of residents are entitled to one carpark lot.
So do we expect the rest of the 142 owners and other family members of the 568 units to take trains, buses or boat across the Jurong Lake to get to school or work?
3. Finishing not good enough
Although the sales brochure mentions ‘quality finishing and top-of-the-line fittings’ for a ‘luxurious home’. The living rooms have marble look-alike homogeneous tiles instead of marble flooring. Bedroom floors are laid with laminated timber flooring rather than parquet flooring.
https://propertysoul.files.wordpress.com/2016/08/imag1160.jpg
https://propertysoul.files.wordpress.com/2016/08/imag1162.jpg
Bathtub is absent in this project. There is also no utility area in all the 1 and 2-bedroom units. Expect to air wet laundry in the balcony.
4. Distance not long enough
The property agent claimed that the block-to-block distance between The Lakeshore and Lake Grande is 30 metres while the block-to-block distance between Lakeville and Lake Grande is 40 metres.
He may be too optimistic.
https://propertysoul.files.wordpress.com/2016/08/img-20160809-wa008.jpg
An examination of the actual site shows that the construction site of Lake Grande is at most 15 metres away from the nearest block in Lakeville.
Given that MCL Land has placed the top bid for the Jurong West site at S$338.12 million or S$630.13 psf, the developer has all the reasons to maximize the site to build as many units as possible.
To preserve your privacy, avoid buying units on the far left and far right of the project.
Which are the best units and layouts?
There are 42 different units in four blocks (Block 2, 6, 8 and 10). Almost all the units in Lake Grande are northeast or southwest facing.
https://propertysoul.files.wordpress.com/2016/08/sitemap.jpg
1. Units with west sun
– Avoid units 9 and 19 which have direct west sun in living room and all the bedrooms.
– The balcony of units 29, 30, 40 and 41 face west sun.
2. Units facing inside
– Beware of the distance with the opposite block. There is a lack of privacy as units overlook each other at a close distance.
– Units affected are 1, 2, 3, 12, 13, 27, 28, 29, 38, 39 and 40.
3. Units facing outside
– Avoid unit 8 and 18 which are too close to the street with heavy traffic from Boon Lay Way.
– Avoid units facing the back in block 8 and 10 which face HDB blocks along Jurong West Street 41 and have no view.
– Avoid unit 23 and 24 for the tennis court and ‘Main Distribution Frame’.
– By all means avoid unit 34. Opposite is the rubbish collection centre which is next to the substation and genset.
– Also there is a childcare centre on the ground floor of unit 34. Expect some noises during school open and dismissal time.
4. Best unit of the project
My choice is the 2-bedrooms on unit 14 (despite the inauspicious number) for the following reasons:
– The living rooms and bedrooms are south facing and with unobstructed view.
– Can choose units on higher floors overlooking the Jurong Lake yet are a considerable distance away from Boon Lay Way.
5. Best layouts of the project
The biggest problem of layouts in Lake Grande is the big balconies and aircon ledges that make the already tiny units even smaller.
Buyers are advised to pick layouts with no balcony for the bedrooms in order to enjoy more usable space in their units, for instance, layout B3 and B4 of 2-bedrooms and layout C3 of 3-bedrooms.
What is the final verdict?
Let me bring back the PCS (Property Club Singapore) Rating System to have a fair evaluation of the Lakeside Grande according to the 7 important criteria.
https://propertysoul.files.wordpress.com/2016/08/lake-grande-pcs.jpg
A final piece of advice: There is no lack of condominium projects in Lakeside. Lake Grande won’t obtain TOP until year 2019 or 2020. The Jurong Lake District will complete beyond 2020. High Speed Rail won’t be ready until 2026. From now till then, take your time to take your pick.
Visit the Facebook page of Property Club Singapore for more pictures of the Lake Grande construction site and show suites. Don’t forget to Like us on Facebook!