Lakeville Review

Project:Lakeville Review
District:22
Region:Outside Central Region (OCR)
Address:Jurong West Street 41
Tenure:99 Year Leasehold
Site Area:240,654 sqft
No. of Units:695
Expected T.O.P:2018
Developer:MCL Land Ltd
PSF ($):1250 - 1350
Information to Note

Latest Update (05/04/14): Business Times report 180 Lakeville units sold out of 200 released on 4 April 2014.  

Following the very successful launch of J Gateway (edit: $1,480 psf average) next to Jurong East MRT, MCL Land Ltd is launching the Lakeville project at Jurong West Street 41 along Boon Lay Way in March/April 2014. Comprising six 16-stories blocks, this project will be sure to attract keen interest from buyers looking to buy into the Jurong region. Pricing details (Read on in our Pricing details section) have been released and seem attractive enough.

The showflat was very very crowded on our day of visit on the first day of opening. We apologize in advance for the showroom photos. There were simply too many people to take too many decent photos. Scene at Lakeville showroom at Jurong East Central on first day of opening:

Links to the URA Draft Masterplan 2013 for the Western region of Singapore and http://www.ura.gov.sg/sales/JEast-St13/JLD-brochure.pdf for URA plans for Jurong Lake District. These are extremely useful for an overview of the development of Jurong Lake District and the western region of Singapore in general.

If you would like to purchase a unit at the Lakeville development through our ProperSquare team after reading our review, or you have a question that we have not answered in our review, do drop us a call/SMS at 9081-5456 or email us at contactus@propersquare.com and we will get in touch with you shortly.

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External (Location)

The Jurong Lake District will feature two distinct but complementary precincts

-          Jurong Gateway

-          Lakeside

Lakeville, as the name suggests, will be located at the Lakeside district. Detailed URA brochure information here. http://www.ura.gov.sg/sales/JEast-St13/JLD-brochure.pdf  Under the current development plans, the Lakeside district will ‘feature new parks, improved promenades, more water activities and numerous attractions blended in with the scenic lakeside setting’. A new Science Centre will be built next to Chinese Graden MRT as well, though that project is currently delayed. 

Located at the north-western edge of the Jurong Lake District near to Lakeside MRT station, Lakeville is a five to seven minutes walk (roughly 500m) to Lakeside MRT station using Boon Lay Way.

 

Amenities

There are plenty of amenities in the area, considering that this part of Jurong is very mature and developed.

There are a few businesses across the road at Jurong West Street 41. These include some small provision shops and a few mom and pop shops at the HDB blocks’ void decks.

For most of your daily needs, the nearest amenities are located along Jurong West Street 41 at the Blk 498 and Blk 492 area, which is roughly a 200m to 300m walk away via the Jurong West Street 41 exit. Here, you can find a NTUC supermarket, a wet market, many food courts, DBS and OCBC bank branches, a Post Office, clinics, and many many mom and pop shops which should serve your daily needs well, albeit not in the air conditioned comfort of a mall.

At Jurong Green Community Centre, you can also find a Macdonald’s and Domino’s Pizza restaurant outlet to satisfy your fast food cravings!

Using the Boon Lay Way exit, one bus stop away towards Chinese Garden MRT, you can find many more amenities along the shop-houses at Jurong East Street 31. There are many food places in the form of several coffee shops and the Yuhua Place Market and Food Centre as well.

Map showing major amenties centres nearby Lakeville in red rectangles:

You will definitely not be disappointed by the amenities available in the area. In fact, we would venture to say there is almost nothing to fault in terms of amenties available! And if you find the amenities insufficient, you can always take a short trip to Jurong East where there are currently four shopping malls (IMM, JEM,, JCube and Westgate) which should fulfil 99% of all of your needs. Jurong Point Shopping Mall at Boon Lay, one of the largest suburban mall in Singapore, is also one short MRT stop away.

The Ng Teng Fong General Hospital located at Jurong Gateway  is also slated to open its doors in 2014 as well. Run by Jurong Health, the hospital will comprise of 700 beds and be paired with the 400-bed Jurong Community Hospital. Any medical needs or emergencies should be well taken care of at these new hospitals.

 

Schools

Located next door to the Canadian International School and Fuhua Secondary school, Lakeville residents will have no lack of schools to send their kids to.

Prestigious brand name schools such as Rulang Primary School (Jurong West St 52; within 1km), Nan Hua High School (Clementi) and River Valley School (Boon Lay) are a short travelling distance away for parents anxious to get their kids into top  schools.  

Full list of Schools in vicinity:

  • Jurong Primary School
  • Rulang Primary School
  • Shuqun Primary School
  • Fuhua Secondary School
  • Hua Yi Secondary School
  • Hong Kah Secondary School
  • Hua Yi Secondary School
  • Jurongville Secondary School
  • River Valley High School (Integrated Programme)
  • Yuan Ching Secondary School
  • Yu Hua Secondary School
  • Jurong Junior College

There are no lack of schools in the area and with several brand name schools within 30 minutes of travel ling time, parents should have no worries about their kids getting a quality education.

 

Public Transport

There are only two buses serving the immediate area currently.  Bus service 49 will bring residents straight to Lakeside MRT station in 4 stops. Taking Bus service 335 from the bus stop in front of the Canadian International School will bring residents to Chinese Garden MRT in 2 stops or Jurong East Interchange in 7 stops if you would prefer to not do a transfer to the MRT network.

Bus No.

From/To

Bus Frequency

Areas served

49

Taman Jurong Terminal (Loop)

9 - 14 mins

Jurong West Region

335

Jurong East Int (Loop)

7 – 15 mins

Jurong East, Jurong West

Do note that these buses travel in one direction only (loop service) along Jurong West Street 41 and Boon Lay Way which means they will bring you quickly to Lakeside/Chinese Garden MRT, BUT on the way back to the Lakeville, you will be able to take 335 from Chinese Garden MRT only.

Once at Lakeside MRT, it will take around 25 minutes to reach Outram Park Interchange and 30 minutes to City hall Interchange. This is the Jurong region after all, so do not expect blazing fast travel times to the city centre. In the other direction, the East-west Line Tuas extension is expected to be operational by 2016 and enable commuters to travel straight to the Tuas industrial area using the MRT instead of the relying heavily on private transport and shuttles currently. The very same MRT trains that will bring commuters to the city centre will also pass right in front of Lakeville. This could be a negative for some buyers if you are sensitive to noise as sound from the train tracks will definitely travel to the Lakeville, in particular the side facing Jurong Lake.

Overall, public transport is still at an acceptable level, though the claim that both Lakeside and Chinese Garden MRT are at the doorstep may not ring so true, as you will certainly need to walk some distance (500m) to reach the nearer Lakeside MRT station.  

 

Driving

For driving, drivers will have access to the PIE via the two-lane(each way) Jurong East Avenue 1. Expect congestion along this road as the entire area uses this road to feed into Jurong Town Hall Road (also famous for heavy traffic) to access the PIE and AYE.  The Jurong Canal Drive can be used to return to Lakeville from the PIE when travelling back from the city area but it is an exit only and cannot be used to join the PIE towards the City direction. This same Jurong Canal Drive can also be used to join the PIE if you are looking to travel towards Tuas.

Thankfully, there will be a new link road named Jurong Lake Link that will link Boon Lay Way and Jurong West Street 41 and the main entrance to The Lakeville will be on this new road. This means residents will be able to use Boon Lay Way to get to Jurong Town Hall Road to gain access to both the PIE and AYE expressways.

External (Pricing)

A total of 12 bids were submitted for the Jurong West Street 41 site. MCL’s winning bid in February 2013 was $439.8 million which works out to $651 psf ppr. Comparatively, J Gateway’s site winning bid was at $369.4 million, or $705 psf ppr.

The developer for Lakeville, MCL Land, is also the developer for J Gateway next to Jurong East MRT station which sold out for an $1,480 psf average. Thus we feel that it will have some pricing power here since there are no other competing new launches nearby at this point of time. We do feel that the pricing here should be much more competitive than J Gateway since the site is not at the doorstep of either Lakeside or Chinese Garden MRT station.

For Lakeville, property analysts estimate the selling price for Lakeville to be in the range of $1,250 to $1,300. Indicative pricing details for a mid level unit have been released by the developer (For a mid level unit).

1 Bedroom:

$756,000 to $773,000 ($1,350 psf onwards)

2 Bedrooms:

Compact: $832,000 to $876,000 ($1,310 psf onwards)

Typical: $984,000 to $1,035,000 ($1,270 psf onwards)

3 Bedrooms:

Compact: $1,217,700 to $1,326,000 ($1,230 psf onwards)

Typical: $1,442,000 to $1,605,000 ($1,240 psf onwards)

4 Bedrooms:

 $1,679,500 to $1,731,000 ($1,350 psf onwards)

 

Further comparison of prices ($/psf for last six months' data) of nearby developments yields the observation that the developer seems to be pricing the development slightly higher than all its surrounding (albeit older) developments. 

 

At first glance, Lakeville’s base pricing (mid level unit) seem to be almost on par with J Gateway’s lowest psf pricing (entire development) at around $1,270 to $1,280. But we have to note that J Gateway’s entire development average is at around $1,480 whilst the highest indicative pricing (mid level unit) we have obtained for Lakeville is at roughly $1,480 psf. The pricing difference betwwen J Gateway and Lakeville is a little too close for our personal liking though.

View J Gateway's sales details here at URA's website. Do note that the <$1,400 psf sales for J Gateway are probably those units that face the Jurong East MRT tracks directly and thus command the lower pricing.

We will update this section as and when we get hold of additional information.

Development (Unit)

Total of 696 units.

Breakdown:

1 Bedroom (560 to 592 sqft)                          – 31 units

2 Bedroom (635 to 872 sqft)                           - 288 units

3 Bedroom (872 to 1324 sqft)                            - 247 units

4 Bedroom (1270 to 1464 sqft)                          - 88 units

4 BR Dual Key (1475 to 1668 sqft)                    - 16 units

5 Bedroom (1528 to 1862 sqft)                          - 15 units

Penthouse 4 BR (1981 to 2056 sqft)                 - 4 units

Penthouse 4BR + Study (2228 to 2271 sqft)    - 6 units

Penthouse 5BR (2680 sqft)                                - 1 unit

 

The Showflat units at Jurong East Central comprises of the Type B3-Pb 2-bedrooms (872sqft), Type C6-P 3-bedrooms (1281sqft) and the Type E1-P 5-bedrooms (1862sqft) units.

Type B3-Pb 2-bedrooms (872sqft):

 

Entering the unit, the hallway at the front door offers a high degree of privacy for the apartment. But it definitely comes at the expense of precious living space.

The open concept kitchen is in the same living space as the living room, giving the living area here a bigger sense of space in the 68sqm apartment. This discourages any form of heavy cooking as the smell will definitely linger or worse, cling onto your furniture occupying the same space as the kitchen. Kitchen and bathroom fittings are provided. No choice of colour schemes or design though, which seems to be popular with other developers these days.

We also found the balcony slightly too large for our own personal liking. The large balcony comes at the expense of living space inside the unit. This brings us to a complaint we have about the unit: The bedrooms are small. Still a liveable sizing. After accounting for the built in wardrobe and putting in a bed, there will be only some space left for a small table and some manoeuvring for the bedroom. The master bedroom is sized almost the same as the bedroom and this shows in the showflat unit as there is no space after putting in a queen sized bed and a bedside table in the master bedroom. The generous ceiling height of 2.9m for the living room and bedrooms and 2.7m for the kitchen area compensates slightly for the lack of floor area though.

One thing we instantly noticed when we viewed the showflat was how generously sized the bathrooms are. The bathrooms are large. (Though we do not get to be in them all the time, the guests will be impressed) Maybe they could have used some of that space for the rooms?

  

Lastly, there appears to be several dead spaces (as marked out by the boxes with crosses inside them) in the apartment but the interior designer for the showflat unit has nicely/cleverly hidden all these dead spaces.

 

Type C6-P 3-bedrooms (1281sqft): 

 

 

The 3 bedroom unit again employs a hallway at the entrance to provide a high degree of privacy for occupants of the unit.

 

Again, the unit has a large balcony, almost as large as the living and dining room itself if you exclude the passageway where you cannot place anything. This is good news for buyers who actually like balcony spaces for the airiness it provides. However, that very same balcony takes away precious living space from inside the unit so it is a trade-off you might want to consider. Again, the kitchen is open concept which discourages any sort of heavy cooking unless you decide to invest in some form of partition yourself. The 3-bedroom unit also includes a small utility room (thankfully) which can either be used as a store room or converted for use as a domestic helper’s sleeping place.

 

Bedroom 2 is small. We could imagine that there would be hardly any more space left after accounting for the built in wardrobe and a bed. Bedroom 3 fares only slightly better and the master bedroom here is thankfully larger than the two bedrooms. (unlike the two bedder unit where the master bedroom is almost  the same size as the normal bedroom) We were told most of the master bedrooms will have corner windows. Which means that there will be a long pane of window in one direction and a small pane of window at 90 degrees to it, giving occupiers of the master bedroom a view in two directions.

Bedrooms 2 and 3:

 

Master Bedroom:

 Again, bathrooms are large! (Perhaps a little larger than necessary?) We would prefer some of the space be given to bedroom 2 and 3. If you look carefully at the floorplans, bedroom 2 and 3 are just around 50% bigger than the bathroom 2.  

 

 

Key things to note:

Hallways offer privacy at the expense of living space

Large Balconies (individual’s preference)

Furnishings seem to be of fairly average quality

Precious little storage space (esp. for the two bedder units)

Bathroom space is generous

 

Development (Building)

Site Plan:

 

Final Thoughts/ Summary

We expect Lakeville to be priced significantly lower than J Gateway(average psf of $1,480), especially in today's relatively price sensitive market amidst the cooling measures implemented and J Gateway's superior location. However, pricing seems to be slightly on the high side in light of the J Gateway sellout by the same developer. 

The commanding view of Jurong Lake, superb amenities nearby and the development of the Jurong Lake District area are major plus points for Lakeville.

Take extra care when selecting units though. A good lake view for units along Boon Lay Way will also mean track noise from the MRT trains passing by on the opposite side of Boon Lay Way. The generous bathrooms also come at the expense of the small bedrooms.

However, based on the huge turnout we saw at the showflat, we believe this might just be the next sell out project for the Jurong Lake District.  

On an ending / a side note, if you are interested in purchasing a unit at this property and require further advice, do let us know via contactus@propersquare.com or 9081-5456 and our team will help you evaluate your options further. At the same time, your property purchase through us will help us to keep this review site running and make the property landscape a better one for everyone!

Sincerely,

Team ProperSquare 

Reviewed on 01 March 2014
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