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A Successful En-Bloc of Normanton Park

Brought to You by
Kingsford Huray Development

Enjoy Lush Greenery and
Unblock Views to the City
Potentially 1,200 Residential Units
Catering to your Choices

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More information and Updates!

PROJECT DETAILS

 
 

Normanton Park, a former government housing project, located off Ayer Rajah Expressway, has been sold to Kingsford Huray Development through a collective sales, in the 4th quarter of 2017, for S$830.1 million. The owners of the development, each got an average of between S$1.68 million and S$1.86 million. 

 

Build in the mid-70s, Normanton Park has a site area of 661,005 square feet and is located in the West Region of Singapore, bounded by Normanton Park, Science Park Drive and Wimchester Road. 


There are 488 units in the condominium project - made up of eight low-rise blocks and five 23-storey towers. Formerly designed for Singapore Armed Forces personnel and their families. With a gross plot ratio of 2.1, this new housing development is expected to house approximately 1,200 residential apartments.

 

The sales price will translate to a land rate of about S$ 969 psf per plot ratio and additional premium of around S$231.1 million to top up the lease from a 71 years lease to a fresh 99 years and S$283.4 million for redevelopment of the site to the gross plot ratio of 2.1 and intensification of the 661,005 sqft of land. The estimated breakeven amount is likely to be around S$x,xxx psf. Hence, the approximate selling price of the new units in this private condominium, will be averaging to about S$1,xxx psf, assuming a target profit margin of 10%.

 

New and Upcoming Condo at Normanton Park is conveniently located. Residents of Normanton Park will find educational institutions that inlcude Anglo-Chinese School (Independent), Fairfield Methodist primary and secondary schools, National University of Singapore, Singapore Polytechnic and Insead.  New Condo at Normanton Park is nearby to New Town Parimary School, Fiarfield Parimary School and Queenstown Primary School. The Global Indian International School (Queenstown Campus) is also about 1km away.

 

The nearest MRT Station is Kent Ridge MRT Station which is approximately 1km away. Residents can easily transit to Haw Par Villa MRT Statiion and Pasir Panjang MRT Station.

 

There is easy link for those who are driving to Centre which seamlessly connects them to the Ayer Rajah Expressway (AYE). Future residents of New Condo at Normanton Park can also connect to the Central Expressway (CTE). It will take approximately 5 minutes’ of driving to get down to the Central Business District (CBD) from New and Upcoming condo at Normanton Park. It will take approximately 7 minutes’ of drive to get to Orchard Road Shopping belt. Normanton Park is very near to National University Hospital (NUH) and Alexandra Hospital.


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First Hand Information

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Project  New Condo at former site of Normanton Park
Developer  Kingsford Huray Development
Location  Normanton Park
District  04
Tenure  99 years leasehold
Site Area  61,408.9 square metres/ 661,005 square feet
GFA:
Plot Ratio  2.1
Expected TOP:
Total Units  Approximately 1,200 residential apartments
Total Carpark
Development  Condo comprising of communal facilities
Unit Type:
Architect
Eligibility SC/ SC, SC/SPR and Foreigner can buy

LOCATION and AMENITIES

New Condo at Normanton Park

FACILITIES SITE PLAN and FLOOR PLANS E-BROCHURE

The Facilities and Site plan of new condo launch at the former site of Normanton Park, are currently seeking approval from relevant authorities. 

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AVAILABLE UNITS/ SOLD/ CHEAPEST PRICES PSF

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ONE NORTH: BIOPOLIS, FUSHIONPOLIS and MEDIAPOLIS

One-North

The vision for one-north is steadily becoming reality as world-class research facilities, business parks and commercial spaces continue to be developed here to provide quality business spaces and to support activities in biomedical sciences, physical sciences, engineering, infocomm technology and the media industry.

Artist's impression of one-north
Artist's impression of one-north
© JTC Corporation

The development of Nepal Hill, planned as a leadership training and development hub, is also progressing well. Four Acres Singapore, the first global leadership development centre outside of London for the global conglomerate Unilever, opened this year.

Major industry names like Procter & Gamble, Lucasfilm, ESSEC Business School and MediaCorp have also committed substantial investments to develop their own facilities, which will contribute to the flourishing of the research and business communities at one-north when completed.

At Fusionopolis, construction has commenced for Phase 5 which will pioneer the “Work Office Home Office” (“WOHO”) concept offering flexible spaces for office, living and lifestyle functions. Infinite Studios, the first development within Mediapolis, was completed recently and houses Singapore’s largest soundstages.

imgeconomy8
Artist’s impression of Mediapolis
© JTC Corporation

NORMANTON PARK CONDO SITE SOLD TO KINSFORD HURAY DEVELOPMENT THROUGH COLLECTIVE SALES

SINGAPORE – Normanton Park was sold on Thursday (Oct 5) to Kingsford Huray Development for S$830.1 million, making it the highest land rate for a 99-year leasehold collective sale site so far this year.

The sale price works out to S$969 per square foot per plot ratio (psf ppr), inclusive of differential premium and lease upgrading premium

According to a release by Knight Frank, each owner will stand to receive a gross sale price of approximately S$1.68 million to S$1.86 million upon a successful sale. 

This is provided several conditions are met, which includes an order of sale by the Strata Titles Board or the High Court.

Mr Ian Loh, Executive Director and Head of Investment & Capital Markets at Knight Frank, who was in charge of the sale, said: "The gross development value for this project is estimated at S$2.23 billion. The new high-rise development could potentially house more than 1,200 new residential units of 100 sqm on the site, and new homeowners can potentially enjoy lush greenery views and unblocked views to the city.”

“(Normanton park is in) an up and coming area as it is located near the Science Park and One-North. It is also located close to good schools and the National University Hospital, catering to a wide variety of home-buyers,” he added. 

Knight Frank marketed the collective sale of Normanton Park through a public tender which was launched on Aug 22 and closed on Thursday.

Currently, 87.3% of the owners have consented to the sale, which was concluded in 10 weeks.

The condominium comprises 13 residential blocks of 488 apartment units with a site area of 61,408.9 sqm.

Normanton Park is located off the Ayer Rajah Expressway, and is near educational institutions such as Anglo-Chinese School (Independent), Fairfield Methodist primary and secondary schools, National University of Singapore, Singapore Polytechnic, and Insead.

The site was privatised in 1993. It was originally designed and built in the mid-1970s by the Housing and Development Board (HDB) for Singapore Armed Forces pesonnel.

Mr Sukhvinder S Chopra, Chairman of the Sale Committee and a retired Colonel from the Navy (SAF), said: “The sale committee received several submissions and worked very closely with the marketing agent and lawyers. We deliberated all the submissions carefully and the decision to award to Kingsford was unanimous.”

Source: TodayOnLine 4th October 2017

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