This works out to S$969 per square foot per plot ratio inclusive of differential premium and lease upgrading premium.
The current 23-storey development, located off Ayer Rajah Expressway, consists of 488 units, and can be redeveloped into a property with a maximum permissible GFA of 1.39 million sq ft.
Based on the 2014 Master Plan, the 661,000 sq ft site on which Normanton Park sits is zoned “residential” with a gross plot ratio of 2.1, and has approximately 59 years remaining on its current 99-year lease.
Normanton Park is near educational institutions including Anglo-Chinese School (Independent), Fairfield Methodist primary and secondary schools, National University of Singapore, Singapore Polytechnic and Insead.
The new high-rise development on the site could potentially have close to 1,290 homes of an average size of 100 sq m (1,076 sq ft) gross floor area.