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Normanton Park, a former HUDC estate named after the road on which it sits that has been put up for collective sale at a minimum price of $800 million ($898 psf ppr, including development charges and lease top-up premium) is awarded to KINGSFORD Huray Development at a price of S$830.1 million.
This works out to S$969 per square foot per plot ratio inclusive of differential premium and lease upgrading premium.
This works out to S$969 per square foot per plot ratio inclusive of differential premium and lease upgrading premium.
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Normanton Park, which is near Science Park and Kent Ridge Park, is on a 660,999 square foot site that has a balance lease term of about 59 years. Knight Frank marketed the collective sale of Normanton Park through a tender that closed on Thursday 5 Oct 2017.
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.
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.
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"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, which is subject to several conditions being met, including an order of sale by the Strata Titles Board or High Court," Knight Frank said in a release on Thursday night.
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.
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.
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