Normanton Park Sold En Bloc For S$830.1M

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The Normanton Park site is considered by real estate analysts as an up and coming area due to its proximity to Science Park, the One-North technological hub, and the National University of Singapore.

Access to Normanton Park is convenient as it is just off the Ayer Rajah Expressway. It is also a short distance away from an education hub consisting of good schools like Anglo-Chinese School, Fairfield Methodist School, National University of Singapore, Singapore Polytechnic and InSEAD.

The older development was designed and build by the Housing and Development Board for Singapore Armed Forces officers and men and became privatised in 1993. The original Normanton Park buildings includes 13 blocks with 488 apartments of various sizes.

A collective sales tender for Normanton Park condo was launched on 22 Aug 2017 and was concluded in 10 weeks. Kingsford Huray Development bought the 61,408.9 sqm site for S$830.1 million. This breaks the record of being the highest land rate purchased for a leasehold 99 years collective sale plot. The land price is estimated at S$969 psf after factoring lease topping up and differential premium

According to some experts, the gross development value for the project is approximately S$2.23 billion.

The projected new development might house 1,200 units of approximately 100 sqm and the new residents might be able to enjoy lush and unblocked surrounding views.

Source: Today Online