11 Aug '17, 7am

Current new launches prices looking attractive than to these upcoming enbloc sales redevelopments. At $800+psf,...

Current new launches prices looking attractive than to these upcoming enbloc sales redevelopments. At $800+psf,...

NORMANTON Park condominium is slated to be launched for collective sale on Aug 22 at a minimum price of S$800 million after more than 80 per cent of owners by share value and strata area approved the collective sales agreement (CSA) by Wednesday. It is probably a record for a project of this scale with 488 units to garner sufficient signatures from owners within 11 days, said Ian Loh, head of investment and capital market at Knight Frank, which is marketing the project. The estimated differential premium for intensification of the site is S$225.3 million, while the lease top-up is estimated to cost another S$220.64 million. This will translate to a land rate of S$898 per square foot per plot ratio (psf ppr), said Mr Loh. Owners are expected to pocket gross profit of between S$1.62 million and S$1.8 million. Elsewhere, privatised HUDC estate Florence Regency in Hougang and ...

Full article: https://www.srx.com.sg/singapore-property-news/39762/norm...

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