21 Aug '17, 9am

Normanton Park launched for sale, owners expecting above $800m

Each owner could receive between $1.6 million and $1.8 million if the sale goes through. (Photo: Knight Frank) The huge Normanton Park site located beside Kent Ridge Park has been launched for collective sale for a second time, marketing agent Knight Frank said on Monday (21 August). Built in 1997 for military personnel and their families, the privatised housing estate comprises 13 blocks of 488 apartments. Unit sizes range from 1,270 sq ft to 1,550 sq ft and the entire site measures approximately 660,999 sq ft. The owners are expecting offers of above $800 million, which works out to a land rate of about $898 psf per plot ratio. SEE ALSO: Lakepoint condo eyeing en bloc sale, site bigger than Shunfu Ville The reserve price includes the differential premium of approximately $225.3 million for intensification of the site, as well as the lease top-up of about $220.6 million t...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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