{"id":68320,"date":"2017-10-06T09:49:53","date_gmt":"2017-10-06T02:49:53","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/normanton-park-sold-for-830-1m-or-969-psf-ppr\/"},"modified":"2017-10-06T10:03:43","modified_gmt":"2017-10-06T03:03:43","slug":"normanton-park-sold-for-830-1m-or-969-psf-ppr","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/normanton-park-sold-for-830-1m-or-969-psf-ppr\/","title":{"rendered":"Normanton Park sold for $830.1m, or $969 psf ppr"},"content":{"rendered":"


\nThis is the highest land rate achieved for a 99-year leasehold collective sale site this year. (Photo: Knight Frank)
\nThe Normanton Park condominium located off Ayer Rajah Expressway has been sold collectively to Kingsford Huray Development for $830.1 million, marketing agent Knight Frank said on Thursday (5 October).
\nIt comes one day after Amber Park was sold to City Developments Limited for $906.7 million. On Thursday, CBRE also announced that Cairnhill Mansions would go on sale soon at a guide price of $362 million.
\nThe sale price of Normanton Park works out to approximately $969 psf per plot ratio (psf ppr) \u2013 making it the highest land rate for a 99-year leasehold collective sale site this year.
\nBuilt in the mid-1970s for the Singapore Armed Forces, the approximately 660,999 sq ft site comprises 13 blocks of 488 apartments.
\nOver 80 percent of the owners consented to the sale and the public tender was launched on 22 August. Each owner will stand to receive approximately $1.68 million to $1.86 million.
\nSukhvinder S Chopra, chairman of the sale committee and a retired navy colonel, said: \u201cThe sale committee received several submissions and worked very closely with the marketing agent and lawyers. We deliberated all the submissions carefully and the decision to award to Kingsford was unanimous.\u201d
\nIan Loh, executive director and head of investment & capital markets at Knight Frank, said: \u201cThe gross development value for this project is estimated at $2.23 billion. The new high-rise development could potentially house more than 1,200 new residential units of 100 sq m (1,076 sq ft).\u201d
\nIn May, Knight Frank sold two collective sale sites: One Tree Hill Gardens near Orchard Road for $65 million, and the privatised HUDC estate Rio Casa along Hougang Avenue 7 for $575 million.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Normanton Park sold for 0.1m, or 9 psf ppr<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

This is the highest land rate achieved for a 99-year leasehold collective sale site this...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-68320","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-hLW","jetpack-related-posts":[{"id":73700,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/park-west-up-for-en-bloc-sale-for-s818mil\/","url_meta":{"origin":68320,"position":0},"title":"Park West up for en bloc sale for S$818mil","date":"December 5, 2017","format":false,"excerpt":"\r After two failed attempts at a collective sale in 2007 and 2011, Park West condominium near Clementi MRT station has once again been put up for en bloc sale with an asking price of S$818 million, reported Channel News Asia. This comes after over 80 percent of the owners\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":72077,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/vista-park-up-for-collective-sale-for-350mil\/","url_meta":{"origin":68320,"position":1},"title":"Vista Park up for collective sale for $350mil","date":"November 17, 2017","format":false,"excerpt":"\r Joining in the collective sale frenzy, Vista Park condominium has also launched a tender for en bloc sale, with the owners expecting offers of at least S$350 million, reported Business Times. At this price, each unit owner could gain between S$1.16 million and S$3.5 million, which is a premium\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":64146,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/normanton-park-launched-for-sale-owners-expecting-above-800m\/","url_meta":{"origin":68320,"position":2},"title":"Normanton Park launched for sale, owners expecting above $800m","date":"August 21, 2017","format":false,"excerpt":"\r Each owner could receive between $1.6 million and $1.8 million if the sale goes through. (Photo: Knight Frank) \u00a0 \u00a0 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).\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69748,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mayfair-gardens-up-for-en-bloc-sale-at-265m\/","url_meta":{"origin":68320,"position":3},"title":"Mayfair Gardens up for en bloc sale at $265m","date":"October 23, 2017","format":false,"excerpt":"\r The asking price works out to a land rate of around $1,058 psf per plot ratio. (Photo: Knight Frank) Mayfair Gardens off Dunearn Road has been launched for collective sale, with the owners expecting offers above the reserve price of $265 million, according to marketing agent Knight Frank. Built\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69798,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dunearn-court-sold-to-roxy-pacific-for-36-3m\/","url_meta":{"origin":68320,"position":4},"title":"Dunearn Court sold to Roxy-Pacific for $36.3m","date":"October 23, 2017","format":false,"excerpt":"\r Each owner will receive about $2.91 million to $3.12 million from the sale. (Photo: Knight Frank) The en bloc market continues to roll with the sale of Dunearn Court to RH Central, a subsidiary of Roxy-Pacific Holdings, for $36.3 million. This is slightly lower than the guide price of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":82336,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/goodluck-garden-sold-to-qingjian-for-610m\/","url_meta":{"origin":68320,"position":5},"title":"Goodluck Garden sold to Qingjian for $610m","date":"March 9, 2018","format":false,"excerpt":"\r The freehold site off Upper Bukit Timah is close to Beauty World MRT station. (Photo: Knight Frank) Goodluck Garden, a 210-unit freehold condominium along Toh Tuck Road, has been sold through a collective sale to Chinese developer Qingjian Group for $610 million, which is about 10 percent above the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/68320"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=68320"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/68320\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=68320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=68320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=68320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}