Normanton Park Condo New Launch by Kingsford Development 61008833

Normanton Park History in Queenstown, Singapore

Kingsford Huray Development won Normanton Park En-Bloc Bid

The Old Normanton Park History..

 

 

Few people were foolish enough to make trouble in Normanton Park that was home to many Singapore military commanders and officers. Back in 1977, the Ministry of Defence recognized the need to provide affordable housing for Singapore Armed Forces (SAF) commissioned officers. But more importantly, its intention was to build camaraderie among them. Hence, for this purpose, the idea of condominium accommodation was mooted. Located in District 5, inside Rest of Central Region (RCR), Housing Development Board (HDB) was tasked to design and build Normanton Park condominimum in the same year. Since then, Normanton Park had become a famous landmark, comprising 488 units of mainly five-room flats spread across five high-rise blocks on a sprawling site.

The New Normanton Park Story...

 Normanton Park Sold En Bloc for $830million

 

In October 2017, Kingsford Huray Development made headline news in the property scene. After nearly four decades, the old Normanton Park was finally sold to Kingsford Huray Development for a staggering S$830.1 million. An estimated S$231.1 million for refreshing the lease to 99-year and a fee of about $283.4 million to redevelop the site to a gross plot ratio of 2.1 were payable. This would translate to a land price of about $969 per square foot per plot ratio (psf ppr). In fact, at S$969 psf ppr, this price was the highest ever achieved for a 99-year leasehold site via collective sale. After factoring in all the costs, fees, taxes etc, the new Normanton Park breakeven price for Kingsford was estimated to be around S$1500 psf ppr. To pay homage to the rich military history and heritage of the former condominium, the new Normanton Park condo will preserve the same name, on the same glorious site. The new Normanton Park even features an outdoor IPPT station.

 

Not All Smooth Sailing…

Kingsfold Development was issued a “no-sale licence” by the Controller of Housing (COH) for Normanton Park in Jan 2019, resulting a short delay in one of the biggest private condominium launches. This was due to the developer’s non-fulfillment of meeting the requirements of Building and Construction Authority (BCA) for Kingsford Hillview Peak in 2017. Basically, “no-sale licence”  allows developer to commence construction but forbids to sell any units before Temporary Occupation Permit (TOP) is obtained. These regulations which started in 1985 were put in place to protect homebuyers’ interests by ensuring the quality complies with BCA’s Quality Mark certification. Kingsford Development eventually completed all the rectification works for Kingsfold Waterbay and the ban was successfully lifted on 30 November 2020.

 

Today, Normanton Park is a prestigious, upscale private residential development comprising 1840 1-to 5-bedroom apartments and penthouses in nine majestic towers, 22 strata-titled terrace houses, 7 commercial units and 1 restaurant all spread across an extensive 61,900 sqm of Amazon-theme elevated land. And it is now ready for an exciting and completely new lease of life !

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