Normanton Park is a 99-year leasehold condo situated off the Science Park commercial cluster. This magnificent and iconic condominium comprises a total of 1,863 strata residential units, 19 units of strata landed houses and 8 commercial units.
One Normanton Park is nonetheless the perfect home for nature lovers. The condo offers a peaceful hilltop scenery, away from the buzz of the city. This condo would provide a much-needed retreat for occupants to wind off and relax after a long day.
Normanton Park Project Information
Why Buy Normanton Park ?
Nearby Kent Ridge MRT Station approximately 1 km away
It takes about 5 minutes to drive to the Central Business District (CBD) and 7 minutes to get Orchard Road shopping belt
Nearby a number of the top of schools
Well-connection education situation, food and medical centers
Experience level of indulgences with many of its facilities
Predominantly surrounded by numerous business parks & medical centers, including One-North Business District, Science Park I & II, Mapletree Business City, NUH as well as Alexander Hospital, and premier educational institutions, such as NUS, making it a great investment for own stay or rental.
Well connected by major expressways
Highly sought oasis with architecture bliss within the picturesque beauty of the lush natural environment
About the Developers
Kingsford Huray Development was incorporated in 2011 by China-based Kingsford Group. Since entering the real estate industry in 2000, the Kingsford Group has developed a number of commercial and residential projects in Singapore and China.
In 2012, Kingsford Development commenced property development in Singapore with Kingsford Hillview Peak, a 512-unit condominium at Hillview Avenue. It then went on to develop Kingsford Waterbay, a mixed used development at Upper Serangoon View comprising of 1,165-unit condominium and retail shops. Kingsford Development won the Singapore Prestige Brand Award - Global Brands in 2019.
Not all smooth sailing
Kingsford Huray Development encountered a roadblock during its development for Normanton Park. In April 2019, it received a no-sale license for Normanton Park, with the Controller of Housing (COH) citing failure to meet requirements for previous project Waterbay.
However in December 2020, COH gave the go-ahead, conditionally requiring Kingsford to complete a Quality Mark assessment for all units, prior to applying for the Temporary Occupation Permit (TOP). The Quality Mark is a voluntary scheme ensuring quality workmanship for each unit.
With the statutory boards' extra eyes for this development, we can be assured of a safer buy for One Normanton Park purchases.
Purchase & Breakeven Price
In late 2017, Normanton Park was sold for $830.1 million, including an estimated $231.1 million to top up the lease to 99 years. Another fee of about $283.4million was also incurred to redevelop the site to a gross plot ratio of 2.1. With a totalling bid of $1.34 billion and an inclusion of $712.6 million consisting land financing, marketing and construction cost estimates, the breakeven comes up to approximately $1,482 PSF PPR.
A safe bet is to add on 20% on top of this for developer mark-ups, which brings us to an average of $1778 PSF.