SINGAPORE (EDGEPROP) - Chinese developer Kingsford Development will open Normanton Park’s 12,000 sq ft sales gallery for VIP preview on Jan 1, 2021, with public preview to start the following day. The project is scheduled for launch on Jan 16. As the first project to be launched in 2021, the 1,862-unit Normanton Park is also the biggest residential development since the 2,203-unit Treasure at Tampines was launched in March 2019.
“Normanton Park is the last of the big, privatised HUDC estates that were sold en bloc in 2017,” says Nicholas Mak, ERA Realty head of research. “It’s the only project of such a scale – with more than 1,000 units – to be launched in 2021.” (See: [UPDATE] Normanton Park sells close to one-third of units on launch weekend)
The ‘Normanton Park’ name was retained “to pay homage to the rich history and heritage of the former condominium with the same name which was previously built as a home to military commanders and officers in 1977 on the same site”, says a spokesman for Kingsford Development.
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Construction of the 1,862-unit private residential development by Chinese construction and engineering firm, MCC Singapore, is already underway and scheduled for completion sometime in 2023. In Normanton’s sale license issued on Nov 30, URA’s Controller of Housing (COH) has stipulated that all units in the residential development are to complete the Quality Mark assessment before making an application to the Building and Construction Authority for the issue of the Temporary Occupation Permit (TOP). “With that, Normanton Park will possibly be one of the largest residential developments in Singapore to achieve 100% Quality Mark certification,” says a Kingsford spokesman.
The sale license is a shot in the arm for Kingsford’s development company for Normanton Park, Kingsford Huray Development, which had been saddled with a no-sale license from COH since January 2019. Kingsford had swooped in to purchase the former Normanton Park en bloc for $830.1 million in October 2017. This was the first en bloc purchase by the privately-held Chinese property developer, which landed in Singapore in 2012. (See potential condos with en bloc calculator)
Kingsford’s maiden residential development in Singapore was the 512-unit Kingsford Hillview Peak at Hillview Rise, followed by the 1,157-unit Kingsford Waterbay at Upper Serangoon View. Kingsford Hillview Peak was completed in 2017, followed by Kingsford Waterbay in Nov 2018. Both these projects were developed on 99-year leasehold sites purchased in government land sales.
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Normanton Park condo sits on a 99-year leasehold Singapore site of 660,999 sq ft, "the equivalent of nine football fields”, says Mark Yip, CEO of Huttons Asia. The 1,862 residential units comprise 1,840 apartments and penthouses spanning nine 24-storey blocks and 22 strata-titled, terraced houses. The apartments range from one-bedroom to five-bedroom units as well as penthouses. Eight of the nine towers will have 207 units, with 184 units in the ninth tower.
Despite the scale of the residential project, the built-up area occupies a footprint of just 21% of the site. This frees up almost 80% of the site for landscaped greenery, water features and residents’ facilities.
There are also eight strata commercial units within the development, which Kingsford is also offering for sale. Seven are shop units and one is a restaurant unit. In addition to residents living in the development, the commercial units which are located near the main entrance of Normanton Park, are also open to the public.
Located in the city fringe area of District 5, Normanton Park is near two growth areas – the Greater Southern Waterfront and one-north, says Huttons’ Yip.
To jumpstart sales, Normanton Park will be offering 10 Mercedes-Benz A-Class 180 Hatchback Style cars as Lucky Draw prizes. The Lucky Draw is open to both homebuyers and marketing agents of the first 800 units sold, although eligibility conditions apply.
“Being the first new private residential project to be launched in 2021 will give Normanton Park a head-start in sales,” comments Cui Zhengfeng, shareholder of Kingsford Huray Development Pte Ltd in Chinese.
Kingsford has appointed the five biggest real estate agencies in Singapore for the marketing of Normanton Park, namely ERA Singapore, Huttons Asia, OrangeTee & Tie, PropNex and SRI. “We seek to create top-of-mind market presence for Normanton Park in the new launch market,” says Kingsford’s Cui. “As the Chinese saying goes, ‘The best plans are set in spring’.”
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One-bedroom units are priced from $700,000 to $1.17 million, while two-bedders are from $1 to $1.6 million. Three-bedroom units are priced from $1.47 to $2.1 million, with four-bedders from $2 to $2.6 million and five-bedders from $2.79 to $3.2 million. Strata terraced houses are upward of $3.42 million, while commercial units are from $2 million. Prices therefore range from $1,445 psf for the smallest one-bedroom unit to $1,780 psf for the biggest five-bedroom unit.
“This will be one of the blockbuster launches in 2021 and possibly the largest condominium launched in the RCR [Rest of Central Region],” says Christine Sun, head of research at OrangeTee & Tie. “It is a highly anticipated project and prices are deemed to be attractive.”
According to Ismail Gafoor, CEO of PropNex, Normanton Park should benefit from the positive sales performance of the new projects launched in 2H2020, such as Penrose (over 60% of 566 units), The Linq (96% of 120 units) and Clavon (70% of 640 units). “The year 2021 is going to start on a positive note with the launch of Normanton Park,” says Gafoor.
Check out the hottest Singapore new launch condos in 2021
There are no new projects within a 0.5km range of Normanton Park, ERA’s Mak points out. “It’s the only residential development along Science Park Drive and should appeal to those working at Science Park 1 and 2.”
Besides Science Park I and II, Normanton Park is also near Fusionopolis, Metropolis and Biopolis at one-north, says Ken Low, managing partner of SRI.
In terms of proximity to nature, Normanton Park has the added attraction of being adjacent to Kent Ridge Park and the Southern Ridges, which has a 10km trail that links three nature parks – Hortpark, Telok Blangah Hill Park and Mount Faber Park as well as the Labrador Nature Reserve. The upcoming Normanton Park will also have a gate that opens directly to Kent Ridge Park.
Another attraction of Normanton Park is that the nine apartment blocks are raised 18.8m above ground level, which means the lowest floor is equivalent to the seventh storey, adds SRI’s Low. “Units facing south, will have views of the sea and the Greater Southern Waterfront, while units facing north, will have unblocked city views.”
Besides proximity to the Greater Southern Waterfront, Normanton Park is accessible via public transport, with feeder buses to two MRT stations, namely Kent Ridge station on the Circle Line and Bouna Vista, an interchange station for the Circle Line and East-West Line,” adds Low.
The project is therefore expected to appeal to both owner occupiers and investors, given the potential rental pool of those working in Science Park 1 and 2, as well as Mediapolis, Fusionopolis and Biopolis at one-north, says ERA’s Mak.
Find out here on why Normanton Park project sold 600 units in 1 weekend