Normanton Park is not an ex-HUDC, it was built to house the military and their families in 1977. it is therefore 10 years older than our estate.Reserve price: $800 million
Estimated DP: $225m (DC) + $226m (LUP)
488 Units
11 days to reach 80%
2 weeks to launch tender
Tender closes 5 Oct 2017
5 OCT 2017
Sold for $830.1m / $969 psfppr
Number of Bids: 'several'
Buyer; Kingsford Huray Development
3 JAN 2018
SALE ORDER
11 days to reach 80%! The RSM there runs one tight ship!
ReplyDeleteWow if add in the DP is more than 1 billion, perhaps they are aiming for JV between developers
ReplyDeleteRoutine Order - 0530 hours all ranks Lt Col. and below assemble at NP parade square in PT kit and pen to sign CSA, followed by 5BX. Above Lt Col sign at NP Snr (retired) officers mess own time own target..
ReplyDeletetheir 99 years start in 1977...thats why their LUP higher...
ReplyDeleteSold $830m with conditions...and sounds like only 1 bidder or 1 bid above RP
ReplyDeleteTheir past transaction price is much higher than our TC. One transaction on July 1.3m plus ssd made so little.
ReplyDeleteSeems like what go inside our pockets more important.
ReplyDeleteExactly. The longer the delay the lesser money left in our pocket as we have to pay higher prices for replacement units. Quickly complete the transaction and take the money & run.
DeleteRSM of NP declares 10 days off in lieu for all SPs who signed up. remaining 15% who didnt sign up can do so now to get 100%, if they do not, then confine in NP until sign, no booking out.
ReplyDeleteseveral bids is useless if all are below RP.
ReplyDeleteso I don't quite understand - when enblocs report the winner, why did TC so clearly say that there were conditions attached (as in the front headlines). Now I notice that most if not all enblocs have conditions attached anyway.
ReplyDeletewhen we say "SALE NOT CONFIRMED" - then it is applicable for every enbloc that is at this stage anyway...
The media can only report what they were told. CSC and MA are not obliged to release all details. Its up to them how much they want to disclose.
DeleteTrue.
DeleteAll sales are conditional on STB approval (unless there is 100% consent).
All leasehold sales have the extra worry of the differential premiums being off the mark and may or may not have conditions attached in the SPA
So you are saying Normanton might have a DC or LUP exit clause also in the SPA? Since it is leasehold also, the news report did not disclose much too.
DeleteNormanton Park was for commissioned officers only.
ReplyDeleteInteresting turn of events I suppose. Kingsford did not win the Beach Road commercial site and its new condo (Kingsford Waterbay) in Hougang still has leftover units still unsold. Honestly, it was built next to a big canal for the Serangoon River with a foul river smell. The location in Normanton Park was the best choice for them.
ReplyDeleteHi Edwin.Serangoon River is now Serganoon Reservoir.
ReplyDeleteHow come smelly?