Friday, 6 September 2013

SGD 1.43 billion top bid for Yishun site

A mixed commercial and residential site at Yishun Avenue 2/ Yishun Central 1 drew five bids with a highest bid of SGD 1.43 billion. The bidding was closed on 6th Sep 2013. The site was launched for sale by HDB on 28th Jun 2013, the land parcel has an area of 41,084.9 sq m and maximum gross floor area (GFA) of 123,254.7 sq m, with a plot ratio of 3.0. The top bid was submitted by Frasers Centrepoint. This was followed by an offer from Far East Civil Engineering, Far East Orchard and Sekisui House at SGD 969.3 million. The lowest bid of SGD 704.5 million came from Yorkshire Investments and Yorkshire Trustee, units of CapitaLand.

The site’s integration with Yishun MRT station and bus interchange in future makes it a new focal point for Yishun. The site is offered on a 99-year lease, the site could also generate about 890 housing units.

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