UNITS linked to Frasers Centrepoint Ltd have emerged as the top bidder for a mixed-use commercial and residential plot at Yishun Central, putting in a bid that far surpassed consultants' expectations.
North Gem Development and FC North Gem Trustee (Trustee-Manager of North Gem Trust) bidded $1.4 billion for the site with a gross floor area of 1.33 million square feet, which works out to about $1,077 per square foot per plot ratio - based on a plot ratio of 3.
This is some 47 per cent above the second highest bid put in by a consortium involving Far East Civil Engineering, Far East Orchard Limited and Sekisui House.
In total, five bids were made for the site, which sits above the future Yishun bus interchange and is next to Yishun MRT station.
North Gem Development and FC North Gem Trustee (Trustee-Manager of North Gem Trust) bidded $1.4 billion for the site with a gross floor area of 1.33 million square feet, which works out to about $1,077 per square foot per plot ratio - based on a plot ratio of 3.
This is some 47 per cent above the second highest bid put in by a consortium involving Far East Civil Engineering, Far East Orchard Limited and Sekisui House.
In total, five bids were made for the site, which sits above the future Yishun bus interchange and is next to Yishun MRT station.