Yishun 10 Redevelopment

The research read

The Yishun 10 redevelopment will replace the Yishun 10 cinema and retail block at 51 Yishun Central 1 with about 110 homes over a ground-floor retail podium. Frasers Property is the developer. The site is in District 27, in the OCR (Outside Central Region), about 160m from Yishun MRT. It carries a fresh 99-year lease once the lease is refreshed. The launch is targeted for mid-2027 and completion for mid-2031.

Three things to take note. Nobody tendered for this land: Frasers bought the building in two pieces in 2025 for $82.5 million and will pay the state a premium to rebuild it as homes. The site is small, at 39,125 sq ft, so the project will hold about 110 homes where most new Yishun condos hold 400 to 900. And it shares a corner with North Park Residences, the 920-home condo over Northpoint City that Frasers also built, so the price comparison sits next door.

So what will a buyer pay, and is it fair? Four questions carry the answer. What does the land cost once the lease premium is added? How far above North Park's resale prices can a new block 160m away sit? How many of 110 homes need to sell on launch day to call it a success? And which of the six primary schools inside 1km radius of the development does the address actually help with?

A 1992 cinema block, bought in two pieces

Yishun 10 opened in May 1992 as a four-storey block with a 10-screen Golden Village cinema, according to Stacked Homes. For most of its life the cinema and the shops below it had different owners. Frasers spent 2025 putting the two back together.

1. May 1992Yishun 10 opensFour storeys, a 10-screen Golden Village multiplex and ground-floor shops.
2. Jun 2025Frasers buys the cinema$48 million for the 1,477-seat Golden Village cineplex on the second to fourth floors, with an 18-month lease-back. A further $2 million plus GST is payable if building permission is obtained within a set period.
3. Aug 2025Frasers buys the 10 shop units$34.5 million from Frasers Centrepoint Trust for 10 ground-floor strata lots of 966 sqm, on a 99-year lease that began on 1 April 1990.
4. 2 Sep 2026Redevelopment announcedAbout 110 homes over a retail podium, with a landscaped facilities deck on the second storey. Site area 39,125 sq ft; gross floor area 117,376 sq ft. Yishun 10 Memories, a call for stories and objects from former patrons, opens alongside.
5. 31 Oct 2026Memories submissions closeLater material may still be considered, per Frasers.
6. 2 Mar 2027Yishun 10 closesDemolition follows.
7. Mid 2027 (target)LaunchFrasers calls it the first residential launch in Yishun Central in more than a decade. Not developer-confirmed as a date.
8. Mid 2031 (est.)CompletionAs stated in Frasers' factsheet.

The 1990 lease date matters for buyers. On the old lease, the building had about 63 years left in 2026. The factsheet says the new homes will sit on a 99-year lease "upon lease refresh", which means the state grants a new 99-year term and Frasers pays a premium for it. Your lease clock starts at the refresh, not in 1990. The exact start date has not been published, so check it in the sales documents.

About 1,000 sq ft of floor area per home

The permitted floor area is 117,376 sq ft on a 39,125 sq ft site, a plot ratio of exactly 3.0. That is the same plot ratio North Park Residences was built to next door. Spread across 110 homes it gives about 1,067 sq ft each. Take out a podium the size of today's shop units, about 10,300 sq ft, and it is closer to 970 sq ft.

Gross floor area includes lobbies, corridors and the facilities deck, so neither figure is a unit size. But it rules out a project built around studios. Expect two- to four-bedroom layouts, with a typical home large enough for a family. Frasers has not released a unit mix, so treat this as our reading of the numbers, not a plan.

What does a mall bought at $703 psf ppr cost once the lease is refreshed?

The two purchases total $82.5 million. Divided by the new floor area, that is about $703 psf ppr, the price per square foot of floor space the site may hold. It would be among the cheapest land in the North. It is also incomplete. The premium for the fresh 99-year lease and the change to homes has not been published, and it will be large.

To cost the site we value the land at $980 psf ppr, the price HDB accepted for Chencharu Close in September 2025. That site is 1.7km away, in the same district and also mixed-use. At that rate the land is worth about $115 million, which implies a lease premium of roughly $30 million to $33 million (est.). The table puts both figures among the land sold nearby.

On that land value our cost model gives a breakeven of about $1,894 psf ppr. The total comes to $222.3 million: land $115.0 million, construction $64.1 million, financing $18.1 million, fees and stamp duty $12.5 million, and marketing $12.6 million. Stamp duty here is the actual duty on two commercial purchases, about $4.1 million, because no developer ABSD applied. Adding the 15% to 30% margin band we apply to every launch gives an indicative range of $2,180 to $2,460 psf (est.). Part of that margin covers the gap between the floor area a developer pays for and the smaller area it can sell, so it is not all profit. The full working is in our pricing methodology.

The proxy moves the answer. Every $100 psf ppr of land shifts the breakeven by about $127. If the lease premium is lighter than we assume and all-in land is $880, the range falls to about $2,030 to $2,300. If it is $1,080, the range rises to about $2,320 to $2,630. Frasers knows its premium. We will replace the proxy if it is disclosed.

North Park Residences resells at $1,930 psf next door

The Yishun 10 redevelopment will likely command a premium over every resale condo in the area. The question is how big a premium a buyer accepts. The table lists the private condos and ECs within about 1.7km that changed hands most often in the past year.

North Park is the only true neighbour. It is joined to Northpoint City and the bus interchange and is two minutes from the station, which is why it resells $200 psf above the two newest condos in Canberra. A new block on the same corner, with a fresh lease, has a fair case for sitting above North Park. Whether 13% or 27% above is the right gap is what the price list will tell us.

The record behind these prices is strong. 1,576 of the 1,625 recorded resales in these seven projects made money, or 97%. District 27 as a whole shows 4,919 of 5,216 resales in profit, 94%, at a median 3.8% a year over a median hold of eight years. Yishun Emerald, the oldest, carries most of the losses: 41 of its 428 resales lost money.

What 40%, 54% and 84% on launch day mean for 110 homes

There has been no preview yet, so there is no launch-day result to report. What we can do is set the bar. Three recent launches in the North give it.

Canberra Crescent is the closest test. It is the last private launch in District 27, it sold 40% on launch day at $1,974 psf, and it reached 94% in about 14 months. ERA's chief executive said most of its buyers were HDB upgraders who knew the area. Lentor Gardens shows the other side: at $2,350 psf it sold 54% on day one and has barely moved since.

Scale works in Yishun 10's favour. Matching Canberra Crescent's 40% takes only 44 buyers. North Park's buyer records show 63% came from HDB addresses, so the pool is mostly upgraders nearby. On our MOP export, 3,638 flats in 29 Yishun blocks reach their five-year minimum occupation period in 2027, the launch year. That figure is an estimate, and an eligible flat owner is not a buyer, but it shows the pool is not thin.

160m to Yishun MRT, underground to Northpoint City

• Yishun MRT (NS13), North-South Line: about 0.16km in a straight line, roughly 2 minutes on foot (est.); verify with OneMap. One line, no change needed to Orchard, City Hall or Raffles Place.
• Yishun Integrated Transport Hub: next door, per Frasers. Bus services start and end here.
• Northpoint City: about 0.2km, with underground pedestrian access, per Frasers.
• Khatib MRT (NS14): about 1.45km, one stop south.
• Roads: the Seletar Expressway is a short drive. The North-South Corridor is now targeted to open in phases from 2029.

Nothing in this section depends on a line that has not opened. The North-South Line runs today, and the walk is short enough that a commuter would not take a feeder bus. If the North-South Corridor slips again, drivers lose time; the rail case is unchanged.

A finished town centre, with Chencharu next door

Yishun Central is mature. Khoo Teck Puat Hospital and Yishun Community Hospital are about 0.7km away, Yishun Polyclinic about 0.3km, and Yishun Park, 14 hectares, about 0.9km. Junction 9 is about 0.7km, and the Chong Pang food centre about 0.9km.

The one large change nearby is Chencharu, HDB's new town of about 10,000 homes to 2040, starting about 1.7km south-west. Its first private launch, Chencharu Central Residences, previews on 16 January 2027 at an estimated $2,270 to $2,560 psf on the same model. That sets a near-term reference point for Yishun 10, about $90 to $100 psf above our range. For Yishun Central itself, the Government has not announced any other transformation. The value case here rests on what already exists.

Six primary schools inside 1km, and Chongfu by 9m

On our straight-line estimates, six primary schools sit within 1km radius of the development. Distances come from OneMap geocodes, not MOE's measure.

Four of the six had places to spare at Phase 2C in both years. The two in demand are Huamin and Chongfu. Both balloted among citizens living within 1km in 2025 and 2026, so a home inside 1km earns a place in that ballot, not a seat. In 2026 Chongfu had 137 applicants for 48 places.

Chongfu is the one to check. On our estimate it is 9m inside the 1km line, well within the margin of error between a map point and MOE's own measure. Some units may fall inside and others outside. Once the block layout is known, check your unit's address on MOE SchoolFinder or OneMap's school query before you rely on it. Northland, at about 1.08km, is just outside on our figures. Our study of school demand and new launches explains how these ratios move from year to year.

Renting it out at North Park's $4.70 psf

North Park Residences rents average about $4.70 psf a month across 1,978 lodged contracts. At our range, the same rent gives a gross yield of about 2.3% to 2.6% (est.), before tax, fees and empty months. North Park's own owners, who bought for less, earn more on the same rent. A buyer at launch prices is paying for the fresh lease, the new building and the location, and the rent alone will not justify the entry. Run your own figures through the new launch ROI calculator.

Who a 110-home Yishun Central launch suits

It suits a Yishun or Sembawang family upgrading from a flat that reaches MOP around 2027, with cash beyond the sale proceeds. It suits a North-South Line commuter who wants the station and the mall at the door, and a buyer who prefers a small development with fewer neighbours. It is a weaker fit for a household that qualifies for an EC, since the District 27 EC sites come out $300 to $500 psf cheaper on our model. It is also a weak fit for anyone buying mainly for rent, and for a buyer whose whole budget is the flat sale with no top-up.

Stamp duty, loans and the 2027 to 2031 stretch

Standard private condo rules apply. There is no citizenship restriction and no minimum occupation period. Your total monthly loan repayments are capped at 55% of gross monthly income. The test uses a 4% interest rate, not the rate you are offered. You can borrow up to 75% of the price on a first housing loan, 45% on a second and 35% on a third. Those fall to 55%, 25% and 15% where the loan runs past 30 years or past your 65th birthday.

Singapore Citizens pay no Additional Buyer's Stamp Duty on a first property, 20% on a second and 30% on a third. Permanent Residents pay 5% on a first and 30% on a second. Foreign buyers pay 60% on any home. Buyer's Stamp Duty applies on the tiered scale on top. On a $2.2M purchase that is about $79,600. You cannot pay either stamp duty with loan money.

Seller's Stamp Duty is the tax for selling too soon. Under the schedule effective 4 July 2025 it runs for four years from the date you exercise the option, not from keys. A buyer at a mid-2027 launch would be clear of it around mid-2031, close to the estimated completion.

Progressive payments soften the cash needed early. You pay 5% on booking in cash, then 15% plus Buyer's Stamp Duty at exercise. After that, payments follow construction milestones, with 25% when the building is finished and 15% at statutory completion. An upgrader who must sell a flat, clear a mortgage and fund a growing drawdown at the same time should get a bank's in-principle approval before the launch.

Work the numbers through our affordability calculator, stamp duty calculator and progressive payment calculator. Upgraders selling a flat first should read selling an HDB to buy a new launch. Test the repayment at a rate above today's. We do not forecast rates.

Plus points for Yishun 10 Redevelopment

• Good MRT connectivity. Yishun MRT is about 160m away, with Northpoint City and the bus interchange on the same corner.
• A fresh 99-year lease on an old address. The new term starts at the lease refresh, so the 1990 start date of the old building does not carry over.
• A small project. About 110 homes means fewer resale competitors in the same block later, and a launch that needs only about 44 buyers to match Canberra Crescent's first day.
• Six primary schools within 1km. Four had spare Phase 2C places in 2025 and 2026; Huamin and Chongfu are the two in demand.
• A strong resale record next door. 234 of 238 recorded resales at North Park Residences made money, at a median 3.6% a year.

Minus points for Yishun 10 Redevelopment

• Moderate–highThe land cost is not fully knownThe $82.5 million purchase price leaves out the lease premium, the biggest unknown here. Each $100 psf ppr of all-in land moves our breakeven by about $127 psf. The mitigant: our proxy, Chencharu Close at $980, is a real price paid in the same district a year earlier.
• ModerateA premium over the building next doorAt $2,180 to $2,460 psf (est.), a buyer pays 13% to 27% more than North Park's recent resales. Buyers may opt for a comparable resale instead. The mitigant is a newer building, a fresh lease and a likely post-harmonised floor area.
• ModerateA large quantum for local upgradersA 1,000 sq ft home at our range costs about $2.18 million to $2.46 million (est.). Yishun five-room flats are valued at about $560 psf on our HDB data, so the step up is roughly four times the price per square foot. The mitigant: two-bedders will cost far less, and the unit mix is not out yet.
• ModerateCompeting launches close byChencharu Central Residences previews 16 January 2027 with about 864 homes, and four EC sites in District 27 follow. A buyer will compare all of them in the same year. The mitigant: none of them is this close to Yishun MRT and Northpoint City.
• Low–moderateA thin rental yieldAbout 2.3% to 2.6% gross (est.) on North Park's rents. The mitigant: most buyers here will live in the home.
• LowFour years of works in a busy town centreDemolition from March 2027 and construction to mid-2031 sit beside the MRT and the mall. It is a disruption for neighbours more than for buyers, who move in after it ends.

Yishun 10 redevelopment dates to watch

1. Jun–Aug 2025Site assembled$48 million for the cinema and $34.5 million for the 10 shop units, about $703 psf ppr on the new floor area.
2. 2 Sep 2026Redevelopment announcedAbout 110 homes, retail podium, facilities deck; launch targeted for mid-2027.
3. 2 Mar 2027Yishun 10 closesThe cinema and shops cease operations; demolition follows.
4. Mid 2027 (target)Preview and price listUnit mix, floor plans and actual pricing. The estimates on this page become facts or get corrected.
5. Mid 2027 (est.)Launch dayThe demand signal, against 40% on day one at Canberra Crescent Residences.
6. Mid 2031 (est.)CompletionPer Frasers' factsheet.

Our read on the Yishun 10 redevelopment

Put as a trade, it reads like this. You pay an estimated 13% to 27% more per square foot than North Park Residences resells for today. In return you get a new building and a fresh 99-year lease on the same corner, 160m from Yishun MRT, with Northpoint City underground and six primary schools within 1km. That suits a Yishun upgrader with cash beyond the flat sale and a family that wants the town centre at the door. It does not suit a household that can buy an EC, a buyer stretched to the last dollar, or anyone buying for rent.

Watch the average launch price first. Near $2,200 psf, the land cost has been passed on fairly and the gap to North Park is about 14%. Near $2,500 or above, Frasers is pricing the location, and the bar for day-one sales rises with it. Then watch how many of the 110 homes go on launch day: about 44 matches Canberra Crescent. We will update this page when the price list is out. For the land and resale comparison in one place, read our Yishun 10 redevelopment review. The nearest rival launch is covered in our Chencharu Central Residences review.

Yishun 10 Redevelopment in brief

• Frasers Property will rebuild Yishun 10 at 51 Yishun Central 1 as about 110 homes over shops, launching mid-2027 (target) and completing mid-2031.
• Frasers paid $82.5 million for the site in 2025, about $703 psf ppr, before an unpublished lease premium.
• Valuing the land at Chencharu Close's $980 psf ppr, our breakeven is about $1,894 psf ppr and our indicative range $2,180 to $2,460 psf.
• North Park Residences next door resold at a median $1,930 psf over the past year; our range is 13% to 27% above it.
• Yishun MRT is about 160m away; Northpoint City is linked underground.
• Six primary schools are within 1km on our estimates; Huamin and Chongfu balloted at Phase 2C, and Chongfu sits 9m inside the line.
• About 44 sales on launch day would match Canberra Crescent's 40%.

So what should you do with this? Decide first whether the corner is worth a premium to you over North Park, because that is the comparison your future buyer will make. If an EC is open to you, price the District 27 ECs alongside. When the price list lands, compare it against $1,930 at North Park and against our range, and check Chongfu on MOE's tools before you count on it.

Sources: Frasers Property press release and factsheet, "Frasers Property launches Yishun 10 Memories ahead of redevelopment" (2 September 2026), and its SGX filing; purchase prices, lease-back and strata details as reported by The Edge Singapore, EdgeProp and Yahoo Finance Singapore (September 2026); Yishun 10's 1992 opening as reported by Stacked Homes; launch results for Canberra Crescent Residences and Lentor Gardens Residences (EdgeProp, 3 August 2025 and 19 July 2026) and Norwood Grand (CDL, 20 October 2024); URA and HDB tender results in our land-sales register; breakeven from the PropertyInsider.sg cost model, with land valued at a proxy; MOE Primary 1 registration results 2025 and 2026 in our schools dataset, with OneMap geocodes for distances; URA caveat data and lodged rental contracts compiled by PropertyInsider.sg; HDB valuation benchmarks and an MOP export compiled by PropertyInsider.sg; IRAS stamp duty schedules and MAS loan rules as at October 2026. The mid-2027 launch is a target, not developer-confirmed. Figures marked (est.) are estimates and may change. Past performance of nearby projects does not predict future results. This page is research, not financial advice. PropertyInsider.sg is an independent research publication; the publisher's related interests are disclosed in our editorial policy.

Page history

• 21 Oct 2026 — Page published after Frasers Property's 2 September 2026 announcement. Site history and purchase prices, unit-size reading, land comparison against Districts 26 and 27, cost stack with a $980 psf ppr land proxy, resale table for seven nearby projects, launch-day benchmarks from three North launches, 2025 and 2026 Phase 2C results for eight schools, rental yield, financing and dates to watch.
• Next scheduled update — when Frasers releases the unit mix and price list, targeted for mid-2027, or earlier if the lease premium is disclosed.

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