Yishun 10 will become 110 homes with a fresh 99-year lease

Frasers Property will shut Yishun 10 on 2 March 2027 and replace Singapore’s first multiplex with about 110 homes over a ground-floor retail podium, launching in mid-2027 on a refreshed 99-year lease. It is the first private residential launch in Yishun Central in more than a decade, and it sits at the doorstep of Yishun MRT.

In a release on 2 September 2026, Frasers Property said the four-storey cinema and retail building at 51 Yishun Central 1 will be redeveloped into a mixed-use project with approximately 110 residential units, a retail podium at street level and a landscaped facilities deck on the second storey. The site measures 39,125 sq ft and the new building has a gross floor area of 117,376 sq ft. Sales are targeted for the middle of 2027, with completion in mid-2031. Frasers will keep managing the mall until operations cease on 2 March 2027.

The address is the selling point. The site is next to Yishun MRT station and the Yishun Integrated Transport Hub, and Frasers says residents will reach Northpoint City through the existing underground pedestrian network. Northpoint City, the largest suburban mall in the north, is held by the same group through Frasers Centrepoint Trust.

How Frasers put the site together

The developer bought the Golden Village cineplex from its Hong Kong-listed owner in June 2025 for $48 million, as reported by The Business Times. Two months later it bought the building’s ten strata retail lots from Frasers Centrepoint Trust for $34.5 million, according to Frasers’ own SGX announcement. That gave it the whole building.

On 8 May 2026 the Urban Redevelopment Authority published a proposed Master Plan amendment to rezone the plot from Commercial to Residential with Commercial at 1st Storey, at a gross plot ratio of 3.0. At the time, Savills’ Alan Cheong estimated the site could yield 90 to 100 private homes, while Huttons Asia’s Lee Sze Teck put the number at about 20. The plan Frasers has now tabled lands at 110.

About $82.5 million bought the whole building, roughly $700 for every square foot of the 117,376 sq ft the new project can build, before any lease top-up premium or construction. Sources: Frasers Property SGX announcement, 25 August 2025; cineplex price as reported by The Business Times. Chart: HomeAsset.

The lease is the detail to watch

Yishun 10 sits on a 99-year lease that started on 1 April 1990, according to Frasers’ August 2025 announcement. That leaves about 63 years today and about 58 by the time the new building is finished. Frasers’ release lists the tenure of the new project as 99-year leasehold “upon lease refresh”. In plain terms, the developer intends to apply to the Singapore Land Authority to top the lease back up to a full 99 years, paying a premium for the extra years.

For a buyer, that changes the product entirely. A condo with 58 years left is a different thing from a condo with 99: shorter leases restrict how much CPF you can use and how long a bank will lend for, and they shrink the pool of buyers you can sell to later. A refreshed lease puts this project on the same footing as a home built on land sold by the government. Frasers has not said when the refresh will be granted or on what terms, so the lease start date is the first thing to confirm when the showflat opens.

The site’s lease runs from 1 April 1990. Without a top-up, a 2031 buyer would inherit about 58 years; Frasers says the project will carry a fresh 99. Sources: Frasers Property release, 2 September 2026; Frasers Property SGX announcement, 25 August 2025. Chart: HomeAsset.

Why 110 units is a small number

The last private launch in Yishun Central was North Park Residences, the 920-unit condominium Frasers built above Northpoint City, which went on sale in 2015. A 110-unit development with its own retail podium is boutique by comparison, and small integrated projects next to an MRT station tend to be priced as such. Frasers has given no price guidance, and none should be assumed until the launch.

Yishun 10 Memories

The building opened in May 1992 as Singapore’s first multiplex, behind a metal-clad facade by Australian architect Geoff Malone. Alongside the redevelopment news, Frasers has launched Yishun 10 Memories with conservation firm Studio Lapis, with early plans to upcycle selected artefacts and work community stories and murals into the new development. Former and current patrons, residents and tenants can email their photographs, memorabilia and stories to [email protected] by 31 October 2026. Soon Su Lin, chief executive of Frasers Property Singapore, said the building holds a special place for many people who grew up around it, and that the initiative is meant to carry those memories into the site’s next chapter.

What this means for you

• Upgraders in Yishun and Sembawang get a first look at a new MRT-doorstep condo since 2015, but 110 units will go quickly if the pricing is sensible. If this is on your list, use the months before mid-2027 to work out your flat’s sale timing and your loan headroom under the Total Debt Servicing Ratio, which caps total monthly repayments at 55% of gross income.
• Ask for the lease start date in writing at the showflat. “Upon lease refresh” is a plan, and the difference between a fresh 99 years and 58 is the difference between full CPF use and a shrinking buyer pool.
• Owners at North Park Residences will get a new price benchmark next door in 2027. That is useful if you are thinking of selling in the next two years, and worth watching before you set an asking price.
• The cinema keeps running until 2 March 2027, so there is time for one last visit. Contributions to the memories archive close on 31 October 2026.