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Northern Resi, Northern Retail come up tops in Yishun Ave 4 site tender

A consortium comprising Northern Resi Pte Ltd and Northern Retail Pte Ltd beat four other bidders to offer the highest price for a HDB tender of a mixed commercial/residential site at Yishun Avenue 4.

Its tender price of S$185.09 million translates to S$629.24 per square foot per plot ratio (psf ppr).

The Yishun plot, which has an estimated gross floor area of 27,327 square metres, is the first selected government land sale (GLS) site to be adopting prefabricated prefinished volumetric construction (PPVC), on top of having to meet a certain level of prefabrication under new government rules for the built sector.

KBD Ventures Pte Ltd and Changi Properties Pte Ltd put in a very close second highest bid of S$181.6 million (S$617.37 psf ppr). Sim Lian (Focus) Pte Ltd put in the third highest bid of S$168 million (S$571.14 psf ppr).

The fourth and fifth bidders were Wee Hur Development and KSH Land Development, respectively.