Market watchers wondered whether developers Frasers Centrepoint had corporate tactical reasons for bidding an impressive $1.4 billion for a prime Yishun plot back in 2013. The developers won the plot by a 47 per cent margin, and speculation was rife that they had plans to integrate the new mixed-use building with their existing Northpoint Mall.
The speculators were right. Slated for completion by 2018, the combined end product, named Northpoint City, was revealed in August 2014. Online property agent New Launch Condo, which features the company’s condos for sale on its website, has also provided a glimpse of the new retail spaces and dining options, which are spread over an area twice the size of that occupied by the original mall.
New Launch Condo is aggressively marketing the residential portion of the development, which will eventually comprise twelve blocks with a total of 920 homes, ranging from five-bedders to studios.Northpark Residences does not list a price, but The Business Times Weekend predicted in a 2014 article that the units would range from $1350 to $1450 per square foot – pretty substantial for a condo located in Yishun.
Frasers Centrepoint Ltd. is promoting the new mall just as aggressively. With over 500 retail outlets, the new Northpoint City will be the largest shopping centre in the north, with more than double the amount of stores found in the original Northpoint Shopping Centre. The new mall is already shaping itself as a destination for the family, and it also offers myriad dining experiences.
peaking at the unveiling of the property in August 2014, CEO of Frasers Centrepoint Group Lim Ee Seng said the company has formed extremely strong ties with Yishun since 1992 when it launched Northpoint Shopping Centre, the first heartland shopping mall in Singapore. He added that Frasers Centrepoint has also been connecting with residents of Nee Soon, in addition to setting trends with Northpoint. Lim said the company actively supports community and social events, naming two initiatives: Rice for a Good Cause and National Day celebrations, as examples.
The new property is attracting buyers for its condos for sale with amenities such as a fully air-conditioned community club, the first of its kind to be located in a shopping mall. Pedestrian traffic comes from the integrated transport hub with a bus interchange within walking distance to the mall.
Purchasers of the Northpark Residences will also have access to childcare centres, a community garden on the roof, the innovative Yishun Public Library, and numerous children’s play and educational areas. Almost 20 schools are located within one kilometre of the development.
For adults, the development boasts a gym, an aqua gym, cabana garden, and a 50m-lap pool. In addition, residents of the condos for sale can also take advantage of the 15.5km cycling path, and the sheltered parking lot that can house up to 300 bicycles.
The developers are also constructing an underground linkway, due to be completed in 2017, which will connect Yishun MRT station to the new bus interchange at Northpoint City. Once completed, it will further enhance the Northpoint property, and possibly increase the value of the Northpark Residences.