The owner of Northpoint City is buying GV Yishun (Yishun 10 multiplex) from GV for $48 million and will lease the property to GV for an 18 month term.
Yishun 10 multiplex opened on May 1992 was GV's first cinema in Singapore, and Asia's first multiplex (multiple screens cinema).
https://www.businesstimes.com.sg/co...ishun-cinema-complex-golden-village-multiplex
Frasers unit to buy S$48 million Yishun cinema complex from Golden Village Multiplex
The property has a carrying value of around S$45.1 million
Jun 3, 2025
[SINGAPORE] A wholly owned subsidiary of Frasers Property has agreed to buy the Yishun cinema complex from Golden Village Multiplex and lease back the property to the cinema chain.
Frasers unit Lion (Singapore) conditionally agreed to purchase the property for S$48 million, Orange Sky Golden Harvest Entertainment said in a statement. Hong Kong-listed Golden Harvest is the parent company of Golden Village Multiplex.
The property at 51 Yishun Central 1 currently houses a 1,477-seat GV multiplex. The 10 cinema halls are on the second and fourth floors of a four-storey shopping-cum-entertainment complex known as Yishun 10.
The deal follows recent news of
Frasers Centrepoint Trust’s (FCT) acquisition of the South Wing of Northpoint City for S$1.17 billion. Frasers Property is the sponsor of FCT.
Following the acquisition, FCT will have full ownership of Northpoint City, said Richard Ng, chief executive of the manager of the trust. “With full control, FCT will be able to implement holistic asset enhancement initiatives and tenant mix strategies to unlock further value across both wings,” he noted. FCT bought the North Wing in 2006.
Upon completion of the latest deal, Lion (Singapore) will lease the property to Golden Village Multiplex for an 18-month term, at a monthly rent of 10 per cent of the cinema operator’s monthly gross sales from business operations at the site.
The purchase price, which excludes goods and services tax and is subject to further adjustments, was determined based on arm’s length negotiations between the parties with reference to the property’s appraised value according to a valuer as at May 28, Orange Sky Golden Harvest Entertainment said.
Based on audited financial statements of the group for the year ended December 2024, the property has a carrying value of around S$45.1 million.
