Five adjoining freehold shophouses on Owen Road hit market at $33 mil
The shophouses are fully dwelled, claimed Cushman & Wakefield and CBRE, that are jointly marketing the properties. They feature 5 commercial units on the ground floor, while the upper levels, which are authorized for Serviced Condo II (SA2) usage, offer lodging handled by The Assembly Place.
“The intro of brand-new personal housing is likely to improve the location’s residential profile, bring in a more comprehensive group of locals and sustain the ongoing uplift in property values and commercial activity,” claimed Giam.
Giam indicated that the shophouses are close to the Dorset Road Government Land Sale location that are going to present brand-new homes and even more renew the community.
The shophouses utilize a 6,021 sq ft area zoned “Residential with business initially floor”. It has a plot ratio of 3.0.
A row of five estate shophouses in Farrer Park is being offered for sale via an expression of interest (EOI) exercise.
The EOI is going to close at 3pm on Oct 27.
The site was presented previously October to a consortium comprising UOL Group, Singapore Land Group and Kheng Leong Co. The partners are anticipated to launch the 428-unit Dorset Gardens condominium in the initial half of 2027.
The shophouses are 150m from Farrer Park MRT Station on the North-East Line. They are also close to retail offers at City Square Mall and Mustafa Centre, and healthcare facilities at Farrer Park Hospital and Connexion.
” 96 Owen Road offers a rare opportunity to acquire a property accommodation asset consisting of five adjoining shophouses inside the city fringe,” said Sophia Lim, Cushman & Wakefield Singapore’s director of capital markets. “The real estate’s SA2 approval, coupled with its scale relative to regular shophouse investments, offers investors with immediate exposure to Singapore’s expanding living sector.”
Joshua Giam, director of capital industry at CBRE Singapore, stated that the ground-floor units might be rearranged for F&B use, subject to approvals from the relevant authorities.
Located at 96 Owen Road, the adjoining two-storey shophouses with four-storey rear extensions have a guide rate of $33 million, or $1,962 psf on their existing total gross floor area of approximately 16,823 sq ft.
