Five adjoining freehold shophouses on Owen Road hit market at $33 mil
The shophouses are fully occupied, claimed Cushman & Wakefield and CBRE, that are collectively marketing the properties. They feature five commercial units on the ground floor, while the upper levels, that are approved for Serviced Flat II (SA2) usage, promotion accommodation handled by The Assembly Place.
Found at 96 Owen Road, the adjacent two-storey shophouses with four-storey rear extensions have a guide cost of $33 million, or $1,962 psf on their existing complete gross floor area of roughly 16,823 sq ft.
Joshua Giam, executive of capital markets at CBRE Singapore, claimed that the ground-floor units could be repositioned for F&B use, based on authorizations from the relevant authorities.
The site was awarded last October to a consortium consisting of UOL Team, Singapore Land Group and Kheng Leong Co. The partners are anticipated to launch the 428-unit Dorset Gardens apartment in the first half of 2027.
A row of five estate shophouses in Farrer Park is being marketed with an expression of interest (EOI) exercise.
” 96 Owen Road provides a rare chance to obtain a freehold accommodation asset making up five adjacent shophouses inside the city fringe,” said Sophia Lim, Cushman & Wakefield Singapore’s director of capital markets. “The property’s SA2 approval, coupled with its range relative to common shophouse investments, offers investors with immediate exposure to Singapore’s expanding living sector.”
Giam indicated that the shophouses are close to the Dorset Road Government Land Sale spot that will introduce new homes and more rejuvenate the neighbourhood.
“The introduction of new private real estate is likely to boost the location’s residential profile, attract a more comprehensive group of homeowners and support the continued uplift in property values and business activity,” said Giam.
The EOI will close up at 3pm on Oct 27.
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 health care centers at Farrer Park Hospital and Connexion.
The shophouses take up a 6,021 sq ft area zoned “Residential with commercial at first storey”. It has a plot ratio of 3.0.
