Five adjoining freehold shophouses on Owen Road hit market at $33 mil
The shophouses cover a 6,021 sq ft area zoned “Residential with commercial in the beginning floor”. It has a plot ratio of 3.0.
Giam mentioned that the shophouses are near to the Dorset Road Government Land Sale location that will introduce brand-new homes and even more renew the area.
Joshua Giam, administrator of capital markets at CBRE Singapore, claimed that the ground-floor units might be rearranged for F&B use, subject to approvals from the relevant authorities.
The shophouses are 150m from Farrer Park MRT Station on the North-East Line. They are also near retail offerings at City Square Mall and Mustafa Centre, and medical care centers at Farrer Park Hospital and Connexion.
Placed at 96 Owen Road, the adjacent two-storey shophouses with four-storey rear extensions have a guide price of $33 million, or $1,962 psf on their existing complete gross floor area of approximately 16,823 sq ft.
The shophouses are totally dwelled, stated Cushman & Wakefield and CBRE, that are collectively marketing the properties. They feature five commercial units on the ground floor, whilst the upper floors, that are accepted for Serviced Apartment II (SA2) use, promotion lodging handled by The Assembly Place.
“The intro of new private real estate is likely to improve the area’s residential profile, bring in a wider market of citizens and support the continued uplift in property values and business activity,” stated Giam.
” 96 Owen Road offers a rare opportunity to obtain a freehold accommodation asset comprising 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 scale relative to regular shophouse investments, offers investors with instant exposure to Singapore’s expanding living sector.”
A row of five freehold 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 last October to a consortium making up UOL Team, Singapore Land Group and Kheng Leong Co. The partners are anticipated to launch the 428-unit Dorset Gardens condominium in the first half of 2027.
