Five adjoining freehold shophouses on Owen Road hit market at $33 mil
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 facilities at Farrer Park Hospital and Connexion.
” 96 Owen Road presents a rare chance to acquire a freehold accommodation asset making up five adjoining shophouses within the city fringe,” said Sophia Lim, Cushman & Wakefield Singapore’s director of capital markets. “The property’s SA2 approval, coupled with its range about regular shophouse investments, provides investors with immediate exposure to Singapore’s expanding living sector.”
A row of five estate shophouses in Farrer Park is being marketed through an expression of interest (EOI) exercise.
The EOI will finalize at 3pm on Oct 27.
The shophouses cover a 6,021 sq ft area zoned “Residential with commercial initially floor”. It has a plot ratio of 3.0.
Located at 96 Owen Road, the adjoining two-storey shophouses with four-storey rear extensions have a guide price of $33 million, or $1,962 psf on their presenting total gross floor area of approximately 16,823 sq ft.
The site was presented previously October to a consortium making up UOL Group, Singapore Land Group and Kheng Leong Co. The partners are anticipated to launch the 428-unit Dorset Gardens condominium in the very first half of 2027.
Joshua Giam, administrator of capital industry at CBRE Singapore, said that the ground-floor units could be repositioned for F&B usage, based on authorizations from the appropriate authorities.
The shophouses are totally dwelled, claimed Cushman & Wakefield and CBRE, that are jointly marketing the properties. They feature five commercial units on the ground floor, while the upper floors, that are approved for Serviced Condo II (SA2) usage, offer accommodation managed by The Assembly Place.
Giam noted that the shophouses are near to the Dorset Road Government Land Sale location that will present new homes and even more invigorate the neighbourhood.
“The introduction of new private housing is most likely to boost the location’s residential profile, draw in a more comprehensive market of citizens and support the continued uplift in property values and business activity,” said Giam.
