Five adjoining freehold shophouses on Owen Road hit market at $33 mil
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 occurring complete gross floor area of roughly 16,823 sq ft.
Giam noted that the shophouses are near to the Dorset Road Government Land Sale site that will introduce new homes and even more renew the neighbourhood.
The shophouses take up a 6,021 sq ft site zoned “Residential with business at first storey”. It has a plot ratio of 3.0.
” 96 Owen Road offers a rare chance to obtain a freehold accommodation asset comprising five adjacent shophouses within the city fringe,” said Sophia Lim, Cushman & Wakefield Singapore’s supervisor of capital markets. “The property’s SA2 approval, coupled with its range about common shophouse investments, offers investors with quick exposure to Singapore’s expanding living sector.”
The site was awarded last 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 very first half of 2027.
The shophouses are 150m from Farrer Park MRT Station on the North-East Line. They are also near retail services at City Square Mall and Mustafa Centre, and health care establishments at Farrer Park Hospital and Connexion.
The EOI will finalize at 3pm on Oct 27.
A row of five freehold shophouses in Farrer Park is being offered for sale through an expression of interest (EOI) exercise.
The shophouses are fully taken up, claimed Cushman & Wakefield and CBRE, that are jointly marketing the properties. They feature 5 commercial units on the ground floor, whilst the upper floors, that are authorized for Serviced Condo II (SA2) use, offer accommodation handled by The Assembly Place.
Joshua Giam, executive of capital industry at CBRE Singapore, said that the ground-floor units might be repositioned for F&B usage, subject to authorizations from the appropriate authorities.
“The intro of new personal housing is likely to improve the location’s residential profile, bring in a more comprehensive market of locals and support the continued uplift in property values and business activity,” claimed Giam.
