Five adjoining freehold shophouses on Owen Road hit market at $33 mil
The shophouses are totally taken up, said Cushman & Wakefield and CBRE, that are jointly marketing the properties. They feature 5 commercial units on the ground floor, while the upper floors, which are authorized for Serviced Condominium II (SA2) use, promotion accommodation handled by The Assembly Place.
The EOI is going to close at 3pm on Oct 27.
Giam mentioned that the shophouses are near to the Dorset Road Government Land Sale spot that are going to present new homes and further rejuvenate the area.
Found at 96 Owen Road, the adjacent two-storey shophouses with four-storey rear extensions have a guide rate of $33 million, or $1,962 psf on their occurring complete gross floor area of approximately 16,823 sq ft.
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.
The site was presented last October to a consortium comprising UOL Team, Singapore Land Group and Kheng Leong Co. The partners are expected to launch the 428-unit Dorset Gardens condo in the very first half of 2027.
“The introduction of new private housing is most likely to boost the location’s residential profile, bring in a broader demographic of homeowners and support the continued uplift in property values and commercial activity,” said Giam.
The shophouses utilize a 6,021 sq ft site zoned “Residential with commercial initially storey”. It has a plot ratio of 3.0.
A row of five freehold shophouses in Farrer Park is being offered for sale through an expression of interest (EOI) exercise.
Joshua Giam, administrator of capital markets at CBRE Singapore, said that the ground-floor units could be repositioned for F&B use, subject to authorizations from the appropriate authorities.
” 96 Owen Road presents a rare opportunity to acquire a property accommodation asset comprising five adjoining 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 typical shophouse investments, offers investors with quick exposure to Singapore’s growing living sector.”
