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 around retail offerings at City Square Mall and Mustafa Centre, and health care centers at Farrer Park Hospital and Connexion.
The shophouses occupy a 6,021 sq ft area zoned “Residential with commercial in the beginning storey”. It has a plot ratio of 3.0.
” 96 Owen Road presents a rare opportunity to acquire a freehold accommodation asset consisting of five adjoining shophouses inside the city fringe,” said Sophia Lim, Cushman & Wakefield Singapore’s director of capital markets. “The real estate’s SA2 approval, coupled with its range about typical shophouse investments, provides investors with quick exposure to Singapore’s growing living sector.”
The shophouses are completely 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, which are accepted for Serviced Condo II (SA2) usage, offer accommodation taken care of by The Assembly Place.
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 occurring overall gross floor area of around 16,823 sq ft.
Joshua Giam, executive of capital markets at CBRE Singapore, claimed that the ground-floor units might be repositioned for F&B use, subject to authorizations from the relevant authorities.
Giam mentioned that the shophouses are near to the Dorset Road Government Land Sale site that will present new homes and even more invigorate the community.
A row of five freehold shophouses in Farrer Park is being marketed via an expression of interest (EOI) exercise.
The site was granted last 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 apartment in the initial half of 2027.
“The intro of new personal housing is most likely to boost the location’s residential profile, bring in a more comprehensive market of citizens and support the continued uplift in property values and commercial activity,” claimed Giam.
The EOI is going to finalize at 3pm on Oct 27.
