Five adjoining freehold shophouses on Owen Road hit market at $33 mil
The shophouses are fully taken up, stated Cushman & Wakefield and CBRE, which are collectively marketing the properties. They feature 5 commercial units on the ground floor, while the upper floors, which are authorized for Serviced Condominium II (SA2) usage, offer lodging taken care of by The Assembly Place.
“The introduction of brand-new personal housing is most likely to improve the area’s residential profile, bring in a wider group of citizens and sustain the continued uplift in property values and commercial activity,” claimed Giam.
A row of five freehold shophouses in Farrer Park is being offered for sale with an expression of interest (EOI) exercise.
The EOI is going to close up at 3pm on Oct 27.
” 96 Owen Road offers a rare opportunity to obtain a property accommodation asset consisting of five adjacent shophouses inside the city fringe,” said Sophia Lim, Cushman & Wakefield Singapore’s supervisor of capital markets. “The real estate’s SA2 approval, coupled with its range about common shophouse investments, offers investors with quick exposure to Singapore’s growing living sector.”
Giam indicated that the shophouses are close to the Dorset Road Government Land Sale spot that are going to present brand-new homes and more revitalize the community.
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 healthcare facilities at Farrer Park Hospital and Connexion.
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 condo in the first half of 2027.
The shophouses occupy a 6,021 sq ft site zoned “Residential with business in the beginning floor”. It has a plot ratio of 3.0.
Joshua Giam, executive of capital markets at CBRE Singapore, claimed that the ground-floor units could be repositioned for F&B use, based on approvals from the relevant authorities.
Placed at 96 Owen Road, the adjoining 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 around 16,823 sq ft.
