Five adjoining freehold shophouses on Owen Road hit market at $33 mil
Placed at 96 Owen Road, the adjoining 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 around 16,823 sq ft.
” 96 Owen Road provides a rare chance to obtain a freehold accommodation asset consisting of five adjacent shophouses within 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 typical shophouse investments, provides investors with immediate exposure to Singapore’s growing living sector.”
Joshua Giam, administrator of capital industry at CBRE Singapore, claimed that the ground-floor units might be rearranged for F&B use, subject to approvals from the relevant authorities.
The shophouses are totally occupied, claimed Cushman & Wakefield and CBRE, that are jointly marketing the properties. They feature five commercial units on the ground floor, while the upper floors, which are authorized for Serviced Apartment II (SA2) usage, promotion accommodation handled by The Assembly Place.
Giam indicated that the shophouses are near to the Dorset Road Government Land Sale site that are going to introduce new homes and further renew the area.
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 first half of 2027.
“The introduction of brand-new personal real estate is likely to enhance the location’s residential profile, bring in a wider market of citizens and support the continued uplift in property values and industrial activity,” claimed Giam.
The EOI is going to finalize at 3pm on Oct 27.
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 medical care centers at Farrer Park Hospital and Connexion.
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.
A row of five freehold shophouses in Farrer Park is being marketed through an expression of interest (EOI) exercise.
