Five adjoining freehold shophouses on Owen Road hit market at $33 mil
Joshua Giam, executive of capital markets at CBRE Singapore, claimed that the ground-floor units could be repositioned for F&B usage, subject to authorizations from the relevant authorities.
The shophouses occupy a 6,021 sq ft area zoned “Residential with business initially storey”. It has a plot ratio of 3.0.
The shophouses are totally dwelled, stated Cushman & Wakefield and CBRE, which are collectively marketing the real estates. They feature 5 commercial units on the ground floor, while the upper floors, that are approved for Serviced Condo II (SA2) use, offer lodging handled by The Assembly Place.
The site was awarded previously 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 initial half of 2027.
“The introduction of brand-new private real estate is most likely to enhance the area’s residential profile, attract a broader market of citizens and sustain the ongoing uplift in property values and industrial activity,” claimed Giam.
Giam indicated that the shophouses are near to the Dorset Road Government Land Sale location that will present new homes and further renew the neighbourhood.
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.
” 96 Owen Road offers a rare chance to acquire a property accommodation asset consisting of five adjoining 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 scale relative to typical shophouse investments, provides investors with immediate exposure to Singapore’s expanding living sector.”
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 total gross floor area of around 16,823 sq ft.
The EOI will close at 3pm on Oct 27.
A row of five estate shophouses in Farrer Park is being marketed through an expression of interest (EOI) exercise.
