Five adjoining freehold shophouses on Owen Road hit market at $33 mil
Giam noted that the shophouses are close to the Dorset Road Government Land Sale site that are going to present new homes and more invigorate the area.
The site was awarded previously October to a consortium consisting of UOL Team, Singapore Land Group and Kheng Leong Co. The partners are anticipated to launch the 428-unit Dorset Gardens condo in the initial half of 2027.
Joshua Giam, executive of capital markets at CBRE Singapore, claimed that the ground-floor units could be repositioned for F&B usage, based on approvals from the appropriate authorities.
A row of five property shophouses in Farrer Park is being marketed through an expression of interest (EOI) exercise.
The EOI is going to close up at 3pm on Oct 27.
The shophouses are completely taken up, claimed Cushman & Wakefield and CBRE, which are collectively marketing the real estates. They feature 5 commercial units on the ground floor, whilst the upper floors, which are accepted for Serviced Flat II (SA2) usage, promotion accommodation taken care of by The Assembly Place.
Located 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 presenting complete gross floor area of about 16,823 sq ft.
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 healthcare centers at Farrer Park Hospital and Connexion.
” 96 Owen Road provides a rare opportunity to obtain a property accommodation asset making up 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 scale about typical shophouse investments, provides investors with instant exposure to Singapore’s expanding living sector.”
The shophouses cover a 6,021 sq ft site zoned “Residential with business initially floor”. It has a plot ratio of 3.0.
“The introduction of brand-new personal real estate is most likely to boost the location’s residential profile, attract a broader group of locals and support the ongoing uplift in property values and business activity,” stated Giam.
