Five adjoining freehold shophouses on Owen Road hit market at $33 mil
The site was presented 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 intro of brand-new private housing is most likely to improve the location’s residential profile, draw in a broader demographic of homeowners and sustain the continued uplift in property values and business activity,” said Giam.
Joshua Giam, executive of capital markets at CBRE Singapore, said that the ground-floor units could be rearranged for F&B usage, subject to authorizations from the relevant authorities.
Giam indicated that the shophouses are close to the Dorset Road Government Land Sale location that are going to introduce new homes and even more revitalize the neighbourhood.
” 96 Owen Road provides a rare opportunity to obtain a property accommodation asset comprising five adjacent 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 instant exposure to Singapore’s expanding living sector.”
Located at 96 Owen Road, the adjoining two-storey shophouses with four-storey rear extensions have a guide price of $33 million, or $1,962 psf on their occurring complete gross floor area of about 16,823 sq ft.
The shophouses utilize a 6,021 sq ft site zoned “Residential with business in the beginning storey”. It has a plot ratio of 3.0.
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 health care facilities at Farrer Park Hospital and Connexion.
A row of five estate shophouses in Farrer Park is being marketed via an expression of interest (EOI) exercise.
The EOI will close up at 3pm on Oct 27.
The shophouses are completely taken up, said Cushman & Wakefield and CBRE, which are collectively marketing the properties. They feature 5 commercial units on the ground floor, whilst the upper levels, that are approved for Serviced Condominium II (SA2) usage, promotion lodging handled by The Assembly Place.
