Five adjoining freehold shophouses on Owen Road hit market at $33 mil
The site was granted previously October to a consortium making up UOL Team, Singapore Land Group and Kheng Leong Co. The partners are expected to launch the 428-unit Dorset Gardens apartment in the initial half of 2027.
“The introduction of new private real estate is likely to enhance the area’s residential profile, draw in a more comprehensive market of citizens and support the continued uplift in property values and industrial activity,” claimed Giam.
The shophouses take up a 6,021 sq ft area zoned “Residential with business at first floor”. It has a plot ratio of 3.0.
Found 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 existing total gross floor area of roughly 16,823 sq ft.
One Sophia
The shophouses are fully dwelled, stated Cushman & Wakefield and CBRE, that are collectively marketing the properties. They feature five commercial units on the ground floor, while the upper floors, which are authorized for Serviced Condominium II (SA2) usage, promotion lodging managed by The Assembly Place.
Joshua Giam, executive of capital industry at CBRE Singapore, claimed that the ground-floor units might be repositioned for F&B usage, subject to authorizations from the appropriate authorities.
” 96 Owen Road presents a rare chance to acquire 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 property’s SA2 approval, coupled with its range relative to typical shophouse investments, provides investors with quick exposure to Singapore’s expanding living sector.”
Giam mentioned that the shophouses are near to the Dorset Road Government Land Sale site that will present new homes and more invigorate the neighbourhood.
The shophouses are 150m from Farrer Park MRT Station on the North-East Line. They are also around retail offers at City Square Mall and Mustafa Centre, and health care centers at Farrer Park Hospital and Connexion.
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 finalize at 3pm on Oct 27.
