Five adjoining freehold shophouses on Owen Road hit market at $33 mil
The site was awarded last October to a consortium comprising UOL Team, Singapore Land Group and Kheng Leong Co. The partners are anticipated to launch the 428-unit Dorset Gardens condominium in the very first half of 2027.
“The intro of brand-new personal real estate is likely to boost the location’s residential profile, attract a more comprehensive demographic of locals and support the ongoing uplift in property values and business activity,” said Giam.
The shophouses take up a 6,021 sq ft area zoned “Residential with business initially storey”. It has a plot ratio of 3.0.
The EOI will finalize at 3pm on Oct 27.
The shophouses are 150m from Farrer Park MRT Station on the North-East Line. They are also around retail services at City Square Mall and Mustafa Centre, and health care establishments at Farrer Park Hospital and Connexion.
” 96 Owen Road provides a rare opportunity to obtain a freehold 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 scale about regular shophouse investments, offers investors with immediate exposure to Singapore’s growing living sector.”
Placed at 96 Owen Road, the adjacent 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 around 16,823 sq ft.
A row of five freehold shophouses in Farrer Park is being marketed through an expression of interest (EOI) exercise.
Giam mentioned that the shophouses are near to the Dorset Road Government Land Sale location that are going to introduce brand-new homes and even more invigorate the neighbourhood.
Joshua Giam, administrator of capital industry at CBRE Singapore, stated that the ground-floor units could be rearranged for F&B use, subject to authorizations from the appropriate authorities.
The shophouses are fully taken up, claimed Cushman & Wakefield and CBRE, that are collectively marketing the real estates. They feature 5 commercial units on the ground floor, while the upper floors, which are accepted for Serviced Condo II (SA2) use, promotion lodging managed by The Assembly Place.
