Five adjoining freehold shophouses on Owen Road hit market at $33 mil

The shophouses are totally dwelled, said Cushman & Wakefield and CBRE, which are jointly marketing the properties. They feature five commercial units on the ground floor, while the upper levels, that are authorized for Serviced Condo II (SA2) usage, promotion lodging handled by The Assembly Place.

A row of five property shophouses in Farrer Park is being offered for sale with an expression of interest (EOI) exercise.

The EOI will close at 3pm on Oct 27.

Placed 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 occurring complete gross floor area of around 16,823 sq ft.

Bloomsbury Residences Singapore

The shophouses take up a 6,021 sq ft area zoned “Residential with business in the beginning storey”. It has a plot ratio of 3.0.

“The introduction of new personal housing is most likely to improve the area’s residential profile, draw in a wider market of locals and support the ongoing uplift in property values and commercial activity,” said Giam.

The site was granted 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 condo in the first half of 2027.

” 96 Owen Road provides a rare chance to acquire a freehold accommodation asset making up five adjoining shophouses within the city fringe,” said Sophia Lim, Cushman & Wakefield Singapore’s supervisor of capital markets. “The real estate’s SA2 approval, coupled with its range about common shophouse investments, provides investors with quick exposure to Singapore’s expanding living sector.”

Giam noted that the shophouses are near to the Dorset Road Government Land Sale site that will present new homes and further invigorate the community.

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 healthcare establishments at Farrer Park Hospital and Connexion.

Joshua Giam, executive of capital industry at CBRE Singapore, stated that the ground-floor units might be rearranged for F&B use, based on authorizations from the appropriate authorities.