Five adjoining freehold shophouses on Owen Road hit market at $33 mil
The site was granted last October to a consortium comprising UOL Team, Singapore Land Group and Kheng Leong Co. The partners are expected to launch the 428-unit Dorset Gardens condominium in the initial half of 2027.
” 96 Owen Road provides a rare chance to acquire a freehold accommodation asset comprising 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 relative to common shophouse investments, offers investors with immediate exposure to Singapore’s expanding living sector.”
“The intro of brand-new private housing is likely to boost the location’s residential profile, bring in a wider demographic of citizens and sustain the continued uplift in property values and business activity,” said Giam.
The shophouses are fully dwelled, claimed Cushman & Wakefield and CBRE, which are jointly marketing the real estates. They feature 5 commercial units on the ground floor, while the upper floors, that are approved for Serviced Condominium II (SA2) usage, promotion accommodation handled by The Assembly Place.
Giam indicated that the shophouses are near to the Dorset Road Government Land Sale spot that are going to introduce brand-new homes and further renew the area.
The shophouses are 150m from Farrer Park MRT Station on the North-East Line. They are also near retail offers at City Square Mall and Mustafa Centre, and health care establishments at Farrer Park Hospital and Connexion.
A row of five freehold shophouses in Farrer Park is being marketed with an expression of interest (EOI) exercise.
Joshua Giam, executive of capital markets at CBRE Singapore, said that the ground-floor units could be rearranged for F&B use, based on approvals from the relevant authorities.
Placed 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 existing total gross floor area of around 16,823 sq ft.
The EOI is going to close up at 3pm on Oct 27.
The shophouses occupy a 6,021 sq ft site zoned “Residential with commercial in the beginning storey”. It has a plot ratio of 3.0.
