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

The shophouses occupy a 6,021 sq ft site zoned “Residential with commercial at first floor”. It has a plot ratio of 3.0.

” 96 Owen Road offers a rare opportunity to obtain a freehold accommodation asset comprising five adjoining shophouses inside the city fringe,” said Sophia Lim, Cushman & Wakefield Singapore’s director of capital markets. “The property’s SA2 approval, coupled with its scale relative to common shophouse investments, provides investors with immediate exposure to Singapore’s expanding living sector.”

The shophouses are 150m from Farrer Park MRT Station on the North-East Line. They are also close to retail offerings at City Square Mall and Mustafa Centre, and healthcare facilities at Farrer Park Hospital and Connexion.

The shophouses are completely taken up, claimed Cushman & Wakefield and CBRE, which are jointly marketing the properties. They feature five commercial units on the ground floor, while the upper levels, which are authorized for Serviced Condo II (SA2) usage, offer lodging taken care of by The Assembly Place.

Newport Residences City Developments (CDL)

Giam mentioned that the shophouses are close to the Dorset Road Government Land Sale location that will introduce brand-new homes and even more invigorate the area.

“The introduction of new private real estate is likely to improve the area’s residential profile, bring in a wider market of locals and support the continued uplift in property values and commercial activity,” stated Giam.

Placed 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 total gross floor area of about 16,823 sq ft.

The EOI is going to close at 3pm on Oct 27.

Joshua Giam, director of capital industry at CBRE Singapore, stated that the ground-floor units might be repositioned for F&B usage, based on approvals from the relevant authorities.

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 first half of 2027.

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