Five adjoining freehold shophouses on Owen Road hit market at $33 mil
The shophouses are totally dwelled, stated Cushman & Wakefield and CBRE, which are collectively marketing the real estates. They feature 5 commercial units on the ground floor, whilst the upper levels, that are accepted for Serviced Apartment II (SA2) use, offer lodging taken care of by The Assembly Place.
Found at 96 Owen Road, the adjacent two-storey shophouses with four-storey rear extensions have a guide cost of $33 million, or $1,962 psf on their presenting total gross floor area of about 16,823 sq ft.
The EOI is going to finalize at 3pm on Oct 27.
” 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 director of capital markets. “The real estate’s SA2 approval, coupled with its scale about common shophouse investments, provides investors with immediate exposure to Singapore’s growing living sector.”
The shophouses utilize a 6,021 sq ft site zoned “Residential with commercial in the beginning floor”. It has a plot ratio of 3.0.
The site was granted last October to a consortium consisting of UOL Group, Singapore Land Group and Kheng Leong Co. The partners are anticipated to launch the 428-unit Dorset Gardens apartment in the first half of 2027.
Meyer Blue UOL Group & Singapore Land
Joshua Giam, administrator of capital markets at CBRE Singapore, stated that the ground-floor units could be repositioned for F&B usage, subject to authorizations from the appropriate authorities.
Giam noted that the shophouses are next to the Dorset Road Government Land Sale location that will present brand-new homes and even more invigorate the neighbourhood.
“The introduction of brand-new personal real estate is most likely to enhance the location’s residential profile, draw in a broader market of residents and sustain the continued uplift in property values and business activity,” claimed Giam.
A row of five property shophouses in Farrer Park is being marketed via an expression of interest (EOI) exercise.
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 medical care establishments at Farrer Park Hospital and Connexion.
