Five adjoining freehold shophouses on Owen Road hit market at $33 mil
The site was presented previously October to a consortium consisting of UOL Group, Singapore Land Group and Kheng Leong Co. The partners are expected to launch the 428-unit Dorset Gardens apartment in the first half of 2027.
Placed at 96 Owen Road, the adjoining two-storey shophouses with four-storey rear extensions have a guide cost of $33 million, or $1,962 psf on their occurring complete gross floor area of approximately 16,823 sq ft.
The EOI is going to close up at 3pm on Oct 27.
The shophouses occupy a 6,021 sq ft area zoned “Residential with commercial initially storey”. It has a plot ratio of 3.0.
“The intro of new private real estate is likely to boost the area’s residential profile, draw in a more comprehensive demographic of residents and sustain the continued uplift in property values and business activity,” stated Giam.
The shophouses are fully dwelled, claimed Cushman & Wakefield and CBRE, which are collectively marketing the real estates. They feature five commercial units on the ground floor, while the upper levels, which are approved for Serviced Condo II (SA2) use, offer accommodation handled by The Assembly Place.
Giam mentioned that the shophouses are close to the Dorset Road Government Land Sale spot that will introduce new homes and even more rejuvenate the area.
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 healthcare establishments at Farrer Park Hospital and Connexion.
A row of five estate shophouses in Farrer Park is being offered for sale via an expression of interest (EOI) exercise.
” 96 Owen Road offers a rare chance to obtain a freehold accommodation asset consisting of five adjacent shophouses within 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, provides investors with instant exposure to Singapore’s growing living sector.”
Joshua Giam, administrator of capital markets at CBRE Singapore, stated that the ground-floor units might be rearranged for F&B use, subject to authorizations from the relevant authorities.
