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

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

Found 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 total gross floor area of around 16,823 sq ft.

“The introduction of brand-new private real estate is likely to improve the area’s residential profile, bring in a broader demographic of locals and sustain the ongoing uplift in property values and industrial activity,” said Giam.

The shophouses are completely taken up, claimed Cushman & Wakefield and CBRE, that are collectively marketing the properties. They feature five commercial units on the ground floor, whilst the upper floors, that are accepted for Serviced Condo II (SA2) usage, offer lodging managed by The Assembly Place.

Thomson Reserve UOL, Capitaland and Singapore Land

The site was granted previously October to a consortium making up 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.

The shophouses utilize a 6,021 sq ft site zoned “Residential with business initially storey”. It has a plot ratio of 3.0.

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

” 96 Owen Road offers a rare chance to obtain a freehold accommodation asset making up five adjoining 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 common shophouse investments, provides investors with quick 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.

Giam indicated that the shophouses are near to the Dorset Road Government Land Sale location that will introduce brand-new homes and even more invigorate the neighbourhood.

The EOI will finalize at 3pm on Oct 27.