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

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

The shophouses are fully occupied, stated Cushman & Wakefield and CBRE, that are collectively marketing the properties. They feature 5 commercial units on the ground floor, while the upper levels, that are approved for Serviced Apartment II (SA2) use, offer lodging managed by The Assembly Place.

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

” 96 Owen Road offers a rare chance to obtain a freehold accommodation asset comprising five adjoining shophouses within the city fringe,” said Sophia Lim, Cushman & Wakefield Singapore’s supervisor 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 growing living sector.”

Giam noted that the shophouses are next to the Dorset Road Government Land Sale site that will present brand-new homes and even more renew the neighbourhood.

Springleaf Residence condominium

Joshua Giam, executive of capital markets at CBRE Singapore, stated that the ground-floor units could be repositioned for F&B usage, subject to approvals from the relevant authorities.

The site was presented last 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 very first half of 2027.

“The intro of new personal housing is most likely to boost the area’s residential profile, attract a broader market of citizens and sustain the ongoing uplift in property values and commercial activity,” claimed Giam.

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

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

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