13 freehold shophouses up for joint-collective sale

Jones Lang LaSalle (JLL) has put up a row of 13 freehold shophouses located along Owen Road up for joint-collective sale by public tender.

Zoned for “Residential with Commercial at 1st Storey”, the 15,338-sq-ft site has a gross plot ratio of up to 3.0 and can reach five storeys. It can yield a potential gross floor area of 46,164 sq ft, subject to a development charge of $1.25 million.

The site has a potential yield of about 36 apartment units, each at an average size of 1,000 sq ft, and about 11 commercial units, each at an average size of 800 sq ft.

Located along Owen Road at the junction of Dorset Road and Owen Road, the row of two-storey pre-war shophouses is within walking distance to Farrer Park MRT Station, the upcoming Connexion Building that comprises a medical centre, conference centre, hotel and retail complex, as well as City Square Mall and various other amenities.

The site is well served by main arterial roads and expressways, with the Central Expressway (CTE), Serangoon Road and Bukit Timah Road providing easy accessibility.

“The site is located in a well-established area with a wide array of amenities and facilities, in a vibrant area rich in diversity, history and heritage. In addition, the area around Owen Road is undergoing urban rejuvenation and renewal. With the increasing take-up rate of new launches in the vicinity, we expect to see strong interest,” said Ms. Stella Hoh, National Director and Head of Investments at JLL, which is the sole marketing agent for the property.

“The site’s close proximity to the central part of Singapore and Central Business District enhances its attractiveness. Accessibility is also further enhanced by the Farrer Park MRT Station, which is a mere 5-minute walk away from the site,” added Ms. Hoh.

The tender for the site closes on September 23.