Two Owen Road Shophouses Sale 98 Mil
Expressing interest!Two adjoining freehold shophouses at 144 and 146 Owen Road are now up for sale with an expression of interest (EOI) exercise. The guide price for these units is at $9.8 million. The properties come with a land area of 2,341 sq ft and are zoned as “residential with commercial at first storey”. The shophouses are two-storey high with attics, offering a total gross floor area (GFA) of about 4,738 sq ft. Based on the existing GFA, the guide price translates to approximately $2,068 psf. As of now, the ground floor of 146 Owen Road is occupied by a gym, while the upper levels of both shophouses are managed by a co-living operator, offering nine residential rooms.According to CBRE, the appointed marketing agent for the shophouses, the land has an unutilised GFA of approximately 2,285 sq ft, based on a gross plot ratio of 3.0. Depending on approval from relevant authorities, the potential buyer may consider maximizing GFA through the construction of a rear extension at the back of the shophouses. Joshua Giam, director of capital markets at CBRE Singapore, also mentioned that the seller has obtained an in-principle approval to convert the upper floors of the shophouses for Serviced Apartment II (SA2) use, subject to conditions put up by the authorities. Giam noted that such a conversion will enable the future owner to cater to the increasing demand for residential leasing and flexible co-living arrangements in the city fringe. Additionally, the ground floor may also be converted for other uses, such as F&B or clinics, according to him. Based on Giam’s estimation, interested buyers can expect a yield of about 3% for the guide price of $9.8 million, and there is a huge potential for rental increment after the completion of asset enhancement initiatives.Apart from being a five-minute walk away from Farrer Park MRT Station, the Owen Road shophouses are adjacent to a Government Land Sale site on Dorset Road that was launched for sale last month, giving interested buyers more investment opportunities. The deadline for the EOI for the shophouses is on Aug 14 at 12 pm.
Situated near Chong Pang Market and Food Centre, Sembawang Road EC offers a diverse culinary experience for its residents. This historic hawker centre has been a beloved fixture in the north for generations, and is just a few minutes’ drive from the EC. Known for its multitude of affordable and mouth-watering local dishes, this hawker centre is a must-visit for food enthusiasts. From popular favorites like roti prata and laksa to classic dishes like wanton noodles and barbecued seafood, there is something for everyone to enjoy. Beyond just food, these traditional hawker centres also provide a sense of community and nostalgia for many residents. It’s the perfect spot to gather with friends and family for a delicious meal and a trip down memory lane.