Two Adjoining Freehold 2-Storey Shophouses at 144/146 Owen Road For Sale Via Expression Of Interest

Singapore, 15 July 2025 – CBRE, as the exclusive marketing agent, is offering for sale two freehold adjoining 2-storey shophouses with attics at 144/146 Owen Road. The sale will be conducted via an Expression of Interest exercise which closes on Thursday, 14 August 2025, at 12pm.

The property sits on a combined land area of about 2,341 sq ft and has a gross floor area of about 4,738 sq ft. Under the Master Plan 2019, the site is zoned “Residential with Commercial at the 1st-storey” with a Gross Plot Ratio of 3.0. There is an unutilised Gross Floor Area (GFA) of approximately 2,285 sq ft. The vendor has obtained in-principal approval to convert the upper floors premises into Serviced Apartment II (SA2), subject to fulfillment of a list of conditions set out by the authorities.

Presently, the property features a gym on the ground floor of 146 Owen Road and a total of 9 residential rooms on level 2 and attic, spanning across both units, which is operated by an established co-living operator. The guide price is S$9.8 million for both units collectively, translating to approximately S$2,068 per square foot based on the gross floor area.

Located in the heart of Farrer Park, the precinct has seen significant transformation over the years. This rejuvenated precinct now boasts several prominent developments, including City Square Mall, Centrium Square, and the famous Mustafa Centre, which operates around the clock. Farrer Park is characterised by its wide range of dining, retail and lifestyle options that are readily available in the neighbourhood, making it a highly sought-after area. Some of these F&B options include Chooby Pizza, Cherry & Oak, and Old Hen Kitchen which are popular among locals and foreign expatriates.

The area is also home to the first fully-integrated healthcare and hospitality complex in the region, Connexion which comprises of The Farrer Park Medical Centre and The Farrer Park Hospital. Additionally, with the upcoming Picadilly Grand slated to be completed in 2026, the development will further augment the attractiveness of the neighborhood.



Mr. Joshua Giam (严耀祥), Director of Capital Markets, CBRE Singapore, says, “There has been strong demand from both local and foreign investors looking for value added opportunities in the city fringe. This offering presents an opportunity to acquire freehold shophouses with the potential to convert into Serviced Apartment II which will provide for stable rental income. This is due to the changing attitude towards residential leasing with the preference of city fringe living and flexible co-living arrangements among young professionals, expatriates, and international students who favour shorter-term rental options. Furthermore, subject to relevant authorities’ approval, the incoming buyer can also explore maximising the GFA by building a rear extension at the back of the shophouses.

He added, “Apart from maximising the GFA and converting the upper floors to SA2, the incoming buyers can also explore converting the ground floor to other uses such as F&B, takeaway, or clinics, subject to the relevant authorities’ approval. At the guide price of $9.8 million, incoming buyers can expect a yield of approximately 3% with huge rental upside potential after AEI works are completed.”

The property is approximately a 5-minute walk from Farrer Park MRT station and well-connected to other key areas of Singapore, being a 15-minute drive from the Central Business District (CBD) and within close proximity to major expressways such as the Central Expressway (CTE) and Pan Island Expressway (PIE).