CBRE, the appointed marketing agent for two freehold shophouses at 144 and 146 Owen Road, has launched an expression of interest (EOI) exercise for the properties with a guide price of $9.8 million. The two adjoining units, which are situated on a land area of 2,341 sq ft, are zoned “residential with commercial at first storey”.
According to CBRE, the two-storey shophouses have attics and a gross floor area (GFA) of about 4,738 sq ft. This means that the guide price translates to approximately $2,068 psf on the existing GFA. At present, the ground floor of 146 Owen Road is occupied by a gym while a co-living operator manages nine residential rooms across the upper levels of both shophouses.
Based on the land’s gross plot ratio of 3.0, CBRE estimates that the properties have an unutilised GFA of around 2,285 sq ft. Joshua Giam, director of capital markets at CBRE …
