$33M for Five Shophouses, in Numbers
Published 1 October 2026 · Insights from Shoppes @ Sky Eden
Start with $33 million. That is the asking price for a row of five adjoining freehold shophouses on Owen Road, near Farrer Park MRT, listed in a recent report by Stacked Homes. It works out to roughly $1,902 psf as reported, and the sale comes with tenants already in place.
Behind the headline there are a few more numbers worth noting. The properties are zoned for residential use with commercial on the first storey, and they carry additional approval for serviced apartments. The residential part is a co-living operation of 20 rooms. Room rents are reported at about $2,750 to $2,800 a month, with an executive suite at $3,350 a month.
Location adds another figure: about 150 metres to Farrer Park MRT on the North East Line, with City Square Mall, Farrer Park Hospital, Mustafa Centre and Connexion in the neighbourhood. The sale is being run by Cushman & Wakefield and CBRE through expressions of interest, closing on 27 October 2026.
What do these numbers tell a reader interested in retail-led property? First, that tenancy is a large part of the price. A building sold with occupants and income in place is valued partly on that income, which is different from vacant space. Second, that mixed-use zoning, with commercial at street level and residential above, can support more than one income stream. Third, that proximity to a station and daily amenities is treated as a core part of the value. None of these points guarantees a return, and each depends on the lease terms and the condition of the property.
Shoppes @ Sky Eden is a smaller-scale proposition, but several of the same questions apply. Developed by The Assembly Place, it is a freehold strata retail development in District 16 with F&B approval. It has 12 units ranging from 398 to 1,313 sqft, Bedok MRT is about three minutes away on foot, and the project has reached TOP stage. A completed building with a short walk to a station is the kind of profile that tenants and owners tend to examine closely.
Any reader comparing the two should keep in mind that a $33 million shophouse row and a 398 sqft strata shop are different assets, with different budgets and risks. The location page shows how Sky Eden sits within Bedok, which is the place to begin when looking at footfall and neighbours.
As always, a listing price is an ask, not a transaction, and the final outcome of the sale remains to be seen once expressions of interest close.
One more caution about the numbers: they are an asking price and reported room rents, not audited returns. Anyone studying a listing like this would want to see lease expiry dates, outgoings and the terms of the existing tenancies before reading much into a headline price per square foot.
General information only, not financial or legal advice.
For unit sizes and availability at Shoppes @ Sky Eden, reach out to our team.
Source: Stacked Homes. This article is independent commentary; Shoppes @ Sky Eden is not affiliated with the parties mentioned.