SINGAPORE - The site at 38 Oxley Road – where founding prime minister Lee Kuan Yew’s family home is located –
on Jan 29.
Preserving and acquiring the site means it cannot be redeveloped for residential, commercial or other private uses, said the Singapore Land Authority (SLA) and National Heritage Board (NHB).
“After acquisition, the relevant authorities will assess the condition of the buildings and structures within the site, and undertake a detailed study to consider the next steps,” they added.
The Straits Times explains the next steps the authorities will take to acquire 38 Oxley Road.
The property owner - in …
SINGAPORE - The site at 38 Oxley Road – where founding prime minister Lee Kuan Yew’s family home is located –
on Jan 29.
Preserving and acquiring the site means it cannot be redeveloped for residential, commercial or other private uses, said the Singapore Land Authority (SLA) and National Heritage Board (NHB).
“After acquisition, the relevant authorities will assess the condition of the buildings and structures within the site, and undertake a detailed study to consider the next steps,” they added.
The Straits Times explains the next steps the authorities will take to acquire 38 Oxley Road.
The property owner - in this case, Mr Lee Hsien Yang - will receive a notice informing him of the acquisition. This notice will state the date of the Collector’s Inquiry to assess how much he will get in compensation. He must attend this inquiry in person or appoint someone to attend on their behalf.
During the inquiry, the Collector - an appointed public officer - will look at factors such as the size and value of the land, as well as the interests of those claiming compensation.
The inquiry will be held at least 21 days after the owner gets the notice.
Singapore Management University law don Eugene Tan said that gazetting 38 Oxley Road for acquisition starts the process for the eventual transfer of the site to the Government.
The property’s owner, Mr Lee Hsien Yang, is the younger brother of Senior Minister Lee Hsien Loong. Mr Lee Hsien Yang had in November
objected to the Government’s plan to gazette
the 38 Oxley Road site as a national monument.
Next, the SLA will appoint an independent property valuer to determine the site’s market value.
To do so, the valuer will conduct a site inspection. Compensation will be determined in accordance with the Land Acquisition Act, and account for the market value of the site as at the date of acquisition.
The property owner may also hire a valuer to assess the site’s value.
These valuations will be assessed during the inquiry.
Mr Nicholas Mak, chief research officer at property portal Mogul.sg, said that the last transactions of large landed properties in the Oxley Road area were in 2021.
A 260 sq m landed home in Dublin Road sold for $7.3 million in March 2021. Another 160 sq m property on the same street transacted at $5.1 million in July 2021.
But Mr Mak noted that the 38 Oxley Road lot has an area of 1,120.5 sq m - far larger than these two homes.
Mr Karamjit Singh, chief executive of property consultancy Delasa, said that conventional valuation methods using comparable residential transactions may not apply “because the property lost its redevelopment rights when it was gazetted as a national monument in December”.
“Compensation will be determined through the statutory process based on today’s market value - as a national monument and any claims by affected parties. This requires a more elaborate process,” he said.
After compensation claims are assessed, the owner will receive the Collector’s Award, which will state the compensation amount.
The Government may subsequently take possession of the land after serving a notice of taking possession to the owner or anyone interested in the land, said Prof Tan.
The owner will be paid when the Government takes possession of the land.
If the owner is not satisfied with the compensation amount, they are allowed to lodge an appeal within 14 days of receiving the Collector’s Award.
They cannot appeal against the acquisition.
SLA’s website states that the payment of compensation to the owner, and the handing over of the site will not affect the ongoing appeal process.
This means that any appeal against the compensation amount will not affect the acquisition timeline, said Prof Tan. In essence, the compensation and handover could be carried out before the appeal is concluded.
As part of the appeal process, witnesses may be called to give evidence at a hearing. The Appeals Board may reduce, increase or annul the compensation amount.
Isabelle Liew is a journalist at The Straits Times. She covers housing issues in Singapore, with a focus on public housing.