Facts About 38 Oxley Road
The debate rages on over its usage and demolition, but how much do we actually know about this now-famous house? Here’s a scale model of it.
1. LHY Has Full Ownership Of The House
At this point in time, Lee Hsien Yang is the owner of 38 Oxley Road.
After the passing of LKY, PM Lee was given 38 Oxley Road as part of his equal share of the estate — much to the chagrin of LHY and Dr LWL.
Dr LWL rejected to buy the house from her eldest brother for $1, and LHY eventually paid his brother full market value for the house, and donated an additional 50% of the value of the house to charity — which means he actually forked out 150% of the house’s value.
2. Who Stands To Gain?
The demolishment of the property will intangibly benefit LHY and Dr LWL, who are trying to fulfil their late father’s wishes.
It is debatable as to whether the demolition of the house will merit PM Lee.
On one hand, he claims he wants to realize LKY’s last wish, yet his siblings have speculated that the preservation of the house serves to strengthen his political muscle.
Surprisingly, the neighbours will also stand to gain from the tearing down of 38 Oxley Road.
Back in 2011, LKY revealed the restrictions his neighbours has to adhere to in an interview with The Straits Times:
“Because of my house the neighbouring houses cannot build high.”
The neighbours aren’t allowed to have their houses overlooking 38 Oxley Road possibly due to privacy issues that stemmed from being part of the Prime Minister’s household.
3. It Was Guarded By Gurkhas
In the past, 38 Oxley Road was watched over by Gurkhas.
Here’s screenshot taken by Google Maps on February 2015 showing a Gurkha standing guard outside the house.
Then again, this shouldn’t come as a surprise as it was the home of the former first Prime Minister Lee Kuan Yew — and his safety was paramount.
After the passing of LKY on 23 March, 2015, it appeared as though the Gurkhas were no longer deployed to safeguard the house.
4. Worth Over $30 Million
According to Nominated Member of Parliament (NMP) Calvin Cheng, property consultants have estimated in 2015 that the house was worth $24 million.
Oxley 38 is worth a lot of money now. Property consultants conservatively estimated it to be worth 24m in 2015. It is…
Based on an average per-square-foot calculation of $2,000 psf, the 12,060 sqft property will be about $24 million.
But reasons such as it’s rich cultural history might jack up prices.
Property Asia Direct released an estimation on Friday (June 16), speculating that the value of 38 Oxley Road is more than $30 million.
5. The Size Of 17 3-Room HDB Flats
A 3-room HDB flat has an approximate floor area of 60-65 sqm — which equates to about 700 sqft.
Just to put things in perspective, the land area of 38 Oxley Road is equivalent to 17 3-room HDB flats.
The renowned home also appears to have a larger land area than the nearby Lloyd’s Inn — a 34-room chic boutique hotel.
Bonus: The Public Wants Demolition Job
It seems the Lee family still haven’t come to a consensus regarding 38 Oxley Road, but it’s clear what the public want.
Based on a poll conducted in 2015, 77% of respondents backed LKY’s wish that the house should be torn down, reported The Straits Times.
Perhaps the 77% might wish to have their voices heard in Parliament when PM Lee answers questions regarding the saga on 3rd July.
Come that day, we’re sure to get more answers regarding how the house is going to be dealt with.
Featured Image from The Malaysian Insight.