Singapore Famous Singer-Songwriter Dick Lee Family Late Aunt Estate of 3 Bungalows Sold for $45.8 Million, All Proceeds to be Donated to Charity & Beneficiaries of Agnes Tan Estate are Registered Charities
1st April 2023 | Singapore
Singapore famous singer-songwriter Dick Lee’s family late aunt estate (Agnes Tan estate) of 3 bungalows valued at $45 million (S$60 million), had been sold for $45.8 million (S$61.1 million), with all proceeds to be donated to charity. The 3 bungalows are freehold adjoining houses at Chancery Hill Road and Dyson Road (Singapore) – 10/10A Chancery Hill Road, 12 Chancery Hill Road and 14/14A Dyson Road. The beneficiaries of all Agnes Tan estate are registered charities, and is one of the largest known philanthropy donation in Singapore. The buyer of the 3 bungalows is a subsidiary of Sustained Land, founded by Douglas Ong. The late Agnes Tan Kim Lwi is the daughter of the late Tan Cheng Lock (1883 to 1960), a prominent Malaysian politician & businessman, and the first President of the Malaysian Chinese Association (MCA). Agnes Tan Kim Lwi, the youngest daughter and the last surviving child of Tun Dato’ Sir Tan Cheng Lock, had passed away on 4th September 2021. More info below.
“ Singapore Famous Singer-Songwriter Dick Lee Family Late Aunt Estate of 3 Bungalows Sold for $45.8 Million, All Proceeds to be Donated to Charity & Beneficiaries of Agnes Tan Estate are Registered Charities “
National University of Singapore: “In 2004 she generously donated S$1.5 million funds to purchase two townhouse units at 54-56 Jalan Tun Tan Cheng Lock in Melaka, Malaysia. The Tun Tan Cheng Lock Centre for Asian Architectural and Urban Heritage is set up for cultural heritage conservation studies. In 2005 she followed with another gift of S$4 million to acquire a house in Neil Road Singapore, which was named Baba House, to preserve and promote cosmopolitan architecture and culture in Singapore and the region. Both centres have become unique and very valuable educational resources of the university. Various programs (education, capacity building, research, seminars, community engagements, public education, etc.) have been organized in both facilities.
In 2010 she gave another endowment fund for The Tun Tan Cheng Lock Scholarship In Architecture to support research in the area of urban and architectural heritage in Southeast Asia, to increase awareness of the history of Melaka and to contribute to the community of Melaka in particular and Southeast Asia in general. The scholarship is given to undergraduate or graduate students in architecture or related study programs in Southeast Asia or East Asia accredited architectural schools. So far, 11 students have received the scholarship: Kenneth Wong Chi Kan (Hong Kong, 2010), Richard Lee Xin Li (Singaporean, 2011), Mohammad Hafiz Mohammad Amirrol (Malaysian, 2011), Hafizur Rahaman (Bangladeshi, 2012), Oh Shu Yi Lisa, Ong Sen Chun Eugene, Quek See Yee, Goh Jiali, and Lim Louis (Singaporeans, 2014), Shawn Teo Eng Kiong (Singaporean, 2015), and Ng Keng Khoon (Malaysian, 2016).
Agnes Tan’s magnanimity and dedication to education for all, especially the younger generation, have generated significant impacts. Her legacy and support will continue to grow talents, nurture learning culture, and preserve our heritage.”
Singapore Famous Singer-Songwriter Dick Lee Family Placed Late Aunt Estate of 3 Bungalows Valued at $45 Million for Sale with Bids to be Submitted by 21st March 2023, All Proceeds to be Donated to Charity & Beneficiaries of Agnes Tan Estate are Registered Charities
18th February 2023 – Singapore famous singer-songwriter Dick Lee’s family had placed their late aunt estate (Agnes Tan estate) of 3 bungalows valued at $45 million (S$60 million) for sale with all proceeds to be donated to charity. The 3 bungalows are freehold adjoining houses at Chancery Hill Road and Dyson Road (Singapore). The beneficiaries of all Agnes Tan estate are registered charities, and is one of the largest known philanthropy donation in Singapore. Brothers of Dick Lee, Peter Lee & John Lee are the executors of the estate. The tender bids (single unit or all units) are to be submitted to Cushman & Wakefield Singapore by 21st March 2023 4 pm (HK / SG time). Cushman & Wakefield: “The properties are situated in the prestigious and tranquil enclave of Chancery Hill Road/Lane neighbourhood in District 11. It is within a few minutes’ drive from the shopping (Velocity at Novena Square, Square 2 and United Square) and healthcare (Health City Novena) facilities in Novena/Newton, Orchard Road shopping malls and nature parks such as the Singapore Botanic Gardens (UNESCO World Heritage Site). Renowned educational institutions nearby include Anglo-Chinese School – Barker Road, St Joseph’s Institution, CHIJ Toa Payoh and Singapore Chinese Girls’ School. Under the 2019 Master Plan, the three sites are zoned as “Residential” with a “2-storey Mixed Landed” development control.” See below more statement by Cushman & Wakefield.
Esplanade & Co – Dick Lee is a singer-songwriter whose pioneering use of Asian elements in his pop compositions earned him regional acclaim. He is best known for his landmark album The Mad Chinaman (1989), co-creating Singapore’s first major homegrown stage musical Beauty World (1988), and penning the popular song Home. Besides these enduring contributions to the Singapore songbook, he has also composed for some of Asia’s most iconic performers, including Sandy Lam, Jacky Cheung, and Leslie Cheung.
Estate Sale of Three Adjoining Freehold Bungalows at Chancery Hill Road, Dyson Road
13th Feb 2023 – Cushman & Wakefield (NYSE: CWK), a leading global real estate services firm, a leading global real estate services firm has today announced that three adjoining freehold bungalows at Chancery Hill Road and Dyson Road will be launched for estate sale by tender.
The indicative price for all the three properties is $60 million. The sale will be on as-is-where-is basis with all three bungalows currently vacant. Interested parties are invited to bid for a single or multiple adjoining bungalows. All the sale proceeds from the sale will go to the beneficiaries of the estate which are charities.
The properties are situated in the prestigious and tranquil enclave of Chancery Hill Road/Lane neighbourhood in District 11. It is within a few minutes’ drive from the shopping (Velocity at Novena Square, Square 2 and United Square) and healthcare (Health City Novena) facilities in Novena/Newton, Orchard Road shopping malls and nature parks such as the Singapore Botanic Gardens (UNESCO World Heritage Site). Renowned educational institutions nearby include Anglo-Chinese School – Barker Road, St Joseph’s Institution, CHIJ Toa Payoh and Singapore Chinese Girls’ School.
Under the 2019 Master Plan, the three sites are zoned as “Residential” with a “2-storey Mixed Landed” development control.
According to Mr Shaun Poh 傅子伟, Executive Director of Capital Markets at Cushman & Wakefield, “The properties are located at the most prestigious address in District 11, within the tranquil enclave of Chancery Hill Road/Lane. The neighbourhood has been setting price benchmark with several recent transactions crossing $3,000 psf. The highest price achieved in this area was a new bungalow at 29 Mount Rosie Road which was sold for $3,805 psf in August 2022.”
Mr. Poh continues, “The buyer can either redevelop the bungalows for owner occupation or developers could turn them into a boutique, exclusive luxury housing development with a combination of terrace houses, semi-detached houses or bungalows.”
Interested parties are invited to submit their tender bids to Cushman & Wakefield by 21 March 2023 (Tuesday), 4.00 p.m.
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