The Oxley
Overview & Key Facts
The Oxley is a 39-unit mixed-use condominium on Oxley Rise in District 9 — a boutique residential tower sitting atop a three-storey commercial podium, completed in 1997 by Tuan Sing Holdings, one of Singapore’s longest-standing SGX-listed property groups. The development occupies a land area of approximately 1,883 sqm in what is, by Singapore standards, a genuinely exceptional address: a quiet cul-de-sac off Orchard Boulevard, 300 metres from Dhoby Ghaut MRT — the island’s first and only triple-line interchange serving the North–South, North East, and Circle Lines simultaneously.
The rental data confirms what the location implies: 101 rental transactions at an average of S$3,494 per month (median S$3,500) represents a volume and consistency that is unusual for a 39-unit boutique. These are not occasional leases — this is a building with a structurally active tenant market, almost certainly driven by its proximity to the Orchard Road employment and lifestyle corridor and its tri-MRT connectivity. For an investor, that rental depth is the most compelling number in the data set.
The case is materially complicated, however, by tenure. The Oxley is a 99-year leasehold completed in 1997, leaving approximately 70 years on the lease as of 2026. That figure crosses two critical thresholds in Singapore’s property financing framework: CPF usage is already subject to pro-rating below 75 years remaining, and the loan-restriction threshold at 60 years remaining is now only a decade away. These are not abstract future risks — they are active constraints on financing and resale liquidity that every prospective buyer must price in today.
Location & Connectivity
Oxley Rise is a short private road running off Oxley Road in the River Valley / Orchard fringe pocket of District 9. It is not a thoroughfare — it terminates in a quiet residential close shared by a small cluster of low-density developments including Hollywood Apartments at 100 Oxley Rise. The street sits at the boundary between the institutional density of Somerset and Dhoby Ghaut and the mid-rise residential character of River Valley, giving The Oxley an address that is simultaneously central and calm.
The MRT story is the headline. Dhoby Ghaut MRT (NS24 / NE6 / CC1) — Singapore’s first and only tri-line interchange — is approximately 300 metres away, reachable on foot in under five minutes along a covered route through Plaza Singapura’s sheltered forecourt. From a single tap-in at Dhoby Ghaut, residents have direct access to the North–South Line (Orchard, City Hall, Raffles Place, Bishan, Woodlands), the North East Line (Clarke Quay, Little India, Serangoon, Punggol), and the Circle Line (one-stop to Bras Basah, two stops to Esplanade and Promenade). Fort Canning DT (Downtown Line) at 560 metres adds a fourth rail line, and Somerset NS at 610 metres completes a five-station, four-line catchment within a 650-metre radius — a combination that is almost impossible to replicate anywhere else in Singapore at this price tier.
Day-to-day retail and F&B is immediately available. Plaza Singapura is a 4-minute walk, anchoring a full supermarket, cinema, and dining floor. Orchard Road’s full retail corridor — ION Orchard, Ngee Ann City, Takashimaya, 313@Somerset — is reachable in 10 minutes on foot or one MRT stop. The Dhoby Ghaut Green and Fort Canning Park provide green relief within a 5-minute walk. Medical: Singapore General Hospital is accessible in under 20 minutes by MRT; Mount Elizabeth and Paragon Medical are within 10 minutes on foot.
The school picture is strong for a CCR address. Fairfield Methodist Primary sits 620 metres away, Singapore Management University (SMU) at 740 metres, Anglo-Chinese School (Junior) at 850 metres, and the School of the Arts (SOTA) at 1.05 km. NAFA and Kheng Cheng School round out an educational cluster that spans primary, secondary, and tertiary institutions. The combination makes The Oxley viable for families as well as the corporate expat and young professional tenant cohort that dominates D9 leasing.
Schools & Education
2 primary schools within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Fairfield Methodist School (Primary) | primary | Within 1 km |
| Singapore Management University | tertiary | Within 1 km |
| ACS (Junior) | primary | Within 1 km |
| Nanyang Academy of Fine Arts | tertiary | Within 1 km |
| Kheng Cheng School | primary | ~1.0 km |
| School of the Arts | jc | ~1.1 km |
| LASALLE College of the Arts | tertiary | ~1.4 km |
| St. Anthony's Primary School | primary | ~1.6 km |
Facilities
The Oxley is a mixed-use building: the first three storeys form a commercial podium, with residential units occupying floors 4 to 10. Three levels of basement car parking are included. The residential component is a genuine condominium rather than a bare boutique block — Tuan Sing included a swimming pool and covered car parking as part of the original development package. For a 39-unit tower, this represents a reasonable amenity provision: residents have an on-site pool without the overhead of a large estate management structure.
The commercial podium is a distinctive feature that sets The Oxley apart from purely residential boutiques on the same street. The lower floors face Oxley Rise and provide active street-level F&B and services directly beneath the residential component — a convenience that eliminates the need to leave the building for basic errands while also generating foot traffic that gives the development a more urban character than a purely residential address.
“The commercial podium on the lower floors is actually quite useful. Coffee in the morning is two flights of stairs, not a 10-minute walk. The pool is compact but it’s there. For a building this size, Tuan Sing got the basics right.”
— Resident perspective on The Oxley facilities and mixed-use character via PropertyGuru community reviews
The mixed-use format does introduce trade-offs. Commercial tenants on lower floors may generate noise, delivery traffic, and odours during business hours. Building management must balance the interests of residential and commercial stakeholders — a structural complexity absent from purely residential developments. High-speed lifts serve both uses, which can mean peak-hour congestion in a nine-storey building with commercial footfall on the ground floors.
Neighbourhood Comparison
The Oxley’s natural peer set is D9 leasehold condominiums in the S$2,500–3,200 psf range. Against the four most relevant comparables:
Irwell Hill Residences (S$2,728 psf, 99yr): A 2021-era development on Irwell Hill Road, approximately 1.0 km south. Modern finishes, full facilities, larger estate. PSF is 15–20% higher than The Oxley’s implied range, and lease is newer (approximately 93 years remaining). For buyers who need contemporary finishes and a longer runway before lease-restriction thresholds, Irwell Hill is the rational choice — at a premium.
River Green (S$3,135 psf, 99yr): A newer leasehold on River Valley Road. Significantly above The Oxley on psf. MRT access is less direct — River Valley is not on a train line, requiring a bus or walk to Somerset or Havelock. Newer lease and larger estate, but the connectivity gap is material for tenants who use public transport daily.
The Avenir (S$3,190 psf, FH): Freehold, River Valley Road, 2022. The premium over The Oxley’s implied PSF would buy perpetual tenure versus a 70-year clock. For a buyer with a long or undefined holding period, The Avenir’s freehold is a structurally superior asset even at a higher entry price. The connectivity is similar (both are bus-dependent to MRT), and River Valley’s future Circle Line extension is still speculative. The Avenir vs The Oxley is a classic lease-trade-off: pay more now for an asset whose value does not decay.
Kopar at Newton (S$2,512 psf, 99yr): Newton Road, District 11. Newer lease (approximately 95 years remaining), Newton MRT (NS/DT interchange) at doorstep, modern estate with facilities. PSF is comparable but the lease is 25 years longer. Kopar represents the cleaner alternative for a buyer who wants CCR exposure, leasehold tenure, and new-lease comfort — at a modest PSF premium and with arguably equivalent or better Newton MRT access.
The honest framing for The Oxley is this: it is the best MRT-connected property in its rental price band in D9, built by a credible developer, with a proven 26-year rental track record. It is also a leasehold property in its final decade before bank financing restrictions materially tighten. Buyers who price that correctly — and who plan their exit before 2035 — may find a compelling income asset. Buyers who do not model the lease trajectory explicitly will be selling into a constrained market when they need to exit.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| THE OXLEY | 1997 | 39 | — | |
| IRWELL HILL RESIDENCES | 99 yrs lease commencing from 2020 | 2021 | 540 | $2,728 |
| RIVER GREEN | 99 yrs lease commencing from 2024 | 2025 | 524 | $3,135 |
| RIVER MODERN | 99 years leasehold | — | — | $3,238 |
| THE AVENIR | Freehold | 2021 | 376 | $3,190 |
| KOPAR AT NEWTON | 99 yrs lease commencing from 2019 | 2021 | 378 | $2,512 |
Lease Decay Analysis
The 99-year lease runs from 1997, meaning approximately 29 years have already been consumed. Roughly 70 years remain — still comfortably within the range where most banks will offer full financing without restrictions.
| Year | Lease remaining | Implication |
|---|---|---|
| 2026 (now) | ~70 years | Full bank financing available |
| 2027 | ~69 years | CPF usage still unrestricted for most buyers |
| 2036 | ~59 years | Approaching 60-year threshold — CPF limits begin for some |
| 2056 | ~39 years | Significant financing restrictions for next buyer |
| 2096 | Expiry | Lease reverts to state |
For a buyer purchasing today with a 10-year horizon (exit around 2036), the lease situation is essentially a non-issue — you’d be selling a property with ~60 years remaining, which is still very bankable. The risk profile changes for longer holds.
ShiokNest Scores
Our proprietary scoring system evaluates THE OXLEY across multiple dimensions.
What Residents Say
“I’ve been a tenant here twice over six years. The Dhoby Ghaut interchange is the reason I keep coming back. I work in Raffles Place, my partner works near Serangoon — we can both take a direct train from the same platform. In Singapore, that kind of flexibility is worth real money.”
— Long-term tenant reflection on connectivity value at The Oxley via PropertyGuru listing discussions
“The unit sizes are proper — real bedrooms, a kitchen you can actually cook in. The building is 1990s vintage so the finishes aren’t luxury, but the bones are good. The pool is usable. For what you pay in rent versus newer D9 buildings, it’s a rational choice if you need the MRT.”
— Corporate expat tenant perspective on unit quality and value at The Oxley via SingaporeExpats property community
“It’s a Tuan Sing building — the same group that did 18 Robinson and the Grand Hyatt Melbourne. They’re not a volume developer; they pay attention to construction quality. The Oxley is not flashy but it was built properly. For a 1997 building it holds up.”
— Property investor comment on Tuan Sing build quality and developer pedigree via EdgeProp community analysis
The recurring theme across tenant and owner commentary for The Oxley is a consistent prioritisation of connectivity over aesthetics. Residents who choose this building have typically done the MRT analysis: they have found that no other property in the S$3,000–4,000/month rental bracket gives simultaneous access to the NS, NE, and CC lines within a five-minute walk. The building’s commercial podium — a detail that concerns some prospective buyers — is treated by current and former tenants as a convenience rather than a nuisance, largely because the street-level commercial tenancy mix has historically skewed toward F&B and services rather than nightlife.
Strengths & Weaknesses
- Dhoby Ghaut tri-MRT (NS/NE/CC) at 300m — Singapore's only triple-line interchange at doorstep distance
- 4 MRT lines within 650m: NS/NE/CC at Dhoby Ghaut (300m), DT at Fort Canning (560m), NS again at Somerset (610m)
- 101 rental transactions — unusually deep rental history for a 39-unit boutique, confirming structural demand
- Median rent S$3,500/month with near-identical average — very consistent tenancy profile, low distribution skew
- Mixed-use: commercial podium provides on-site F&B and services directly beneath residential floors
- Swimming pool included — facility provision above typical micro-boutique standard
- Tuan Sing Holdings developer pedigree — SGX-listed since 1973, Grade A office track record (18 Robinson)
- Prime D9 CCR address: Plaza Singapura 4-min walk, Orchard Road 10-min walk, Fort Canning Park 5-min walk
- Strong school cluster: Fairfield Methodist Primary (620m), ACS Junior (850m), SOTA (1.05km), SMU (740m)
- Walkability 84/100 — top-tier pedestrian environment for daily errands and transit access
- Quiet cul-de-sac setting despite ultra-central location — residential tranquillity at Orchard fringe
- PSF discount relative to newer 99yr peers (Irwell Hill, River Green) partly compensates lease haircut
- CRITICAL: ~70yr remaining lease — CPF usage already pro-rated; below 75yr threshold since ~2022
- CRITICAL: 60yr lease threshold (bank loan curtailment) arrives around 2035–2036 — under 10 years away
- Resale exit will face a materially narrowing buyer pool as lease shortens — exit before 2035 strongly recommended
- 1997-vintage building — full renovation required (S$80,000–120,000) to meet contemporary rental standards
- Mixed-use podium: commercial tenancy may introduce noise, delivery traffic, or odour on lower residential floors
- Only 39 units — infrequent resale turnover; thin price-discovery data makes valuation difficult
- Lease-decay discount will steepen over time — capital appreciation is structurally capped on a 99yr leasehold at 70yr remaining
- No gym or clubhouse — facilities are limited to pool and parking; residents needing a fitness facility must use external options
- Commercial podium lifts shared with residential — peak-hour congestion possible in a low-rise 9-storey mixed building
- ShiokNest score 65/100 reflects lease drag on an otherwise top-tier location
Verdict
The Oxley is a dual-thesis property that requires buyers to hold two contradictory ideas simultaneously: exceptional location and connectivity on one hand, and an accelerating lease-decay problem on the other. Getting both right determines whether the investment is sound or a costly mistake.
The bull case is straightforward. Dhoby Ghaut tri-MRT at 300 metres is the single best MRT access point in Singapore for a residential property in this rental bracket. No CCR condominium priced in the S$3,500/month rental range combines North–South, North East, and Circle Line access at under 5 minutes’ walk. The rental track record — 101 transactions at a consistent S$3,500 median — confirms that the market has already voted with its wallet. The competitors (Irwell Hill at S$2,728 psf, River Green at S$3,135 psf, The Avenir at S$3,190 psf) are all significantly higher-priced and leasehold or freehold products with different buyer profiles. The Oxley’s implied PSF, backed by the rental income, may represent genuine value for a buyer who prices the lease risk correctly.
The bear case is equally straightforward, and it is driven by one number: 70 years. Singapore’s leasehold property market applies increasing discounts as remaining lease shortens below 75 years. The CPF pro-rating has already begun. In under a decade, the 60-year threshold will arrive — a point at which bank loan tenures are capped, typically to the shorter of 35 years or the remaining lease period minus 5 years. That constraint will meaningfully narrow the buyer pool, increase the equity proportion required, and compress resale pricing. Sellers of leasehold properties below 60 years in Singapore consistently report longer marketing periods and greater price concessions than comparable properties with longer leases.
The ShiokNest composite score of 65/100 reflects this balance. Neighbourhood (9.5/10) and MRT access (9.5/10) are best-in-class — it is genuinely difficult to find a CCR property with better connectivity to Singapore’s three most-used MRT lines. Lease (5.5/10) reflects the sub-75-year reality, the imminent 60-year threshold, and the structural exit constraints that come with it. Value (7.5/10) acknowledges that the PSF, anchored by S$3,500/month median rents, may represent genuine pricing efficiency for a buyer with a disciplined 5–7 year hold thesis. Unit layout (7.5/10) reflects the spatial generosity of 1997-era construction tempered by renovation requirements.
The ideal buyer is a yield-focused investor with a defined exit horizon before 2033, a renovation budget of S$80,000–120,000, and a clear understanding of the CPF and financing constraints they are passing on to the next buyer. For that investor, The Oxley’s tri-MRT connectivity and proven S$3,500/month rental floor make it a defensible income asset. For a buyer hoping to hold indefinitely or sell on the open market in 15–20 years, the lease trajectory is a compounding headwind that the location alone cannot fully offset.