The property at 3 Melrose Drive in Braddell Heights Estate, spanning 14,175 sq ft on a freehold site, is to be put up for sale on Oct 18. Boasting two houses, the family legacy has seen four generations pass through, and is to be priced at $16.8 million.
Now, husband and wife Paul and Stephanie Masefield are preparing for a change in lifestyle with a consequent realisation of this asset’s value. A single-storey bungalow was purchased in 1988 by Stephanie’s parents, while the newly built 2½-storey detached house was built by Paul and Stephanie in 2013 after moving from their previous HDB flat in Bishan.
The single-storey bungalow features a built-up area of approximately 3,000 sq ft and three bedrooms, as the original furniture and interiors remain intact. Stephanie remembers a time when even her grandmother lived there.
At the back of their current house, Paul and Stephanie have a staircase connecting the single-storey bungalow to the newer 2½-storey house. The larger house has five bedrooms and a built-up area of 6,000 sq ft. On the first level is a living and dining area that opens to a patio, an en suite guest room, as well as a utility and helper’s room.
The second level includes three en suite bedrooms, the master suite and a family room. On the attic, the Masefields have a lounge and a gym with en suite bathroom.
The area around the Braddell Heights Estate has seen much change over the past 35 years. Martin Goh, principal consultant at Realstar Premier Group marketing the property, notes that in the zone only 6 roads have two-storey bungalow zoning. He believes Braddell Heights is being rediscovered by buyers seeking an evergreen asset, with landed housing prices in the Districts 9, 10 and 11 reaching dizzying heights.
The less fortunate may opt to retain the 2 ½-storey detached house, while attempting to redevelop the older bungalow; an endeavour estimated at $2.5 million to $3 million. Luxury buyers who want to build their dream home may consider tearing down the two buildings and build a single large detached house – a project estimated to cost between $8 million and $10 million.
The site may also attract boutique developers, with Goh estimating three new detached houses for the 14,175 sq ft space – with URA regulations requiring the houses to have a minimum land area of 400 sq m.
The property is in the school catchment area of multiple popular primary and secondary schools, as well as tertiary education institutions, as well as two international schools. It also benefits from a variety of amenities, including Lorong Chuan MRT Station, the Serangoon Interchange Station , Nex shopping mall, Woodleigh Mall and the Woodleigh MRT Station.
The development boasts state-of-the-
The last transaction of a detached house along Melrose Drive was for a house sitting on a freehold site area of 4,315 sq ft that changed hands for $6.8 million ($1,576 psf) in November 2022. Meanwhile, the house across the street was sold for $18.98 million ($1,861 psf) in June 2022.
With a 40m wide frontage, and prices positioned at $1,185 psf, Goh believes the newcomer to the market at 3 Melrose Drive will prove an attractive option for homeowners and developers alike.