Casa Fidelio, located on Fidelio Street in District 15, is set to be put up for collective sale through a tender on March 20. The development, which consists of seven cluster terraces completed in 1990, has a reserve price of $24 million ($1,388 psf land rate) and is being marketed by PropNex Realty.
According to PropNex, this will be the first attempt by Casa Fidelio owners to sell the property en bloc. The development occupies a land area of around 17,293 sq ft and is zoned for residential use, with a two-storey mixed-landed housing designation.
Casa Fidelio is located in a landed housing enclave just a short drive away from various amenities, including East Coast Park, dining and lifestyle options at the Katong and Joo Chiat precincts, and malls such as Siglap Village, Siglap Centre, and Bedok Mall. More amenities are also expected to be added with the future completion of Kembangan Wave, an integrated public housing project next to Kembangan MRT Station that will include a community club, eating house, supermarket, and outpatient healthcare facility.
The development is also surrounded by educational institutions, including Opera Estate Primary School, St Stephen’s School, and Victoria School.
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According to Laurence Wong, PropNex’s head of collective sales, the site has the potential to be developed into a variety of configurations, including luxury cluster houses, landed terraces, or even an expansive standalone property. Its regular shape and ample size provide developers with the flexibility to design a project that maximizes both functionality and aesthetic appeal. Wong adds that the site is well-placed to cater to the demand for landed homes in the East Coast area.
Recent caveats show that the last transaction at Casa Fidelio was in September 2020 when a house with a land area of 1,894 sq ft was sold for $2.27 million ($1,198 psf). In comparison, only two freehold landed homes on Fidelio Street were transacted in 2020, with a terrace house occupying a land area of 3,423 sq ft fetching $9 million ($2,629 psf on land area) and a semi-detached house on 2,035 sq ft of land fetching $5.38 million ($2,643 psf on land area). In December 2020, a recently-built corner terrace on Jalan Bangsawan, off Swan Lake Avenue, was sold for $3,541 psf, less than 400m away from Casa Fidelio.
The tender for Casa Fidelio will close on April 22 at 3pm. Interested parties can check out the latest listings for Casa Fidelio properties or contact a property agent for more information.