Freehold Cluster Landed Development Casa Fidelio Collective Sale 24 Mil
Casa Fidelio, a landed development located on Fidelio Street in District 15, will be made available for collective sale by tender on March 20th. The property, which is situated just off New Upper Changi Road, has a reserve price of $24 million and a land rate of $1,388 per square foot, according to PropNex Realty, the marketing agent for the site. The sale of the property represents the first attempt at an en bloc sale by the owners of Casa Fidelio.
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Built in 1990, Casa Fidelio is a strata-titled development comprising of seven cluster terrace units. It sits on a land area of approximately 17,293 square feet and is zoned for residential use. The land is also designated for two-storey mixed-landed housing. The property is situated in a popular landed housing area and is just a short drive from a variety of amenities including East Coast Park, the popular Katong and Joo Chiat precincts with their many dining and lifestyle options, as well as Siglap Village, Siglap Centre, and Bedok Mall.
In the near future, residents of Casa Fidelio can look forward to even more amenities with the completion of Kembangan Wave, an integrated public housing project next to Kembangan MRT Station. This development will include a community club with an eating house, supermarket, and outpatient healthcare facility. Families with school-going children will also appreciate the nearby schools, which include Opera Estate Primary School, St Stephen’s School, and Victoria School.
According to PropNex, the site has the potential for redevelopment in various configurations, such as luxury cluster houses, landed terraces, or even a large standalone property. The property’s regular shape and ample size offer developers the flexibility to create a project that is both functional and visually appealing. It is also well-positioned for transformation into a modern residential development that caters to the strong demand for landed homes in the East Coast area, says Laurence Wong, head of collective sales at PropNex.
Recent transactions in the area demonstrate the strong demand for landed properties. In September 2021, a unit in Casa Fidelio was sold for $2.27 million, translating to $1,198 per square foot. In contrast, a terrace house occupying a land area of 3,423 square feet on Fidelio Street sold for $9 million ($2,629 per square foot) and a semi-detached house on 2,035 square feet of land fetched $5.38 million ($2,643 per square foot) in 2024. A recent corner terrace on Jalan Bangsawan, located just 400 meters away, was transacted at a record price of $3,541 per square foot in December 2024.
The tender for Casa Fidelio will close on April 22 at 3pm. Interested parties can check out the latest listings for Casa Fidelio properties and find out more about the rental yield for the development. Potential buyers can also browse through other landed properties in the area.