Casa Fidelio, a landed development located on Fidelio Street in District 15, will soon be launched for collective sale through a tender process on March 20. According to PropNex Realty, the marketing agent for the site, the development has a reserve price of $24 million or a land rate of $1,388 psf. This will be the first attempt at an en bloc sale for the owners of Casa Fidelio.
Built in 1990, Casa Fidelio is a strata-titled development consisting of seven cluster terraces. It covers a land area of approximately 17,293 sq ft and is zoned for residential use. The land is designated for two-storey mixed-landed housing.
The development is situated in a landed housing enclave and is conveniently located near various amenities such as East Coast Park, dining options at Katong and Joo Chiat precincts, and shopping malls including Siglap Village, Siglap Centre, and Bedok Mall.
In addition, the future completion of Kembangan Wave, an integrated public housing project next to Kembangan MRT Station, is expected to bring more amenities to the area. This will include a community club with an eating house, supermarket, and outpatient healthcare facility.
Families with school-going children will also appreciate the proximity to schools such as Opera Estate Primary School, St Stephen’s School, and Victoria School.
PropNex states that the site has the potential to be redeveloped into various configurations, including luxury cluster houses, landed terraces, or a large standalone property. The regular shape and ample size of the site offer developers the flexibility to design a project that is both functional and visually appealing. It is also well-positioned to cater to the demand for landed homes in the East Coast area, says Laurence Wong, PropNex’s head of collective sales.
Based on recent caveats lodged, the last transaction at Casa Fidelio was in September 2021 when a house with a land area of 1,894 sq ft was sold for $2.27 million or $1,198 psf. PropNex notes that in 2024, only two freehold landed homes on Fidelio Street were transacted. A terrace house with a land area of 3,423 sq ft was sold for $9 million ($2,629 psf on the land area) and a semi-detached house on 2,035 sq ft of land fetched $5.38 million ($2,643 psf on the land area). In comparison, a corner terrace on Jalan Bangsawan, which is less than 400m away, was sold for $3,541 psf 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 on AskBuddy. For those looking for unprofitable landed transactions in the past year, or condo projects with the most unprofitable transactions, or rental yields and rental listings for Casa Fidelio, AskBuddy has all the information you need.
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