Freehold Cluster Landed Development Casa Fidelio Collective Sale 24 Mil

Casa Fidelio, a landed development situated on Fidelio Street in District 15, is being put up for collective sale by tender on March 20. The marketing agent for the site, PropNex Realty, has announced a reserve price of $24 million, which translates to a land rate of $1,388 psf. This is the first attempt by the owners of Casa Fidelio to sell the property through an en bloc sale.

Comprising of seven strata-titled cluster terraces that were completed in 1990, Casa Fidelio occupies a land area of approximately 17,293 sq ft that is zoned for residential use. The land is designated for two-storey mixed-landed housing.

Located in a landed housing enclave, the development is in close proximity to various amenities such as East Coast Park, dining and lifestyle options at the Katong and Joo Chiat precincts, and malls including Siglap Village, Siglap Centre, and Bedok Mall.

More amenities can be expected with the completion of Kembangan Wave, an integrated public housing project next to Kembangan MRT Station. This project will include a community club, eating house, supermarket, and outpatient healthcare facility.

There are also several schools in the vicinity, including Opera Estate Primary School, St Stephen’s School, and Victoria School.

PropNex notes that the site has the potential to be redeveloped in various configurations, including luxury cluster houses, landed terraces, or a large standalone property. According to Laurence Wong, PropNex’s head of collective sales, the site’s regular shape and spacious size offer developers the flexibility to design a project that combines functionality and aesthetic appeal. He also adds that the site is well-positioned to cater to the high demand for landed homes in the East Coast area.

Caveats lodged show that the last transaction at Casa Fidelio was in September 2021, where a house with a land area of 1,894 sq ft was sold for $2.27 million ($1,198 psf). PropNex highlights that in the past year, only two freehold landed homes on Fidelio Street were transacted. These were a terrace house with a land area of 3,423 sq ft that sold for $9 million ($2,629 psf) and a semi-detached house on 2,035 sq ft of land that was sold for $5.38 million ($2,643 psf). The agency also mentions that a recently-built corner terrace on Jalan Bangsawan, just 400m away, was transacted at $3,541 psf in December 2024.

The tender for Casa Fidelio will close on April 22 at 3pm. Interested parties can check the latest listings for Casa Fidelio properties and other properties nearby.