Casa Fidelio, a cluster terrace development located on Fidelio Street in District 15, will be launched for en bloc sale by tender on March 20. The marketing agent for the site, PropNex Realty, has revealed that the reserve price for the development is $24 million, which equates to a land rate of $1,388 per square foot. This is the first time that the owners of Casa Fidelio have attempted to sell the development collectively.
Constructed in 1990, Casa Fidelio is a freehold strata-titled landed development consisting of seven units. It spans across a land area of approximately 17,293 square feet 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, just a short drive away from various amenities. These include popular spots such as East Coast Park, dining and lifestyle options in the Katong and Joo Chiat precincts, and shopping malls such as Siglap Village, Siglap Centre, and Bedok Mall.
Additional amenities are expected to be available soon with the completion of Kembangan Wave, an integrated public housing project located next to Kembangan MRT Station. The project will include a community club with an eating house, supermarket, and outpatient healthcare facility.
Casa Fidelio is also in close proximity to several schools, such as Opera Estate Primary School, St Stephen’s School, and Victoria School.
According to PropNex, the site has the potential for redevelopment in various configurations, which include luxury cluster houses, landed terraces, or a standalone property. The regular shape and ample size of the site give developers flexibility to design a project that maximizes both functionality and aesthetic appeal. This makes it an ideal location for a modern residential development that caters to the demand for landed homes in the East Coast area, says Laurence Wong, PropNex’s head of collective sales.
Property transaction data shows that the last time a unit at Casa Fidelio changed hands was in September 2021, when a house with a land area of 1,894 square feet was sold for $2.27 million ($1,198 per square foot). In 2024, only two freehold landed homes on Fidelio Street were transacted. One was a terrace house on a land area of 3,423 square feet, which was sold for $9 million ($2,629 per square foot), while the other was a semi-detached house on a land area of 2,035 square feet that fetched $5.38 million ($2,643 per square foot). PropNex also points out that a recently-built corner terrace on Jalan Bangsawan, which is less than 400 meters away from Casa Fidelio, was sold for $3,541 per square foot in December 2024.
The tender for Casa Fidelio will close on April 22 at 3pm.