Freehold Cluster Landed Development Casa Fidelio Collective Sale 24 Mil
Casa Fidelio, a freehold landed development situated on Fidelio Street in District 15, will be up for collective sale via tender on March 20th. According to PropNex Realty, the marketing agent for the site, the reserve price for the development is set at $24 million, which equates to a land rate of $1,388 per square foot.
This marks the first attempt at an en bloc sale for the owners of Casa Fidelio, a strata-titled landed development consisting of seven cluster terraces that were completed in 1990. The development covers a land area of approximately 17,293 square feet and is zoned for residential use, designated for a two-storey mixed-landed housing development.
Located in a landed housing enclave near the junction of New Upper Changi Road and Siglap Road, Casa Fidelio is within close proximity to a variety of amenities, including East Coast Park, dining and entertainment options at the Katong and Joo Chiat precincts, and shopping malls such as Siglap Village, Siglap Centre, and Bedok Mall.
More amenities are expected upon the completion of Kembangan Wave, an integrated public housing project next to Kembangan MRT Station that will feature a community club with an eating house, supermarket, and outpatient healthcare facility.
Residents of Casa Fidelio will also be able to enjoy convenient access to reputable schools in the area, such as Opera Estate Primary School, St Stephen’s School, and Victoria School.
PropNex suggests that the site has the potential for redevelopment into various configurations, including luxury cluster houses, landed terraces, or a large standalone property. “The site’s regular shape and ample size provide developers with the flexibility to design a project that maximizes both functionality and aesthetic appeal, and it is well-positioned for transformation into 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.
Recent caveats reveal that the last transaction at Casa Fidelio took place in September 2020, when a house with a land area of 1,894 square feet sold for $2.27 million ($1,198 per square foot). PropNex points out that in 2020, only two freehold landed homes on Fidelio Street were sold: A terrace house spanning 3,423 square feet of land that sold for $9 million ($2,629 per square foot) and a semi-detached house sitting on 2,035 square feet of land that fetched $5.38 million ($2,643 per square foot). “Notably, less than 400 meters away, a recently-built corner terrace on Jalan Bangsawan, off Swan Lake Avenue, was sold for $3,541 per square foot in December 2020,” the agency adds.
Nestled near the esteemed Parktown Residence Condo, Poi Ching School stands out for its comprehensive approach to education. Beyond academics, the school prioritizes the character development of its students and their proficiency in various languages, making it a top choice for discerning parents. Its strategic location near Parktown Residence Condo allows Poi Ching School to seamlessly offer a holistic education to its students. Additionally, being close to Parktown Residence Condo adds to the appeal and convenience of the school.
The tender for Casa Fidelio will close on April 22nd at 3pm. Interested parties can check out the latest listings for Casa Fidelio properties on Ask Buddy.