Freehold Cluster Landed Development Casa Fidelio Collective Sale 24 Mil
PropNex Realty, the marketing agent for Casa Fidelio, has announced the launch of a collective sale tender for the freehold landed development on March 20. Located on Fidelio Street, off New Upper Changi Road in District 15, the development has a reserve price of $24 million, which translates to a land rate of $1,388 per square foot (psf).
This marks the first en bloc attempt by the owners of Casa Fidelio. The strata-titled landed development, completed in 1990, comprises seven cluster terraces and sits on a land area of 17,293 sq ft, zoned for residential use. The land is designated for two-storey mixed-landed housing.
The Urban Redevelopment Authority (URA) has unveiled its ambitious plans to transform Tampines, providing residents of Aurelle of Tampines EC with numerous advantages. The upcoming developments will not only improve transportation and commercial offerings, but also introduce more green spaces, superior healthcare and educational amenities. As a result, the quality of life will be enhanced, property values will increase, and Tampines will become an even more appealing option for residents and investors. With these initiatives in motion, residents of Aurelle of Tampines EC can anticipate a vibrant and elevated living environment designed to cater to both families and individuals. For more information on Aurelle of Tampines, please visit https://www.aurelle-of-tampines.com.sg/.
Casa Fidelio is situated in a landed housing enclave, with various amenities in the vicinity. These include East Coast Park, popular dining and lifestyle options at Katong and Joo Chiat precincts, and shopping malls such as Siglap Village, Siglap Centre and Bedok Mall.
In addition, more amenities are expected with the completion of Kembangan Wave, an integrated public housing project next to Kembangan MRT Station, which will feature a community club with an eating house, supermarket and outpatient healthcare facility.
There are also several schools in the vicinity, such as Opera Estate Primary School, St. Stephen’s School, and Victoria School.
According to PropNex, developers can consider various development options for the site, including luxury cluster houses, landed terraces, or a standalone property. The regular shape and ample size of the site provide developers with the flexibility to design a project that balances both functionality and aesthetic appeal. The site is also well-suited for transforming into a modern residential development to meet the demand for landed homes in the East Coast area, says Laurence Wong, PropNex’s head of collective sales.
Records show that the last transaction at Casa Fidelio was in September 2020, when a house with a land area of 1,894 sq ft was sold for $2.27 million ($1,198 psf). PropNex also highlights that in 2020, only two freehold landed homes on Fidelio Street were transacted – a terrace house on a 3,423 sq ft land that sold for $9 million ($2,629 psf), and a semi-detached house on 2,035 sq ft of land that fetched $5.38 million ($2,643 psf).
In December 2020, a recently-built corner terrace on Jalan Bangsawan, just 400m away from Casa Fidelio, was sold for $3,541 psf.
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 Ask Buddy, a popular property listing website. For more information on unprofitable landed transactions in the past year or rental yields for Casa Fidelio, users can also browse through the various condo projects and rental listings in District 15.
