19 March 2025, Singapore - PropNex Realty, Singapore's largest real estate agency has today announced that a freehold landed development, Casa Fidelio in District 15 will be put up for collective sale via tender on 20 March 2025. The site spans 1,606.6 square meters (approximately 17,293 square feet) and has reserve price of $24 million, which works out to $1,388 psf on land area.

Built in 1990, Casa Fidelio comprises seven units of cluster terraces presently and it is nestled within the serene landed residential enclave of Fidelio Street. The property is designated for residential use under the 2019 Master Plan for two-storey mixed landed development. This zoning allows for a variety of possibilities, including luxury cluster houses, landed terraces, or a single grand mansion for ultra-high-net-worth individuals.

Laurence Wong (???), Head of Collective Sales at PropNex, said, "Casa Fidelio presents a rare and exciting redevelopment opportunity for developers and investors looking to capitalize on Singapore's resilient landed housing market. 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-poised for transformation into a modern residential development that caters to the demand for landed homes in the East Coast area.

Furthermore, District 15 is one of Singapore's most sought-after residential areas, known for its vibrant community and strong housing demand. The limited supply of freehold land in this prime location further enhances Casa Fidelio's appeal, making it a compelling investment opportunity and valuable asset for the long-term," Mr Wong added.

Despite buying interest, homes at Casa Fidelio are tightly-held, with no transactions done after 2021, according to caveats lodged. In 2024, only two freehold landed homes were sold in Fidelio Street: a terrace house at $2,643 psf on land; and a semi-detached house at $2,629 psf. Notably, less than 400m away, a recently-built corner terrace on Jalan Bangsawan, off Swan Lake Avenue, was transacted at $3,541 psf in December 2024. The collective sale of Casa Fidelio - the owners' first attempt at en bloc sale - offers developers and investors a rare access to limited freehold land in the area.

The site is well-connected to major expressways, including the East Coast Parkway (ECP) and Pan-Island Expressway (PIE), ensuring smooth travel to the central business district (CBD) and other parts of Singapore. Public transport options are also easily accessible, with the Kembangan and Bedok MRT stations nearby.

The property is also a short drive from East Coast Park, a popular recreational hub, and is near the vibrant Katong and Joo Chiat precincts, renowned for their Peranakan heritage, trendy cafes, and diverse dining options. Everyday conveniences are also readily available at Siglap Village, Siglap Centre, ESR BizPark@Chai Chee, and Bedok Mall. In the coming years, the completion of an integrated public housing development - Kembangan Wave - will also provide more amenities to residents. Kembangan Wave comprises new HDB flats, and the project includes a community club with an eating house, shops, supermarket, and an outpatient healthcare facility, amongst other facilities.

For families, the location is highly attractive, with proximity to schools such as Opera Estate Primary School, St. Stephen's School, and Victoria School. This further enhances the site's appeal as a prime residential address.

The collective sale tender for Casa Fidelio will close on 22 April 2025 at 3 PM. Interested parties are invited to submit their offers and seize this rare redevelopment opportunity in one of Singapore's most desirable neighborhoods.