you need some level of finger independence
I just got the score this (thanks to this thread, I wasn't familiar with this piece before) and played through it. Based on that, I would say you need a fairly well-developed
level of finger independence to play this piece. Sure it's in C, and sure there aren't tricky rhythms, syncopation or big block chords. But, unlike page one of those Schmitt's exercises you linked to, with Passacaglia, I found that I can't put either hand on auto-pilot and getting it up close to the marked tempo will be an additional challenge. Well, ok, maybe I will be able to get the RH into auto-pilot relatively quickly, but since it's more common to have pieces where you can put the LH on auto, this is another feature making this piece more challenging.
Oh, and it's not that you need to be able to reach an octave so much as you need make smooth transitions beyond an octave and be comfortable with keyboard geography enough to play arpeggios in one hand that go beyond an octave, the left hand moving up and down the keyboard the way it does will be quite difficult for a lot of beginners.
So I would say that the LH or RH part on its own might be upper-beginner level, but the technique needed to put the two hands together pushes this piece up into the intermediate level, and possibility upper intermediate.
Having said that, I'm going to put this piece into my practice menu and see how long it takes me to get it up close to the metronome marking of MM=130.
Maybe I'll change my mind after working on it for a few days, but at first read-through, I would say this is definitely not a beginner piece.
ETA: how do you pronounce the name of this piece? I don't think I can include it in my repertoire if I can't pronounce the name!!