Chinese national buys 20 units at CanningHill Piers for over $85 mil

Located at Clarke Quay and also facing the Singapore River, CanningHill Piers is a joined property by City Developments and CapitaLand Development. The venture makes up a 24-storey as well as a 48-storey home tower attached by a sky extension.

The Moment CanningHill Piers was introduced last November, a total amount of 538 units (77%) were picked up over one weekend break, with overall sales valuation of $1.18 billion. Common fee of units sold off was almost $3,000 psf. Even the single penthouse of 8,955 sq ft on the 48th ground was traded, for $48 million ($5,583 psf).

The units are all over numerous levels ranging from the sixth to 23rd floors, as well as they are mostly three- and also four-bedroom units in numerous stacks. Six of the units are three-bedroom units of 1,259 sq ft, while one more five units are three-bedroom units of 1,130 sq ft. The remaining units are huge four-bedroom units of 1,959 sq ft.

All the single- as well as two-bedroom units at CanningHill Piers are mentioned to be entirely marketed. This recent bulk transaction provides complete units cost CanningHill Piers to 639 units. Therefore, the 696-unit condo venture is near to 92% distributed. The property was opened last November.

Word on the street is that a Chinese investor lately bought 20 units in a mass bargain at high-end flat CanningHill Piers. The whole acquisition rate is thought to be over $85 million for the units. The special offer was agented by agents from ERA Realty Network.

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A redevelopment of the first Liang Court, CanningHill Piers becomes part of an upcoming consolidated development that consists of CanningHill Square, with F&B as well as retail sites; the 475-room property by Moxy under Marriott International; and 192 serviced residences under the Somerset brand of Ascott, the serviced condominium arm of CapitaLand.

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