Chinese national buys 20 units at CanningHill Piers for over $85 mil
As soon as CanningHill Piers was released last November, an overall of 538 units (77%) were picked up over one weekend, with entire sales valuation of $1.18 billion. Typical price of units offered was just about $3,000 psf. Also the single penthouse of 8,955 sq ft on the 48th floor was sold, for $48 million ($5,583 psf).
Talk on the street is that a Chinese investor just recently got 20 units in a bulk deal at upscale flat CanningHill Piers. The whole transaction rate is thought to be over $85 million for the units. The agreement was brokered by agents from ERA Realty Network.
All the single- and two-bedroom units at CanningHill Piers are mentioned to be entirely been sold. This more recent mass purchase brings complete units sold at CanningHill Piers to 639 units. Hence, the 696-unit residence project is near to 92% sold. The property was introduced last November.
A redevelopment of the first Liang Court, CanningHill Piers belongs to an upcoming integrated project that consists of CanningHill Square, with F&B as well as market shops; the 475-room resort by Moxy under Marriott International; and 192 serviced condos under the Somerset brand name of Ascott, the serviced residence arm of CapitaLand.
Located at Clarke Quay and also overlooking the Singapore River, CanningHill Piers is a joined property by City Developments and CapitaLand Development. The project includes a 24-storey as well as a 48-storey household tower attached by a sky link.
The units are from different levels ranging from the sixth to 23rd floors, and they are mostly three- and four-bedroom units in multiple stacks. Six of the units are three-bedroom units of 1,259 sq ft, while another 5 units are three-bedroom units of 1,130 sq ft. The staying units are big four-bedroom units of 1,959 sq ft.