Chinese national buys 20 units at CanningHill Piers for over $85 mil
A redevelopment of the previous Liang Court, CanningHill Piers is part of an upcoming incorporated enhancement that includes CanningHill Square, with F&B and market shops; the 475-room resort by Moxy under Marriott International; and 192 serviced condos under the Somerset company of Ascott, the serviced condo arm of CapitaLand.
Word on the street is that a Chinese client recently invested in 20 units in a mass deal at high-end condo CanningHill Piers. The full purchase cost is believed to be over $85 million for the units. The special offer was agented by representatives from ERA Realty Network.
The units are across several floors ranging from the sixth to 23rd grounds, and they are mainly 3- as well as four-bedroom units in many stacks. 6 of the units are three-bedroom units of 1,259 sq ft, while an additional 5 units are three-bedroom units of 1,130 sq ft. The staying units are huge four-bedroom units of 1,959 sq ft.
All the one- and also two-bedroom units at CanningHill Piers are said to be totally sold. This recent mass investment gives entire units cost CanningHill Piers to 639 units. For this reason, the 696-unit condominium venture is near to 92% distributed. The venture was released last November.
As Soon As CanningHill Piers was introduced last November, a total of 538 units (77%) were picked up over a single weekend, with whole sales market value of $1.18 billion. Average value of units sold was around $3,000 psf. Also the sole penthouse of 8,955 sq ft on the 48th floor was offered, for $48 million ($5,583 psf).
Found at Clarke Quay and facing the Singapore River, CanningHill Piers is a common formation by City Developments and CapitaLand Development. The property includes a 24-storey and also a 48-storey home tower connected by a sky link.