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.

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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.

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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.

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