Chinese national buys 20 units at CanningHill Piers for over $85 mil
The units are from different floors varying from the sixth to 23rd floors, and also they are mainly three- and four-bedroom units in multiple stacks. Six of the units are three-bedroom units of 1,259 sq ft, while an additional 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 one- and two-bedroom units at CanningHill Piers are stated to be entirely sold. This recent bulk purchase provides complete units cost CanningHill Piers to 639 units. Thus, the 696-unit condominium venture is close to 92% distributed. The undertaking was opened last November.
Situated at Clarke Quay and overlooking the Singapore River, CanningHill Piers is a common project by City Developments as well as CapitaLand Development. The property includes a 24-storey as well as a 48-storey property tower linked by a sky extension.
A redevelopment of the former Liang Court, CanningHill Piers becomes part of an upcoming incorporated development that includes CanningHill Square, with F&B as well as market sites; the 475-room resort by Moxy under Marriott International; as well as 192 serviced flats under the Somerset brand of Ascott, the serviced flat arm of CapitaLand.
When CanningHill Piers was released last November, a total of 538 units (77%) were gotten off over one weekend, with overall sales worth of $1.18 billion. Ordinary price of units reselled was almost $3,000 psf. Also the single penthouse of 8,955 sq ft on the 48th level was reselled, for $48 million ($5,583 psf).
Talk on the street is that a Chinese purchaser lately acquired 20 units in a bulk offer at luxury condo CanningHill Piers. The overall transaction value is believed to be over $85 million for the units. The agreement was agented by representatives from ERA Realty Network.