Chinese national buys 20 units at CanningHill Piers for over $85 mil
Word on the street is that a Chinese client lately bought 20 units in a mass deal at high-end condo unit CanningHill Piers. The total acquisition value is assumed to be over $85 million for the units. The deal was agented by agents from ERA Realty Network.
Found at Clarke Quay and overlooking the Singapore River, CanningHill Piers is a mutual property by City Developments and CapitaLand Development. The property comprises a 24-storey as well as a 48-storey household high rise attached by a sky extension.
A redevelopment of the former Liang Court, CanningHill Piers is part of an upcoming incorporated progression that consists of CanningHill Square, with F&B and market shops; the 475-room property by Moxy under Marriott International; and 192 serviced flats under the Somerset company of Ascott, the serviced apartment arm of CapitaLand.
All the single- as well as two-bedroom units at CanningHill Piers are mentioned to be completely offered. This recent mass buy carries total units sold at CanningHill Piers to 639 units. Hence, the 696-unit condominium project is close to 92% marketed. The property was launched last November.
As Soon As CanningHill Piers was introduced last November, an overall of 538 units (77%) were occupied over a single weekend break, with entire sales worth of $1.18 billion. Ordinary cost of units offered was around $3,000 psf. Also the sole penthouse of 8,955 sq ft on the 48th ground was sold off, for $48 million ($5,583 psf).
The units are from numerous floors varying from the 6th to 23rd grounds, as well as they are mostly 3- and also 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 continuing to be units are big four-bedroom units of 1,959 sq ft.