Chinese national buys 20 units at CanningHill Piers for over $85 mil


A redevelopment of the previous Liang Court, CanningHill Piers becomes part of an upcoming incorporated development that includes CanningHill Square, with F&B as well as retail shops; the 475-room property by Moxy under Marriott International; and also 192 serviced apartments under the Somerset brand name of Ascott, the serviced house arm of CapitaLand.

All the one- and two-bedroom units at CanningHill Piers are stated to be completely sold. This more recent bulk acquisition carries complete units cost CanningHill Piers to 639 units. For this reason, the 696-unit apartment venture is near to 92% distributed. The project was released last November.

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The units are throughout different floors ranging from the 6th to 23rd floors, and they are mainly three- and also four-bedroom units in several 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 large four-bedroom units of 1,959 sq ft.

Talk on the street is that a Chinese purchaser lately got 20 units in a bulk deal at deluxe flat CanningHill Piers. The overall acquisition cost is thought to be over $85 million for the units. The deal was brokered by agents from ERA Realty Network.

Located at Clarke Quay as well as facing the Singapore River, CanningHill Piers is a mutual development by City Developments and also CapitaLand Development. The property makes up a 24-storey and a 48-storey residential tower linked by a sky extension.

As Soon As CanningHill Piers was launched last November, a total amount of 538 units (77%) were taken up over one weekend break, with overall sales market value of $1.18 billion. Common cost of units sold off was around $3,000 psf. Even the single penthouse of 8,955 sq ft on the 48th floor was marketed, for $48 million ($5,583 psf).


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