Chinese national buys 20 units at CanningHill Piers for over $85 mil
A redevelopment of the former Liang Court, CanningHill Piers is part of an upcoming incorporated innovation that features CanningHill Square, with F&B and also market sites; the 475-room property by Moxy under Marriott International; and also 192 serviced homes under the Somerset brand of Ascott, the serviced residence arm of CapitaLand.
Word on the street is that a Chinese client recently bought 20 units in a bulk deal at luxury flat CanningHill Piers. The total investment rate is assumed to be over $85 million for the units. The deal was agented by representatives from ERA Realty Network.
The units are all over numerous levels ranging from the sixth to 23rd floors, and they are primarily 3- and four-bedroom units in many stacks. 6 of the units are three-bedroom units of 1,259 sq ft, while one more five units are three-bedroom units of 1,130 sq ft. The staying units are huge four-bedroom units of 1,959 sq ft.
The Moment CanningHill Piers was launched last November, a total amount of 538 units (77%) were taken up over a single weekend break, with full sales value of $1.18 billion. Standard price of units marketed was just about $3,000 psf. Also the sole penthouse of 8,955 sq ft on the 48th floor was reselled, for $48 million ($5,583 psf).
Found at Clarke Quay as well as fronting the Singapore River, CanningHill Piers is a joined formation by City Developments and CapitaLand Development. The proposal comprises a 24-storey and a 48-storey domestic high rise attached by a sky extension.
All the one- as well as two-bedroom units at CanningHill Piers are claimed to be completely marketed. This recent mass transaction gives entire units sold at CanningHill Piers to 639 units. Thus, the 696-unit condominium project is near to 92% sold. The property was opened last November.