Chinese national buys 20 units at CanningHill Piers for over $85 mil
Word on the street is that a Chinese buyer just recently acquired 20 units in a bulk bargain at high-end apartment CanningHill Piers. The full purchase value is believed to be over $85 million for the units. The special offer was brokered by representatives from ERA Realty Network.
When CanningHill Piers was launched last November, a total of 538 units (77%) were gotten off over one weekend, with total sales worth of $1.18 billion. Average value of units sold off was around $3,000 psf. Also the single penthouse of 8,955 sq ft on the 48th floor was offered, for $48 million ($5,583 psf).
All the one- and also two-bedroom units at CanningHill Piers are stated to be completely sold. This recent bulk transaction provides overall units cost CanningHill Piers to 639 units. Thus, the 696-unit condo venture is near to 92% sold. The project was introduced last November.
Located at Clarke Quay as well as overlooking the Singapore River, CanningHill Piers is a mutual project by City Developments as well as CapitaLand Development. The venture comprises a 24-storey and a 48-storey property tower attached by a sky extension.
A redevelopment of the former Liang Court, CanningHill Piers is part of an upcoming consolidated development that features CanningHill Square, with F&B as well as retail outlets; the 475-room property by Moxy under Marriott International; and also 192 serviced homes under the Somerset company of Ascott, the serviced condominium arm of CapitaLand.
The units are across different levels varying from the sixth to 23rd floors, as well as they are primarily three- and also 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 remaining units are huge four-bedroom units of 1,959 sq ft.