Chinese national buys 20 units at CanningHill Piers for over $85 mil
All the single- and two-bedroom units at CanningHill Piers are claimed to be fully sold. This more recent mass purchase gives total units sold at CanningHill Piers to 639 units. Thus, the 696-unit condo venture is close to 92% marketed. The project was opened last November.
A redevelopment of the former Liang Court, CanningHill Piers belongs to an upcoming integrated development that features CanningHill Square, with F&B as well as market shops; the 475-room property by Moxy under Marriott International; as well as 192 serviced condos under the Somerset company of Ascott, the serviced home arm of CapitaLand.
Word on the street is that a Chinese investor recently invested in 20 units in a mass bargain at upscale condo unit CanningHill Piers. The overall acquisition cost is believed to be over $85 million for the units. The offer was agented by representatives from ERA Realty Network.
Found at Clarke Quay as well as fronting the Singapore River, CanningHill Piers is a common property by City Developments and CapitaLand Development. The proposal constitutes a 24-storey and also a 48-storey household tower connected by a sky overpass.
The Moment CanningHill Piers was launched last November, a total amount of 538 units (77%) were taken up over a single weekend, with complete sales value of $1.18 billion. Ordinary cost of units sold off was close to $3,000 psf. Even the sole penthouse of 8,955 sq ft on the 48th ground was reselled, for $48 million ($5,583 psf).
The units are throughout various floors varying from the 6th to 23rd floors, and also they are mainly 3- and also four-bedroom units in many stacks. 6 of the units are three-bedroom units of 1,259 sq ft, while another five units are three-bedroom units of 1,130 sq ft. The staying units are big four-bedroom units of 1,959 sq ft.