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

Found at Clarke Quay as well as fronting the Singapore River, CanningHill Piers is a joint property by City Developments and CapitaLand Development. The property constitutes a 24-storey and also a 48-storey residential high rise linked by a sky link.

When CanningHill Piers was launched last November, an overall of 538 units (77%) were picked up over a single weekend, with complete sales valuation of $1.18 billion. Typical price of units offered was almost $3,000 psf. Also the sole penthouse of 8,955 sq ft on the 48th ground was reselled, for $48 million ($5,583 psf).

Word on the street is that a Chinese buyer recently got 20 units in a mass bargain at luxury condo CanningHill Piers. The overall purchase price is assumed to be over $85 million for the units. The agreement was brokered by representatives from ERA Realty Network.

The units are across different floors varying from the 6th to 23rd grounds, and they are primarily 3- and four-bedroom units in several stacks. Six of the units are three-bedroom units of 1,259 sq ft, while one more 5 units are three-bedroom units of 1,130 sq ft. The staying units are huge four-bedroom units of 1,959 sq ft.

All the one- and also two-bedroom units at CanningHill Piers are claimed to be totally marketed. This more recent mass acquisition carries overall units sold at CanningHill Piers to 639 units. Hence, the 696-unit residence venture is close to 92% distributed. The project was launched last November.

The Watergardens UOL & Kheng Long

A redevelopment of the previous Liang Court, CanningHill Piers belongs to an upcoming integrated project that includes CanningHill Square, with F&B as well as retail sites; the 475-room hotel by Moxy under Marriott International; and 192 serviced apartments under the Somerset label of Ascott, the serviced house arm of CapitaLand.

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