Chinese national buys 20 units at CanningHill Piers for over $85 mil
Word on the street is that a Chinese purchaser just recently invested in 20 units in a mass deal at luxury apartment CanningHill Piers. The total investment cost is believed to be over $85 million for the units. The offer was brokered by representatives from ERA Realty Network.
All the one- and two-bedroom units at CanningHill Piers are mentioned to be fully offered. This more recent mass transaction gives overall units cost CanningHill Piers to 639 units. Therefore, the 696-unit apartment project is near to 92% marketed. The project was introduced last November.
A redevelopment of the former Liang Court, CanningHill Piers belongs to an upcoming integrated progression that involves CanningHill Square, with F&B and also retail sites; the 475-room hotel by Moxy under Marriott International; and 192 serviced condos under the Somerset label of Ascott, the serviced residence arm of CapitaLand.
Found at Clarke Quay and overlooking the Singapore River, CanningHill Piers is a common development by City Developments and also CapitaLand Development. The assignment constitutes a 24-storey as well as a 48-storey household high rise linked by a sky bridge.
As Soon As CanningHill Piers was launched last November, a total amount of 538 units (77%) were picked up over a single weekend break, with total sales market value of $1.18 billion. Standard cost of units reselled was around $3,000 psf. Also the sole penthouse of 8,955 sq ft on the 48th level was offered, for $48 million ($5,583 psf).
The units are all over various floors ranging from the sixth to 23rd floors, as well as they are mostly three- and four-bedroom units in several stacks. Six 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 continuing to be units are huge four-bedroom units of 1,959 sq ft.