Chinese national buys 20 units at CanningHill Piers for over $85 mil
Word on the street is that a Chinese purchaser recently purchased 20 units in a mass offer at luxury flat CanningHill Piers. The total transaction cost is assumed to be over $85 million for the units. The deal was agented by representatives from ERA Realty Network.
The Moment CanningHill Piers was launched last November, an overall of 538 units (77%) were occupied over a single weekend, with whole sales valuation of $1.18 billion. Typical fee of units reselled was almost $3,000 psf. Even the sole penthouse of 8,955 sq ft on the 48th level was showcased, for $48 million ($5,583 psf).
A redevelopment of the former Liang Court, CanningHill Piers is part of an upcoming consolidated progression that involves CanningHill Square, with F&B as well as market shops; the 475-room resort by Moxy under Marriott International; as well as 192 serviced homes under the Somerset brand of Ascott, the serviced home arm of CapitaLand.
All the one- and also two-bedroom units at CanningHill Piers are mentioned to be totally been sold. This latest bulk buy provides total units cost CanningHill Piers to 639 units. For this reason, the 696-unit condominium project is near to 92% distributed. The undertaking was opened last November.
Situated at Clarke Quay as well as fronting the Singapore River, CanningHill Piers is a joint property by City Developments and also CapitaLand Development. The venture makes up a 24-storey and also a 48-storey property tower connected by a sky bridge.
The units are from different levels ranging from the 6th to 23rd grounds, as well as they are primarily 3- as well as four-bedroom units in a number of stacks. 6 of the units are three-bedroom units of 1,259 sq ft, while another 5 units are three-bedroom units of 1,130 sq ft. The staying units are big four-bedroom units of 1,959 sq ft.