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

A redevelopment of the previous Liang Court, CanningHill Piers belongs to an upcoming consolidated development that consists of CanningHill Square, with F&B as well as market shops; the 475-room resort by Moxy under Marriott International; as well as 192 serviced apartments under the Somerset brand of Ascott, the serviced condominium arm of CapitaLand.

Ki Residences Hoi Hup Realty and Sunway

When CanningHill Piers was released last November, a total of 538 units (77%) were occupied over one weekend, with entire sales valuation of $1.18 billion. Normal rate of units reselled was around $3,000 psf. Even the sole penthouse of 8,955 sq ft on the 48th ground was easily sold, for $48 million ($5,583 psf).

Talk on the street is that a Chinese investor recently got 20 units in a mass deal at upscale condo unit CanningHill Piers. The total investment price is believed to be over $85 million for the units. The agreement was agented by representatives from ERA Realty Network.

All the one- and two-bedroom units at CanningHill Piers are mentioned to be entirely been sold. This latest bulk transaction gives entire units cost CanningHill Piers to 639 units. For this reason, the 696-unit apartment project is close to 92% marketed. The undertaking was released last November.

The units are throughout several levels varying from the 6th to 23rd grounds, and they are mostly 3- and four-bedroom units in several stacks. Six 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 continuing to be units are huge four-bedroom units of 1,959 sq ft.

Found at Clarke Quay and also fronting the Singapore River, CanningHill Piers is a mutual property by City Developments as well as CapitaLand Development. The venture includes a 24-storey and also a 48-storey non commercial tower linked by a sky extension.