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

·2-min read

The 696-unit CanningHill Piers comprises a 24-storey and 48-storey tower linked by a sky bridge (Photo: Samuel Isaac Chua/EdgeProp Singapore)

SINGAPORE (EDGEPROP) - Word on the street is that a Chinese buyer recently purchased 20 units in a bulk deal at luxury condo CanningHill Piers. The total purchase price is believed to be over $85 million for the units. The deal was brokered by agents from ERA Realty Network.

See also: CanningHill Piers chalks up 77% sales worth over $1.18 bil

The units are across various floors ranging from the sixth to 23rd floors, and they are predominantly three- 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 remaining units are large four-bedroom units of 1,959 sq ft.

Showflat of a four-bedroom unit at CanningHill Piers (Photo: Samuel Isaac Chua/EdgeProp Singapore)

All the one- and two-bedroom units at CanningHill Piers are said to be fully sold. This recent bulk purchase brings total units sold at CanningHill Piers to 639 units. Hence, the 696-unit condominium project is close to 92% sold. The project was launched last November.

Located at Clarke Quay and fronting the Singapore River, CanningHill Piers is a joint development by City Developments and CapitaLand Development. The project comprises a 24-storey and a 48-storey residential tower linked by a sky bridge.

Showflat of a three-bedroom unit at CanningHill Piers (Photo: Samuel Isaac Chua/EdgeProp Singapore)

A redevelopment of the former Liang Court, CanningHill Piers is part of an upcoming integrated development that includes CanningHill Square, with F&B and retail outlets; the 475-room hotel by Moxy under Marriott International; and 192 serviced apartments under the Somerset brand of Ascott, the serviced apartment arm of CapitaLand.

When CanningHill Piers was launched last November, a total of 538 units (77%) were taken up over one weekend, with total sales value of $1.18 billion. Average price of units sold was around $3,000 psf. Even the sole penthouse of 8,955 sq ft on the 48th floor was sold, for $48 million ($5,583 psf).

Check out the latest listings near CanningHill Piers, Clarke Quay

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