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

/ EdgeProp Singapore |

June 1, 2022 6:31 PM SGT

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.

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.

CANNINGHILL PIERS 4BR SHOWFLAT - EDGEPROP SINGAPORE

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.

CANNINGHILL PIERS 3BR SHOWFLAT - EDGEPROP SINGAPORE

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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