Slated to be launched in October 2021, Canninghill Piers Condo is set to be an iconic development by the City Developments Limited (CDL), CapitaLand Limited (CapitaLand), and Ascott Residence Trust (Ascott Reit) as a joint venture. The condominium, integrated with 700 exclusive apartments, will rise above the Liang Court site and comprises an astronomical area of 139,128 sq. ft. with two residential towers, commercial zones, retail outlets, as well as a hotel operated under the Moxy brand.
What makes Canninghill Piers one of the most anticipated mega-projects of the year is its prime location that’s right in the middle of the town, alongside excellent infrastructure, design features, and investment potential. The project is an amalgamation of several icons to become the next icon itself, poised to rise high above all other buildings along the Singapore River, making it a hefty investment for buyers looking to get maximum return on their investment.
Let’s walk through an unbiased review describing why Canninghill Piers is 2021’s outstanding Singapore real estate investment project.
Attributes Making Canninghill Piers an Investment Hub
Watch out for its excellent attributes making it climb to the top of your real estate investment list.
Canninghill Piers sits across the Clarke Quay
The location of the high-end condo cannot be emphasized enough that it has added up to its worth like a hundred times more. To get into details, Canninghill Piers is built on the former site of Liang Court, Novotel, and an amusement complex. It is situated along the Singapore River and right across the entertainment hub, Clarke Quay making it a landmark to reside, play and work, all at the same place.
Other attributes beefing up the prime location of the luxurious condo is its proximity to the river valley, something which many expatriates enjoy due to nearness to the schools, childcare services, and kid-friendly amenities.
At an overview, the hot investment project, high-end condominium Canninghill Piers will boast panoramic city and River views from towering residential buildings, connectivity to the Central Business District, proximity to the green solace of Fort Canning Park and Fort Canning Hill, which are also famous for having witnessed events from the World War II. There’s Orchard Road, a bustling nightlife, in-house commercial units, F & B outlets along with retail, and fantastic amusement amenities that bring your life to vibrancy.
A little walk down the memory lane further highlights the importance of the site that makes the condo another promising project after its predecessors. The mixed-use development on Liang Court was first opened in 1984, with the mall being mostly known for Japanese shops and restaurants, including the famous Daimaru department store that thrived from 1983 to 2003. The next 17 years were taken up by the Court’s Meidi-Ya supermarket, which was another anchor tenant onsite. Moreover, the mall also became home to Singapore’s first outlets of Books Kinokuniya and Saizeriya. It was not until 2019 that the shops began shutting down, leading to the closure of Liang Court itself for the redevelopment of the residential luxury condo, Canninghills Pier.
Canninghill Piers is unlike most integrated developments
There is something different to the condo that makes it an anticipated project in the country. Unlike the regular mall-plus-residential integrated developments, Canninghill Piers, jointly developed on a 99-year leasehold, is a mixed-use project with an amalgamation of icons to make it another master plan.
Besides the residential towers, there will be a commercial zone by the name of Canninghill Square, a hotel operated by Marriott International, and a serviced license with the Somerset branding. The retail mix within the condo will include supermarkets, retail shops, F&B outlets, gyms, and children-friendly services. All of this is undertaken for supervision by the three property developers that developed the condo as a joint venture, enabling them to ensure proper execution on time.
In brief, according to the URA master plan, the condominium will comprise 696 residential units, 477 hotel rooms, and 192 serviced apartments.
Canninghill Piers has all amenities going for it
There are rarely any condominiums that stand in the middle of the town, enjoy panoramic views along the river, keep all lifestyle facilities and amenities just a hand away, and still be the best place to live.
Canninghill Piers has a direct link to the Fort Canning MRT for residents who don’t normally drive. There is also Clarke Quay MRT within walking distance – seven minutes to be precise – so you fancy having access to Downtown Line and North-East Line, both. On top of that, you also have Central Expressway (CTE) at just a few minutes drive away.
The condo is strategically located in the heart of Clarke Quay, offering a wide array of diners and restaurants to the residents along the river and Robertson Quay, where friends and family can hang out. There is an overhead pedestrian bridge that drops down to the Fort Canning Park – the iconic hilltop featuring nine historical gardens – reducing the walking distance to only three minutes. The even better news is that as per the URA master plan 2019, nature lovers can look forward to more green spaces connected to the city center, including Singapore Botanic Gardens, Istana Park, and Pearl Hill’s City Park.
In-house facilities at Canninghill Piers are divided across three levels, based on the 48-story residential tower. At level 45, the higher floors, beside the great views of the surroundings, residents will enjoy Clubhouse named Sky Club and a Sky Garden. At level 24, there is a Sky gym, infinite lap pool, sky gourmet, Flexi lounge, and function room. Finally, at level 3, facilities include an outdoor jogging track, bouldering wall, and adventure-themed kids’ play area.
Such an intermixed, integrated development that has amenities a stone’s throw away is certainly a hot investment site that is being eyed by top investors of the year.
Now that we have dealt with the attributes of Canninghill Piers in detail let’s look at the pricing and pros and cons of investment.
Pricing Analysis of Canninghill Piers
The condo is found in the Core Central Region (CCR) of Singapore, which comprises other prime areas, including Sentosa. This year, there haven’t been any mega launches except for Riviere, currently averaging at $2,589 per square foot.
Besides being a condominium with countless in-house and outdoor amenities, breathtaking interior, plenty of nature nearby, and underground links to MRT stations, Canninghill Piers enjoy a great advantage over nearby projects as those are pure residential ones instead of an integrated development.
New launches like Riviere and Centennia Suites quote an average of $2500 and $2600 per sq. ft., respectively. Looking at that, there has been an appreciation in the value of similar projects, thereby putting Canninghill Pier at a greater advantage.
Currently, the pre-sale booking of Canninghill Piers condominium starts at $1,589 PSF and ends at $5,012 PSF, according to Property Guru. There are numerous types of units ranging from 1-bedroom, 3-bedroom premium to Sky Suite, Super Penthouse, and everything in between. You can find a tentative breakdown of types of units, numbers, and their estimated sizes below.
Summary of Pros and Cons of Investing in Canninghill Piers
We have discussed the location and features of the condominium, including estimated prices with a comparison to get a better idea of investment potential. Before we conclude this guide, here is a roundup of pros and cons for you to remember (if too much text is hard to absorb).
- The condo has direct views of two of the most historical symbols of the city; the Singapore River and Fort Canning Hills. The hilltop has a special historical value from the WWII and Japanese invasion of Singapore in 1942. Celebrated by the entire city with religious respect, the Canninghill Piers pivot on that sentiment to become the next icon overlooking both of these glorious features.
- Residents will get to live, play and work while living in the integrated development, for it has unreal proximity and access to the city’s central business districts. It has direct connections to MRT stations, schools, diners, CTE, to name a few. This translates to unparalleled convenience that Singapore’s residential community has not seen yet.
- URA master plan has ideas for further rejuvenation and initiatives such as Rail Corridor to Marina Bay, Connecting Green and Blue, Walk from Hill to Hill, etc.
- It has top-ranked developers behind its projects, who are overseeing the development in sections. Top schools are in proximity as well as plentiful amenities that we discussed earlier.
- Investors looking to purchase a unit to rent out have amazing news coming their way. The Canninghill Piers has high renting potential for locals and foreigners as tenants would feel no need to leave the premises, leading to a steady, stable, and appreciating income for investors.
- The developers are well aware of the worth of their project, including the fact that no new launches also work in their favor. Therefore, the condo is going to be priced at a premium.
- There are no more new residential units in the area for sale by the government, which means that investors looking to purchase a unit will have to turn to existing owners, who will ask for premium prices without any hesitation than what they originally bought it in.
Conclusion: Canninghill Piers is a great investment you must not miss out on!
Up until now, we have established that the high-end condo is a terrific investment to make in Singapore, given that the location, features, design, and pricing are rather unbeaten by any other condo in the area. We expect demand to be strong and probably will have to be balloted during launch for choice units.