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CanningHill Piers Review : Will this be the new launch of 2021?

Updated: Feb 18





CanningHill Piers will be launched in Q4 2021.


This highly anticipated project had been on the lips of every agent since it was first announced months ago. Due to the heightened restrictions in Singapore, the launch had been delayed. Today, they had officially announced the launch of CanningHill Piers.

About CanningHill Piers




Project Name: CanningHill Piers

Developers: CDL and CapitaLand

Number of Residential units: 696 Units

Available units: 1-5 Bedroom, Sky Suites and 1 Super Penthouse






CanningHill Piers is Singapore River ONLY iconic integrated development at the heart of Clark Quay. It is also the only hill and river dual frontage residential development in the Central Area to be launched. Designed by world-renown architecture firm Bjarke Ingels Group (BIG) led by Bjarke Ingels, it promises to be the next icon of the Singapore River.


Residential



There are 2 residential towers - a 24 story tower overlooking Fort Canning Hill and a 48 storey residential tower facing the riverside. The latter is the tallest residential building along the Singapore River at 180 meters tall. It promises a panoramic view of the Singapore River and an unblock view of the City Skyline.


There are a total of 696 units with the two residential towers connected by an iconic sky bridge at Level 24. Other lifestyle facilities include a Sky Gym, Infinity Lap Pool, Sky Gourmet, Flex Lounge and Function Road. Other amenities include an outdoor jogging track, a bouldering wall and an adventure-themed children's play area.


There is a selection of one to five-bedroom premium apartments, Sky Suites and a Super Penthouse with sizes from 410 to 8,950sq ft. 75% of the units are 2 bedrooms and below. This project is highly geared towards property investors looking for rental yield returns.

Integrated Development

CanningHill Piers belong to an exclusive club in Singapore - Integrated Development. Currently, there are less than 20 such developments in Singapore. Alongside the residential towers are a Moxy brand hotel managed by Marriott International and a service residence under the Somerset brand. Additionally, there will be an F&B and retail 2 storey podium - CanningHill Square managed by CapitaMall.


Location



CanningHill Piers is located at the site of the Former Liang Court with a site area of the entire integrated development to be at 139,128 sq ft. It is located along the Singapore River and right next to the bustling Clark Quay. It is also directly linked to Fort Canning MRT on the Downtown line with the historical Fort Canning hill across the road. Minutes away from Orchard Road and CBD, CanningHill Piers location is excellent for both work and play.


Property Analysis



We based our analysis on our proprietory A.C.E assessment. A score will be given for meeting each factor. Our scoring guidelines as follow

1-3: Avoid 4-5: Can Consider 6-7: Excellent Potential


1) Distance to MRT

6/10 buyers prefer a maximum of 10 minutes walk to MRT. This would translate to a distance of 1 Km. CanningHill Piers has direct access to Fort Canning MRT that is just 100 meters away.


Scoring: 1


2) Growth Hotspot


D6 is a relatively small area consisting of City Hall, High Street, North Bridge Road. Given its location, new development may be limited. However, with its close proximity to the Orchard Road belt that is undergoing rejuvenation, it could enjoy the spillover effect. Additionally, part of the road that currently separated the project site and the river will be transformed into an attractive riverfront promenade that connects seamlessly with Clark Quay.


Scoring: 1


3) Potential GLS Plots or Enbloc Nearby

There are 2 GLS plots directly across the road at the foot of Fort Canning. While it is not open for sale yet, there are future potential for it. Given the lack of residential plots in D6, CanningHill Piers can potentially set the benchmark for this district.


Scoring: 1


4) Developer's Profit Margin

Liang Court was sold En Bloc to CDL and Capitaland for $400M. There was also a lease top up from 57 to 99 years. Cannnighill Piers will also be an integrated project consisting of residential, service apartments and hotels. As such, breakeven prices for CanningHill Piers are not as clear cut as GLS developments.


Scoring : 0



5) Surrounding Price Comparision & Valuation

The price for CanningHill Piers are not announced yet. The price that most would look at is at $3000psf. Anything significantly higher may damper its attractiveness to the buyers. If prices start from $2500, it will make CanningHill Piers a strong buy.


Completing New Launches along the Singapore River includes Rivière (D3 - 1BR from $2766PSF) and The Avenir (D9 1BR from $2844 PSF)


As the pricing is unavailable as of this moment, we will give a score of 0. It will be updated once the prices are available.


Scoring : 0


6) Rental Yields and Rentability

Given the location and accessibility, the CBD provides a large catchment area of tenants for CanningHill Piers. Additionally, the service apartments would provide a benchmark for rentals. Traditionally, service apartments are priced higher than surrounding rentals as it is often used for a shorter stay. This gives the investors a buffer when it comes to rentability.


Scoring: 1


7) Property Size

The rule of thumb is that projects with greater than 600 units are preferred as they will create more transactions and thus impact future pricing. CanningHill Piers has a decent 696 units for launch.

Additionally, the marketing for CanningHill Piers is very robust given the CapitaLand and CDL connections. As such we anticipate a high awareness that could translate to high demand for this development.


Scoring: 1





Bonus: Exit Strategy

Exit strategy differs for each investor. Some are more speculative and would purchase it during launch only to resell when TOP. Others are more long term as they look into a rental for yields. Scoring for this would be base on individuals.


To evaluate your exit strategy, we will provide a complimentary consultation. Make an appointment with us today for a comprehensive analysis of your property roadmap.


Private Home Collection is part of CanningHill Piers Developer's Direct Sales team. Do give us a call or make an appointment for E-Brochure, Floor Plan, VVIP Developer's Discount and Priority Viewing queue.


Showflat viewings are by appointment only.












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