CanningHill Piers, A Landmark Residence nestled between Fort Canning Hill & Singapore River
May 24, 2023
CanningHill Piers is an upcoming 99-year leasehold integrated development by joint venture between Capitaland Limited and City Developments Limited. It is located on River Valley Road between the historical Fort Canning Hill and iconic Singapore River at District 6. It will have 2 residential towers each at 48-storey and 24-storey, consisting of 696 units over 139,128 sq ft of land area. This will be the tallest luxury residential development along the Singapore River and will be designed by world renowned Danish Architecture firm, Bjarke Ingels Group. The mixed development includes 20-storey Somerset Serviced Residence to be managed by Ascott Ltd with 192 guest rooms and 21-storey Moxy Hotel to be managed by Marriott International with 477 guest rooms. There will be a 2-storey Commercial podium, CanningHill Square, for Retail shops and Food & Beverage outlets and a supermarket in the basement level which will be managed by Capitaland.
Situated in the heart of Clarke Quay, CanningHill Piers comes with excellent connectivity in public transportation, a wide range of amenities with accessible conveniences and a vibrant lifestyle with a variety of entertainment. Making it a great location and ideal property for individuals, couples, families and investors both local and foreign.
CanningHill Piers sales previews commence from Friday, 5 November 2021, and the target for completion is in 2025. It will be jointly developed by Capitaland Limited and City Developments Limited via Legend Quay Pte Ltd. CapitaLand Limited (CapitaLand) is one of Asia’s largest diversified real estate groups. Headquartered and listed in Singapore, CapitaLand’s portfolio spans across diversified real estate classes which includes commercial, retail; business park, industrial and logistics; integrated development, urban development; as well as lodging and residential. City Developments Limited (CDL) is a leading global real estate company with a network spanning 112 locations in 29 countries and regions. Listed on the Singapore Exchange, the Group is one of the largest companies by market capitalisation with a geographically diverse portfolio comprising residences, offices, hotels, serviced apartments, integrated developments and shopping malls.
WHAT MAKES CANNINGHILL PIERS AN IDEAL HOME?
Located at prime District 6, CanningHill Piers is situated at the Core Central Region (CCR), the most desired region in all of Singapore. The one and only property in Singapore with a unique view of two nature elements, the hill and the river as it’s immediate surroundings. Being a short drive to the icons of Singapore, it is a mere 5 minutes’ drive away from the Central Business District, 7 minutes’ from Orchard Road and 10 minutes’ from Marina Bay Sands.
CanningHill Piers is the ideal permanent home and investment opportunity as its location provides limitless amenities and conveniences within the immediate vicinity. All educational institution levels can be found within 2 km from CanningHill Piers including well renowned ones. Many shopping centres for convenience, entertainment, banking needs and a wide range of dining options. For medical purposes, there are a few medical centres within 2km such as Singapore General Hospital, Raffles Hospital, Mount Elizabeth Hospital and Medical Centre to name a few.
It is located within old world charm but is complete with the integration of innovation with smart home features. With the development planning for CanningHill Piers being an integrated development and upcoming plans to reposition Clarke Quay as a wellness and lifestyle destination, homeowners will find an upside potential to this development.
CANNINGHILL PIERS IS UNPARALLELED IN CONNECTIVITY
MRT riders will be directly linked via underpass to Fort Canning MRT station on the Downtown Line or take only an 8-minute walk to Clarke Quay MRT station on the North East Line.
For residents who prefer to drive, they can access the CBD via the Central Expressway (CTE) which is only a 5-minute drive away and other easily accessible major roads from CanningHill Piers are New Bridge Road and the Marina Coastal Expressway (MCE).
Being a waterfront development has its perks such as an alternate route from land transport via river taxis to Marina Bay and Robertson Quay.
CANNINGHILL PIERS HAS EXCELLENT OPTIONS OF EDUCATIONAL INSTITUTIONS
CanningHill Piers is surrounded by learning institutions for all educational levels and provides residents with a wide range of choices to survey for a school. This ensures parents that school selection will be a breeze for every level. There are up to 10 pre-schools within 1 km and approximately 6 kindergartens within 2 km, making for convenient drop-offs and pick-ups.
Here are some of the primary and secondary schools within approximately 2km to list a few:-
- River Valley Primary School (approx. 1 km)
- St Margaret’s Primary School (approx. 1.5 km)
- Cantonment Primary School (approx. 1.7 km)
- Stamford Primary School (approx. 2 km)
- Anglo Chinese Junior School (approx. 2.2 km)
- Outram Secondary School (approx. 0.9 km)
For other educational institutions, here are some within the vicinity:-
- Raffles College of Higher Education (approx. 0.2 km)
- Nanyang Institute of Management (approx. 0.2 km)
- BAC College (Singapore) (approx. 0.3 km)
- Singapore Management University (approx. 1.1 km)
- Nanyang Academy of Fine Arts (approx. 1.3 km)
- Practice Performing Arts School (approx. 1.4 km)
- City College School of Design and Entrepreneurship (approx. 1.5 km)
- Lasalle College of Arts (approx. 1.6 km)
- Melior International College (approx. 1.8 km)
CANNINGHILL HAS PLENTY OF SHOPPING MALLS
Not taking into account the integrated commercial levels to be managed by Capitaland within CanningHill Piers itself, there is a wide selection of existing varied shopping malls for residents’ retail therapy, some conveniently just a hop and skip away.
1. UE Shopping Mall (400 m - 5 minute walk)
This is a light-filled destination mall across 4 levels offering an exciting mix of enrichment, entertainment and lifestyle services consisting of a grocery store, cafes, restaurants and retail.
2. Peninsula Shopping Centre Singapore (800 m - 11 minute walk)
Also known as Peninsula Shopping Complex, it is one of the longest running mall, opened in 1974, which features a vast variety of items for sale in its retail shops. It is famous for its sports and music shops, tailors and photography shops. The shops provide a diverse and unique range of products not found in a standard retail mall.
3. Clarke Quay Central (400 m – 5 minute walk)
It is a picturesque hub for shopping, dining and lifestyle with a view of Singapore’s riverfront, making it a destination not just for shoppers. With 5 levels of delectable gastronomical variety and an eclectic array of retail shops, making it a destination to go to.
4. Paragon Shopping Centre (2.4 km - 7 minute drive)
Paragon is a premier upscale mall located on Orchard Road housing luxury consumer goods and the sought-after in-trend brands making it the coice destination for up-market shoppers.
5. Orchard Central (1.5 km - 5 minute drive)
Located in the heart of Orchard Road, this mall is differentiated with a stylish concept of a collection of art installations and housing high street brands and provides lifestyle services ranging from dining, shopping, beauty and wellness.
6. Raffles City (1.8 km - 6 minute drive)
Raffles City is a contemporary and fashion-forward mall designed by internationally acclaimed architect, I.M.Pei to be "the city within a city" and like a city it is alive with wide offerings from exciting fashion tenants, enhanced food and beverage (F&B) choices and beauty-on-the-go selections, with a something for everyone making it a destination must.
CANNINGHILL PIERS HAS AN ARRAY OF LEISURE OPTIONS
CanningHill Piers’ location will provide residents with excellent accessibility to all of Singapore’s popular attractions. Residents will be spoilt for choice on leisurely activities to do with friends and family. Listed below are the options closer to CanningHill.
1. Fort Canning Park
As parks go, this is an interesting park to visit with historical significance. Fort Canning Park, an iconic hilltop landmark, has witnessed many of Singapore's historical milestones. It features nine historical gardens - the Pancur Larangan, Artisan’s Garden, Sang Nila Utama Garden, Jubilee Park (Phase 1), Raffles Garden, First Botanic Garden, Farquhar Garden, Spice Garden and Armenian Street Park. Accompanying these gardens are wayfinding and trail guides which will allow visitors to plan their own trail and explore the hill at their own pace.
2. Singapore River Cruise
Singapore River Cruise conducts tours on traditional bumboats departing from colorful Clarke Quay. Bumboats on this historic waterway remind us of its rustic charm where one can acquaint themselves with Singapore's history and modernity in one classic experience learning about the rich past of Raffles Landing Site, The Merlion, the Esplanade, Marina Bay Sands, and more.
3. National Museum of Singapore
The National Museum of Singapore is the oldest museum in Singapore dedicated to the history of Singapore dating back to 1849. It is a great destination for one to learn where we come from with the museum's repository of fascinating knowledge on our nation’s history and culture and how Singapore has blossomed.
4. Merlion Park
Merlion Park is Singapore’s famous landmark and a major tourist attraction, located near the Central Business District. The Merlion is a mythical creature with a lion's head and the body of a fish that is widely used as a mascot and national personification of Singapore. Besides its significance, Merlion Park is a nice location for an evening stroll to soak in the city.
5. Gardens by the Bay
Located by the Marina Bay Waterfront in the heart of Singapore, Gardens by the Bay is a sanctuary for nature lovers and premier horticultural destination for budding horticulturalists. It spans 101 hectares (250 acres) in the Central Region of Singapore, adjacent to the Marina Reservoir and makes the best outdoor activity for family and friends.
6. Clarke Quay
Clarke Quay is a historical riverside quay in Singapore, located within the Singapore River Planning Area. The quay is situated upstream from the mouth of the Singapore River and Boat Quay. One of its most popular attractions is its exciting host of CQ's signature events happening once every quarter. Clarke Quay has become known as a hub of Singaporean nightclubs including Zirca, and up until 2008, the Ministry of Sound.
CANNINGHILL PIERS’ IS A DINER’S DELIGHT
Residents of CanningHill Piers will not need to go far for a variety of dining options. Besides the usual food and beverage options one can find in a shopping mall that surrounds CanningHill Piers, there is a wide range of international cuisine and F&B chain restaurants available along Singapore River, from sophisticated Robertson Quay to the vibrant buzzing Clarke Quay where CanningHill Piers sits. For those looking for localised taste, residents can head to one-stop food courts, such as People’s Park Food Centre, Hong Lim Market & Food Centre or Maxwell Food Centre.
As for residents who are looking for high-end, fine dining and gourmet experiences, look no further than Orchard Road. With plenty of coffeehouses, restaurants and bars offering exquisite culinary experiences, residents will be left with their taste palettes satisfied.
CANNINGHILL IS A 99-YEAR LEASEHOLD PROPERTY
99-years leasehold development projects offer attractive advantages to both buyers seeking an own-stay purchase and individuals interested in investing.
99-Years Leasehold Properties are in High Demand
With boutique freehold projects making up the majority of new developments these days, especially in traditionally prime districts like District 9, 10, and 11, a 99-Years Leasehold new development’s lower quantum price of at least 15-20% of a Freehold property in the same area creates an attractive value and high demand for interested buyers.
Not only is the 99-Years Leaseholds a great option to avoid “freehold premium” and hefty luxury furnishings price tag from developers, but it’s affordable prices also allows buyers to have a reasonable outlay on their property purchase. This certainly makes a difference for upgrading buyers, with the inclusion of ABSD (Additional Buyer Stamp Duties) from 2018, where 12% of a property’s price has to be paid upfront first even if the buyer has plans to sell their current property.
99-Years Leasehold offers Great Value for Property Investment
Compared to its freehold neighbours, the 99-Years Leasehold projects also hold excellent potential for capital appreciation, since a higher volume of transactions is expected in Leaseholds than in Freeholds, which are generally regarded for legacy building and passing down through generations. Other factors, such as initiatives outlined in the URA Master Plan for that particular district, can also influence the property’s appreciation value.
Investment buyers wishing to rent out their property will also enjoy expected higher rental yields for the 99-Years Leaseholds in prime districts. This is because the leasehold’s combination of prime district addresses and excellent property amenities allows them to demand more competitive rental rates than the freehold properties while making less upfront capital commitment.
CANNINGHILL PIERS DEVELOPERS BACKGROUND
CanningHill Piers will be jointly developed by Capitaland Limited and City Developments Limited jointly via Legend Quay Pte Ltd.
CapitaLand Limited (CapitaLand) is one of Asia’s largest diversified real estate groups. Headquartered and listed in Singapore, it owns and manages a global portfolio worth about S$138.7 billion as at 30 June 2021. CapitaLand’s portfolio spans across diversified real estate classes which includes commercial, retail; business park, industrial and logistics; integrated development, urban development; as well as lodging and residential. With a presence across more than 250 cities in over 30 countries, the Group focuses on Singapore and China as its core markets, while it continues to expand in markets such as India, Vietnam, Australia, Europe and the USA.
CapitaLand has one of the largest real estate investment management businesses globally. It manages six listed real estate investment trusts (REITs) and business trusts as well as over 20 private funds. CapitaLand launched Singapore’s first REIT in 2002 and today, its stable of REITs and business trusts comprises CapitaLand Integrated Commercial Trust, Ascendas Real Estate Investment Trust, Ascott Residence Trust, CapitaLand China Trust, Ascendas India Trust and CapitaLand Malaysia Mall Trust.
CapitaLand places sustainability at the core of what it does. As a responsible real estate company, CapitaLand contributes to the environmental and social well-being of the communities where it operates, as it delivers long-term economic value to its stakeholders.
City Developments Limited (CDL) is a leading global real estate company with a network spanning 112 locations in 29 countries and regions. Listed on the Singapore Exchange, the Group is one of the largest companies by market capitalisation. Its income-stable and geographically diverse portfolio comprises residences, offices, hotels, serviced apartments, integrated developments and shopping malls.
With a proven track record of over 55 years in real estate development, investment and management, the Group has developed over 47,000 homes and owns over 23 million square feet of lettable floor area in residential, commercial and hospitality assets globally. Its diversified global land bank offers 3 million square feet of land area.
Along with its wholly-owned hotel subsidiary, Millennium & Copthorne Hotels Limited (M&C), the Group has 152 hotels and 44,000 rooms worldwide, many in key gateway cities.
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