CapitaCommercial Trust yet to decide on StarHub Centre property

CapitaCommercial Trust says it has yet to make a decision on its StarHub Centre property.

It says it is evaluating all options for its asset plan for the property and has not arrived at any decision at this point.

As part of the evaluation process, CCT says it conducted a non-legally binding expression of interest exercise to ascertain interest for the sale of the property.

It adds that there is no certainty of any deal materialising.

CCT clarified its stand after a Business Times article reported that it may be close to selling StarHub Centre.

Earlier this year, CCT had said it has obtained permission from authorities here to make changes to the composition of StarHub Centre.

It received approval to convert the property from a pure commercial use to up to 80 per cent residential and 20 per cent commercial use.

Source : Channel NewsAsia – 24 Jun 2010

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