Hersing Centre at Toa Payoh offered for sale

Hersing Centre, formerly Toa Payoh Entertainment Centre, is being offered for sale, with an indicative price around S$78 million, exclusive marketing agent JLL said on Monday.

This translates to about S$1,750 psf on the total gross floor area of about 44,411 square foot, JLL added.

The 3-storey commercial building with a mezzanine level, is strategically located in the heart of Toa Payoh Central, opposite HDB Hub and Toa Payoh MRT Interchange.

The property sits on a land area of about 14,988 sq ft. It is held under 99-year leasehold tenure and the eventual owner will have naming rights to the property. Under the 2014 Master Plan, the property is zoned for “Commercial” use.

As the property sits on land zoned for commercial uses, foreigners are eligible to purchase the property. There is also no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) imposed on the purchase of the property.

JLL is inviting offers through an Expressions of Interest (EOI) exercise, which closes on Friday, Nov 27, at 3pm.

Source : Channel NewsAsia – 2 Nov 2015

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