CapitaCommercial confirms rumours of potential StarHub Centre sale

CapitaCommercial Trust Management Limited released statement on Thursday saying that the company is evaluating all options with regard to the asset plan for the property.

In the announcement made by company secretary Michelle Koh reacting to the article published Thursday by the Business Times, CapitaCommercial Trust Management Limited (CCTML) has not arrived at a decision in regard to selling Starhub Centre.

“As part of the evaluation process, we conducted a non-legally binding expression of interest exercise to ascertain interest for the sale of the property. As there is no certainty of any deal materialising, unitholders are advised to exercise caution in trading the units of CCT,” Koh said in the announcement released on the same day.

The Manager of CapitaCommercial Trust (CCT) has announced on 20 January 2010 that, as part of its portfolio reconstruction plan for CCT, outline planning permission has been obtained from the Urban Redevelopment Authority to convert Starhub Centre from a pure commercial use to up to 80% residential and 20% commercial use.

“We will make an announcement to the SGX-ST of any material development on this matter as and when appropriate in accordance with the Listing Rules of the SGX-ST,” Koh further declared.

CCT is Singapore's first commercial listed Real Estate Investment Trust (REIT).