Well, at least until October 2023.
But first, let me state that this post is not exactly a discussion on APAC Realty. I don’t own APAC Realty’s shares, I traded it twice, and was fortunate to walk away with a mere couple of grand in profits, but that’s about it.
This is specifically, a discussion of APAC’s recent acquisition of Hersing Centre. (And the numbers behind it)
On the 10th Sept 2018, APAC completed the acquisition of Hersing Centre, situated in Toa Payoh, and renamed it ERA Centre.
The plan is to use ERA Centre as the headquarters, while simultaneously generating rental income from leasing out the retail units.
“The Property is a leasehold commercial property with a site area of approximately 1,392.4 square metres and a gross floor area of 4,121.4 square metres. Its 99-year lease from the Housing and Development Board (“HDB”) commenced on 1 August 1970. The