Usage and meaning of とのことです

Question

I see this often in business emails, I guess it is not very important in terms of meaning but I couldn't find any post on stackexchange about it.

What does とのことです add to a sentence? Here is the latest example I've read:

碑文谷警察署の本町二丁目交番とのことです

Answer 1

とのことです

is a hearsay and a bit formal way.

For example, your boss said Mike is working at 碑文谷警察署の本町二丁目交番.

Then, your business partner asked you where Mike is working at?

So you answered

碑文谷警察署の本町二丁目交番とのことです。

If you like to express it in common way, you can say

Mikeは碑文谷警察署の本町二丁目交番で働いています。