PETALING JAYA: Axis Real Estate Investment Trust (Axis-REIT) is acquiring two warehouse facilities from Malconrep Depot (M) Sdn Bhd (MDSB) and Dayang Mewah Sdn Bhd (DMSB) respectively, for a total consideration of RM158.64mil.
In a statement, Axis-REIT said it will subsequently lease both the warehouse facilities to MDSB which will use it for logistics and warehousing purposes.
“The two warehouse facilities are adjoined to one another and located in Taman Perindustrian Pulau Indah, Pelabuhan Klang, Selangor.”
The first warehouse facility, set for acquisition at a cost of RM110.075mil from MDSB, will be leased out for a fixed period of nine years, starting with an initial monthly rental of RM570,179.03, subject to agreed step-ups throughout the term of lease.”
The second warehouse facility, in turn, is to be acquired for RM48.569mil from DMSB. It will be leased out for a fixed period of five years, starting with an initial monthly rental of RM251,207.12, subject to agreed step-ups throughout the term of lease.
The combined land area of the two said acquisitions is 62,356.96 sq metres. Both properties are sitting on leasehold land, expiring in 2097.
