CLMT said the purchase price is slightly below the independent valuation of RM72.5mil by Nawawi Tie Leung Property Consultants.
PETALING JAYA: Capitaland Malaysia Trust
(CLMT) is acquiring three freehold industrial properties in Senai Airport City, Johor, from Rainbow Entity Sdn Bhd for RM72mil.
The properties consist of three single-storey detached factories, each with an annexed two-storey office block.
In a statement, CLMT said the purchase price is slightly below the independent valuation of RM72.5mil by Nawawi Tie Leung Property Consultants Sdn Bhd.
While construction of the properties is scheduled for completion in the first quarter of this year, CLMT noted that one property has already secured a seven-year lease with a Shanghai Stock Exchange-listed life sciences company.
“The lease comes with built-in rent escalations and is expected to provide income stability,” it said.
CLMT said, when fully leased, all three properties combined are expected to generate RM5.1mil in annual gross rent, with a 7.1% first-year gross yield.
