Wasco Facility @ Kuantan

 

 

 

Wasco Facility @ Kuantan is one of the largest property acquisitions of Axis REIT located in Gebeng, Kuantan which consist of single-storey detached factory warehouses annexed with a single-storey office building, canteen and general store. The Property comprises two contiguous parcels of land, Land 1 and Land 2 with buildings which are used for pipe coating and related industrial services to the oil and gas industry.

It is strategically located within Kawasan Perindustrian MIEL Gebeng, Kuantan, Jalan Kuantan, Kemaman. The site is neighbouring to Gebeng Industrial Estate, Kuantan Port and Kawasan Perindustrian Harbour Park. Gebeng Industrial Estate and Kuantan Port house a world class chemical and petrochemical facility and has an excellent multi cargo deep seaport facing South China Sea. The site is well connected by Gebeng bypass, which links Kuala Lumpur and Kuantan directly via the East Coast Highway.

The property is a sale and leased back arrangement with the vendors and shall be leased back to Wasco Coatings Malaysia Sdn Bhd for fixed period of fifteen years with an option for a further term of five years.

 

PURCHASE PRICE
RM155,000,000

APPRAISED VALUE
RM165,000,000

 

TYPE
Manufacturing Facility

ACQUISITION
DATE
5 December 2017

NUMBER OF
TENANTS
1

LAND AREA
3,769,607 sq ft
[350,208 sq m] and
1,742,400 sq ft
[161,874 sq m]

NET LETTABLE
AREA
Buildings
506,753 sq ft
[47,079 sq m]
Yard
603,137 sq ft
[56,033 sq m]
1,254,538 sq ft
[116,549 sq m]

OCCUPANCY RATE
100%

TITLE
Leasehold expiring
on 8 November 2103 & 6 August 2113

LAND TITLE
H.S. (D). 37766 for PT 14572 in the Mukim of Sungai Karang, District of Kuantan, State of Pahang

AGE OF BUILDING
About 11 to 23 years

ADDRESS
Sub Lot 2, Kawasan Perindustrian MIEL
Gebeng, KM25, Jalan Kuantan-Kemaman
P.O. Box 240, 25720 Kuantan
Pahang

MAJOR TENANTS
Wasco Coatings Malaysia Sdn Bhd