Axis Facility @ Batu Kawan


 



 

 

Axis REIT entered into a Lease Agreement with Penang Development Corporation in July 2019 to lease a piece of industrial land at Batu Kawan Industrial Park for 30 years to develop a purpose built logistics warehouse for Federal Express Services (M) Sdn Bhd.

The development stands on 108,791 sq. ft. of land and consists of a single storey office cum warehouse building. The development took 5 months to complete and Certificate of Practical Completion was issued on 30 December 2019. Vacant possession is scheduled to be delivered to FedEx in March 2020.

 

PURCHASE PRICE
RM14,600,000 (land lease)

APPRAISED VALUE
RM19,000,000

 

TYPE
Logistics Warehouse

ACQUISITION
DATE

19 December 2019

NUMBER OF
TENANTS

1

LAND AREA
108,791 sq ft
[10,107 sq m]

NET LETTABLE
AREA

44,000 sq ft
[4,088 sq m]

OCCUPANCY RATE
100%

TITLE
Leasehold

LAND TITLE
H.S.(D) 50964, Lot no. PT 6048, Mukim 13, District Seberang Perai Selatan,State of Pulau Pinang.

AGE OF BUILDING
3

ADDRESS
PMT 770, Jalan Cassia Selatan 6/4,
Taman Perindustrian Batu Kawan,
14110 Bandar Cassia, Penang

MAJOR TENANTS
Federal Express Services (M) Sdn Bhd