PETALING JAYA: Axis Real Estate Investment Trust’s (Axis-REIT) trustee, RHB Trustees Bhd has entered into a sale and purchase agreement with Megalift Sdn Bhd to acquire three adjoining warehouse facilities located in Taman Perindustrian Pulau Indah, Klang for a total cash consideration of RM61mil.
In a statement, Axis-REIT said the proposed acquisition comprises three adjoining parcels of leasehold industrial land, with a total land area of 29,101.59 sq metres, erected with three blocks of warehouses including ancillary buildings.
“The property is currently fully owner-occupied by Megalift and utilised for warehousing operations.”
Upon completion of the acquisition, targeted by the first quarter of 2027, Megalift will lease back the property under a five-year leaseback arrangement, providing Axis-REIT with an initial monthly rental of RM316,826.90, subject to step-up during the lease period.
“The proposed acquisition will be funded through Axis-REIT’s existing bank facilities and is expected to increase its financing ratio to approximately 33.12% of audited total assets as at Dec 31, 2025.”
Commenting on the proposed acquisition, Axis REIT Managers Bhd chief executive officer and executive director Leong Kit May said the acquisition further emphasises its strategy of expanding its portfolio through industrial assets that are situated in prominent locations.
“The property is located within Taman Perindustrian Pulau Indah, an important industrial hub within Port Klang with access to major highways, including the Pulau Indah Highway, New Klang Valley Expressway, Shah Alam Expressway, South Klang Valley Expressway and North-South Expressway.
“Its close proximity to Northport, Westport and Southport, key shipping terminals serving Port Klang, further supports its strategic role in supply chain and distribution operations.”