PETALING JAYA: Axis Real Estate Investment Trust’s (Axis-REIT) trustee RHB Trustees Bhd has entered into a sale and purchase agreement with Barry Callebaut Malaysia Sdn Bhd to acquire industrial property in Kawasan Industri Bandar Sultan Suleiman, Port Klang, for a cash consideration of RM50 million.
The property is a plot of leasehold industrial land measuring about nine acres where buildings erected on the land comprise a single-storey detached factory with double-storey office block annexed, a standalone double-storey office/canteen block, a single-storey detached warehouse with double-storey office block and other ancillary buildings. The total gross floor area is about 240,641 square feet.
The property enjoys excellent connectivity via New North Klang Straits Bypass, which links to major highways including New Klang Valley Expressway, West Coast Expressway, and Federal Highway.
The proposed acquisition will be funded through existing bank facilities, and is expected to increase Axis-REIT’s financing ratio to 33.92% of audited total assets as at Dec31, 2024. It is targeted for completion by the first quarter of 2026.
Axis REIT Managers Bhd CEO/executive director Leong Kit May said, “This acquisition highlights our strategy to acquire properties that are within prime locations served by key amenities like highways and container ports, of which Port Klang has been recognised as the 10th busiest container port in the world in a press release issued by Ministry of Transport Malaysia on Sept 1, 2025. The property is also designated for light to heavy industrial usage, which increases the flexibility of the property and allows Axis-REIT to cater for a wider array of tenants.”