PETALING JAYA: Axis Real Estate Investment Trust (Axis-REIT) is acquiring an industrial facility in Johor for RM16.3mil.

       In a statement yesterday, Axis-REIT said its trustee, RHB Trustees Bhd, had entered into a sale and purchase agreement with Axis AME IP Sdn Bhd for the acquisition.

       Located in i-Park @ Indahpura, Bandar Indahpura, Johor, the property sits on 98,393 sq ft of freehold land with 59,956 sq ft of lettable area.

       “The property comprises a single-storey detached factory with an annexed double-storey office building and ancillary buildings.”

       Axis-REIT said the property is currently being leased to HQPack Sdn Bhd (HQP) for a fixed period of 10 years and one month from Nov 5, 2021 with an option to renew for a further three years.

       “Rental from Nov 5, 2021 to Dec 4, 2024 is RM89,933.87 per month. The rate will be revised to RM101,925.05 monthly for the subsequent three years and to RM113,916.23 from Dec 5, 2027 to Dec 4, 2031.

       HQP is involved in the manufacturing of industrial packaging for the high-end semiconductor industry.