DONE DEAL: 1.5-storey factory, Perai Industrial Estate, Penang

Seberang Perai

Rented for: RM75,000 a month

Concluded by: J T Tan (REN 08365) of Khoo & Associates Realty (012-392 6682)

When: Feb 14, 2018

A factory with a land area of 121,968 sq ft and built-up size of 72,000 sq ft
Nearby amenities: Juru Auto City, banks and various eateries
About 4km away from Bukit Tengah Industrial Park, 8km away from Penang Bridge, 28km to George Town, 26km away from Bayan Lepas Industrial Park and Penang International Airport

Situated close to the Penang Bridge, Perai Industrial Estate is a home for light and medium industries that create work opportunities for the locals. The estate is a well-developed industrial zone with good infrastructure such as power supply, road system and housing for workers.

According to J T Tan of Khoo & Associates Realty who concluded the rental deal, the owner bought the unit four years ago for investment purpose as he spotted a good opportunity for rental return.

“Previously, the factory was rented out to a sugar company for a two-year lease. The tenant moved out after the tenancy agreement expired. It took about two months for a new tenant to come in,” he said.

According to him, the new tenant is a Thailand-based, high-end packaging foam manufacturer who already rented a factory nearby and was looking for a new and bigger plant as its business expanded.

“The tenant preferred this unit for the good condition, high ceiling of 35ft, and good location,” said Tan.

In this three-year rental deal, the tenant has rented the factory, which has a land area of 121,968 sq ft and built-up size of 72,000 sq ft, for a monthly rental of RM75,000 or about RM1.04 psf on average.

He said rental prices are not solely calculated based on built-up sizes of the factories, as the condition and specifications of the factory are also taken into consideration during price negotiation.

Available online listings as at June 1, 2018, showed that average rental in Seberang Perai ranges between RM1.10 to RM1.30 psf.

Interested to buy properties in Seberang Perai​? Click here.

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