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DONE DEAL: Single-storey factory in Mukim 1, Seberang Perai, Penang

Seberang Perai factory

Rented for: RM85,000 a month

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

When: April 5, 2018

Noteworthy:
A factory with a land area of 130,680 sq ft and built-up size of 50,000 sq ft
Nearby amenities: Sunway Carnival shopping mall, Megamall Pinang, hospital, banks and boutique hotels
About 5km away from Penang Bridge, 25km to George Town, 25km away from Bayan Lepas Industrial Park and Penang International Airport

Located in Mukim 1 of Seberang Perai Tengah (Central Seberang Perai), which is home to some of the earliest industrial developments in Seberang Perai, the factory is situated at the well-developed industrial district which has a high concentration of manufacturing activities.

Seberang Perai is divided to three districts – North, Central and South Seberang Perai. There are also robust commercial and residential developments surrounding industrial areas within Central Seberang Perai.

According to JT Tan of Khoo & Associates Realty who concluded the rental deal, the owner purchased two plots of land and built two factories many years ago, with the intention of own-use or renting out one of the factories in the future.

“He decided to rent out one factory together with land to China-based Jinko Solar Technology Sdn Bhd, which already has a strong presence in the same industrial park,” he added.

Tan noted that this is the sixth plant rented by Jinko Solar and will be used as manufacturing facility to produce solar modules.

In this deal, the factory, which has a built-up of 50,000 sq ft and land area of 130,680 sq ft, is rented out for a monthly rental of RM85,000 for one year, or RM1.70 psf. The tenant has an option to renew the tenancy contract for another three years after the agreement expires.

“The tenant likes the factory because of the location – close to other plants and located inside the Free Trade Zone – as well as the office area (around 7,000 sq ft) inside the factory which is equipped with air-conditioning,” said Tan.

He added that Mukim 1 is a mature industrial area with good infrastructure and facilities, thus there has always been demand for factories here. However, there are not many available units this area.

Available online listings show that as at July 12, the average rental in Seberang Perai ranges between RM1.10 to RM1.30 psf.

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

Editor: To real estate agents — Have you just concluded an interesting deal? We would love to hear from you! Contact us at [email protected]

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