According to the agent, Danny Gan from Propnex Realty who concluded the deal, he said that in view of the shortage of warehouse space in the market, particularly in Shah Alam and Klang areas, this refurbished warehouse has gained several keen offers.
“Initially the owner wanted to operate in the same warehouse after refurbishment. However, in view of the favourable market sentiment and the fact that the owner was able to rent out at a 10% higher rental compared to the surrounding, he decided to rent the factory out,” said Gan, adding that the tenant had viewed over 10 warehouses in the district of Klang Valley and Shah Alam before deciding to rent this unit.
Gan also said that the factory was in ready-to-move-in condition for immediate operation and is also located near other warehouses in the same area housing reputable brands such as Skynet, PKT Logistics and N.S.E. Logistics.
“Furthermore, it has a high ceiling and is almost 20% cheaper compared to similar warehouses in Shah Alam. Due to its strategic location, it is an ideal location for FMCG (fast-moving consumer goods) companies to cater to hypermarket and distribution centres,” he highlighted.
Meanwhile, there were 202 sale listings with an average asking price of RM294 psf or RM9.79 million.
In 2020, 68 units exchanged hands at an average price of RM336 psf, translating to RM2.9 million.
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