• The agreement is in respect of a tenancy of a lower ground floor, as well as first to fourth floors of a building with a total gross area of 28,585.47 sq metres.

KUALA LUMPUR (Nov 1): Parkson Holdings Bhd said its 54.97%-owned Hong Kong-listed subsidiary Parkson Retail Group Ltd (PRGL) has entered into a 20-year tenancy agreement in respect of a property in Nanchang in China’s Jiangxi province.

In a filing with Bursa Malaysia, Parkson said the agreement was signed on Monday (Oct 31) by PRGL’s indirect wholly-owned subsidiary Jiangxi Parkson Shopping Centre Management Co Ltd, and property owner Nanchang Hui Xin Industrial Co Ltd.

The agreement is in respect of a tenancy of a lower ground floor, as well as first to fourth floors of a building with a total gross area of 28,585.47 sq metres.

The fixed monthly rental is 25 yuan (RM16) per sq metre (inclusive of tax and property management fee) and is subject to a 5% increment every three years during the term.

Parkson said the tenant would be entitled to rent-free periods for each first- to four months of the first three years within the term, totalling 12 months.

SHARE
SPONSORED CONTENT
Binastra Business Park Pulau Meranti II @ Puchong to scale businesses with green, sustainable jumbo-sized industrial factories in prime economic state

Helmed by Binastra Land Sdn Bhd, a well established real estate developer with a proven track record, Binastra Business Park Pulau Meranti II @ Puchong rises as a new industrial icon in Malaysia.

read more
RELATED POSTS
  1. Tanco teams up with China-backed construction firm to bid for warehouse and mega-storage contracts
  2. Parkson subsidiary terminates tenancy agreement for property in China
  3. MKH to sell China furniture unit for RM49.5 mil