Amanahraya-REIT eyes RM2.151 mil in annual rental from warehouse leasing

KUALA LUMPUR: AmanahRaya Real Estate Investment Trust (AmanahRaya-REIT) expects RM2.151 million in annual rental for three years by leasing its warehouse complex in Port Klang to Kontena Nasional Bhd.

The lease is for nine years and rental of the warehouse will be revised every three years at a pre-fixed rate to be agreed by both parties.

"It will be a five per cent step-up rental and after nine years, there will be a new negotiation if KNB wants to continue leasing the warehouse," said AmanahRaya-REIT’s chief operating officer Adenan Md Yusof after the signing ceremony here on Friday, May 21.

The warehouse is one of the 15 properties managed by AmanahRaya-REIT Managers Sdn Bhd, a unit of AmanahRaya, and one of the five industrial properties in the AmanahRaya-REIT portfolio.

Kontena Nasional will designate the warehouse complex as "Kontena Distribution 11", housing 12 units of 1-storey warehouses, offices, cold rooms, temperature-controlled cool rooms and open-yard facilities.

Kontena Nasional's chief executive officer Hood Osman said acquisition of the warehouse complex was in line with the company's third-party logistics objectives of enjoying cost-effectiveness, gaining access to the international market and offering comprehensive logistics solutions to new customers.

The warehouse currently has Gudang Damansara, Ikano, Rafsanjan Pistachio Producers, Milawa and Taskan Shipping and Forwarding as tenants.

"Besides continuing the offer of tenancy to existing clients, Kontena Nasional also hopes to provide its logistics services to them," he said.

Services offered at the new facility will include warehousing, conventional transportation and container haulage. -- Bernama
Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.