Axis buys land for RM27m

KUALA LUMPUR: Axis Real Investment Trust Bhd (Axis REIT) will acquire two parcels of industrial land in Seremban for RM26.5 million to enlarge its portfolio of properties. Both parcels have a gross built-up of about 192,677 sq ft and are located in the Nilai Industrial Estate in Negri Sembilan.

Axis said the proposed acquisition will provide an annual gross income of RM2.65 million and a net yield of 9% before financing cost. The properties are fully tenanted by Emerson Process Management Manufacturing (M) Sdn Bhd and K-Plastics Industry Sdn Bhd.

As at December, Axis REIT had 27 properties providing a net income of RM24.93 million.

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.