Axis Real Estate Investment Trust’s (Axis-REIT) trustee, RHB Trustees Bhd, has entered into a sale and purchase agreement with Megalift Sdn Bhd to acquire three adjoining warehouse facilities located in Taman Perindustrian Pulau Indah, Klang, for a total cash consideration of RM61 million.
In a statement, Axis-REIT said the proposed acquisition comprises three adjoining parcels of leasehold industrial land, with a total land area of 29,101.59 sq m, on which three blocks of warehouses, including ancillary buildings, have been erected.
“The property is currently fully owner-occupied by Megalift and utilised for warehousing operations,” the statement said.
Upon completion of the acquisition, which is targeted for the first quarter of 2027, Megalift will lease back the property under a five-year leaseback arrangement, providing Axis-REIT with an initial monthly rental of RM316,826.90. This rental amount is subject to step-up increases over the course of the lease period.
The proposed acquisition will be funded through Axis-REIT’s existing bank facilities and is expected to raise the trust’s financing ratio to approximately 33.12% of its audited total assets as at Dec 31, 2025.
Commenting on the proposed acquisition, Axis REIT Managers Bhd chief executive officer and executive director Leong Kit May said the deal further emphasises the trust’s strategy of expanding its portfolio through industrial assets situated in prominent locations.
“The property is located within Taman Perindustrian Pulau Indah, an important industrial hub within Port Klang with access to major highways. These include the Pulau Indah Highway, New Klang Valley Expressway, Shah Alam Expressway, South Klang Valley Expressway and North-South Expressway,” she said.
She added that the property’s close proximity to Northport, Westport and Southport — key shipping terminals serving Port Klang — further supports its strategic role in supply chain and distribution operations, reinforcing the appeal of the asset within Axis-REIT’s broader industrial portfolio strategy.
