AXIS REAL ESTATE INVESTMENT TRUST ("AXIS-REIT" OR THE "FUND") - COMPLETION OF THE ACQUISITION BY AXIS-REIT OF A LEASEHOLD INDUSTRIAL PROPERTY COMPRISING A SINGLE STOREY WAREHOUSE BUILDING WITH A 3-STOREY OFFICE TOGETHER WITH GUARD HOUSE AND ANCILLARY BUILDINGS WITH A GROSS BUILT-UP AREA OF APPROXIMATELY 171,000 SQ. FEET HELD UNDER TITLE NO. H.S. (D) 330804 PTD 163163 IN THE MUKIM OF PLENTONG DISTRICT OF JOHOR BAHRU, STATE OF JOHOR MEASURING APPROXIMATELY 2.4305 HECTARES (THE "PROPERTY") WHICH 60 YEARS’ LEASEHOLD TENURE WILL BE EXPIRING ON 29 MARCH 2051, FROM NIRO CERAMIC (M) SDN BHD (NO. 169869-M) FOR A TOTAL LUMP SUM CASH CONSIDERATION OF RM14.5 MILLION ("PROPOSED ACQUISITION OF THE PROPERTY") AND LEASE BACK TO NIRO CERAMIC (M) SDN BHD ("PROPOSED ACQUISITION & LEASE BACK OF THE PROPERTY")
| AXIS REAL ESTATE INVESTMENT TRUST |
| Type | Announcement |
| Subject | AXIS REAL ESTATE INVESTMENT TRUST ("AXIS-REIT" OR THE "FUND") - COMPLETION OF THE ACQUISITION BY AXIS-REIT OF A LEASEHOLD INDUSTRIAL PROPERTY COMPRISING A SINGLE STOREY WAREHOUSE BUILDING WITH A 3-STOREY OFFICE TOGETHER WITH GUARD HOUSE AND ANCILLARY BUILDINGS WITH A GROSS BUILT-UP AREA OF APPROXIMATELY 171,000 SQ. FEET HELD UNDER TITLE NO. H.S. (D) 330804 PTD 163163 IN THE MUKIM OF PLENTONG DISTRICT OF JOHOR BAHRU, STATE OF JOHOR MEASURING APPROXIMATELY 2.4305 HECTARES (THE "PROPERTY") WHICH 60 YEARS’ LEASEHOLD TENURE WILL BE EXPIRING ON 29 MARCH 2051, FROM NIRO CERAMIC (M) SDN BHD (NO. 169869-M) FOR A TOTAL LUMP SUM CASH CONSIDERATION OF RM14.5 MILLION ("PROPOSED ACQUISITION OF THE PROPERTY") AND LEASE BACK TO NIRO CERAMIC (M) SDN BHD ("PROPOSED ACQUISITION & LEASE BACK OF THE PROPERTY") |
| Contents | Pursuant to the announcement made on 31 January 2008 on the Proposed Acquisition & Lease Back of the Property, Axis REIT Managers Berhad, the management company of Axis-REIT, is pleased to announce that after fulfilling all the terms and conditions as stipulated in the Sale and Purchase Agreement dated 31 January 2008 executed between Niro Ceramic (M) Sdn Bhd and OSK Trustees Berhad, the said Acquisition of the Property was completed on 30 April 2008. This announcement is dated 30 April 2008. |
Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 30 Apr 2008 |
| Category | General Announcement |
| Reference No | CCS-080430-1F396 |
