OTHERS AXIS REAL ESTATE INVESTMENT TRUST ("AXIS-REIT") PROPOSED DEVELOPMENT OF A BUILT-TO-SUIT SINGLE-STOREY WAREHOUSE WITH A BUILT-UP AREA OF APPROXIMATELY 515,000 SQUARE FEET INCLUSIVE OF ANCILLARY BUILDINGS AND EXTERNAL ELEMENTS, TO BE CONSTRUCTED ON A PARCEL OF LAND MEASURING APPROXIMATELY 24.78 ACRES FORMING PART OF AXIS PDI CENTRE ("LAND")
| AXIS REAL ESTATE INVESTMENT TRUST |
| Type | Announcement |
| Subject | OTHERS |
| Description | AXIS REAL ESTATE INVESTMENT TRUST ("AXIS-REIT")
PROPOSED DEVELOPMENT OF A BUILT-TO-SUIT SINGLE-STOREY WAREHOUSE WITH A BUILT-UP AREA OF APPROXIMATELY 515,000 SQUARE FEET INCLUSIVE OF ANCILLARY BUILDINGS AND EXTERNAL ELEMENTS, TO BE CONSTRUCTED ON A PARCEL OF LAND MEASURING APPROXIMATELY 24.78 ACRES FORMING PART OF AXIS PDI CENTRE ("LAND") |
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(Capitalised terms used in this announcement shall have the same meanings as those used in the announcement dated 19 August 2016, unless otherwise stated) We refer to the announcement dated 19 August 2016 in relation to the Phase 1 Development. On behalf of the Board of Directors of the Manager, Maybank Investment Bank Berhad is pleased to announce that in accordance with the terms of the Agreement to Build & Lease, Axis-REIT has completed the Phase 1 Development and the Certificate of Completion and Compliance for the Demised Premises dated 29 January 2018 has been received on 1 February 2018. The Demised Premises is part of the Land formerly known as Axis PDI Centre and now renamed as “Axis Mega Distribution Centre”. Pursuant to the Lease Agreement, the term of the Lease shall be for a fixed period of 10 years (with the option to renew for 2 additional terms of 3 years each) commencing from 1 June 2018. This announcement is dated 2 February 2018. |
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Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 02 Feb 2018 |
| Category | General Announcement for PLC |
| Reference Number | GA1-02022018-00071 |
