CLMT to acquire Selangor automated logistics property $54.2m

The property will be leased to PTT Synergy unit, Projek Tetap Teguh.

CapitaLand Malaysia Trust (CLMT) has entered into an agreement to acquire a freehold automated logistics property from PTT Logistics Hub 1 for $54.2m (RM180m).

Elmina Logistics Hub, situated within Elmina Business Park, is scheduled for completion in H1 2025. The property is expected to generate an annual gross rent of $3.7m (RM12.3m), with an estimated first-year gross yield of approximately 6.8%.

The property is a 40-metre high, single-storey automated warehouse with an automated storage and retrieval system (ASRS). It also features 19 loading bays with hydraulic dock levellers and is capable of handling over 30,000 pallets.

Following the acquisition, CLMT will also enter into a lease agreement to fully lease the property to PTT Synergy unit, Projek Tetap Teguh, for a 10-year term.