KIP REIT is in talks with Cahaya Serijaya Sdn Bhd for the proposed acquisition of KIPMall Kota Warisan in Sepang for a cash purchase consideration of RM80.0 million.
In conjunction with the proposed acquisition, the trustee also proposes to undertake a private placement to raise gross proceeds of approximately RM10.0 million.
The mall sits on a piece of freehold land in the District of Sepang, State of Selangor, measuring 41,048 square metres (approximately 441,837 square feet) on which its basically one and a half-storey retail centre comprising a single
storey commercial centre with a mezzanine floor, a drive-thru fast food restaurant, a refuse chamber and a bin centre with a total gross floor area of 28,015.71 square metres.
KIPMall Kota Warisan is situated along Jalan Warisan Sentral 3, KIP Sentral, Kota Warisan within the commercial development identified as “KIP Sentral @ Sepang”. KIP Sentral @ Sepang comprises KIPMall Kota Warisan, 2 towers of 466 units of serviced residence/SOHO units and 132 units of semi-detached and terraced boutique shoplots.
Kota Warisan is an integrated self-contained township comprising mainly double storey terraced houses, 2 to 4-storey shop offices, double storey detached houses, sing
