Quill Capita Management Sdn Bhd (QCM), the manager of Quill Capita Trust (QCT), has recently announced the proposed acquisition of two properties – Wisma Technip and Plaza Mont’ Kiara for RM215 million.
Two separate conditional sales and purchase agreements were signed. Wisma Technip was acquired from Aragorn ABS Bhd for 125 million and Plaza Mont’ Kiara’s commercial shops leased to food and beverage and retail tenants and car-park lots from Sunrise Bhd for RM90 million.
The purchase considerations were agreed based on the market value of the properties and these acquisitions are expected to be completed by the fourth quarter of this year, said a statement.
Wisma Technip is an 100% occupied office building that boasts a net lettable area of 233,021sq ft, while the commercial shops leased to food and beverage and retail tenants and car-park lots of Plaza Mont’ Kiara has a net lettable area of 73,408sq ft and a 94.9% occupancy rate.
QCM chief executive officer Chan Say Yeong said, “Within six months from listing, we are adding our portfolio two yield-accretive assets with high occupancy and long term tenancies.”
“QCT will also achieve better geographical diversification with this latest foothold in the Klang Valley. This is in line with our stated growth strategy and we are on track to reach our target of doubling QCT’s asset size to RM560 million by end 2007.”