THE ISP Group which specialises in logistics warehouses-manufacturing hubs (LWMH) and purpose-built workers accommodations (PBWA) has inked a sale and purchase agreement (SPA) to acquire an industrial property in the Plentong sub-district of Johor for RM35.1 mil.
Strategically located within Taman Perindustrian Cemerlang, the well-established 600-acre industrial park is expected to benefit from excellent connectivity, including access via the Ulu Tiram Interchange of the Senai-Desaru Expressway and that it is just 20km from Johor Bahru city centre.
The property which includes an estimated associated cost of RM1.8 mil is projected to be completed within three months with an additional one-month extension available if necessary.
“This acquisition reflects ISP’s ongoing efforts to strengthen our presence in the industrial real estate sector while ensuring long-term value creation for our stakeholders,” commented ISP Holdings Sdn Bhd founder and group CEO Eric Ng.
“The property’s strategic positioning within the Plentong sub-district’s industrial hub makes it an ideal choice for logistics, manufacturing and warehousing businesses.”
In the long run, the acquisition also reinforces ISP’s commitment to expanding its industrial real estate portfolio by investing in high-potential locations, according to Ng.
“Upon completion, we will actively seek tenants for the property, capitalising on the demand for strategically located modern industrial spaces,” he enthused.
The said property comprises a single-storey detached factory/warehouse with an annexed double-storey office building.
Additionally, the property spans 5.04 acres of freehold land. It offers a gross floor area of 123,000 sq ft, including 116,542 sq ft dedicated to production and warehousing and 6,458 sq ft allocated for office space.
The facility is well-equipped with five loading bays and an open loading area capable of accommodating up to ten 40-foot containers.
It features a high-capacity pallet racking system with a 2,000-pallet capacity, two-layer in-rack sprinklers and an eaves height of 12 meters at the sides and 14.7 meters at the centre.
Above all else, the building also incorporates modern green features, including a 351.5kWP solar photovoltaic system certified for Net Energy Metering and smart LED lighting systems.
According to Ng, ISP has thus far completed S&P agreements for the acquisitions of four industrial assets with a total cost of RM188.5 mil, thus further solidifying its presence in Malaysia’s industrial real estate market.
“Looking ahead, we are also exploring potential new acquisitions of industrial properties worth at least RM500 mil which underscores our commitment towards sustainable growth and strategic expansion,” he added. – March 25, 2025
