British American Tobacco (BAT) sells prime land in PJ to LGB Properties

The landmark of Petaling Jaya, the British American Tobacco (BAT) factory will soon be closed down as they have sold the land to LGB Properties for RM218 mil via a public tender exercise carried out by Rahim & Co. LGB Properties is the developer of Menara LGB and The Greens Condominium in TTDI. They are also the largest shareholder of Taliworks Corporation Bhd, Amalgamated Industrial Steel Bhd, Grand Saga Highway and many more businesses.


Title no: PN3917 & PN30108
Lot no:
 Lot 1 & 102, Seksyen 36, Bandar Petaling Jaya, District of Petaling, Selangor Darul Ehsan
(intersection of Jalan Semangat and Jalan 19/1)
Land area: 13.10 acre (Lot 1 – 8.77 acre; Lot 102 – 4.33 acre)
Tenure: Leasehold 99-year (Lot 1 – Expiring 29 Sep 2060; Lot 102 – Expiring on 8 Apr 2062)
Category of land use: Nil with express condition ‘industrial’
Zoning: n.a
Transacted price: RM218 million (RM382 psf)
Date of transaction: 8 June 2016
Vendor: Tobacco Importers And Manufacturers Sdn Bhd (subsidiary of British American Tobacco (M) Sdn Bhd)
Purchaser: LBG Realty Sdn Bhd
Note:
1. The properties was valued by DTZ Nawawi Tie Leung on 22 April 2016 for  RM262.5 mil (Land – RM216.8 mil/RM380 psf; Buildings – RM45.7 mil).

2. BAT & LGB Realty Sdn Bhd have executed a tenancy agreement to take a tenancy of the Property for twelve (12) months at a monthly rental of RM1.09 mil, or RM13.08 mil a year (equivalent to RM23 psf on land)


Location Map:

BAT petaling jaya land, LGB

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