TM says Annexe 1, 2 reserve price between RM273.4m and RM312m

-A +A

KUALA LUMPUR (Feb 27): Telekom Malaysia Bhd (TM), which plans to sell its Annexe 1 and Annexe 2 buildings at its headquarters here, said the reserve price range for the properties is between RM273.4 million and RM312 million.

At the tender briefing here today, a TM official told theedgemarkets.com that potential buyers have the option to buy the buildings without tenants or with different tenancy agreements.

"Bids for the buildings have to be submitted by March 29 this year. Both towers are on leasehold land with lease still having 53 years left to it," the official said.

TM said Annexe 1 is a 20-storey building with a gross floor area of 266,140 sq ft. The building has a gross lettable area of 188,122 sq ft and an occupancy rate of 95%.

Meanwhile, Annexe 2 is a 33-storey building with a gross floor area of 412,875 sq ft, said TM, adding that the building has a gross lettable area of 280,650 sq ft and an occupancy rate of 92%.

TM said external tenants for both the buildings are paying rentals at between RM3.50 and RM4.61 per sq ft, which translates into total rental income of RM406,330.34 a month for the group.