The Bazaar
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Property Description
PARTICULARS OF "THE BAZAAR"
Plot No: L.R No. 209/2467
Situation: Corner of Moi Avenue/Biashara Street
Registered Owner: Alouikik Investments Ltd
Area: 0.2632 acre (approx)
Title: Leasehold Title I.R No. 48800 for a term of 99 years from 1 March 1988 with annual ground rent of KSHS 412,850
Property:
A prestigious property comprising 22 floors -- 19 above ground and 3 basements -- all superbly finished in marble and granite.
Four modern 13-passenger Schindler lifts with VIP key switches servicing all 22 floors.
An 800kVA generator serves the entire building, including all four lifts during power outages. This complements the 1000kVA KPLC transformer housed in the building. There are numerous 3-phase power outlets.
A borehole ensures total water supply at all times.
Each floor is equipped with well-designed ladies' and gents' toilets and kitchen facilities.
The total built-up area is approximately 210,000 sq. ft.
The gross annual rental is approximately KSHS 160 million, excluding VAT. Net of service charge, the rental excluding VAT is approximately KSHS 130 million. Rentals range from KSHS 100-150 per sq. ft. Service charge is KSHS 250 per sq. ft.
Tenancy:
The building is over 85% let.
Main tenants include Moi University and the State Department of Special Programmes, Ministry of Devolution.
The current gross annual rent is approximately KSHS 153 million. There are 2.5 floors vacated by Moi University and 11 parking spaces. The rental for these spaces is being negotiated and is expected to add a value of about KSHS 15 million, bringing the total potential rental to approximately KSHS 168 million.
Price Guide: KSHS 2 billion
Property Details
| Property Ref: 34077 | Added On: 07 Jun 2024 | Last Updated: 14 Jan 2025 |
| Market Status: Available | Type: Commercial Property |
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Nairobi, Nairobi, Kenya
0710 XXXX Show Phone
254710755944
Registered 2 years ago
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