The entire 7-floor Shelter Afrique House building along Mamlaka Road was placed under auction as the economy continues to take a hit.
In a notice carried in today's dailies, Keysian Auctioneers which was appointed to oversee the auction process announced that the exercise is slated to take place on Wednesday, May 22, this year.
The tower is designed with a mix of glass and bronze brown walls.
In the notice, the auctioneers explained that the building is a leasehold interest of 94 years with effect from January 1979 and has an annual revisable rate of Ksh11,800.
It stands on a 0.320-acre parcel along Mamlaka Road off Nyerere Road at the periphery of the city center.
"Under instructions from our principals, the chargees, in the exercise of their statutory power of sale, we shall sell by public auction the under-mentioned properties and all the improvement erected thereon," read the notice in part.
"All that property known as Shelter Afrique House (Central Park Plaza) Mamlaka Road, Nairobi City County," added the notice which listed the property alongside 11 others.
The property has developed a seven-storey office building, basement parking, and an open parking space that are all connected.
Separately, Garam Investments Auctioneers placed 78 apartments at the Greatwall Gardens in Machakos County on auction.
The notice indicated that all the units were two bedrooms within phases 1, 2 and 3 along Shangjai Road off Mombasa Highway.
The entire parcel has 1,421 three-bedroom apartments and 648 two-bedroom apartments as well as three commercial centers and a school.
"The units will be sold individually. The title is a leasehold interest," read the notice in part.
Over the last year, cases of property auctions have been higher with experts believing that the phenomenon was caused by the high cost of living.
