A prime commercial office building in Westlands, Nairobi, has been put on auction following an advertisement in one of the local dailies posted on Monday, November 25.
The building, which houses 32 office suites, has been put up for sale by public auction, and members of the public have been invited to submit their bids.
For interested buyers, the building is situated within the TRV Parkwest Office Suite Centre on Third Parklands Avenue.
''The subject properties are situated within Parklands, Nairobi City, Kenya. It lies off Third Parklands Avenue turning right approximately 130 metres from its junction with Mpaka Road. It is located at the rear of the TRV Centre,’’ the notice reads in part.
According to the auctioneer, the title deed of the building is on a leasehold interest and is active for the next 41 years.
The auctioneer further revealed that the building sits on 1,181 square meters of land and is suitable for commercial use.
''The title is held on a leasehold interest for the remainder of a term of 50 years with effect from 1st December 2015 at the annual rent of Ksh59,840. The leasehold interest has some 41 years to expiry,’’ the notice added.
''The title extends to 0.1181(Naught Decimal One One Eight One) of a hectare equivalent to 0.2918(Naught Decimal Two Nine One Eight),’’
Key amenities at the building include a 15-storey office block comprising office suites and a restaurant. The building also has a basement level with three parking spaces on the lower floors.
''Intercom facilities and CCTV cameras are also installed across the property enhancing security. Parking spaces are provided on the basement levels as well as the ground, first, second and third floors,’’
The building is also connected to the main electricity grid with a standby generator for emergencies, together with a borehole to supply water.
The auctioneer, however, did not disclose the reason for the sale of the building, even as tough economic times have forced many businesses to either shut down or be sold via auction.
