The Postal Corporation of Kenya Pension Scheme has announced the sale of an eight-storey commercial office block situated along Ronald Ngala Street in Nairobi's Central Business District.
The sale comes as the economy continues to bite. Over the last few months, more and more owners are placing their properties on sale.
This prominent building currently houses the Ronald Ngala Post Office.
A notice issued via the Daily Nation on Thursday indicated the property has six floors for office space, complemented by two basements providing ample parking facilities.
Its strategic location on Ronald Ngala Street, known for its high footfall, makes it ideal for various commercial ventures.
Key features of the building include a mezzanine floor with a spacious balcony, connection to all main services such as water, sewer, and electricity, and two lifts servicing all floors. Additionally, it has an 8,000-litre underground water storage tank, ensuring a reliable water supply.
The basements each cover approximately 9,956 square feet, while the ground floor, featuring a banking hall, spans about 7,718 square feet.
The mezzanine floor is accessible from the ground floor and measures around 7,427 square feet, with an open balcony of approximately 2,041 square feet.
Each of the four upper floors offers about 5,881 square feet of space, and the lift/water room floor covers approximately 1,188 square feet. The total built-up area is approximately 61,811 square feet, situated on a 0.0930-hectare plot.
The property is held on a 50-year lease from 1st March 2013. Interested parties are encouraged to apply for pricing and further details.
In recent months, Nairobi has witnessed a series of notable property auctions. In November 2024, the National Housing Corporation announced the sale of residential units at the Elgon View Estate in Eldoret.
Similarly, in September 2024, commercial spaces at the Park Road Housing Project were put up for sale. These auctions reflect a dynamic real estate market, offering diverse opportunities for investors.
This comes at a time when the country’s economy decelerated in the third quarter of 2024 to 4.0 per from 6.0 per in the same period the previous year.
This slowdown was attributed to underperformance in sectors like construction, which contracted by 2 per cent, and mining and quarrying, which shrank by 11.1 per cent.
