A section of NextGen mall located along Mombasa Road has been put up for action.
In an advertisement published in a local daily on Monday, July 19, Garam Investments put up the property measuring 12 acres on sale and invited interested bidders to visit and survey it.
The property in question is identified as Pent Office (Unit-C) located on the first floor inside the shopping mall opposite Eka Hotel.
"The mother parcel measures 5.013 hectares (12.382 acres )or thereabouts. Improvements on the mother plot include 2No. eleven storey residential block of apartments each with a basement parking: 2No. incomplete residential blocks (at different levels of completion.
"(Also) a seven storey commercial block cum doctor's plaza with two level basements and a mezzanine floor (the subject block)," read the advertisement in part.
The commercial property commands a tidy monthly rental value of Ksh360,000.
On the property is a generator/ pump house, food court . The subject office suite accommodates office space with a reception, standard office rooms and large office.
Other features included a kitchen with low level and wall mounted wooden cupboards and a single drain stainless steel sink unit .
"The title is a leasehold interest for a term of 99 years. Mains electricity, piped water and sewer services connected into the mother property," added the notice.
Interested parties are expected to visit the property to ascertain its existence and winners will be expected to deposit 10 per cent of the property in cash or cheque.
This comes even as auction notices continue to fill the pages of local dailies as the economy continues to suffer in the wake of the Covid-19 pandemic.
In the Monday edition of Daily Nation, six pages were filled with auction notices of property ranging from low-income rental units to high-end mansions in Karen.
Speaking to Kenyans.co.ke at the beginning of the year, economist Sam Okumu had warned that the economic situation in Kenya was poised to worsen over the pandemic.
He further noted that there was a spike in the auction of people's properties because businesses were not realising as much profit as they used to before, thereby causing businesses and entrepreneurs to default on existing loans.
