Individuals who had bought into the luxurious Sunset Boulevard gated community in Athi River, are in a state of trepidation after the entire estate was put up for sale.
A Monday advertisement by Leakey's Auctioneers disclosed that all 204 apartments, would have a date with the auctioneer's hammer on July 31, 2019.
Reports by Daily Nation claimed that the real estate developers who set up the gated community, are entangled in a major battle with a local bank, over Ksh400 million in unpaid loans.
Scenes at the estate on Monday, were reminiscent of the calm before a storm, as the developers tried to allay the fears of their investors.
They went on to threaten that they would have the banks' officials arrested, if they failed to cancel the planned auction, and pull down the advertisement.
“We have noted that, despite the status quo order, made by Justice Maureen Odero, your clients have proceeded to advertise the 204 apartments again in Monday's Daily Nation.
"We demand the immediate publication in tomorrow’s (Tuesday) daily, an advert cancelling the said contemptuous advertisement, failure to which, we will be moving to court immediately, to cite your clients for contempt of court,” an excerpt of a letter from Ogola Okello & Company LLP, to the bank's lawyers at Walker Kontos Advocates divulged.
Kenya High Court Judge, Maureen Odero, had on June 13, 2019, issued an order that the warring parties maintain the status quo, as she determines an application by Sunset Boulevard.
Houses at Sunset Boulevard cost the homeowners between Ksh3 million and Ksh6 million, depending on the square footage of the various houses.
One homeowner, speaking in confidence to the media, revealed that residents had collectively made a Ksh800 million payment to secure ownership.
The entire project, estimated to have cost Ksh2 billion, is located 500 metres off Mombasa Road, with various amenities such as a common recreational area.
