FAPCL Group, a real estate company, has put a fully operational shopping mall set on 7 acres of prime commercial land up for sale.
In a notice published on Friday, April 24, FAPCL Group said the mall enjoys strong foot traffic, about 95 percent occupancy, is anchored by major tenants, and is supported by a diverse retail mix.
Additionally, the mall put up for sale generates annual rental income exceeding Ksh100 million, with further upside potential.
“The property enjoys strong footfall and consistent tenant retention anchored by major tenants and supported by a diverse retail mix at approximately 95% occupancy. It generates annual rental income exceeding KES 100 million, with clear upside potential,” read part of the notice.
The name and location of the mall on sale, however, were not disclosed. For inquiries, the company asked bidders to email [email protected].
FAPCL Group Lists Other Properties for Sale
The real estate firm has also listed several other properties for sale.
These include a 2.5-acre property along Riverside Drive frontage in Nairobi, ideal for high-rise development; 2.3 acres on Mombasa Road with existing godowns and offices; and 2 acres in Nyali along Mvita Road, suitable for high-end apartments.
In addition, 155 acres in Sultan Hamud Township with frontage access are also on offer under FAPCL group.
On its acquisition plans, the firm is seeking 1 acre of land in Karen, specifically in the area around Ndege, Marula, Miotoni, and Karen Roads.
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Thika Road Mall Denies Sale Claims
The sale of the mall follows TRM Holdings Limited’s dismissal of reports circulating on social media alleging that the Thika Road Mall is up for sale.
On April 8, the company said the posts were unauthorized and had no connection to TRM Holdings or its directors, officers, or representatives.
It clarified that no process to sell the mall has been initiated or approved.
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TRM Holdings further stated that it has not appointed or authorized any individual or entity to market, advertise, or negotiate the sale of the property.
“Thika Road Mall is not for sale. TRM Holdings has not instructed, appointed, or authorised any person, agent, or entity, including the entity referred to in the social media posts in question, to market, advertise, or negotiate the sale of the mall on its behalf,” read part of the statement.
The firm urged members of the public and the business community to disregard the claims and avoid engaging with individuals or entities linked to the alleged sale.
The company warned that any dealings with parties claiming to represent the company would be at the individual’s own risk.
It further assured tenants, partners, customers, and the wider community that Thika Road Mall continues to operate.
