Apartment Hosting Hotel with Monthly Rent of Ksh2 Million Put up for Auction

A prime commercial property in Eastleigh Section III, Nairobi County with a monthly rental income of Ksh2 million has been put up for auction. The parcel of land is known as L. R. NO. 36/III/208 New Al-Hamdu Palace Hotel and registered in the name of Abdi Mohamed Ali g/t Mega Wholesalers Limited c/o P. O. Box 16035-00610 Nairobi.

In an advert, Garam Investment Auctioneers said the auction will be conducted on Tuesday, February 18, at 11:00am at its offices on 5^th floor, Western Heights, Karuna Road, Westlands in Nairobi.

The property is easily identifiable as New Al-Hamdu Palace Hotel and is at the junction of 14th street and Eastleigh Second Avenue within Eastleigh Section III, Nairobi City County.

The parcel measures around 0.049 hectares (0.121acres with six storey commercial block with a roof top unit erected on it.

The ground floor is used as a commercial stall while the other floors are used as a hotel.

New Al-Hamdu Palace Hotel Conditions of Sale

Individuals who intend to purchase are requested to view the property and verify the details since these are not warranted by the auctioneers.

A deposit of 20% for each property should be paid in cash or banker’s cheque at the fall of the hammer.

The balance will thereafter be payable within ninety days for each property to the chargee.

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An additional bidding deposit of Ksh20 million for each property by way of banker’s cheque(s) or cash will be mandatory.

“Please note that failure to pay the balance by the confirmed purchaser will result in forfeiture of all deposits paid,” reads part of the advert.

The sale of the property will be subject to reserve prices and land board consent if applicable.

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Conditions of sale are available on request at the Garam Investment Auctioneers offices.

Similarly, viewing of properties is possible during normal working hours by prior arrangements with the Auctioneers.

“For all the aforementioned properties details of encumbrances including names addresses e.t.c. together with user and any other restrictions plus rates/rents payable will be made available on request at our offices,” reads another part of the statement.

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