Gems Schools Ksh3B Campus for Sale After Dubai Billionaire Exit

A private high-cost Dubai-based GEMS Cambridge International School Kenyan branch in Karen has been put up for sale.

The campus located on Magadi Road was purpose-built by a developer for GEMS Education at a cost of Ksh3 billion.

However, the school went under because of financial constraints forcing the founder Sunny Varkey to exit the Kenyan market and sell most of his shareholding to a local businessman.

According to the sale notice, the property built on 78 Acres (31.55 Hectares) of land is up for grabs from prospective buyers who will pay a refundable deposit of Ksh10,000,000 in cash, bankers’ cheque, or RTGS.

“The property falls GPS registered in the name of Goodison Six Seventeen Limited and is located along Magadi Road, 15 Kilometers South West of Nairobi Central Business District,

“15 Kilometers to adoptive standards the main entrances are school borders Banda School and Brookehouse School,” the notice reads in part.

Also Read: Kipkeino Moves to Convert School to Private Ownership

Details of the Gems Property up for Sale

The first floor of the building hosts the admin offices, 15 classrooms, 2 clinics, a cafeteria, a staffroom, and storerooms.

On the other hand, the second floor hosts the reading rooms, staff offices, and additional classrooms.

The property on sale includes a Main School Block, Gym, Swimming Pool, Athletic Track, Basketball and Tennis Courts, Gate Houses, and Other Buildings.

Additionally, the Main School Block is a three-storey L-shaped building. The ground floor has the Entrance Lobby, Director’s Office, Principal’s Office, Vice Principal’s office, and the personal assistant’s office. 

Also, the ground floor houses the conference room, two Interview Rooms, a Parent Relations Executive Office, a Reception Lobby, a Parent’s Waiting Area, a preschool staff office, a disabled washroom, an indoor play area, and the boys’ and girls’s washroom. 

Further, the school has a two-story hostel building with boarding facilities for boys and girls. The dorm building has other facilities including a reception, lounges, bedrooms, common areas, laundry room, study rooms, dining areas, and apartments for matrons.

Also Read: List of Most Expensive Schools in Nairobi

Conditions for Sale and How to Bid

All intending purchasers have been directed to view and verify the details of the property themselves before bidding.

Additionally, a refundable deposit of Ksh10,000,000 must be paid in cash, banker’s cheque, or RTGS at the fall of the hammer to obtain a bidding number.

“A deposit of 10 percent must be paid at the fall of the hammer and the balance within 90 days from the date of the auction to the charges advocate. Sale is subject to a reserve price,’ the notice reads in part. 

GEMS owns over 80 schools including the prestigious Hillcrest International School in Nairobi’s upmarket Karen estate, which it acquired in 2019.

Born to K.S. and Mariamma Varkey, Indian immigrants who then moved to Dubai, Varkey started teaching at Our Own English High School, a school that had been founded by his parents and offered English language education in the Arab country.

At the time, he was 23 years old and had just completed his Form Four studies. Through his leadership, the school expanded and later grew to the GEMS education schools and expanded to other countries.

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