Amid the high cost of living and increased interest rates, businesses have continued to feel the heat with multimillion properties on auction becoming a common sight on local dailies.
On Monday, September 24, for instance- the Daily Nation had eight pages dedicated for auction advertisements while The Standard had four pages.
Among the properties put up for the auctioneer’s hammer are hotels including the Nanasi Paradise in Thika Town, Kiambu County.
The hotel, situated in Thika CBD in the neighborhood of the town’s main bus stage and Thika stadium, sits on 0.17 hectares.
According to the auctioneer, it is developed with a double-storey club house with various amenities including a bar area, kitchen, service rooms, and a conference hall.
The hotel, as per the advert, will be up for auction on October 3 at Garam Investments Auctioneers headquarters in Westlands, Nairobi.
Great North Resort up for auction
Additionally, the Great North North Resort located in Makuyu Area, Murang’a County in the outskirts of Kenol was advertised for auction.
The property developed to a five storey hotel with a restaurant, lounge, kitchen pantry, and bar area will be on sale on October 26 in Nairobi at the Keysian Auctioneers’ headquarters.
In addition, the Great North Resort has boardrooms, guestrooms, a conference hall and water supply- according to the auctioneer’s advert.
Also Read: Jubilee Party Headquarters Building Set For Auction
Also, up for auction are several apartments and residential property. In Syokimau, for example, a residential property with four bedrooms, and servants’ quarters has been advertised by Westminster Commercial Auctioneers.
The property is located in Lifestyle Gardens, along Kiungani Road in Syokimau and will be on sale on October 11.
Other listed properties include.
- A four-bedroom maisonette in Hill View Estate, Athi River on October 11 by Westminster Auctioneers.
- An industrial property in Kyangombe Area, Embakasi by Garam Auctioneers scheduled for October 3.
- A commercial property in Eastleigh Section Three with monthly rental income of Ksh2.65 million by Garam Investments.
- A 0.041 hectares plot in the Kamakis Area along the Eastern Bypass by Upstate Auctioneers on October 18.
Kenyans feel the pinch
The advertised property represents just a fraction of the properties put up for auction in the recent past.
In August, the Kenya Revenue Authority announced an auction to get rid of overstayed vehicles and goods at the port of Mombasa.
Also Read: KAA Announces Auction of Unused Vehicles
In addition, several police stations in the country called for interested persons to buy vehicles and motorcycles that had been grounded in their yards, painting a picture of the tough conditions endured by a section of Kenyans.
