NewsDate Set for Auctioning of Nairobi Multi-Billion Iconic Hotel:...

Date Set for Auctioning of Nairobi Multi-Billion Iconic Hotel: How to Bid

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  • An official date has been set for the auctioning of a Nairobi multi-billion hotel standing tall along Westlands Road.

    The hotel, with its rich history and both painful and exciting memories, is set to acquire new ownership following a public notice issued announcing the commencement of its auctioning process.

    After scoring a victory in court, Moran Auctioneers has scheduled February 8, 2022, from 11:00 am, as the start date for the auction of the DusitD2 hotel. The public bidding will take place at Heron Portico Hotel, Jakaya Kikwete Road in Nairobi.

    File photo of DusitD2 Hotel
    File

    The mixed property development is registered under Cape Holdings Limited, which is popularly known as 14 Riverside, that has been held under lease from January 2001 accumulating an annual ground rent of Ksh1.4 million.

    According to the auctioneer, the property area is approximately 2.093 hectares with mixed development comprising of 5 office blocks, a five-star hotel with a swimming pool, a parking silo, food court, and cafeteria with Garden sitting areas and a high-security gate. The built-up area is approximately 546,830 square feet.

    The area is easily accessible through Westlands Road and the Nairobi Expressway which is set to be opened in April this year.

    The DusitD2 hotel has 101 rooms and suites fully fitted with a bar, restaurant, library meeting rooms, and a gym. Additionally, there is also a separate conference and banqueting hall. Other amenities include a spa, swimming pool, and open-air restaurant.

    The property has 625 parking bays on 13 levels and additional 34 parking spaces within the development.

    The power supply is assured with two rooms having standby generators and security at every corner of the property.

    How to Bid

    Interested buyers can only acquire the property either as a whole or based on blocks to a single buyer or multiple buyers for those interested to buy blocks or floors.

    The Moran auctioneers have set the auctioning as subject to the exemption of leases for 4 units registered on entries 27, 29, 31, and 35.

    Bidders have also been advised to check and verify the property themselves. They must also pay Ksh5 million which is refundable.

    Further, bidders have been granted the right to either buy or reject the property.

    For one to win the bid, a payment of 25 per cent of the value of the property must be made at the fall of the hammer and the balance cleared within 60 days.

    If the property acquires a new owner, it will signify an end to a long legal battle that triggered the auctioning process.

    File photo of DusitD2 Hotel
    File photo of DusitD2 Hotel
    File
  • Source: KENYAGIST.COM

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