Mombasa CBD with Excellent Investment and Asset Management Potential.

The building has a gross lettable area of circa.38,522sq.ft on three levels: basement,ground and first floor and 8 car parking yard. The basement and ground floors of the building are currently being used as banking space. The basement level function as storage facilities and service areas.

The ground floor functions as a banking retail branch and includes:  an expansive banking
hall, teller booths, meeting rooms,waiting lounges,closed and open plan offices. The ground and first floors are fitted with quality finishes such as: suspended ceilings, fitted lights, floor tiles in the office and wet areas, carpets in the meeting rooms and lounge areas,combination of glass and gypsum partitions, split air conditioning system throughout the space. The banking space is fitted with CCTV cameras, smoke detectors and access control system.

The property extends to 0.43 acres (0.17 Ha) contained in three contiguous plots known as Mombasa/Block XXIV/42, 43 and 44 held on freehold interest. 30% of the property is partially leased to two excellent tenants and the balance sold with vacant possession thus it offers a perfect opportunity for an immediate investment return and asset management to achieve a higher yield. Annual income from the property upon sale will be circa. Kes.9,829,411 per annum giving a buyer a gross initial yield of 4.7%.

The balance of the space in the building will be sold with vacant possession thus this property offers a perfect opportunity for aggressive asset management where a buyer can increase the yield profile of the property north of 10%. Mains power, water and sewer are connected to the property. Water supply in the property is supplemented by a 90ft borehole and power by a 200 KvA Cummins generator. The property has dual access from Nkrumah Avenue and Makadara Road.