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Summary
A prime re-development plot in an exceptional location in the heart of Upper Hill.Totaling approximately 0.976 Acres (0.3950 Hectares) the plot is situated on Matumbato Road next to Don Bosco Chruch and a stone throw away from the Radison Blu Hotel.Regular shaped plot with excellent road frontage to Matumbato Road.The plot currently has an old commercial house making it ideal for immediatere-development. The current user is retail and offices.City council water, mains electricity and sewage are connected to the property.One leasehold title with approximately 32 years unexpired.For sale by private treaty.Viewings strictly by appointment only.
FOR SALEPRIME RE-DEVELOPMENTOPPORTUNITYUpper Hill, Nairobi
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Source: Google Maps
KnightFrank.com
Description
A regular shaped flat plot in an exceptional location in the prime Upper Hill district in close proximity to the major new developments under construction. The property is a fantastic re-development site held under one leasehold title comprising the following: LR No. 37/760, 0.976 acres with an old commercial house on site. The city council water, mains electricity and sewage are already connected on the site. Approximately 75 metres of road frontage onto Matumbato Road with the road being upgraded into a proper tarmac road providing a highly prominent site offering with great visibility for a major HQ office, hotel or retail development.
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Location
The property is located in the heart of Upper Hill with immediate access on to Matumbato Road.
The construction of Matumbato Road into a proper tarmac road is almost complete, making the site very accessible both within Upper Hill but also providing new faster access to and from the area which will help ease congestion. The major roads in Upper Hill are under construction with a targeted completion in circa 18 months. This will allow better access to the major corporate HQ’s located there and re-inforce Upper Hill as a major office location.
UpperHill is considered one of the prime commercial districts within Nairobi. The following major financial institutions, multinationals and insurance firms all have their headquarters in close proximity to the site; KCB Plaza, Equity Bank, CitiBank, Victoria Commercial Bank, World Bank, Coca Cola, International Finance Corporation, World Health Organisation, CBA Bank, Old Mutual, UAP and Britam.
Other buildings, hotels and organizations in close proximity to the site include; Japan Emabssy, Oxford University Press Eas tAfrica, GEOPMAPs, Corporate Business Centre and Renaissance Corporate Park. Major international hotel brands such as the Crown Plaza and the new Radisson Blu are in close proximity to the site confirming this location as a major corporate/business hub.
The re-development potential of the site is considerable and the excellent location makes this one of the best sites available in Upper Hill. This offers a unique opportunity to develop a world class scheme with office, retail, hotel and residential uses. The prominence of the location lends the site well to construct a regional headquarter building for a major corporation.
Map Courtesy of Google Maps
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Planning
Upper Hill falls under Zone 1E of the Nairobi City Council planning regulations. The minimum subdivision permitted is 0.05 hectares with a plot ratio of 300% and ground coverage of 60%. Notably, Britam got approval for a plot ratio of 580% on 1.6 acres where they are constructing the Britam tower.
Zoning Map
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Guide Price: We have been instructed to seek offers in excess of Ksh 500,000,000 (Five Hundred Million Kenya Shillings ) exclusive of VAT. For further information and viewing arrangements please contact the following:
Kevin [email protected]+254 [20] 423 9000 / +254 728 741 288
Important notice
1. Particulars: These particulars are not an offer or contract, nor part of one. You should not rely on statements by Knight Frank Kenya Limited in the particulars or by word of mouth or in writing (“information”) as being factually accurate about the property, its condition or its value. Neither Knight Frank Kenya Limited nor any joint agent has any authority to make any representations about the property, and accordingly any information given is entirely without responsibility on the part of the agents, seller(s) or lessor(s).
2. Photos etc: The photographs show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only.
3. Regulations etc: Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning, building regulations or other consent has been obtained. A buyer or lessee must find out by inspection or in other ways that these matters have been properly dealt with and that all information is correct.
4. Neither Knight Frank Kenya Limited nor the vendor of the property accepts responsibility for any error these particulars may contain however caused. Any intending purchaser must therefore satisfy himself by inspection or otherwise as to the correctness.
5. Terms and conditions for the tender apply.
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