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Hotels on Sale in Nairobi
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Hotels on Sale in Kenya

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HOTELS ON SALE IN NAIROBI CITY

PROPERTY ONE

  1. Site Area

The plot extends to 0.2788 of a hectare. This is approx. 0.689 of an acre or thereabouts.

  1. Location

The property is located within Nairobi City centre..

  1. Situation
  2. The property is situated within City Centre Tenure

The property is held as a Leasehold for a term of 99 years with effect from 1st November 1911 and for a further term of 84 years and seven months from 1st day of November 2010 subject to payment of a revisable annual rent of a Kshs. 938,900/-. The ground Lease has over 82 years to lease expiry.
The property is registered in the name of*******
We have assumed that there are no unusual or onerous restrictions or outgoings affecting the subject lease arrangement and that it is not subject to any unpaid liabilities. We have also not established the current status of any obligations and liabilities thereto and our assumption is that all (if any other than the above mentioned) are fully paid and are up to date. We have further not allowed for the costs of realization or such taxation within our assessment and not aware of any occupancy restriction or similar limitation affecting the property.
Should there be any legal documentation relating to the property of which we are unaware, it is possible that the valuation provided may be adversely affected. Any information of this nature that may become apparent should be forwarded to Knight Frank in order that the valuation can be re-assessed accordingly.

  1. Services

Water:
The property is served with mains water
One borehole has been sunk within the property.

Drainage:
Drainage is to a mains sewer.

Electricity:
Mains power is connected to the property.
Additional power is obtained from a 250 KVA standby generators.

Others:
The property is provided with a CCTV facility
All hotel rooms have automated electronic card system
3 No. Otis each 16 passengers Lifts and one Service Lift
Fire detectors
2 No. Boilers

  1. General Description

The Plot
This is a roughly rectangular shaped corner plot whose boundaries are marked by building lines.
Improvements
The  Hotel comprises of a 10 storey Hotel building with mezzanine and basement floors comprising shops/casinos to the ground floor and hotel rooms and administration offices to the upper floors.
Construction
The hotel blocks
The main structure is in reinforced concrete framework of columns and beams in filled with stonewalling beneath a flat reinforced concrete slab roof. The walls are externally rendered and colour-washed part cladded in marble to the ground floor while internally; they are plastered and painted or lined with ceramic tiles to wet areas. The floors are mainly finished in ceramic, marble tiles save for some sections with carpet, woodblocks. The basement floor is finished in granolithic, cement screed part in ceramic tiles. Windows are glazed metal/PVC casement, sliding aluminium casements or louvred type. Ceilings are plastered and painted throughout part in false cellotex panels. External door are glazed alluminium casement, grilled metal, hard wood panel type while internal ones are timber panel, metal type. The corridor doors are in wired glass on timber
Accommodation
Basement

Workshop
Generator room
Transformer room
Security office
Two stores
Gents changing rooms
Ladies changing rooms
Gents sleeping area
Housekeeping office
Laundry
Boiler room
Cold store
Bulk store
Crockery
Corridor
Parking with 52 bays
Service lift lobby Staircase to
Security office
Telephone exchange server room
Casino
Ladies and Gentlemen: Gents
Store
Ground Floor

Five Shops
Three shop spaces one partitioned into stalls/offices, one used as a casino
Basement entrance
Hotel main entrance to
Main reception area
Gift shop
Four shops
Entrance to Casino
Store
Lift and staircase lobby
Staircase to landing/ Lift lobby
Corridor
Hall 1   a service counter and washrooms for ladies and gents
Hall 2 l with reception counter and washrooms for ladies and gents
Ladies washrooms
Gents washrooms
 Hall 3
Exhibition hall with washrooms for ladies and gents
Florist store
Corridor to fire escape staircase
Main dining hall with manager’s office,
Restaurant
Kitchen
Main Bar
TV Lounge
Hall Extension
First to Tenth Floor
Staircase to landing (with a chute)/ Lift lobby
Corridor to
Pantry/stores
Thirty Four (34) Rooms
Fire escape staircase

We note some of the floors layouts have been changed internally. 
Each of the rooms has inbuilt wardrobes, dressing mirror, a door to balcony/terrace and are en-suite with WC, Shower cubical, and WHB, and door to balcony save for the southern wing to some. All doors to the rooms have digital electronic locks.
Each of the rooms is further provided with a safe, TV and ceiling fan, fridge, reading table, side cabinets, telephone extension and automated electronic card system.
The rooms are undergoing renovation which involves finishing all the floors with ceramic tiles and change of plumbing fittings. Rooms with balconies are also being extended by collapsing the balcony and building of full walls.

  1. Schedule of Areas

The total built up area is approximately 22,303 square metres which is equivalent to 240,069 square feet.

  1. Tenancy

The Hotel is managed by ********
The hotel has a capacity of 340 en-suite rooms but the available rooms as at our inspection were 280 as the rest were let out or used as offices.

  1. General Comments

A strategically located hotel establishment located at the CBD .The hotel has a total capacity of 340 hotel rooms combining standard rooms and four conference halls. The hotel also accommodates shops and casinos.

PROPERTY TWO

  1. LR Number

The property is known as land reference **********

  1. Site Area

The plot extends to approx. 4.2 acres or thereabouts.

  1. Location

 Disclosed later

  1. Tenure
  2. The property is held leasehold for a term of 94 years and one month from 1st January 2002 subject to an annual rent of Kshs. 531,935/- (Revisable). The ground lease has some 84 years to expire.
  3. From the above document we note that the registered proprietor is ******

Water:
The property is served with mains water. A borehole has been sunk within the property.
Drainage:
Drainage is to a septic tank
Electricity:
Mains power is connected to the property. Additional power is obtained from a 180 KVA standby generators. The property is being installed with solar panels for heating of water in the rooms.
The property is installed with CCTV facility

  1. General Description

The Plot
This is an irregular shaped plot characterised by red soils. The boundaries are marked by chain link fencing on reinforced concrete posts.
Improvements
The property is developed with the main hotel block comprising hotel rooms and administration offices; Restaurant cum Kitchen; Tennis court; The swimming pools; Borehole; and a Staff Canteen
Construction

  1. The hotel block

The hotel complex is constructed of concrete block walling, rendered and colour washed externally or partly cladded in irregular natural stone to ground floor, plastered and painted internally. All wet areas are finished in ceramic tiles to 3/4/full heights. The balcony areas have concrete balustrades. The roof is flat RC. The floors finishes are a combination of ceramic tiles, marble and timber parquets and clay tiles partly in screed to some stores. The main reception door is in plate glass on wooden frame while other doors are quality T&G matchboards, flush timber, glazed casements on timber frame or grilled metal doors. The windows are largely fitted/louvered casements with wire nettings or the sliding PVC vista windows. Ceilings are plastered and painted, part lined in false T&G or celotex panels.
The accommodation is laid out as follows:
Ground floor
Reception Lobby
Corridor to
Ladies with 2WC, 2 WHBs
Gents with 2 bowl urinals, 2WC, 2 WHBs
Two stores
Seven offices
Wine store
Corridor to
Shop
Resident lounge
Conference room
External entrance with corridor (having hot water geyser) cupboards to
Eight (8) Rooms
Residential unit having a lounge cum dinning and door to balcony, kitchen with cabinets, bedroom, bathroom with tub, WC WHB, bedroom en- suite with tub, WC WHB, and store
Pool filtration room
Pool bar
Ladies with changing area, WC, shower room 2 WHBs
Gents with changing area, 2 bowl urinals, WC, shower room WHBs
Three external stores
Laundry
Attached rear washrooms similarly constructed with IT4 sheets roof having Ladies with WC, WHBs and gents with bowl urinals
First & Second  floors
Typical and each offering
Staircase to landing
Conference room
Corridor with hot water geyser cupboards to
Thirty one (31) Rooms
Housekeeping/Linen room
Fire escape exit stair case
Each of the rooms has inbuilt wardrobes, a door to balcony/terrace and are en -suite with WC, tub WC WHB. The refurbished rooms’ balcony has been collapsed to extend the room space while the floors finishes are in ceramic tiles all through. The bathrooms facilities are also being changed and will include the WC, shower cubicle and WHB. All doors to the rooms use automated electric key system.

  1. The Restaurant/Kitchen Block

This is located to the south east of the main block. It is similarly constructed to it and floor are finished in ceramic tiles, marbles, clay tiles and partly in screed to rear stores. Doors are in glazed timber casements, T&G, flash timber. Ceiling is plastered painted slab or false T&G timber.
The veranda extension roof is part covered in canvas on steel structure
The accommodation is laid out as follows:
Main restaurant
Veranda restaurant
Bar with a counter
Kitchen
Cold room
Three stores
Two rear stores
Transformer room
Meter room
Empty bottle shed
Gents changing room with changing area WC, shower
Ladies changing room with changing area WC, shower

  1. The Garden Bar

This comprises a hexagonal shaped counter constructed of timber shingles roof on wooden framework support. Floors are in clay tiles.

  1. Schedule of Areas

Component

Area (sqm)

 Area (sqf)

Main Hotel Building

            3,024.00

             32,550.34

Kitchen/Stores

              200.00

               2,152.80

Reastaurant

              280.00

               3,013.92

Veranda Restaurant

              294.00

               3,164.62

 Total

3,798.00

40,881.67

  1. Tenancy:

The Hotel is managed by the registered owners.
The hotel has a capacity of 70 en-suite accommodation rooms.

  1. General Comments

A hotel establishment with a total capacity of 70 en-suite rooms. Refurbishment work was ongoing during our inspection. The refurbishment work comprised of redoing the floor finishes, wall paintings, changing all plumbing works and some electrical fittings.

The property has a good layout and is developed on a generous plot extending to about four decimal two acres. We note it has high potential for further developments. Due to this high potential for re-development, we have ignored the buildings in arriving at the value and have used the comparable approach to value the land only.



AFRICAN PRO-POOR TOURISM DEVELOPMENT CENTRE
Suite 112, 1st Floor, Uniafric House, Koinange St.
P. O. Box 4293 - 00200 (City Square) Nairobi - KENYA
Phone: 254-2- 2214172 / 254-020 2214173 Fax: 254-2- 2214174

CELLULAR HOTLINE: 254-722- 566725
8:30 AM - 6:00 PM EAT


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