Garam Investment Auctioneers announced that they will be auctioning the property that has been housing Jubilee Headquarters since 2013.
In a notice published on local dailies on Monday August 29, the auctioneers noted that the auction of the property located in Pangani area along Thika Road will take place on September 13 at their office in Westlands.
Bidders will be required to deposit a Whopping Kshs5 million before participating in the bid.
“Bidders will be required to produce a bidding deposit of Kshs5 million by way of cash or bankers cheque before being allowed to bid,” the notice read.
The property is registered under Farmer Industry Limited and Florence Wairimu Mbugua. Its size is about 0.2277 hectares. On it, is a seven storey building which has two basement floors, a penthouse on the rooftop, a sentry house and a power house.
The commercial property is said to attract a monthly rent income of Kshs3 million.
“The title is a leasehold interest for a term of 99 years and a revisable annual rent of Kshs78,000. The total outstanding house rent land rates as at 11/04/2022 amounted 429, 780. The total outstanding land rate as at 12/04/2022 amounted to 2,206,164,” Garam auction’s notice read.
Below is the full Garam’s auction notice giving more details about the property.
Jubilee House is being auctioned! pic.twitter.com/cMEwlLkXHK
— Frederick Muitiriri (@FredMuitiriri) August 29, 2022
Jubilee is yet to issue a statement if they will continue operating from the property.
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