Got Ksh460M? Own a pre-colonial era building in Nairobi

You got Ksh460M? You can own iconic pre-colonial era building in Nairobi

Sanlam Kenya, formerly Pan Africa Insurance Holdings is set to dispose of the iconic Sanlam House, along Nairobi’s Kenyatta Avenue as they embark on a global effort to attract tenants at its almost complete Sanlam Towers Property in Westlands. Sanlam Kenya has occupied the landmark Sanlam House for over six decades. The building along Kenyatta avenue was one of the pioneer business and office blocks in the city’s business district in the precolonial era.

At a Kshs 460 million reserve price, Jones Lang LaSalle (JLL) Kenya Limited, a fully owned subsidiary of JLL, a financial and professional services firm has been exclusively retained by Sanlam Kenya, to secure a buyer . Speaking when he confirmed the consultants’ appointments, Sanlam Kenya Group CEO, Mr. Mugo Kibati said that the firm has also retained Ms Knight Frank, Cushman & Wakefield and Axis Real Estate as the letting agents for the 18-storey Sanlam Towers building in Westlands. The  5-storey building has a potential to generate a more than Ksh33.7 million monthly rental income based on current market rates.

“We are embarking on a global concerted effort to offload Sanlam House from our portfolio and while at it accelerating efforts to retain discerning tenants at Sanlam Towers,” Kibati said, adding that, “going by the current level of interest, I am optimistic that we shall be speedily signing up tenants at the Grade A complex in Westlands by the end of the year.”

Within its property investments’ portfolio alignment strategy, Sanlam Kenya plans to vacate Sanlam House in coming months. The firm will be moving to the new 18 storey Sanlam Tower building in Westlands, Nairobi.
The ongoing construction works of the Ksh2.7 billion eco-friendly Sanlam Tower jointly designed by Triad Architects and Gapp Architects, features a 140,000 square feet of office space and will provide a new home for Sanlam Kenya, which will be moving to the new location in a few months.