This is the first project / investment the Society engaged in and is situated at the junction of Hakati Road and Mfangano Street – Nairobi. The property – LR. 209/4988 was bought in 1986 at a cost of Kes. 11.5million and its current cost is Kes. 300.0million as per Valuation Report of May 2019. It is a 6 storey building and is fully let to various tenants. It also hosts our offices on the 6^th Floor.

Current occupancy is as follows:

Ground and First Floors

Measuring approximately 12,600ft² the whole of this space is leased by Tuskys Supermarkets Hakati Branch.

Second Floor

Measuring approximately 3,600ft² and Tuskys Supermarkets still holds half of the space, while the remaining half measuring 1,800ft² is rented by five other Tenants. On this floor, there are 2 Dental Clinics, 1 Law firm, 1 Insurance Agency, 1 Tour Firm and 1 Property Management Company.

Third Floor

The floor has a total letting space measuring approximately 3,600ft² and has 24 standard offices measuring 150ft² each. On this floor, tenants are engaged in different types of businesses such as; Salon, Tailoring & Dressmaking, Legal Services, Herbal/Alternative Medicine, Motor Vehicle Assessment, Tax/Audit Consultancy, Driving School, Clearing & Forwarding and Transport Sacco Societies.

Fourth Floor

The floor has a total letting space measuring approximately 3,600ft² and has 24 standard offices measuring 150ft² each. On this floor, tenants are engaged in different types of businesses such as; Legal Services, Property Management, Laboratory Chemical Supplies, TOEFL School, Music Production and General Supplies.

Fifth Floor

The floor has a total letting space measuring approximately 3,600ft² and has 24 standard offices measuring 150ft² each. On this floor, tenants are engaged in different types of businesses such as; Legal Services, Tax/Audit Consultancy, Surveying & Mapping, Transport Sacco Society, Building/Architectural Designs, Clearing & Forwarding, Computer Supplies & Maintenance, Property Management, and General Supplies.

Sixth Floor

This is the pent house measuring approximately 1,500ft² and housing Relisa Management Offices / Headquarters. It has about 6 offices namely; Reception Lobby and Office, Registry, Chairman’s Office, Vice Chairman’s Office, Manager’s Office, Boardroom, Kitchen and 2 Washrooms.

Roof-Top, Walls and Canopies

Above the pent house, is the roof-top and the open space is leased to telecommunication service providers such as; Telkom Kenya Limited, Safaricom Limited and Airtel Networks (K) Limited. They have all installed their equipments and pay their rents annually. Other than the roof-top, the walls and above the canopies have been let to Out-door Advertising Companies such as; Elite Advertising Limited, Webbs Institute and The Standard Group Limited.

LEASING TERMS AND CHARGES

Term: 5 years and 3 months.

Rate: Minumum of 80.00 per square feet and increasing by Five percent (5.0%) at the beginning of each twelve month period including the renewal periods.

Service Charge: This shall be paid in addition to the Rent and shall be 20% of the Rent.

Water & Electricity: The Tenant shall separately pay for Water & Electricity bills at an approximate rate based on his / her consumption. These shall be invoiced in advance together with rent and service charge.

Payment: Rent is payable quarterly in advance without demand and hence on or by the 5^th day of the first month of the calendar quarter in which the rent is due.

Security Deposit: Equivalent to 3 months Rent plus Other Charges and Taxes and to be updated accordingly at the commencement of each lease year.

Repairs & Maintenance: The Tenant will be responsible for internal repairs & maintenance of the demised premises while Landlord shall be responsible for the external repairs.