Property description & features
The property is a strategic corner plot benefitting from two road frontages giving the site clear visibility from Ngong Road and potential access via two entries off separate roads. This 0.9 acre property is situated in a prime location with huge potential for significant development into commercial offices, hotels, retail use and institutions amongst others subject to obtaining the necessary approvals from relevant government authorities. The site is a fairly level regular shaped plot and has a freehold title. The property is presently developed with some older style 2 and 3 bedroom residential apartments totaling 20 units, the majority of which are currently rented on short term leases. The rents being generated from these units offer a secure stream of income that buyers could utilise whilst they process development approvals. Consequently, a buyer can choose to renovate the current improvements to modern standards so as to increase their economic life and retain the property as a long term investment. Mains electricity, water and sewer are connected to the property. Overall, the property's strategic location, size and two extended road frontages offer a rare opportunity for redevelopment into a comprehensive scheme subject to obtaining necessary approvals from the relevant government authorities.
The property is situated to the north-west of the Ngong Road-Makindi Road junction in Kilimani, approximately 6
kilometres west of the Nairobi Central Business District. The site is situated directly opposite the Swedish School and across the Ngong Road from the Impala Club. Ngong Road has seen a dynamic growth in terms of the increased high rise residential apartments and commercial developments with a significant number of former standalone residential houses now converted into commercial use. The area is characterized by a number of shopping and leisure facilities such as the Junction and Greenhouse Malls. In addition, a number of schools are within easy reach such as the Swedish School, Riara Group of Schools as well the University of Nairobi Kenya Science Campus.
Places of interest
Property reference NAI180039. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Knight Frank - Nairobi. Please contact the selling agent directly to obtain any more information.