The involvement of more detailed architectural design, architectural supervision for workmanship and architectural play with shape, color and texture of materials makes the difference between high, middle and low cost/class of construction.
Each building should be designed such that it gets a better Return on Investment for any given location.
For example, land in Lavington costs approx. kes100 to 150m per acre. Therefore, the investment can get good rental returns hence need to spruce up the building with fancy designs and high end finishes.
Likewise, if a high end building is put up in Kayole where rental returns are low, the ROI will not be good.
Mixup of building quality in Kileleshwa.
Of late, a mixup of low cost buildings in high cost areas has started to be seen is parts of Kileleshwa. This is mainly due to clients having little or no architectural consultancy hence poor feasibility studies and budgeting.
The resultant is that the buildings will get low rents which will not cover the high land costs .This can eventually lead to value devaluation for the entire neighbourhood.
For example, if Kileleshwa building quality degenerates to the level of Ngara/Pangani/Eastleigh, which are at the same distance from Nairobi CBD, this means the land value and rent value will also go down.
Kileleshwa land price.
Current land price in Kileleshwa is between kes 90m to kes 150m per acre.
Kileleshwa Police station area is 5.4km from Nirobi CBD.
This is the same distance as Eastleight past Garissa Lodge area towards St Teresa Girls School.
Here land value is also between 80 to 160m per acre but with lower rental returns.This high price is due to sentimental buying by Somalis hence only sustainable as long as Somalis are investing. Once Somalia regains its peace, land values will come down as Somalis go back to their country to invest.
Along Ngong road, same 5.4 km will take you till Adams Arcade area with land price of between 150 to 200m per acre.
Land price in same 5.4km distance from CBD along Waiyaki way and Ngong road is already selling for between 150 to 200m per acre with very good rental returns.
If Kileleshwa ensures that the building developments are of same quality as Adams and Safaricom house areas, developers will enjoy the high land and rental income value same as Ngong road Adams Arcade area and Waiyaki Way Safaricom house area.
If developers in Kileleshwa continue to construct lower quality buildings, land price will stagnate and rental income will be low,same as Eastleigh.
Kileleshwa flats.
These are some of the flats for rent in Kileleshwa. Compare them with the average high, middle and low cost finished flats .
http://www.buyrentkenya.com/beautiful-apartments-in-kileleshwa-githunguri-for-rent-in-nairobi-kilileshwa-65000-kshs-in-kenya-2012~adv422.htm
http://www.patauza.co.ke/property-kileleshwa-nairobi—spacious-3-bedrooms-apartmen-available-in-kenya-pu-19380.html
There is not much difference with the average Middle cost finished flats in Rongai, Kitengela and Kiambu.
Pictorial Differences between High, Middle and Low cost flats in Nairobi.
Notice the difference in shape, materials used and play of colour/texture.
High cost flats.
Lavington.
Middle cost flats.
Rongai, Kitengela.
Low cost Flats.
Kayole, Mathare North.
Leave a Reply