COMMERCIAL PROPERTY IN WESTLANDS, NAIROBI
Land value is approximately KES 200,000,000 per acre=KES 50,000 per square meter.
Assuming 50% ground coverage on construction for 10 floors, this will be approximately 2000m2 x 10 floors =20,000 m2. The fraction of the cost of land within the built up area will therefore be KES 200,000,000 divide by 20,000m2 =KES 10,000 per m2.
Cost of construction.
The average cost of construction for a high-rise building in Nairobi is KES 60,000 per square meter.
The total cost of construction will be cost of land plus cost of construction = 60,000 plus 10,000 =KES 70,000 per square meter.
Return on Investment.
Office sale value is approximately KES 13,000 per square foot=KES 130,000 per square meter.
The profit margin is KES 130,000 minus KES 70,000 =KES 60,000.
This represents an 85% Return on Investment hence a very viable option to develop offices for sale.
WOODVALE PLACE, WESTLANDS
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| From Westlands Buildings |
This building has a front façade clad in natural brick.
The interior floor is finished with pvc tiles.
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| From Westlands Buildings |
The windows are arch shaped.
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| From Westlands Buildings |
Available space: 3rd floor-1500 sq. ft.
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| From Westlands Buildings |
Rent: KES 70 per square foot.
Street parking.
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| From Westlands Buildings |
BANDARI PLAZA, Woodvale groove, Westlands.
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| From Westlands Buildings |
Available space-3,800 sq. ft.
FORTIS TOWER-Woodvale Groove.
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| From Westlands Buildings |
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| From Westlands Buildings |
This building is under construction and the office spaces are up for sale.
RELIANCE CENTRE-Woodvale Groove.
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| From Westlands Buildings |
This is a newly completed modern building.
Available space: 3rd floor. 1000 square feet.
Rent: KES 100 per square foot.
Features:
Lift Lobby finished in Marble.
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| From Westlands Buildings |
Entrance Lobby finished in marble and Granite tiles.
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| From Westlands Buildings |
Modern exterior appearance.
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| From Westlands Buildings |
3 modern lifts.
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| From Westlands Buildings |
Finishes.
Floor-ceramic tiles
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| From Westlands Buildings |
Windows-UPVC windows
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| From Westlands Buildings |
Views: overlooking the prestigious Sankara Hotel
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| From Westlands Buildings |
Francis Gichuhi Kamau
Architect.
info@a4architect.com
www.a4architect.com
+254721410684
Comments
3 responses to “COMMERCIAL PROPERTY IN WESTLANDS, NAIROBI”
do you have the indicative price of the cost per sq meter/sq feet for building a mall?
mall costs depends on so many factors hence a wide range from kes 38k to kes 70k per m2.
do you have a commercial building for sale in westlands that goes for not more than 700M?