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KES45,000,000

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Business 9+ bedrooms
For Sale
Shanzu
Kenya

Mtwapa Shopping Complex (South)- -3.943574, 39.744714
Current position: Lat:-3.943465 Lan:39. --(Phone number)--
Closest matching address: B8, Mtwapa, Kenya close to Total Petrol station.
For sale, an attractive building and business trading as a Shopping Complex with A ROOF top RESTURANT( KITCHEN/CHOMA) built but not rented with 2 bars 750 SQ M ,(proposed rent 150,000 per month}
11 units for Shop rental on the Ground Floor.7 bedsitters plus( rent tribunal assessed at 10,000 per months = 70,000). 2 large 2 BEDROOM Apartment Flats/ on the 1st Floor ( on apartment is currently a driving school and the other kept empty for owners ,both valued at 25.000 so total 50,000 per month.

The property is in the heart of new Mtwapa right on the Main MSA/Malindi Highway 2 KM from beach. Neighbour to Total petrol station , Mtwapa Mall ,Tusky`s etc and Lambada Club/Hotel ted in front of the former Kendas Village Hotel and near to Danicha Plaza ,Mtwapa Elite Academy and a new finished Condo development.
GROUND FLOOR: In the front there is a large 2 unit converted to Pub/Grill Restaurant with large veranda and beer garden called `Palace Pub`.(current rent is 40000)
There are 7 more units hosting computer internet cafe`s, Tailor`s, Hairdresser`s , Beauty Shop, Estate Agent`s and Hardware shop`s rented out .( 7800 currently should be assessed but proposed value is over 10000 each) current value at 70,200.
1st FLOOR (2nd story) has a total of 9 apartments consisting of 2 new large 2 bedroom apartments (75 m sq approx.),7 newly built smaller bedsitters; all with apartments and bedsitters with balconies completed to a high standard .
The 2 large flats on the 1st Floor and the 7 bedsitters that all have individual balconies, wc`s, kitchens with fitted wooden double doors `tiled floors and free water .The rent tribunal has assessed the rent to be upgraded to 10 K per bedsitter , for the 2 large apartments 25 k each giving a total of income for the 2nd Floor alone to 120 k per month. We have not released the new leases yet as we are waiting for new proposed owner to have the option.
Work on the 3rd floor roof top restaurant has been completed and roof (galvanised steel aluminium with Red COVERMAX.
The total income from the building is about 450,000.
This location supports having a roof top club /restaurant/bar and the beach is only 2 Km away and there is always a great sea breeze blowing from the Indian Ocean.
The current selling has been reduced to 45 M khs as the owner wants a quick sell for personal reasons but compared to other buildings in the area it is lower by 15m at least. The complex includes residential and business options all in one building. Location is very prime right on the road and property prices will go higher .The property is roadside just before the Total gas station which is just before the Lambada international resort and it will not be affected by any future road,The lease yrs available are 75 yrs (orig lease 99 yrs).All current shops ,pubs and bedsitters lease have ended so if one wanted to rent daily or change the purpose of the building this can be done

Mtwapa Shopping Complex (South)- -3.943574, 39.744714
Current position: Lat:-3.943465 Lan:39. --(Phone number)--
Closest matching address: B8, Mtwapa, Kenya close to Total Petrol statio...

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