Lamu County Milhoi Prime Commercial Property Auctions

Lamu County Milhoi Prime Commercial Property Auctions

Under instructions received from the chargee’s advocates, we shall sell by public auction the under mentioned properties together with buildings and improvements erected therein.

PROPERTY NO 5: HUGE PRIME COMMERCIAL/AGRICULTURAL BEACH SIDE PROPERTY (6,178 ACRES) IN MILHOI AREA, LAMU COUNTY (FRONTING THE INDIAN OCEAN)

ON MONDAY THE 6TH DAY OF FEBRUARY 2017 AT 12.00 NOON AT THE OFFICES OF FIVE ELEVEN AUCTIONEERS SITUATED AT GATHECHA HOUSE, ROOM NO. 9, OFF MOI AVENUE, NEXT TO ELEPHANT TUSKS, MOMBASA CITY

All that parcel of land known as L.R NO. 25986 (CR 35612 MILHOI AREA, LAMU COUNTY registered in the name of TSS SALT MANUFACTURERS LIMITED c/o P.O Box 85039-80100 Mombasa g/t KAAB INVESTMENTS LIMITED c/o P.O Box 84831-80100 Mombasa. This property is situated within Milhoi area of Lamu County approximately 7kms south west of Hindi Market Centre. It is approx. 12 kms North west of Lamu town and neighbours part of the zoned greater Lamu urban area which encompasses the new Lamu Port development area. It is opposite and to the south of Baghdad Estate. The property’s user is for salt manufacturing. It measures approximately 2,500 hectares (6,177.5 acres) and is developed with (i) a five-bedroomed (all en suite) double storey house, (ii) A one-bedroomed Domestic staff quarters (iii) A gazebo (iv) An external ablution block (v) a boat shed for two, cattle dip & trough.

The property has a long and winding frontage to the Indian Ocean to its southern boundary and fronts Witu to Mokoye road to its northern boundary. The close proximity of the subject property to the on-going Lamu/LAPSSET project improves the subject property’s future prospects in terms of capital value appreciation. Mains services electricity and piped water are available for connection while drainage will be to a pit latrine. The title is leasehold interest for the residue term of 99 years w.e.f 01.07.1999 at an annual rent of Kshs120,000 p.a for the first 2 years, Kshs150,000 per annum thereafter; and a royalty of Kshs4.00 for every ton of salt extracted. The property has a huge sub-divisional potential.

NB: That bidders will be required to produce a bidding deposit of Kshs 10million by way of cash or bankers cheque before being allowed to bid

CONDITIONS OF SALE

(1). All intending purchasers are requested to view the property and verify the details as these are not warranted by the auctioneers. (2). A deposit of 25% must be paid in cash or banker’s cheque at the fall of the hammer. The balance will thereafter be payable within thirty (30) days to the chargee’s advocates. A bidding deposit of Kshs 10million (by way of banker’s cheque) will be mandatory for property No. 5, 6 & 7 and Kshs1million for property No.4,8,9 & 10. Please note that failure result in forfeiture of all deposits paid (3). For all the aforementioned property, to pay the balance by the confirmed purchaser will details of encumbrances including names addresses e.t.c. together with user and any other restrictions plus rates/rents payable will be made available on request at our offices. (4). Sale of the above property will be subject to reserve prices and land board consent if applicable. (5). Conditions of sale are available on request at our offices and viewing of property is possible during normal working hours by prior arrangements with ourselves. For hundreds of other properties, log on to www.garam.co.ke

FOR MORE AUCTION DETAILS CONTACT GARAM INVESTMENTS AUCTIONEERS KENYA HERE

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