Nairobi's Former Jubilee Party Headquarters Up for Auction on May 6
- Garam Investments Auctioneers will auction off the Emani Business Centre on behalf of Stanbic Bank Kenya during an event scheduled for May 6 at their Westlands premises.
- Potential buyers are required to make a deposit of KSh 5 million after the auctioneer's hammer comes down.
- The buyer must make a down payment of 10% of the total purchase amount into the account by the end of business on the auction day.
Bonface Kanyamwaya, a journalist with .co.ke, boasts over a decade of expertise in covering sectors such as business, finance, the economy, markets, and aviation. His work offers valuable perspectives on both Kenyan and international developments.
The Emani Business Centre, a seven-story structure previously serving as the main office of the Jubilee Party, is scheduled for an auction on Tuesday, May 6, 2025.
The structure situated beside Thika Road is now being offered at an auction through Garam Investments Auctioneers, acting on behalf of Stanbic Bank Kenya, which is a branch of South Africa’s Standard Bank.
The requested price stands at KSh380 million, with an estimated monthly rental income of approximately KSh4.35 million, according to confidential sources who have insight into the specifics. .co.ke .
"All potential buyers are advised to inspect the property and confirm the information provided since such details are not guaranteed by the auction house," stated the auction announcement published in a local newspaper on April 1st.
Garam Investments stated that the auction will take place at their premises situated on Western Heights along Karuna Road in Westlands, Nairobi, beginning at 11 am.
The plot of land, identified as LR No 209/1530 at the Emani Business Centre along Thika Road in the Pangani area, is registered under Farmers Industry Limited.
Bidding conditions
As stated in the auction notification, potential participants must submit a bid bond of KSh 5 million through a banker's check or cash when the hammer falls.
Potential buyers must submit a deposit of 10% either in cash or through a banker's check when the auctioneer bangs the gavel. The remaining amount needs to be paid within 90 days after the chargee makes their initial payment.
"Kindly be advised that failing to settle the outstanding amount as per the confirmed buyer will lead to the loss of all deposited funds," stated the notification.
Major facilities at the facility
The land spans 0.5626 acres and features a seven-story commercial building that includes two underground levels, a guardhouse, a power station, along with a car park and various additional facilities.
The Jubilee Party previously occupied the premises as a tenant, having leased the space from 2016, a year before the 2017 general elections.
The structure served as the primary hub for the party during the previous elections. Additionally, it housed essential offices needed for their activities.
The structure is associated with an ex-high-ranking official from the Cabinet of late President Daniel Arap Moi, who was also a member of parliament representing the Rift Valley region.
Caleb Kositany, who currently serves as the chairman of the Kenya Airports Authority and previously held the position of deputy secretary for the Jubilee Party, stated back in 2018 that the party was spending approximately KSh 90 million annually in rent for the premises.
Emani Business Centre woes
This isn’t the first time the complex has gone up for auction. It happened last year as well. .co.ke it was reported that the same building was listed for auction by Philips International Auctioneers.
The activists' deadline for action was scheduled for Tuesday, March 26, 2024, at their offices in Kileleshwa.
Potential purchasers were informed that they needed to make a refundable deposit of KSh 5 million to acquire a bidding number and catalog.
The buyer who declared their intention was required to make a down payment of 10% of the total purchase amount into the account on the day of the auction prior to the end of the business hours.