An auctioneer has put up for sale a prime property on Nairobi’s Riverside Drive where the famous Dusit D2 hotel stands, over a debt of Sh5 billion.
The auction, to be held this morning by Moran Auctioneers, comes after Cape Holdings Ltd, the owner of the property, failed to pay Synergy Industrial Credit Sh4.2 billion plus interest after losing an 11-year- court battle.
An advertisement put in the newspaper yesterday said the property will be sold either as a whole or based on blocks or offices to a single or multiple buyers.
“Bidders must place a deposit of Sh5 million and must pay 25 per cent of the purchase price at the fall of the hammer and the balance should be cleared within 60 days,” the advertisement read.
The property known as 14 Riverside Drive near the University of Nairobi’s Chiromo Campus sits of on a 5.2 acre parcel comprising five office blocks, a five star hotel (Dusit D2) with a swimming pool, a parking silo, a food court and cafeteria.
It also has a garden sitting space and a high security gate house with backup generators. The office blocks each comprise ground floor to six floors. The ground floors have banking halls, shops, while the hotel has seven floors with 101 rooms and suites. BY DAILY NATION