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Wednesday, May 27, 2020

Coca Cola complex in Upper Hill on sale at over Sh. 1 billion

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Nairobi buildings on sale: A building complex that is owned by Coca-Coca has been put on sale. The property is billed as one of the most modern structures in Nairobi. It covers 116,350 square feet on 3.26 acres.

It is estimated that the complex will be sold at more than Sh. 1 billion. It had cost Sh. 700 million to build. It consists of modern and green architecture that improves natural lighting, ventilation and harnesses water harvesting for its greening programme.

SEE MORE: Land prices per acre in Nairobi and its environs (Updated 2019)

“The Grade A office building with 130 parking spaces is strategically located in the business district…Where it occupies one acre with the rest undeveloped. It has a sound-proof auditorium, gym, fitness studies and a cafeteria,” a statement from Knight Frank who are selling the property says.

The property has been serving as a regional headquarter for Coca-Cola Central East and West Africa overseeing operations in 14 African countries. Coca-Cola has now moved to the newly-built 90 James Gichuru.

Regional general manager Ahmed Rady said the new work station provides a “more open and less formal” environment for employees as the firm focuses on diversification of products to match the needs of increasingly health-conscious consumers.

“We want to provide our employees with the best work experience and one of the key projects, which are global, but we are working on here (in Nairobi office), is called “Workplace Vision 2020” where the space that we provide is more open, more collaborative. It also inspires creativity, innovation and is less formal and more comfortable with more hang-out places,” Mr Rady said.

According to a report in one of the leading local dailies, vacant parcels of land within Upper Hill go for between Sh. 500 million to Sh. 600 million per acre. Similarly, apart from Nairobi buildings on sale, rent within the Upper Hill locality ranges between Sh. 130 to Sh. 200 per square foot.

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