Suraya apartments, mansions and land whose worth is in the hundreds of millions have been put up for auction. The properties are being auctioned by Dalali Traders Auctioneers.
According to an advertisement for the auction that was placed in the newspapers by Dalali Traders Auctioneers, the apartments up for auction are known as Lonehill Estate. They are located in Makadara estate in Nairobi and consist of 62 apartments.
These 62 apartments include 21 two-bedroom units, 10 one-bedroom units, 18 studios, and 13 bedsitters. According to Dalali, these properties are located about four kilometres from Nairobi’s city centre, off Mbagathi Road, opposite Akila II Flats in Makadara Estate.
The next property to be put under the hammer is known as Mandara Villa 12 Rosslyn Heights. The third property is a parcel of land that measures 0.84 acres that is located in Imara Daima, Nairobi.
According to Dalali Traders Auctioneers, of the 62 apartments, a bedsitter is being auctioned for Sh. 1.13 million. A studio is going for Sh. 1.7 million while a one bedroom unit is being auctioned for Sh. 4 million. The two-bedroom unit is being auctioned for Sh. 5 million. This means that the whole auction of this particular property could fetch Sh. 192.5 million.
Further, each of the two villas at Rosslyn Heights is being sold at Sh. 53 million. The auctioneers state that one of the villas comprises of a five-bedroom, all ensuite double storey house with a detached servant’s quarter while the other villa has a swimming pool and entertainment areas. The two are located in the same location.
Cost of building three bedroom house in Nairobi, Coast, Nyanza, Central regions
Prospective buyers for the properties have been asked to deposit Sh. 500,000 to obtain a bidding number. Dalali will refund this amount if their bid is unsuccessful. Additionally, prospective buyers are to be aware that they will be required to pay a deposit of 10 per cent of the sale price during the day of the auction. They will then need to pay the balance within 90 days if their bid is successful.
Once a highly acclaimed off-plan real estate company, Suraya Properties which is owned by spouses Pete and Sue Muraya has turned into a bitter pill for individual investors and financiers including Equity Bank, Access Bank Kenya and Absa Bank.
The company defaulted on loan repayments which forced financiers to start auctioning its houses. In turn, investors who had made deposits for the off-plan development projects were left bleeding in a sea of sharks.
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