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Top Nairobi hotel to be auctioned over Sh. 240 million loan

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The Westend Hotel, now known as We Hotel and Suites, is set to for auctioning. The luxury hotel which is situated in Nairobi’s Westland will be auctioned for failing to honour debt repayments on an amount that is estimated to stand at Sh. 240 million. This amount is owed to the Bank of India (BOI).

In a notice published in the dailies, Dalali Traders invited potential buyers of the prime property to attend a sale on February 20.

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“Under instructions received from the chargees advocate, we shall sell by public auction the under mentioned property on Friday 16 November at our offices along Kijabe Street next to Universal Church starting at 10:30am,” they said.

“All interested purchasers are requested to view the property and verify the details for themselves. A refundable deposit of Sh. 500,000 to be paid at our offices to obtain a bid number. A deposit of 25 percent of the sale price must be paid in cash or banker’s cheque at the fall of the hammer and balance paid within the 90 days to the charges,” said the auctioneers.

The Westend hotel comprises a seven-storey building with basement parking. It has 42 rooms, 14 serviced apartments, spa, gym, conference space and a restaurant on the 7th floor.

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Its basement comprises 17 parking spaces and a security office. Its ground floor has a conference centre, laundry area, staff dining room, and stores.

Located on Stima Road off Lower Kabete in Westlands it sits on approximately 0.0858ha (0.212 acres).

“A deposit of 25 percent of the sale price must be paid in cash or banker’s cheque at the fall of the hammer and balance paid within the 90 days to the charges,” said the auctioneers.

The hotel is associated with media entrepreneur Purish Shah. Shah, who is the vice chairman of Radio Africa linked urban station East FM had earlier pushed back similar attempts to sell his We Hotel and Suites through the court.

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