The Ronald Ngala PO Building could soon have a new owner after its current proprietor, the Postal Corporation of Kenya Pension Scheme, put it up for sale.
Located on Ronald Ngala Street, one of the busiest streets in Nairobi’s Central Business District, the building hosts numerous businesses, including colleges and real estate offices, and is home to the Ronald Ngala Post Office, which has long been its defining landmark.
A look at the Ronald Ngala PO Building
The four-storey commercial property features:
- Two basement floors, each approximately 9,936 sq. ft.
- A ground-floor banking hall spanning 7,108 sq. ft.
- A mezzanine floor connected to the banking hall, covering 2,747 sq. ft.
- Six upper floors, each measuring approximately 8,881 sq. ft.
- Two lifts serve the building
- A rooftop with access.
Building in the village vs building in the city: Where should you own a home?How much it costs to rent at the Ronald Ngala PO Building
The cost of renting an entire floor at the Ronald Ngala PO Building depends on the prevailing rental rates, which typically range between Ksh 100 and Ksh 120 per square foot.
With each floor measuring approximately 8,881 square feet, the total rental cost varies accordingly. At a rate of Ksh 100 per square foot, renting a full floor would cost approximately Ksh 888,100 per month. If the rate is Ksh 120 per square foot, the cost would rise to around Ksh 1,065,720 per month.
With a 50-year leasehold starting from March 2013, the property serves as a commercial hub in one of Nairobi’s busiest streets. This means the lease will expire in 2063, after which it will be subject to renewal.
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Who are the potential buyers eyeing the property?
Potential buyers of the building could include property investment firms, financial institutions, or high-net-worth individuals looking to expand their real estate portfolios.
Interested buyers have been invited to submit their bids in sealed envelopes addressed to the Trust Secretary of the Postal Corporation of Kenya Pension Scheme.
“Price and other details are available on application,” read part of the advertisement published by the Corporation in the Daily Nation on February 13.
However, the sale has raised questions about the financial viability of public pension schemes and their ability to sustain long-term investments.
