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Part Of Nextgen Mall Set For Auction Over Unpaid Loans

Nextgen Mall. [PHOTO/ COURTESY]

Part of NextGen Mall along Mombasa Road is set to be auctioned to recover an undisclosed amount of loan.

The auctioneer, Garam Investments says that it is targeting Unit C, which is on the first floor of the building and is identifiable as Pent Office, packaged together with three parking bays, accommodation which includes a reception lobby passage, thirteen single room offices, two double room offices, a meeting room, a boardroom, a kitchen fitted with a sink, inbuilt cupboards and private granite worktops.

The building, owned by Navin Shah and managed by Cresta Investments Ltd, is set for public auction on February 18.

“The property is situated along Mombasa Road and near Eka Hotel. It is identifiable as Nextgen Mall. The property is conveniently located along the busy Mombasa Highway in South B and within close proximity to the Southern Bypass and the City Centre,” read the notice.

Read: More Distress For Urithi As Panorama Gardens Auction Tussle Continues

NextGen Mall has a total of eight floors with 200 retail units over three floors, four floors of office space and one floor occupied by eateries, lounges and a fitness centre.

At least 100 investors have bought space at the building, but have been fighting for some facilities such as parking which is limited.

Owners rake in at least Ksh530,000 in rent from the building, according to the auctioneer.

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Written by Francis Muli

Senior reporter at Kahawa Tungu, Muli has a passion for human interest stories. Believes in unearthing societal rots that have been hidden from the public eye.
Follow me on Twitter @FmuliKE. Email francis@kahawatungu.com

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