The Coca-Cola Complex located in the Upper Hill business district, is now up for sale.
The Complex, which is one of Nairobi’s most modern buildings, is three storeys high, covering 116,350 square feet on 3.26 acres.
It has been placed on the market by realtor Knight Frank.
The Realtor firm, invited prospective tenants and buyers to place bids on or before the 4th of July 2019.
A notice by Knight Frank stated that “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,”.
The firm’s notice, also described the property as being suitable for a headquarter, office campus or as an asset management and development opportunity.
The property served as the regional headquarters for Coca-Cola Central, East and West Africa overseeing operations in 14 African countries.
The beverages giant (Coca-Cola), has since moved to the newly built 90 James Gichuru.
Coca-Cola’s Regional General Manager Ahmed Rady, made it known that the move, was meant to redefine their working space; make it ‘more open and less formal’ and closer to residential areas giving employees the best work experience.
Although Realtor Firm Knight Frank, declined to disclose the asking price when contacted, vacant parcels of land within Upper Hill go for between 500 million Kenyan Shillings to 600 million Kenyan Shillings per acre.
Because of its modern and green architecture which improves natural lighting, ventilation while also harnessing water harvesting for its greening programme, it remains to be seen how much the bid price will be.
The former Coca-Cola headquarters is estimated to cost about 700 million Kenyan Shillings.
Earlier reports according to Business Daily however, indicated that Coca-Cola was looking for over 1 billion Kenyan Shillings.
Leasing or renting within the locality, ranges between 130 Kenyan Shillings to 200 Kenyan Shillings per square foot but the Coca-Cola owned property could fetch more.
The Atlanta Georgia based multinational company is one of richest in the world.
