Former Jubilee Headquarters on Thika Road is Back on the Auction Block
A seven-story building in Nairobi leased out for nearly a decade to the former ruling Jubilee Party was on Monday, March 18, put up for auction again.
The building, which sits on 0.56 acres along Thika Road, is being auctioned by Phillips International Auctioneers.
“Duly instructed by our principle, the chargees, Under their statutory provisions; under which seizure repossessed and sale is authorized: Under section 90 of Land Act, Section 90 (3)(e) and 96(I) of the Land Act,2012, and in conformity with the Auctioneers Act & Rules more specifically Rules: 11,15, 16, 17 and 18 of the said Auctioneers Rules – 1987 together with other applicable Laws of Kenya, your under mentioned property together with all the improvements erected thereon, will be sold by public auction on Tuesday, March 26, 2024,” an advertisement on Daily Nation page 25 read in part.
The Nairobi office bloc, which was Jubilee party’s center of operations in the 2013 and 2017 elections, will be sold when the auctioneer’s hammer falls next week.
“All that parcel of land known as LR no 209/1530 Emani Business Centre along Thika Road, Pangani area, Nairobi County registered in the name of Farmers Industry Limited and Ms. Florence Wairimu Mbugua,” the auctioneer said.
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“Bidders will be required to produce a bidding deposit of Sh5 million by way of cash or bankers cheque before being allowed to bid.”
This is the second time the building is being put up for auction. In August 2022, it was put up for auction by Garam Investments Auctioneers by Stanbic Bank Kenya, a unit of South Africa’s Standard Bank, seeking to recover Sh435 million over a debt that fell into default in 2021.
In 2018, the then Jubilee party deputy secretary Caleb Kositany claimed the party was paying about Sh90 million in annual rent for the seven-story building.
The Auctioneers Act provides that complaints be filed within a year after an incident occurs.
According to the Act, while in pursuit of a directive to attach property, an auctioneer should not exercise dishonesty, immorality, violence, or malicious damage.
Similarly, the auctioneer must have the property value to protect the interest of the owner.
Former Jubilee Headquarters on Thika Road is Back on the Auction Block