The Pinnacle Tower
It is now official that the construction of Kenya’s tallest building ( The Pinnacle Tower) is in Limbo after it was put up for sale over a fraud-like Loan Default.
This regrettable decision followed Nairobi Commercial Court’s decision to allow a local bank to sell the land through a public auction, effectively stopping Nairobi’s aspirations of hosting Africa’s tallest building hence affecting its operations
According to the investigations, the was designated to host the tallest building in East Africa but the company that was involved was a fraud.
So far the land has been put on sale and interested bidders were invited to submit their bids for the purchase.
”All that parcel of land known as L. R. No. Nairobi/Block 31/219, Upper Hill Area, Nairobi City County, registered in the name of One Upper Hill Towers Limited c/o P. O. Box 76337-00508 Nairobi, G/T Jabavu Village Limited c/o P. O. Box 9573-00100 Nairobi and/or 45669-00100 Nairobi, and Hasscon Pharmaceuticals Limited,” the notice read in part
Sources intimate that the property is located in the Upper Hill Area, Nairobi City County, and is approximately 800 meters southwest of Nairobi City Centre.
Investigations show that it is situated along and to the right of Upper Hill Road, about 20 meters from its junction with Haile Selassie Avenue,” it added. According to the auctioneer, the plot where the Pinnacle Towers was to sit measures 1.002 hectares and it is undeveloped. The same was deeply excavated to create room for basement floors and the foundation of a proposed multi-story building.
The title of the land is on a leasehold interest for a term of 99 years at an annual ground rent of peppercorn. The bidders will be required to produce a bidding deposit of Ksh10 million by way of cash or bankers’ cheques before being allowed to bid.
Additionally, the land is connected to the mains electricity, piped water, and sewer services are available for connection.
The construction of Pinnacle Towers had stalled for seven years, despite the building’s commencement in 2017 when then-President Uhuru Kenyatta laid the foundation stone for what was to be Africa’s tallest tower, a 70-storey building.
The building was set to house significant businesses, including the Hilton hotel, and was projected to occupy 45 floors and feature 255 rooms. A rooftop bar was also planned for the 43rd floor of the hotel.
Eastleigh
In Nairobi’s bustling Eastleigh Estate, another prominent building housing a popular hotel has been put up for sale through a public auction.
The property, known as New Al-Hamdu Palace Hotel, is located in Eastleigh Section III and is being auctioned by Garam Investments Auctioneers.
Al-Hamdu Palace Hotel
”All that parcel of land known as L.R. No. 36208, New Al-Hamdu Palace Hotel, Eastleigh Section III, Nairobi City County, registered in the name of Abdi Mohamed Ali, and Mega Wholesalers Limited c/o P. O. Box 16035-00610 Nairobi. The property is easily identifiable as New Al-Hamdu Palace Hotel and is at the junction of 14 Street and Eastleigh Second Avenue within Eastleigh Section III, Nairobi City County,” the auction notice read in part.
The property has a freehold title, with main services including water, electricity, and a sewer line already connected. According to the auctioneer, the hotel building is erected on a six-story commercial block with a rooftop unit.
Upper Hill’s Pinnacle Tower Land Put on Auction Alongside Eastleigh Building
”The parcel measures 0.049 hectares (0.121 acres) or thereabouts. Erected there is a six-storey commercial block with a rooftop unit. The ground floor is used as a commercial stall while the other floors are used as a hotel.” it added.
Additionally, it has modern accommodation facilities, spacious stalls, a circulation passage, reception, and a mosque, among other amenities.
