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L'e Mac - The First Residential Skycrapper in Kenya..
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Jamani
#41 Posted : Tuesday, September 25, 2012 7:40:22 AM
Rank: Elder

Joined: 9/12/2006
Posts: 1,554
Seles83 wrote:
Jamani wrote:
Seles83 wrote:
The fact that most of us cannot afford the project doesn't make less qualified to analyze the prospects of possible ROI and challenges of such kind of investments..

I see a trend that most luxury apartments and projects get severe beating or heavily criticized negatively without facts or even sound logic..

"Its not the most intelligent people that make it big in life..but the most responsive and adaptive of them all"


The issue we are talking about is not affordability or beating luxury apartments for the sake of it as you state above rather we are questioning the value for money.
Is there value investing KES 15 million for a one bedroom apartment? that is the issue.


What do you reckon would be fair price for L'e Mac given the facilities and location?


Talking about one bedroom, at KES 15 million is it value for money?
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Seles83
#42 Posted : Tuesday, September 25, 2012 8:25:17 AM
Rank: Member

Joined: 11/9/2007
Posts: 288
Location: OZ
Talking about one bedroom, at KES 15 million is it value for money?

What would be the fair price?
More monies, more problems...
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Jamani
#43 Posted : Tuesday, September 25, 2012 9:28:06 AM
Rank: Elder

Joined: 9/12/2006
Posts: 1,554
Seles83 wrote:
Talking about one bedroom, at KES 15 million is it value for money?

What would be the fair price?


With that money you can get a 3 bedroom apartment within the vicinity. It is not fair value based on the current market, there are better options.
On the other hand the current returns for rent on a one bedroom apartment will not march the investment
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rock
#44 Posted : Tuesday, September 25, 2012 9:39:19 AM
Rank: Veteran

Joined: 2/25/2009
Posts: 973
Jamani wrote:
Seles83 wrote:
Talking about one bedroom, at KES 15 million is it value for money?

What would be the fair price?


With that money you can get a 3 bedroom apartment within the vicinity. It is not fair value based on the current market, there are better options.
On the other hand the current returns for rent on a one bedroom apartment will not march the investment

Spot on! In fact,the least you should go for is a 2 br apartment around there,kilimani,lavington or kile.
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Seles83
#45 Posted : Tuesday, September 25, 2012 10:20:30 AM
Rank: Member

Joined: 11/9/2007
Posts: 288
Location: OZ
Its going to be hard for prospective tenants not to be enticed by wonderful panaroma views from the apartments..just imagine having coffee or relaxing at any floor above 10 floor watching over westlands or city at night..

Honestly how many residential apartments can offer that...

Go for a swim at 22 floor and chill out at top of 22 floor..

- This building is going to be a game changer for high end tenants and landlords...

My only worries are many rules for tenants to create amble environs and high service charge for prospective investors/owners..

I cant say much about the price..but one thing i know the stakes have been raised up!!
More monies, more problems...
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  | | Edit by user: Tuesday, September 25, 2012 10:24 AM | Reason: Not specified
QD
#46 Posted : Tuesday, September 25, 2012 10:29:54 AM
Rank: Member

Joined: 8/5/2009
Posts: 597
Jamani wrote:
Seles83 wrote:
Talking about one bedroom, at KES 15 million is it value for money?

What would be the fair price?


With that money you can get a 3 bedroom apartment within the vicinity. It is not fair value based on the current market, there are better options.
On the other hand the current returns for rent on a one bedroom apartment will not march the investment


Having decipered the kind of target market then your question is somewhat misplaced, is it value for money for you and me? the genuin answer is NObut to the target market may be yes my be no.
The problem with the world is that the intelligent people are full of doubts while the stupid ones are full of confidence
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Jamani
#47 Posted : Tuesday, September 25, 2012 10:31:52 AM
Rank: Elder

Joined: 9/12/2006
Posts: 1,554
Seles83 wrote:
Its going to be hard for prospective tenants not to be enticed by wonderful panaroma views from the apartments..just imagine having coffee or relaxing at any floor above 10 floor watching over westlands or city at night.. Other buildings are being approved of similar height that might block the view

Honestly how many residential apartments can offer that... Very few indeed

Go for a swim at 22 floor and chill out at top of 22 floor.. Nice and relaxing

- This building is going to be a game changer for high end tenants and landlords... game changer but not value for money

My only worries are many rules for tenants to create amble environs and high service charge for prospective investors/owners...."high end tenants and landlords" will easily afford it

I cant say much about the price..but one thing i know the stakes have been raised up!!

My issue is on price knowing what that money can get me around the same vicinity
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Seles83
#48 Posted : Tuesday, September 25, 2012 10:36:08 AM
Rank: Member

Joined: 11/9/2007
Posts: 288
Location: OZ
QD wrote:
Jamani wrote:
Seles83 wrote:
Talking about one bedroom, at KES 15 million is it value for money?

What would be the fair price?


With that money you can get a 3 bedroom apartment within the vicinity. It is not fair value based on the current market, there are better options.
On the other hand the current returns for rent on a one bedroom apartment will not march the investment


Having decipered the kind of target market then your question is somewhat misplaced, is it value for money for you and me? the genuin answer is NObut to the target market may be yes my be no.


It will be really hard to make an objective comparison...According to some valuers, they say such a building will attract a premium of 20-30% above the current market rates..for rents..
More monies, more problems...
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jaggernaut
#49 Posted : Tuesday, September 25, 2012 10:58:10 AM
Rank: Elder

Joined: 10/9/2008
Posts: 5,389
Jamani wrote:
Seles83 wrote:
Jamani wrote:
Seles83 wrote:
The fact that most of us cannot afford the project doesn't make less qualified to analyze the prospects of possible ROI and challenges of such kind of investments..

I see a trend that most luxury apartments and projects get severe beating or heavily criticized negatively without facts or even sound logic..

"Its not the most intelligent people that make it big in life..but the most responsive and adaptive of them all"


The issue we are talking about is not affordability or beating luxury apartments for the sake of it as you state above rather we are questioning the value for money.
Is there value investing KES 15 million for a one bedroom apartment? that is the issue.


What do you reckon would be fair price for L'e Mac given the facilities and location?


Talking about one bedroom, at KES 15 million is it value for money?


Sasa 1 brm, mtoto, housegirl watalala wapi? Unless you are targeting single people or the elderly. And the elderly would prefer somewhere with some garden and chirping birds.

I think the way forward would be to furnish the apartment and run it like a hotel suite targeting business travellers. Then you compete with Sankara Hotel, Tribe etc. After all Le mac is designed like a hotel.
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  | | Edit by user: Tuesday, September 25, 2012 10:59 AM | Reason: Not specified
Jamani
#50 Posted : Tuesday, September 25, 2012 10:58:57 AM
Rank: Elder

Joined: 9/12/2006
Posts: 1,554
Seles83 wrote:
QD wrote:
Jamani wrote:
Seles83 wrote:
Talking about one bedroom, at KES 15 million is it value for money?

What would be the fair price?


With that money you can get a 3 bedroom apartment within the vicinity. It is not fair value based on the current market, there are better options.
On the other hand the current returns for rent on a one bedroom apartment will not march the investment


Having decipered the kind of target market then your question is somewhat misplaced, is it value for money for you and me? the genuin answer is NObut to the target market may be yes my be no.


It will be really hard to make an objective comparison...According to some valuers, they say such a building will attract a premium of 20-30% above the current market rates..for rents..


Just as it is making the valuation, It all depends on which side the valuers are standing.....
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