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Edermann property
Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Ryko wrote:Bad News: The valuation report is out na serikali haichezi it maintained the same rates (meaning no change in initial figures, you got to fork 425K) 3BD valued at 7M 2BD valued at 6M Here is a glimpse of the report - (owner names & crucial details blacked out)  Being the Kenyan in me i decided to combombulate & analyse this valation report since it has all names owners of (462 apartments Phase 1) I found this very intresting 1. Women!! Looks like nearly half or more of the owners are women (intresting enough approximately 75% could be from one tribe). If you include husband & wife (woman name included) they are more. So does it mean, men don't but apartments? ama ni watu wa kujenga? ama wanalewa as the ladies buy properties.? Can the "sponsors" be buying for women this apartments? i highly doubt. To me it looks like girl child empowernment is real.... if this represents a fraction of apartment buying then the ground is shifting. 2. 60%-70% of the owners are from one tribe (censored). The have & the havenots.. its not fair to be tribal but this tells alot 3. There is one big vocal tribe that comprises of approximately 4% of the owners. Tunapenda mvinyo sana...  possunt quia posse videntur
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Rank: Member Joined: 5/6/2008 Posts: 199
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Ryko wrote:Bad News: The valuation report is out na serikali haichezi it maintained the same rates (meaning no change in initial figures, you got to fork 425K) 3BD valued at 7M 2BD valued at 6M Here is a glimpse of the report - (owner names & crucial details blacked out) Being the Kenyan in me i decided to combombulate & analyse this valation report since it has all names owners of (462 apartments Phase 1) I found this very intresting 1. Women!! Looks like nearly half or more of the owners are women (intresting enough approximately 75% could be from one tribe). If you include husband & wife (woman name included) they are more. So does it mean, men don't but apartments? ama ni watu wa kujenga? ama wanalewa as the ladies buy properties.? Can the "sponsors" be buying for women this apartments? i highly doubt. To me it looks like girl child empowernment is real.... if this represents a fraction of apartment buying then the ground is shifting. 2. 60%-70% of the owners are from one tribe (censored). The have & the havenots.. its not fair to be tribal but this tells alot 3. There is one big vocal tribe that comprises of approximately 4% of the owners. Where can one get this report?
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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obiero wrote:Angelica _ann wrote:Ryko wrote:Bad News: The valuation report is out na serikali haichezi it maintained the same rates (meaning no change in initial figures, you got to fork 425K) 3BD valued at 7M 2BD valued at 6M Here is a glimpse of the report - (owner names & crucial details blacked out) Being the Kenyan in me i decided to combombulate & analyse this valation report since it has all names owners of (462 apartments Phase 1) I found this very intresting 1. Women!! Looks like nearly half or more of the owners are women (intresting enough approximately 75% could be from one tribe). If you include husband & wife (woman name included) they are more. So does it mean, men don't but apartments? ama ni watu wa kujenga? ama wanalewa as the ladies buy properties.? Can the "sponsors" be buying for women this apartments? i highly doubt. To me it looks like girl child empowernment is real.... if this represents a fraction of apartment buying then the ground is shifting. 2. 60%-70% of the owners are from one tribe (censored). The have & the havenots.. its not fair to be tribal but this tells alot 3. There is one big vocal tribe that comprises of approximately 4% of the owners. Great  One big vocal tribe?? Which tribe could this be.. Oh. I can't guess! Tibiim Tribe  Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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 Pesa Nane plans to be shilingi when he grows up.
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Rank: Member Joined: 2/20/2008 Posts: 84
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@Wazuans..got a couple of questions on this project 1. Does anyone know the current rental prices for Phase 1 (I'm informed it's completed)? 2. Any figures on the current occupancy rates for this phase? 3. I read earlier on the issue of Everest Park apartments having issues with the building inspectors. Does it affect this project given the proximity to the same? Appreciate your feedback. Life and beer are very similar........chill for best results.
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Rank: New-farer Joined: 1/8/2015 Posts: 14 Location: Athi River
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iMANI wrote:@Wazuans..got a couple of questions on this project
1. Does anyone know the current rental prices for Phase 1 (I'm informed it's completed)?
2. Any figures on the current occupancy rates for this phase?
3. I read earlier on the issue of Everest Park apartments having issues with the building inspectors. Does it affect this project given the proximity to the same?
Appreciate your feedback. To my knowledge, the current rental prices stand at Ksh. 27,000 to Ksh 30,000 for the 3 bedroom units and Ksh. 22,000 to Ksh. 25,000 for the 2-bedroom units. I have a friend who is renting a 3-bedroom there, and quite a couple of people have moved there already but I wouldn't be able to give estimates. I am considering taking up a unit there, I lived at Sunset Boulevard just down the road back in 2015, but it was not the best experience back then, hearing tarmacking has been done so could be better. But I have to visit now that it is raining, the flooding used to be very terrible, but given that Greatwall Gardens is way up the hill I do not think it will be affected by similar issues. I plan on visiting this weekend, I will come back with a report.
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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Orionuer wrote:iMANI wrote:@Wazuans..got a couple of questions on this project
1. Does anyone know the current rental prices for Phase 1 (I'm informed it's completed)?
2. Any figures on the current occupancy rates for this phase?
3. I read earlier on the issue of Everest Park apartments having issues with the building inspectors. Does it affect this project given the proximity to the same?
Appreciate your feedback. To my knowledge, the current rental prices stand at Ksh. 27,000 to Ksh 30,000 for the 3 bedroom units and Ksh. 22,000 to Ksh. 25,000 for the 2-bedroom units. I have a friend who is renting a 3-bedroom there, and quite a couple of people have moved there already but I wouldn't be able to give estimates. I am considering taking up a unit there, I lived at Sunset Boulevard just down the road back in 2015, but it was not the best experience back then, hearing tarmacking has been done so could be better. But I have to visit now that it is raining, the flooding used to be very terrible, but given that Greatwall Gardens is way up the hill I do not think it will be affected by similar issues. I plan on visiting this weekend, I will come back with a report. How many houses are there in total? Seems huge. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
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Should have posted this here .....in the correct thread. https://www.the-star.co....oxic-emissions_c1740915
Quote:Protesters and workers clash over London Distillers βtoxicβ emissions https://www.standardmedi...ition-of-housing-estate
Quote:London Distillers now wants the residential estate to be demolished. The distillery has written to Nema, arguing that Great Wall Gardens sits on an industrial zone and should, therefore, be brought down. βWe request Erdemann Property Ltd to demolish the said residential properties on the affected plots, failure to which we request the Director General Nema to issue demolition orders forthwith,β wrote Mohan Galot, the billionaire who owns the distillery, in the letter dated February 5, 2018 to Nema boss Geoffrey Wahungu.
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Rank: Member Joined: 11/7/2017 Posts: 186 Location: Nairobi
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So, guys buy houses opposite an existing distillery. Then later on want the distillery closed coz it's interfering with their ambience...?!
Who found who...?!
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Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
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Stiffler wrote:So, guys buy houses opposite an existing distillery. Then later on want the distillery closed coz it's interfering with their ambience...?!
Who found who...?! Others bought next to the 70yr old ruai sewerage and the 50yr old Thika leather factory and also now want the facilities closed. You'd expect they'd have done a site visit before buying.
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Rank: Member Joined: 12/1/2007 Posts: 539 Location: Nakuru
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Todays Nation, offering Greatwall 2 for 3 million. I am very interested but .... 1. What is the level of satisfaction of those in GW 1 2. Is this new property next to the Industries et al with possible issues in future? 3. Seefar is going down after a similar blitz sale back in 2013/4, is there something I am not seeing? Would appreciate advice before I sign the dotted line For investors as a whole, returns decrease as motion increases ~ WB
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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winmak wrote:Todays Nation, offering Greatwall 2 for 3 million. I am very interested but ....
1. What is the level of satisfaction of those in GW 1
2. Is this new property next to the Industries et al with possible issues in future?
3. Seefar is going down after a similar blitz sale back in 2013/4, is there something I am not seeing?
Would appreciate advice before I sign the dotted line  Pesa Nane plans to be shilingi when he grows up.
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Rank: Member Joined: 12/1/2007 Posts: 539 Location: Nakuru
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Pesa Nane wrote:winmak wrote:Todays Nation, offering Greatwall 2 for 3 million. I am very interested but ....
1. What is the level of satisfaction of those in GW 1
2. Is this new property next to the Industries et al with possible issues in future?
3. Seefar is going down after a similar blitz sale back in 2013/4, is there something I am not seeing?
Would appreciate advice before I sign the dotted line Clarification please @Pesanane For investors as a whole, returns decrease as motion increases ~ WB
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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hardwood wrote:Stiffler wrote:So, guys buy houses opposite an existing distillery. Then later on want the distillery closed coz it's interfering with their ambience...?!
Who found who...?! Others bought next to the 70yr old ruai sewerage and the 50yr old Thika leather factory and also now want the facilities closed. You'd expect they'd have done a site visit before buying. Wanaitwa wakenya... π possunt quia posse videntur
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Rank: Veteran Joined: 11/9/2009 Posts: 2,003
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maka wrote:hardwood wrote:Stiffler wrote:So, guys buy houses opposite an existing distillery. Then later on want the distillery closed coz it's interfering with their ambience...?!
Who found who...?! Others bought next to the 70yr old ruai sewerage and the 50yr old Thika leather factory and also now want the facilities closed. You'd expect they'd have done a site visit before buying. Wanaitwa wakenya... π How do those near the Ruai sewerage survive? Every time I pass by there, I can't even stand the smell where inside the car
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Rank: Chief Joined: 1/3/2007 Posts: 18,095 Location: Nairobi
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Pesa Nane wrote:winmak wrote:Todays Nation, offering Greatwall 2 for 3 million. I am very interested but ....
1. What is the level of satisfaction of those in GW 1
2. Is this new property next to the Industries et al with possible issues in future?
3. Seefar is going down after a similar blitz sale back in 2013/4, is there something I am not seeing?
Would appreciate advice before I sign the dotted line Hasn't that factory/distillery been there for years/decades in an industrial zone? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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VituVingiSana wrote:Pesa Nane wrote:winmak wrote:Todays Nation, offering Greatwall 2 for 3 million. I am very interested but ....
1. What is the level of satisfaction of those in GW 1
2. Is this new property next to the Industries et al with possible issues in future?
3. Seefar is going down after a similar blitz sale back in 2013/4, is there something I am not seeing?
Would appreciate advice before I sign the dotted line Hasn't that factory/distillery been there for years/decades in an industrial zone? The factory can be moved due to public demand. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: New-farer Joined: 9/1/2018 Posts: 19 Location: Kampala
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Latest offer winmak wrote:Todays Nation, offering Greatwall 2 for 3 million. I am very interested but ....
1. What is the level of satisfaction of those in GW 1
2. Is this new property next to the Industries et al with possible issues in future?
3. Seefar is going down after a similar blitz sale back in 2013/4, is there something I am not seeing?
Would appreciate advice before I sign the dotted line  They have some very nicely built and spacious retail spaces. I hope they offer those soon.
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Rank: Member Joined: 5/27/2016 Posts: 274 Location: Pub
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winmak wrote:Todays Nation, offering Greatwall 2 for 3 million. I am very interested but ....
1. What is the level of satisfaction of those in GW 1
2. Is this new property next to the Industries et al with possible issues in future?
3. Seefar is going down after a similar blitz sale back in 2013/4, is there something I am not seeing?
Would appreciate advice before I sign the dotted line 1. What is the level of satisfaction of those in GW 1 Greatwall really depends on what you want, 1. Do you want to invest? or 2. Do you want to live there? 1. If you want to invest: -If you have to buy make sure you get the 3M cash deal, you must also be fast so as to acquire ground, 1st or 2nd floor. Avoid 3rd, 4th, 5th because of tenants. -You will take so long to ever sell that house simply no buyers, since Mchina keeps building houses at 3M. (if you want to go in buy and cash out you will be "Slaughtered Alive" - no buyers) may be in future. - If you miss out on Ground/1st/2nd you MAY struggle getting a tenant. Tenants have lots of options, since there lots of apartments. I know of guys who don't have tenants until now. - The rent is, 27 3Bdr/ 25 2Bdr (some are offering as low as 24 3Bddr/19 2Bdr) - Basically its a struggle to get tenants if you have houses up the sky, option is to reduce rent. - Final paperwork takes long, shitty to sell those apartments - May change in future - The water-bills scare away tenants - Upcoming phases are better i.e Phs 2 has bigger kitchens, phs 3... rolls back to tenants prefering newer phases than old phases - service charge is 2k monthly Conclusion: If you investing long-term you can have a shot (issa Lock up investment), if you are after liquidity forget about it. Its a good deal if you get at 3M, get a 27K tenant who will always be in (to increase this chance target 1st floor). By the way a simple basic investment like CIC money market (10%) may give you better returns monthly. 2. If you want to live there: - I hear Waterbills are terrible, its like paying shell V-power. - The rest is fine, road network bla bla. I work so I can afford the amount of alcohol required to continue going to work
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Rank: New-farer Joined: 9/4/2018 Posts: 64 Location: Nairobi
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Ryko wrote:winmak wrote:Todays Nation, offering Greatwall 2 for 3 million. I am very interested but ....
1. What is the level of satisfaction of those in GW 1
2. Is this new property next to the Industries et al with possible issues in future?
3. Seefar is going down after a similar blitz sale back in 2013/4, is there something I am not seeing?
Would appreciate advice before I sign the dotted line 1. What is the level of satisfaction of those in GW 1 Greatwall really depends on what you want, 1. Do you want to invest? or 2. Do you want to live there? 1. If you want to invest: -If you have to buy make sure you get the 3M cash deal, you must also be fast so as to acquire ground, 1st or 2nd floor. Avoid 3rd, 4th, 5th because of tenants. -You will take so long to ever sell that house simply no buyers, since Mchina keeps building houses at 3M. (if you want to go in buy and cash out you will be "Slaughtered Alive" - no buyers) may be in future. - If you miss out on Ground/1st/2nd you MAY struggle getting a tenant. Tenants have lots of options, since there lots of apartments. I know of guys who don't have tenants until now. - The rent is, 27 3Bdr/ 25 2Bdr (some are offering as low as 24 3Bddr/19 2Bdr) - Basically its a struggle to get tenants if you have houses up the sky, option is to reduce rent. - Final paperwork takes long, shitty to sell those apartments - May change in future - The water-bills scare away tenants - Upcoming phases are better i.e Phs 2 has bigger kitchens, phs 3... rolls back to tenants prefering newer phases than old phases - service charge is 2k monthly Conclusion: If you investing long-term you can have a shot (issa Lock up investment), if you are after liquidity forget about it. Its a good deal if you get at 3M, get a 27K tenant who will always be in (to increase this chance target 1st floor). By the way a simple basic investment like CIC money market (10%) may give you better returns monthly. 2. If you want to live there: - I hear Waterbills are terrible, its like paying shell V-power. - The rest is fine, road network bla bla. Excellent insights Ryco.I also think the high-rises that the government is building under the affordable housing agenda may give you better returns.eg they're building some at old Ngara ...3bd flat at 3M.ofcourse the sq ft is really small and am sure the finishing will be basic but I think these will be easier to work with.
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