Wazua
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Fair price for 1 Acre Lavington
Rank: New-farer Joined: 1/16/2012 Posts: 56
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Hi Wazuans. What do you guys think should be a fair purchase price for 1 acre lavington property with approved plans for 60 apts? Is 250m kosher or way too much on the higher side? Please recommend away your tentative indicate purchase price for such a plot? Thanks in advance guys and pleasant easter. Cheers
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Rank: Member Joined: 3/20/2009 Posts: 348
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Buy a hse that sits on some land for a lower price and do the change of use to commercial yourself.will save you a good amount
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Rank: Elder Joined: 5/27/2008 Posts: 3,760
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Which Lavington? There's Lavington (Mzima Springs Road) and Lavington (Naivasha Road)
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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Tgoldman wrote:1 Acre Leavington Gordon Gekko wrote:Which Lavington? There's Lavington (Mzima Springs Road) and Lavington (Naivasha Road) He did'nt say Lavington! Read header.  Pesa Nane plans to be shilingi when he grows up.
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Rank: New-farer Joined: 1/16/2012 Posts: 56
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The land is near braeburn school.
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Rank: Elder Joined: 4/30/2008 Posts: 6,029
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Tgoldman wrote:Hi Wazuans. What do you guys think should be a fair purchase price for 1 acre lavington property with approved plans for 60 apts? Is 250m kosher or way too much on the higher side? Please recommend away your tentative indicate purchase price for such a plot? Thanks in advance guys and pleasant easter. Cheers Kweli you have money.With your money engage a valuer.
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Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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Tgoldman wrote:Hi Wazuans. What do you guys think should be a fair purchase price for 1 acre lavington property with approved plans for 60 apts? Is 250m kosher or way too much on the higher side? Please recommend away your tentative indicate purchase price for such a plot? Thanks in advance guys and pleasant easter. Cheers Believe me on this one. Wazua is the wrong place to seek such advice. Huku ni kwa ma-hustlers... If you want to know about Mlolongolike places maybe unawezasaidika.
BBI will solve it :)
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Rank: Elder Joined: 11/27/2007 Posts: 3,604
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Lavington Green. an acre going for 60-90 million depending on the location African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
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Rank: Elder Joined: 2/26/2008 Posts: 4,449
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Tgoldman wrote:Hi Wazuans. What do you guys think should be a fair purchase price for 1 acre lavington property with approved plans for 60 apts? Is 250m kosher or way too much on the higher side? Please recommend away your tentative indicate purchase price for such a plot? Thanks in advance guys and pleasant easter. Cheers Depending on proximity to the road and contextual development, an acre in Westlands, Lavington and Kileleshwa were ranging from Ksh 250m - 330m. It can be cheaper or more expensive depending on the competing buyer interest, number of brokers and mode of payment.
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Rank: Elder Joined: 2/26/2008 Posts: 4,449
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Knight Frank (credible) were involved with this one. Kabarsiran Gardens in Lavington. 1.16 acres for KES139,000,000 - http://search.knightfrank.com/kekn006281
Pay a property valuer and only sell for what it's worth MINIMUM.
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Rank: Veteran Joined: 1/4/2010 Posts: 1,668 Location: nairobi
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there are several ways to know the value of property. The most used method in kenya is the comparison method whereby the property is valued in comparison to a recent sale. I use a different method whereby i check the maximum allowable development plus the maximum rent achieveable plus the maximum occupancy rate then i work out the cost of such a development and give the land value to be 20% of such cost. if land value is less than 20%, then the land is a good buy. If land value is higher, then its over priced. In your case, assuminng 60 apartments will cost 60 x 150m2 x kes 40,000 per m2 =kes 360m. 20% of 360m =72m. this should be the cost of the land assuming only 60 apartments can be put up. As Iron Sharpens Iron, So one Man Sharpens Another.
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Rank: Member Joined: 7/1/2008 Posts: 323
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Tgoldman wrote:Hi Wazuans. What do you guys think should be a fair purchase price for 1 acre lavington property with approved plans for 60 apts? Is 250m kosher or way too much on the higher side? Please recommend away your tentative indicate purchase price for such a plot? Thanks in advance guys and pleasant easter. Cheers First it would be to look alternatives out there before you invest your money. 250 meter is not something to be sneezed at. secondly what are you hoping to achieve in the long run?? i noticed you are buying idle land and plans for 250 m with no incoming income? well what are the alternatives? well my humble opinion is this; what would i do with 250m if i was risk averse?1. invest in a 10 year treasury bonds and sit pretty for the next 10 years i.e 250,000,000 x 10%(bare minimum interest less the withholding tax) = 25,000,000 per year or 2,083,33 or month or; split between the three month treasury bills just in case i find something more attractive along the way and treasury bonds 2. buy a plot in a fast growing highly populated middle income residential area e.g kitengela kasarani, utawala and build flats. why? land is way cheaper, the demand is ever present and; the rate of return is higher example: buy land in Thome where approximate cost of land is 20,000,000 for an 1/2 acre. This is an attractive option for you. it has brand name in it you can put up 60 - 2 bed roomed apartments at approximate cost of 1,500,000 @ with good finishes. therefore costs land 20,000,000 buildings 90,000,000.00 architects at 6% 5,400,000.00 Q.s 3% 2,700,000.00 engineers 3% 2,700,000.00 govt fees (approximate 1,000,000.00 legal fees 800,000.00 total cost 122,600,000.00 income p.m 60x25000= 1,500,000.00
income p.a 12x1,500,000=18,000,000.00
percentage return per year 14.68%
return in years 6.81yearsand this still leaves you with change of kitu kshs 127,400,000 to invest elsewhere and if it were me again in treasury bills and bonds.
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Rank: Veteran Joined: 4/1/2009 Posts: 1,883
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jokes wrote:Tgoldman wrote:Hi Wazuans. What do you guys think should be a fair purchase price for 1 acre lavington property with approved plans for 60 apts? Is 250m kosher or way too much on the higher side? Please recommend away your tentative indicate purchase price for such a plot? Thanks in advance guys and pleasant easter. Cheers First it would be to look alternatives out there before you invest your money. 250 meter is not something to be sneezed at. secondly what are you hoping to achieve in the long run?? i noticed you are buying idle land and plans for 250 m with no incoming income? well what are the alternatives? well my humble opinion is this; what would i do with 250m if i was risk averse?1. invest in a 10 year treasury bonds and sit pretty for the next 10 years i.e 250,000,000 x 10%(bare minimum interest less the withholding tax) = 25,000,000 per year or 2,083,33 or month or; split between the three month treasury bills just in case i find something more attractive along the way and treasury bonds 2. buy a plot in a fast growing highly populated middle income residential area e.g kitengela kasarani, utawala and build flats. why? land is way cheaper, the demand is ever present and; the rate of return is higher example: buy land in Thome where approximate cost of land is 20,000,000 for an 1/2 acre. This is an attractive option for you. it has brand name in it you can put up 60 - 2 bed roomed apartments at approximate cost of 1,500,000 @ with good finishes. therefore costs land 20,000,000 buildings 90,000,000.00 architects at 6% 5,400,000.00 Q.s 3% 2,700,000.00 engineers 3% 2,700,000.00 govt fees (approximate 1,000,000.00 legal fees 800,000.00 total cost 122,600,000.00 income p.m 60x25000= 1,500,000.00
income p.a 12x1,500,000=18,000,000.00
percentage return per year 14.68%
return in years 6.81yearsand this still leaves you with change of kitu kshs 127,400,000 to invest elsewhere and if it were me again in treasury bills and bonds. she/he wants to know if 250m is a good price for an acre of land in lavington with approved plans for 60 apartments; not how to spend 250m. 
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Rank: Member Joined: 7/1/2008 Posts: 323
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mkenyan wrote:jokes wrote:Tgoldman wrote:Hi Wazuans. What do you guys think should be a fair purchase price for 1 acre lavington property with approved plans for 60 apts? Is 250m kosher or way too much on the higher side? Please recommend away your tentative indicate purchase price for such a plot? Thanks in advance guys and pleasant easter. Cheers First it would be to look alternatives out there before you invest your money. 250 meter is not something to be sneezed at. secondly what are you hoping to achieve in the long run?? i noticed you are buying idle land and plans for 250 m with no incoming income? well what are the alternatives? well my humble opinion is this; what would i do with 250m if i was risk averse?1. invest in a 10 year treasury bonds and sit pretty for the next 10 years i.e 250,000,000 x 10%(bare minimum interest less the withholding tax) = 25,000,000 per year or 2,083,33 or month or; split between the three month treasury bills just in case i find something more attractive along the way and treasury bonds 2. buy a plot in a fast growing highly populated middle income residential area e.g kitengela kasarani, utawala and build flats. why? land is way cheaper, the demand is ever present and; the rate of return is higher example: buy land in Thome where approximate cost of land is 20,000,000 for an 1/2 acre. This is an attractive option for you. it has brand name in it you can put up 60 - 2 bed roomed apartments at approximate cost of 1,500,000 @ with good finishes. therefore costs land 20,000,000 buildings 90,000,000.00 architects at 6% 5,400,000.00 Q.s 3% 2,700,000.00 engineers 3% 2,700,000.00 govt fees (approximate 1,000,000.00 legal fees 800,000.00 total cost 122,600,000.00 income p.m 60x25000= 1,500,000.00
income p.a 12x1,500,000=18,000,000.00
percentage return per year 14.68%
return in years 6.81yearsand this still leaves you with change of kitu kshs 127,400,000 to invest elsewhere and if it were me again in treasury bills and bonds. she/he wants to know if 250m is a good price for an acre of land in lavington with approved plans for 60 apartments; not how to spend 250m. I disagree. From my observation he/she doesn't have this kind of money and is just inquiring or; if he/she does then he/she should not be asking such a question. i opted to give he/she options by asking why invest 250m in idle land when there are other viable options? e.g......etc
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Rank: Elder Joined: 5/21/2013 Posts: 2,841 Location: Here
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jokes wrote:mkenyan wrote:jokes wrote:Tgoldman wrote:Hi Wazuans. What do you guys think should be a fair purchase price for 1 acre lavington property with approved plans for 60 apts? Is 250m kosher or way too much on the higher side? Please recommend away your tentative indicate purchase price for such a plot? Thanks in advance guys and pleasant easter. Cheers First it would be to look alternatives out there before you invest your money. 250 meter is not something to be sneezed at. secondly what are you hoping to achieve in the long run?? i noticed you are buying idle land and plans for 250 m with no incoming income? well what are the alternatives? well my humble opinion is this; what would i do with 250m if i was risk averse?1. invest in a 10 year treasury bonds and sit pretty for the next 10 years i.e 250,000,000 x 10%(bare minimum interest less the withholding tax) = 25,000,000 per year or 2,083,33 or month or; split between the three month treasury bills just in case i find something more attractive along the way and treasury bonds 2. buy a plot in a fast growing highly populated middle income residential area e.g kitengela kasarani, utawala and build flats. why? land is way cheaper, the demand is ever present and; the rate of return is higher example: buy land in Thome where approximate cost of land is 20,000,000 for an 1/2 acre. This is an attractive option for you. it has brand name in it you can put up 60 - 2 bed roomed apartments at approximate cost of 1,500,000 @ with good finishes. therefore costs land 20,000,000 buildings 90,000,000.00 architects at 6% 5,400,000.00 Q.s 3% 2,700,000.00 engineers 3% 2,700,000.00 govt fees (approximate 1,000,000.00 legal fees 800,000.00 total cost 122,600,000.00 income p.m 60x25000= 1,500,000.00
income p.a 12x1,500,000=18,000,000.00
percentage return per year 14.68%
return in years 6.81yearsand this still leaves you with change of kitu kshs 127,400,000 to invest elsewhere and if it were me again in treasury bills and bonds. she/he wants to know if 250m is a good price for an acre of land in lavington with approved plans for 60 apartments; not how to spend 250m. I disagree. From my observation he/she doesn't have this kind of money and is just inquiring or; if he/she does then he/she should not be asking such a question. i opted to give he/she options by asking why invest 250m in idle land when there are other viable options? e.g......etc Perhaps he is a seller too, no? Life is like playing a violin solo in public and learning the instrument as one goes on.
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Rank: Member Joined: 7/1/2008 Posts: 323
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Rankaz13 wrote:jokes wrote:mkenyan wrote:jokes wrote:Tgoldman wrote:Hi Wazuans. What do you guys think should be a fair purchase price for 1 acre lavington property with approved plans for 60 apts? Is 250m kosher or way too much on the higher side? Please recommend away your tentative indicate purchase price for such a plot? Thanks in advance guys and pleasant easter. Cheers First it would be to look alternatives out there before you invest your money. 250 meter is not something to be sneezed at. secondly what are you hoping to achieve in the long run?? i noticed you are buying idle land and plans for 250 m with no incoming income? well what are the alternatives? well my humble opinion is this; what would i do with 250m if i was risk averse?1. invest in a 10 year treasury bonds and sit pretty for the next 10 years i.e 250,000,000 x 10%(bare minimum interest less the withholding tax) = 25,000,000 per year or 2,083,33 or month or; split between the three month treasury bills just in case i find something more attractive along the way and treasury bonds 2. buy a plot in a fast growing highly populated middle income residential area e.g kitengela kasarani, utawala and build flats. why? land is way cheaper, the demand is ever present and; the rate of return is higher example: buy land in Thome where approximate cost of land is 20,000,000 for an 1/2 acre. This is an attractive option for you. it has brand name in it you can put up 60 - 2 bed roomed apartments at approximate cost of 1,500,000 @ with good finishes. therefore costs land 20,000,000 buildings 90,000,000.00 architects at 6% 5,400,000.00 Q.s 3% 2,700,000.00 engineers 3% 2,700,000.00 govt fees (approximate 1,000,000.00 legal fees 800,000.00 total cost 122,600,000.00 income p.m 60x25000= 1,500,000.00
income p.a 12x1,500,000=18,000,000.00
percentage return per year 14.68%
return in years 6.81yearsand this still leaves you with change of kitu kshs 127,400,000 to invest elsewhere and if it were me again in treasury bills and bonds. she/he wants to know if 250m is a good price for an acre of land in lavington with approved plans for 60 apartments; not how to spend 250m. I disagree. From my observation he/she doesn't have this kind of money and is just inquiring or; if he/she does then he/she should not be asking such a question. i opted to give he/she options by asking why invest 250m in idle land when there are other viable options? e.g......etc Perhaps he is a seller too, no? maybe, me too
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