A section of the Mirage building and Next Gen shopping center up for auction

In a notice published in local dailies on Monday, November 22, Garam Investments announced that the auction was scheduled for December 14, 2021.

The section of the property in question was described as the executive office complex on the top floor of tower two within the Mirage.

The Mirage consists of multi-story commercial buildings along Waiyaki Way, near Villa Rosa Kempinski.

The title is a 50-year leasehold interest with effect from 1996 at an annual rent of peppercorns.

When rent is shown as Peppercorn it means that no rent is payable although the property is on lease.

Bidders will be required to produce a bid deposit of Sh1 million in cash or bank check before being allowed to bid.

The auctioneer also announced that a section of the Nextgen shopping center along Mombasa Road will also be hammered.

The property is also registered in the name of Cresta Investments Ltd.

The section that is being auctioned has been described as Pent Office (Unit C) on the first floor of Nextgen Mall.

According to the notice, the office has rental income of Sh360,000 per month.

The unit had been auctioned in 2020, but it appears that no buyer has yet been able to acquire it.

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