Narok Narok ( Rift Valley, KE - 352445)

KES33,350,000 KES

Nairobi Real Estates Limited

Nairobi Real Estates Limited Nairobi Real Estates Limited 0715212800 (Office) Request More Info

  • Type: Lots and Land
  • Style: Lot / Land
  • Lot Type: Rectangular
  • Lot Size: 16.67 acres

Description

Property for sale in Narok Maasai Mara. This tourist lodge opportunity sits on a 16.67 Acre piece of land is located in the Tourist development area, 3 Kilometres to the Maasai Mara gate. This property has approved change of user, approved architectural and structural drawings, ready bills of quantities, approvals by the nearby conservancy which will manage it.

The land owner is looking at 2 options detailed as below. The development is using natural stones in the Maasai mara area.

The options for the Tourist Lodge Investment opportunity

Option 1: Private financier of Kes 10m, interest 15-18%, Repayment in 5 years.

The owners are looking to raise funds to complete the development of the lodge and seeks financing phased as below. The owners are ready to offer the land and the developments of the lodge as the collateral and earnings projections are available.

The lodge will be built on a 16 acre of land, which the investor will give as a collateral valued over Kes 33m.

- A moratorium period of 1 year is sought, during which the borrower would not pay capital and interest.
- Interest rate of 15-18% per annum on the borrowed funds
- Interest to be on reducing balance
- Payment in 5 years
- Property title deeds, approvals and works to be used as the collateral
- Construction expected to run between 7 - 8 months and breakdown of financing suggested as below

Suggested borrowing per phase

1. Complete foundations - 2 months - Amt - Kes 2.5m
2. Walling - 1 month - Amt - Kes 1.5m
3. Roofing - 2 months - Amt - Kes 2m
4. Fittings - 1 month - Amt - Kes 2m
5. Finishing - 1 month - Amt - Kes 2m

Interested financiers to write for more details

Option 2: Lodge investor can purchase 16.67 acre land @ Kes 2m per acre , total - Kes 33.35m ; If later, after construction commences, the sale price will be Kes 33.35m + cost of developments

The investor can purchase the land, the approvals including NEMA at a cost of Kes 33.5m. The land owner can help in the hand holding the investor to get the lodge operational. He can also provide contractor services and hand holding to get the investor full operational at an extra cost.
P2#179913373
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Information is deemed to be correct but not guaranteed.