|Location||Savannah Road, Donholm, Nairobi|
Greenspan Mall is a modern decentralized mixed-use development, situated on 3.8 hectares (9.5 acres), within the middle-income area of Donholm approximately 12 km to the east of the Nairobi CBD. The development comprises a retail centre with a Gross Lettable Area (GLA) of approximately 16,105 m² (155,477 sq. Ft.) with 1,000 parking spaces. The mall which opened in 2012 has a good mix of local and national tenants.
The property is registered as L.R. No. Nairobi/Block 82/8759 (F1, F2, F3, F4 & F5).
It is held as leasehold interest for a term of 99 years less 7 days, with lease commencement date 1 September 2007 at peppercorn rent, if demanded. As at 30th June 2023, the property has an unexpired leasehold term of 84 years. The mall has a parking ratio in excess of 4 bays per 100 m² of GLA, has a captive middle market within the larger Greenspan Estate.
The property presents an ideal location with potential to improve the returns through development of excess land and reconfiguration of the mall/ tenant mix. Anchored by Naivas who occupy 37% of the GLA, the mall offers fast food restaurants and bars, as well as various service-related tenants such as banks, cinema, wellness centres, salons and small non-branded fashion and apparel component.
|Escalation Rates||Average 7.5% p.a.|
|Lettable Space (Square Foot)||155,477|