Garden City Mall to Expand Under UK Based Property Manager
By Jacquiline Wahu
Knight Frank Kenya has won the contract as the new property manager of Garden City Mall after a previous agreement with a South African based Broll came to an end.
The real estate consultancy with its headquarters in London signed a pact to be in charge of the mall effective from March, with Actis the developer.
This Development property which intends to expand by building a business park, is Nairobi’s first fully-fledged mixed-use development with retail, residential and office space, all planned on 47 acres of land adds to 11 other malls being managed by Knight Frank Kenya.
Other malls under their management in Nairobi include; T-Mall, Ridgeways Mall, Capital Centre, The Junction Mall, Rosslyn Riviera Mall, Lunga Lunga Square, Signature Mall and Diamond Plaza II. They also manage other malls in other counties.
“As Kenya’s first mixed-use development, Garden City has premium retail and office space available for lease and residential units for sale or lease, so Knight Frank has just the management and marketing expertise that we are looking for. We are excited to have Knight Frank Kenya coming on board to join the Garden City team and are looking forward to a busy year ahead,” said Garden City Development, Chris Coulson.
The real estate consultancy prides itself in the experience of managing other major shopping joints across the country through leasing and management for the past two decades. Over the period it has brought on board major international retail brands into the Kenyan market, latest being Shoprite which is projected to take up the anchor’s space in the Mall by August 2018.
To express their excitement, the managing director Ben Woodhams said that the deal is a key milestone for Knight Frank Kenya as they celebrate their 20th anniversary. “This It brings our long-standing relationship with Actis full cycle as we were the lead letting agents for the mall and have worked on other developments together since early 2000s.” He added.
Knight Frank is also the letting agent for the business park and sales agent for residential at Garden City.
The first phase of the business park will have 125,000 sq ft—60% of which is already leased, while two subsequent office blocks will deliver a further 125,000 sq ft. Garden City residential currently has 215 units of townhouses and apartments, with a further 400 units planned. Future plans in the development include a hotel, medical facility and other complimentary commercial uses.
Knight Frank LLP is the leading independent global property consultancy. The Group advises clients ranging from individual owners and buyers to major developers, investors and corporate tenants.
Source: Knight Frank