The Rosslyn Riviera Mall Offers Rent Relief for Potential Tenants
The Rosslyn Riviera Mall that is located at Runda estate has announced that it is offering free space for retailers. This follows attempts by the upscale mall to attract businesses, a situation that has continuously hurt the property.
The mall’s management, Knight Frank Kenya, released a statement revealing its free space offer that will run for six months after which, it will give tenants an additional 50 percent discount on rents.
“The discount is available to retailers who will sign up within the short window, with a view to enriching Rosslyn Riviera Mall’s tenant-mix and shopper experience,” said Ashmi Shah who is the retail portfolio manager at Knight Frank Kenya
The mall was launched early last year to offer services to residents living in Nairobi’s upmarket estates like Muthaiga, Runda, Rosslyn, Ruaka and Gigiri estates. The Rosslyn Riviera managers had hoped the mall would be after the launch considering the opportunities that were there then. However, despite its location, size, concept, convenience, and accessibility, the Sh2.7 billion shopping mall that sits adjacent to Two Rivers Mall and Village Market, has failed to attract business. This is the reason the management has offered to come with such incentives like rent discounts and free space occupation.
The property that sits on a 4.5-acre parcel of land charges tenants a monthly rent of between h180 and Sh275 per square feet. Currently, its anchor tenant is the Chandarana Supermarket; however, it also houses Java House, Newscafe and Nairobi Hospital among others.
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