Buffalo Mall (50% share)

Buffalo Mall was developed to fulfil an increased demand for formal retail in nodes outside of Nairobi. Naivasha is a rapidly growing town situated on the shores of Lake Naivasha, and is located 76 km from Nairobi and 63 km from Nakuru.

Buffalo Mall is the first modern, formal retail development in Naivasha and caters to a catchment market of shoppers who travel to the town on weekends, as well as those traveling to further towns in the Rift Valley and Western Kenya. In addition, it will capitalise on Naivasha’s increasing popularity as a conference tourism destination, popular with business people, politicians and families.

Buffalo Mall is an early stage mall with phase one trading since 2015. The mall will expand to three phases over time, driven by tenant demand and trading densities.

Location

Naivasha, Kenya

Anchor Tenant

Tuskys

Sector

Retail

Land Title

Leasehold

GLA

6 616 m²

Parking Bays

250

Vacancy

5.8%

Valuation (as of June 2017)

US$15.0 million (for 100% of asset)

Transfer Date

May 2016

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