Naivasha, Kenya

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.

Property Details

Sector Icon - Retail

Buffalo Mall

Retail Sector 
50% Ownership
Location:Naivasha, Kenya
Anchor Tenant:Tuskys
Acquisition Price:US$4.3 million
Valuation1 (as at Dec 2019):US$13.7 million
Acquisition Date:Saturday, 30 April 2016
WALE – GLA:7.98
WALE – Income:6.05
Land Title:Leasehold
GLA1:6 158 m²
EPRA Vacancy:2.6%
Parking Bays:200
EPRA NIY:5.0%

Value presented proportional to ownership interest held, 100% GLA reported

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