Nairobi, Kenya

In November 2016 Grit announced that it has entered into negotiations to acquire a 13 560m² distribution facility in Nairobi, Kenya from Imperial Health Sciences Kenya Limited (“Imperial Health Sciences”) on a sale and leaseback basis, secured by a renewable 10-year triple net lease underwritten by Imperial Holdings Limited for the duration of the lease term.

In addition, Grit acquired a 20 220m² vacant plot of land adjacent to the distribution facility for a purchase consideration of US$2 996 000.

The distribution facility comprises pharmaceutical pallet locations, as well as consumer and cold-chain pallet locations and was originally custom-developed for Imperial Health Sciences.

Property Details

Sector Icon - Light Industrial

Imperial Warehouse

Light Industrial Sector 
100% Ownership
Location:Nairobi, Kenya
Anchor Tenant:Imperial Health Sciences
Acquisition Price:US$21.0 million
Valuation1 (as at 31 Dec 2020):US$25.0 million
Acquisition Date:Wednesday, 16 August 2017
WALE – GLA:6.62
WALE – Income:6.62
Land Title:Leasehold
GLA1:13 702 m²
EPRA Vacancy:0.0%
EPRA NIY:7.20%

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

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