Nairobi, Kenya

The property was acquired 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 December 2021): US$24.4 million
Acquisition Date: Wednesday, 16 August 2017
Land Title: Leasehold
GLA1: 13 702 m²

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

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