0.6712 acre plot in Kisumu, Milimani Estate

LAND FOR SALE IN KISUMU – MILIMANI ESTATE, TOM MBOYA ROAD

SITUATION:
The property is situated within Kisumu Municipality, Milimani Residential Estate along Tom Mboya Road.
Access to the property from Kisumu Town CBD is off Oginga Odinga Street to take 2nd exit at KCB Bank – Main Branch Roundabout and join Acheing’ Oneko Road for about 400 metres to turn left next to Central Bank of Kenya – Kisumu and join Awuor Otieno Road for 1 kilometre past Public Service Club upto Inuka Hospital Junction to join Tom Mboya Road for another 900 metres past Riley House to reach the subject property which is a corner plot on one’s left.

THE PLOT:
This is a regular shaped, level, murram soils plot whose boundaries are partly marked by barbed wire strands on cedar posts and partly a neighbours perimeter wall. Entrance is open to the neighbourhood.

Area:
The plot measures approximately 0.2716Ha. i.e. 0.6712 of an acre.

Tenure:
Leasehold for a term of 99 years at an annual revisable ground rent of Kshs. 320/- w.e.f 1st April, 1968. The unexpired term of the lease is 46 years or thereabouts.

SERVICES:
This is a corner plot with 2 immediate accesses. The main one (Tom Mboya Road) is tarmacked while the service road is cabro paved.
Mains electricity, piped water and sewer are available for connection within close proximity.
Safaricom fibre cable underground installation lies next to the property.

GENERAL REMARKS:

• This is a prime residential property located less than 2 kilometres to the south of Kisumu CBD and within Kisumu Town’s Milimani Estate.
• It’s NOT an ancestral property to the registered proprietor.
• It’s NOT a matrimonial home.
• The neighbourhood is characterized by a mixture of multi-dwelling residential units including Lake Breeze Apartments, Vittoria Suites, Lake View Towers, Rehema Apartments and gated communities including United Oasis, Tiana Court Premier, Sango Court, Victoria Court, several single-dwelling units some of which accommodate N.G.Os like UNICEF, New Life Home Trust, FACES (Family AIDS Centre & Education Services), Kenya Red Cross Society, Plan Kenya-Kisumu, Kijani Testing among others
• The property is legal, transferable and saleable.
• Exclusivity, availability of infrastructure and services, proximity to Kisumu Town Centre, competitive rental levels and ease of access are some of the key factors influencing property demand in this area. It has in-turn led to competitive land and rent prices.
• The property is within an active sub-market, making it saleable in the event of realization hence viable collateral.
• It is not land earmarked for road reserve/expansion and is not on a wet land/riparian zone.
• There is no significant development or change of user potential in the locality or adjoining sites that would materially affect the valuation of the property.