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134 Acres For Sale, Mitubiri near Delmonte, Thika

Kshs 5,500,000 Per Acre Neg
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134 Acres For Sale, Near Delmonte, Thika

FOR SALE ARE A 134 ACRE PARCEL THIKA TOGETHER WITH A VIABLE DEVELOPMENT /SALE PROPOSAL

We would like to take this opportunity to present a 134 acre parcel of land for sale in Thika next to Delmonte Farm

LOCATION

The farm is situated within Mitubiri Area about 14 kilometers from Blue Post/Delmonte shop. It is also accessible via Kabati interchange

PRICING

The asking price for the parcel is Kshs. 5,500,000 per acre. This totals to 737,000,000/-. The seller is taking nearer offers.

OWNERSHIP

The plot is held via leasehold interest for a term of 943 years.

OWNERSHIP

The plot is held via leasehold interest for a term of 943 years.

PARCEL DESCRIPTION

This is an expansive irregular shaped agricultural/residential parcel of red loamy soils whose boundaries are marked with a 14 strand reinforced electric wires fence. The parcel is separated by a road and power way leave into three portions. The parcel has a permanent dam frontage of about one Kilometer.

It neighbours expansive Delmonte Pineapple farms and sparse to dense human settlement on mainly 1/8th of an acre.

SUBDIVISION/DEVELOPMENT PROPOSAL

Due to the favorable location and physical features of the parcel. We proposed a combined development with the following uses:- • Luxury development residential plots • Residential plots • Agribusiness/Greenhouse Farming plots • Commercial use plots • Recreational use plots

(I). Luxury Development Plots

The parcel has a dam frontage of about 1 Kilometer which makes its suitable for development of resort and luxury villas each on a quarter or half of an acre. The dam provides beautiful and relaxing scenery especially during hot and dry seasons.

(Ii). Residential Use Plots

The serenity and the characteristics of the expansive parcel makes it suitable for residential development. We proposed sub-division of part of the parcel into 1/8 acre plots. A well planned residential estate will attract high number of people for immediate settlement and therefore high plot prices. 1/8 of an acre within the gated community can attract about Kshs.1,500,000/-.

(Iii). Agribusiness/Greenhouse Farming Plots

The parcel has fertile loamy soils which are suitable for farming. 1/8 of an acre within the gated community is capable of fetching about Kshs. 2 Million.

(iv). Commercial Use Plots

Provision of a shopping center near the entrance or at a central location of the parcel would cater for shopping needs (mini-market) and several shops that will provide basic goods and services for the project.

(v). Recreation Use Plots

The Dam frontage would have a resort and recreation facilities Boat riding, fishing facilities, Health facilities. Other water frontage recreational facilities would include eateries specialized shops, high end shops, and health facilities. It is a commercial concept with emphasis on luxury.

FINANCIAL PROJECTIONS

The following is the financial projection of the whole project starting with the buying price/ initial capital input. The initial input will be Ksh 5.5 million per acre for the 134 acres bringing the total cost to Ksh 737 million. We will still use the 4 pillars

. PILLAR/USER Acreage APPROX. NO. OF UNITS PRICE PER UNIT TOTAL (Without Agri-business) Total (With Agri-Business)

Luxury Development Plots

148 acres divided into 1/4 acre, Total plots=148, Sale Price per unit is 4,000,000. Totalling to Kshs. 592,000,000/-

Residential/Agri-business Use Plots

77 acres divided into into 1/8 acre plots, Total Plots=616, Price of each plot is between 1,5000,000-2,500,000/-. Total sale price sis between 924,000,000/- and 1,540,000,000/-

Commercial

1 Acre Set aside for commercial use, Acre is priced at Kshs. 20,000,000

Recreational Use Plots

4 Acre to be divided into 1 acres . 4 pieces each priced at Kshs.15,000,000 totals to Kshs. 60,000,000/-

Open Area – Roads, Schools etc is 15 Acres

Estimated margins are between Kshs.1,596,000,000 and 2,212,000,000

The cost of a greenhouse together with its installations amounts to about Kshs. 450,000/-. We there estimate that in cases where greenhouses have been installed, the margins for selling 1/8 of an acre will be higher by about Kshs. 550,000/-.

We estimate the cost of subdivision and site works which includes digging of borehole, construction of overhead water tanks, bringing of electricity to the site, construction of roads and related consultancy work to be approximately Kshs. 200,000,000/-

Therefore, we expect margins of about Kshs. 650,000,000/- at the end of the project (Without installation of Greenhouses).

NB: These rates are based on estimates derived from comparative market study in the area. However, detailed feasibility study and subdivision proposal will need to be carried out in order to come up with accurate figures.

 

City:
State/County:
Country: Kenya
Property Id : 18349
Price: Kshs 5,500,000 Per Acre Neg
Property Lot Size: 134 ft2
Category Type: Residential
International/ Local: Local
Structure Type: Brick
Floors No: 1
Area (p.s.f): 134 Acres
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