THE PROJECT CONSISTS OF 22 GODOWNS AS FOLLOWS:

Sizes: 2units x 5,156 sqft, 2units x 5,898 sqft, 18units x 5,102 sqft, Total sellable area is 113,944 sqft.

Project Cost (Incl. VAT)

Land, 2 acres – KES 170 million (valued at KES 200 million)

Construction  – KES 300 million (KES 70 million spent to date)

Other Costs (Legal & Professional) – KES 30 million)

Total Project Cost – KES 500 million

Total Sale Projection – KES 750 million

Profit after VAT deduction ~ KES 215 million

This is also a great investment for rental income as rental rates in the area stand at around KES 40/sqft +VAT +Service Charge yielding a net revenue of ~KES 4.55 million/month or ~KES 54.60 million/year increasing incrementally by 5% year on year, as such determining a 13% ROI.

We would be selling the company as is and transferring shareholding to the purchaser, as such the sale would not be subject to VAT. We are just looking at recouping our investment through the sale.

Selling price: KES 240 million.