Commercial Property for Sale in Watamu

BUILDING OF BUNGALOWS IN A GATED COMMUNUTY IN WATAMU - KENYA
A land owner is looking for an investor to partner with in a joint venture in Watamu, Kenya
The project is close to the coastal Beach of Watamu in Kenya
PROPOSAL & PROJECT SUMMARY
The land area is one-acre. The project will be undertaken in three phases
Phase 1
• Two houses to be built
• An initial investment of kes 10M (equivalent to the land cost)
• Kes 8M will be used to construct two bungalows at a cost of kes 4M per home
• Kes 2M will be used for the boundary wall around the one-acre plot
• Each home is 152sqm

Phase 2
• Four more houses built
• Sales proceeds of the two built houses at Kes 8.5m each will be used to construct 4 more houses (in phase 2)
• The 4 houses in phase 2 will be sold (at approximately Kes 34M) and the investor will be refunded his initial capital of 10m (plus 10m Profit)
• Each home is 152sqm

Phase 3
• The balance of 14m will be used to construct 2 more houses for the landowner (under the JV agreement) and a swimming pool
*Kindly note availability and prices are subject to variation as well as owner’s discretion
*Advertised prices are as advised by the owner at the time of advertising this advert Read more...