This archive report was first published on 7 October 2021.
Published on October 7, 2021, Housing Finance has reduced the selling price of Lazinos Hotel in Nairobi West to Sh. 240 million, down from a quarter billion shillings.
The decision comes after the mortgage lender failed to find an appropriate buyer for the property, despite numerous attempts since 2016.
Located in Nairobi West, the Lazinos Hotel is a four-floored commercial property with two wings, 43 self-contained guestrooms, conference halls, shops, laundry, and salon units.
Registered under Turitu Service Station, the hotel sits on 0.1791 acres of land and was earlier put up for auction in February over a debt owed to a local bank.
According to Garam Investments, the hotel has an estimated rental income of Sh. 3.5 million a month, making it an attractive investment opportunity.
