Kenya: Parkview Puts Westlands Property On Sale for Sh600mn

What the report says

Parkview Shopping Arcade Limited has listed a 1.695-acre parcel in Nairobi’s Westlands area for sale at a reserve price of Sh600 million, according to Capital FM, which AllAfrica distributed. The property is at the junction of Peponi Road and Mwanzi Road, opposite Westgate Shopping Mall, and is identified as LR No. 209/12174. Parkview has named Scraj Homes Limited as the exclusive agent to market the land, arrange viewings, negotiate with buyers and handle documentation.

The sale is being pursued subject to the clearing of a charge held by UBA Bank, which secures a loan facility extended to Nakumatt Holdings Limited. Parkview said in a mandate letter dated September 7, 2026, that it wants to sell to any willing buyer at the stated reserve price. The agency appointment is set to last 90 days unless ended earlier in writing.

The property has a history of legal dispute involving Parkview, Nakumatt Holdings and UBA Kenya Bank. Capital FM reported that a 2022 High Court ruling in Nairobi recognized Parkview as the owner of the land. The earlier dispute stemmed from loan facilities advanced by UBA to Nakumatt, with Parkview linked to the financing through a corporate guarantee and a charge over the property. The new sale effort matters because it could resolve a long-running ownership and security issue tied to a prominent Nairobi commercial location.