Non-bank financial services provider Sanlam Kenya has put up for sale the landmark Sanlam House, its Nairobi headquarters, with potential buyers asked to shell out Sh 460 million.
Sanlam Kenya plans to vacate Sanlam House in coming months. The firm will be moving to the its almost complete 18 storey Sanlam Tower building in Westlands, Nairobi.
Jones Lang LaSalle (JLL) Kenya Limited, a firm that specialises in commercial real estate and investment management services has been hired by Sanlam to secure a buyer for the iconic Sanlam House, along Nairobi’s Kenyatta Avenue.
Speaking when he confirmed the consultants’ appointments, Sanlam Kenya Group CEO, Mr. Mugo Kibati said that the firm has also retained Ms Knight Frank, Cushman & Wakefield and Axis Real Estate as the letting agents for the 18-storey Sanlam Towers building in Westlands.
“We are embarking on a global concerted effort to offload Sanlam House from our portfolio and while at it accelerating efforts to retain discerning tenants at Sanlam Towers.” Kibati said.
Formerly known as Pan Africa Insurance Holdings, Sanlam Kenya has occupied the landmark Sanlam House for over six decades. The building along Kenyatta avenue was one of the pioneer business and office blocks in the city’s business district in the precolonial era.
According to a prospectus by JLL Kenya, Sanlam House is has a diverse tenant base, with approximately 42% of the property offering retail, while the balance is leased to office tenants.
