The Tamambo Karen Blixen Coffee Garden in Nairobi, which is managed by the Tamarind Group. File
What you need to know:
Tamarind will manage properties for investors who buy suites in Osotua Tamarind Tree — a 52-room project in Naivasha; Tamarind Migaa in Kiambu, which has 80 rooms.
Tamarind Group has signed five deals to manage hotels, suites and restaurants for local investors who are putting up multi-billion shilling investments in the leisure industry. The licence and management agreements are for projects that are in various stages of completion.
They include a 152-room hotel scheduled to be constructed next to the Carnivore Restaurant from September this year.
Tamarind business development director Jonathan Seex said the value of the licensing deals and projects was shielded by confidentiality clauses. “We can say that the amount is substantive but we cannot give specific figures without the consent of our investors,” said Mr Seex.
Similar projects have, however, run into the billions. Grenadier Ltd, the holding company for Sankara, is putting up a 200-room hotel in Runda, Nairobi, for Sh1 billion.
Johannesburg-based City Lodge bought a 50 per cent stake in Fairview Hotel and Country Lodge Hotels for Sh1.2 billion in 2012.
Tamarind will manage properties for investors who buy suites in Osotua Tamarind Tree — a 52-room project in Naivasha; Tamarind Migaa in Kiambu, which has 80 rooms; the 100-room Tamarind Tree Suites (Rosslyn, Nairobi); and the 120-room Tamarind Tree Residence (Ngong Road, Nairobi).
Property management firm Broll estimates that investments in golf estates, holiday homes, retirement cottages and other leisure real estate projects outside Nairobi are also worth billions. “Current developments include Longonot Gate, Migaa, Thika Greens and Abedare Hills Golf Estate at a cost between $55 million (Sh4.8 billion) to $1.3 billion (Sh158 billion),” said Broll’s annual report of 2013/2014.
Tamarind said it will also look for opportunities in Naivasha, Kisumu, Eldoret, Kakamega, Machakos, Nakuru and Athi River.
“The group is currently looking for sites and will seek to enter into joint venture agreements with the landowners, or right out purchase of land once identified,” said Mr Seex. Corporate advisory firm Burbidge Capital has been appointed as the strategic advisor for the hotelier’s expansion plan.
“It is a very high quality Kenyan brand with an excellent performance track record and this expansion is a positive development for all stakeholders as well as the industry as a whole,” said Edward Burbidge.
Tamarind will also open Carnivore Express, a fast food joint, and a mid-market restaurant dubbed Carnivore Steakhouse.
