Real estate management firm Knight Frank is the new property manager of the Garden City Mall following the expiry of the agreement the shopping complex had signed with the South African-based property firm, Broll.
The signing of the new agreement on March 16 brings the total number of malls under the management of Knight Frank to 12 including The Junction, Mtwapa Mall and Oasis Mall in Malindi with a cumulative 1.9 million square feet of retail space.
UK-based private equity firm Actis is the developer of the 47 acre Garden City Mall, a mixed-use development that features retail, residential and office space.
“This is a major milestone for Knight Frank Kenya as we are celebrating our 20th anniversary this year. It brings our long-standing relationship with Actis full cycle as we were the lead letting agents for the mall and have worked on other developments together since early 2000s,” said managing director at Knight Frank Kenya, Ben Woodhams.
Garden City has a gross lettable area of 375,000 square feet and boasts an occupancy of over 90 per cent particularly after South Africa’s retailer Shoprite took up the anchor tenant’s space. Shoprite is set to open shop in August.
Knight Frank is banking on its 20 years of experience in the real estate property market to boost traffic to the mall.