Warehouse solutions provider and operator Africa Logistic Properties (ALP) is constructing its second complex at Tilisi in Kiambu County. It will be completed in October.
Chief executive Richard Hough said the development was informed by commitments for 55 percent space uptake from five clients in sectors such as ICT, food and beverage, logistics and from the fast moving consumer goods.
“A multinational third party logistics provider has shown interest for approximately 538,100sqft (5,000sqm) in second phase of ALP-West (Tilisi). We expect demand to ramp up significantly toward the completion date of phase one in October 2020.
The company, which raised Sh6 billion via sale of equity for its Kenya warehousing business entry and a further Sh2.65 billion via debt three years ago, said Tilisi’s Phase One development will stand on 10 acres with future developments on their remaining 39 acres set for implementation based on demand.
Mr Hough said the development, known as The Courtyard, and measuring 86,100squre feet will be available for leasing starting at a minimum space of 5,300 square feet (500sqm).
“This is a small to medium enterprises (SME’s) park that gives small but growing light industries an affordable modern facility. Phase Two will comprise quality international standard grade-A warehouse facilities similar to completed warehouses within ALP in Ruiru that measure 215,200 square feet,” he said.
Mr Hough said their second investment was informed by success witnessed in their Ruiru property that is now 74 percent full with the main tenants including Freight Forwarders (part of the Freight Forwarders Group), virtual marketplace operator Copia and Italian multinational group construction products maker and supplier, Mapei S.p.A.
PAYE Tax Calculator
Note: The results are not exact but very close to the actual.
