Cytonn Investments analysts say the town’s renovated and upcoming buildings are attracting higher occupancy and people are willing to pay for the facilities.
A real estate firm eyeing Nyeri says the town lacks grade A or B offices with most of the them being in bad state of repair, which presents commercial property investors with an opportunity.
Cytonn Investments analysts say the town’s renovated and upcoming buildings are attracting higher occupancy and people are willing to pay for the facilities.
A study by the firm, targeting to invest billions in the region, shows its commercial office has an average yield rate of 13 per cent per square feet at Sh71 and exit cost of about Sh5,000 per square feet and an average occupancy of 83 per cent.
“We have a positive outlook for the Nyeri real estate market driven by the emerging housing demand, devolution, positive demographics and improved infrastructural development,” the investment firm said.
“Our preferred investment areas are commercial properties — mixed-use development, site and service schemes and in the holiday homes sector.”
