A multi-story building that houses the Jubilee Party’s headquarters has been put up for auction, according to an advertisement in the Daily Nation. The auction is being conducted by Garam Investments Auctioneers.
The auction will take place at their offices in Westlands, Nairobi County on Tuesday, September 13, 2022.
The land parcel where the building sits, reference number 209/1530-Emani Business Center, is registered under Farmers Industry Limited and Ms Florence Wairimu Mbugua.
“All that parcel of land known as LR no 209/1530 Emani Business Centre along Thika Road, Pangani area registered under Farmer Industry Limited, with a plinth area of 34, 000 square feet,” part of the auctioneer’s advertisement reads.
Before being permitted to place a bid, bidders must present a deposit of Ksh5 million in cash or a banker’s check.
Read: Defaulters Of Safaricom’s Interest-free Faraja Loans To Face Auction
The auction could be as a result of distress for rent, a court order, sometimes known as a writ of attachment, or realization of property, as in the event of a mortgage company or a bank retrieving their money.
According to the Auctioneers Act, complaints must be made within a year of the incident. According to the Act, an auctioneer is prohibited from acting dishonestly, immorally, violently, or maliciously when carrying out a request to attach property. In a similar vein, it is the auctioneer’s responsibility to have the property valued to safeguard the owner’s interests.
The debtor may object to the auction if there is no valuation. The requirements protect the debtor’s interests, and those who are familiar with them can ask to halt the auction if they can show that a violation of the provisions was made.
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