Purple Dot International Limited, a growing and dynamic residential and commercial real estate developer in Kenya has broken ground for its Graylands phase 4 project, a signature development of warehouses, after the successful completion and selling out of its phase 3 development.
The project will consist of 36 units, each 8000 SqFt retailing at KES19.5 million with a projection of an annual rental income yield of 20%.
Located in Athi River, Graylands Phase 4 is an exclusive development, boasting of a much wider 36 metre common area loading and off loading zone that offers ample space around each unit for easy turning of heavy-duty vehicles and offers a great advantage for distribution and assembly products.
The ground breaking of phase 4 follows the successful completion of Graylands phase 3 in March 2020 that commenced in November 2018. The phase 3 project was 100% sold off-plan with ready tenants during the official opening with those who invested in the project receiving at least KES180,000 in monthly rental income, as well as attractive annual capital appreciation as seen from previous projects.
“Athi River has proved to be a perfect location for the godowns as it not only has good infrastructure in terms of good road network and electricity, but also has the good will of the county government that has in the recent past been aggressive in attracting investors to set up businesses in the region, “said Purple Dot’s Managing Director Pravin Pindoriya.
The choice of Athi River as the ideal location is as a move to invest away from the decongested Industrial Area in Nairobi county that has seen many industries and warehouses set up business there.
“We are always looking at giving our investors the best investment opportunities, and we are glad that Graylands has proven to be a great investment choice for our customers. Similar to phase 3, that was built with light industrial, distribution and storage use of tenants in mind, phase 4 promises to be better and to offer even stronger returns,” said Purple Dot’s General Manager Jiten Kerai.
The warehouses will be equipped with common area generator and space for each unit, together with ample parking space, water connection from boreholes and the county council coupled with high capacity water tanks. The security of the development is also top notch with installation of an electric fence with razor wire, a CCTV surveillance and 24hour security patrol.