Property Acquirers Target RAJA Chambers, Several Other Prime Kampala Buildings! HAVE OWNERS FALLEN ON HARD TIMES?

Available information indicates that several Kampala commercial buildings in the CBD area are increasingly being targeted by money lenders, speculators and property acquirers, for reasons which couldn’t readily be established.

These include Indians-owned Raja Chambers located along Parliamentary Avenue. It sits on 14.5 decimals and those targeting it for acquisition are ready to part with up $3m. The commercial block right opposite the ICT Ministry has rentable space of up to 2,000 square meters and with 70% occupancy as of today. The property brings in $35,000 in monthly rent with 70% occupancy. It boasts of a parking slot that can hold 30 vehicles at a time. Those eyeing it are prepared to pay up to $4.8m or more.

There is also another property in the upscale Nakasero neighborhood, which is being targeted at $3.5m or more. It covers 1.2 acres of land located along Aki Bua Road near Minister Sam Kutesa’s home. When there, one is able to have a nice view of Kololo across the valley.

Yet that isn’t all. Another property the acquirers are menacingly looking at is a 2.3 acres’ piece of land located along MacKinnon Road on Nakasero hill and its freehold title. They are prepared to part with up to $6m or more.

There is also a storied commercial building near Nakasero market, downtown Kampala near to Hardware City. The amount those seeking to acquire it are ready to offer is $3m and whoever buys it is assured of monthly rental income of Shs55m. The land tenure is leasehold and it has 35 years remaining to the expiry of the lease. The property sits on 17 decimals. Its located along Market Square lane.

There are also people who want to buy Mukwano Courts Plot 13 Buganda Road at $9m. The monthly rent from the building is Shs225m after VAT. Its total rentable space is 4,320 square meters. First and second floors have rentable space of 775 square meters and 872 square meters respectively. 3rd floor has 477 square meters and 6th floor has 445 square meters of rentable space.

The area the commercial building covers comes to 0.227 hectares or 58 decimals. The property is registered as register volume 757, folio 23. It’s on plot 13 Buganda Road near Hotel Triangle.

Master Plaza along Bombo Road is also being sought for purchase at $4m. The monthly income is Shs119m, located directly opposite Watoto Church and neighbored by Karim Hirji’s Equatorial Mall.

It has a parking lot of 40 vehicles at a time and the owners have KCCA permission to add three additional floors on top. It currently has five floors including one dedicated for parking.