Jubilee House is up for auction – VIDEO
Jubilee Party House which is located in the Pangani area is up for auction.
The building which houses offices associated with Jubilee Party whose leader is President Uhuru Kenyatta are accommodated is being auctioned by Garam Investments Auctioneers.
“Under instructions received from the charge’s advocates, we shall sell by public auction the under-mentioned properties with improvements and buildings erected there in,” an advertisement on Daily Nation page 37 read in part.
The auctioneering process will take place on Tuesday, September 13, at their offices located in Westlands, Nairobi County.
The parcel of land known as L.R number 209/1530- Emani Business Center along Thika Road, Pangani Area in Nairobi County and is registered under the names of Farmers Industry Limited and Ms Florence Wairimu Mbugua.
“It lies along the North Western election of Thika Road, 10 meters from the Pangani flyover. The property measures 0.5 acres,” the advertisement further read.
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Adding that the title is a leasehold for 99 years. It is erected on a plot and is a seven-storey commercial complex with two basement floors and a penthouse on the rooftop, a sentry house and a powerhouse.
The advertisement further reads that bidders are required to give Sh5 million by way of cash or a banker’s cheque.
The Auctioneers Act provides that complaints be filed within a year after an incident occurs.
According to the Act, while in pursuit of a directive to attach property, an auctioneer should not exercise dishonesty, immorality, violence and malicious damage.
Similarly, it is the duty of the auctioneer to have the property valued in order to protect the interest of the owner.
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When valuation is not done, the debtor can object to the auction.
The provisions cater for the interest of the debtor and those familiar with the provision can move to stop the auction if they can prove that an offence was committed.
Where the property being attached does not belong to the debtor, the real owner can use the courts to stop the auction on proving ownership.
The auction process is classified into three main categories; distress for rent, a court judgment also referred to as a warrant of attachment and realisation of property like in the case of a mortgage company or a bank recovering their money.
A 14-day proclamation notice is given in the case of distress for rent, seven days for a warrant of attachment and 60 days when handling immovable property like land and buildings.
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