{
  "id": 7478203,
  "title": "Parkview puts Westlands property on sale for Sh600mn",
  "url": "https://urgent.news/2026/09/15/parkview-puts-westlands-property-on-sale-for-sh600mn",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-15T05:11:04.000Z",
  "source": {
    "name": "Capital Business",
    "slug": "capital-business",
    "url": "https://capitalfm.africa/parkview-puts-westlands-property-on-sale-for-sh600mn/"
  },
  "original_language": "en",
  "account": "Nairobi-based Parkview Shopping Arcade Limited has listed a 1.695-acre property in Westlands for sale, with a reserve price set at Sh600 million. Located at the intersection of Peponi Road and Mwanzi Road, the property, identified as LR No. 209/12174, spans around 6,858 square metres. Parkview has engaged Scraj Homes Limited as the sole sales agent to find potential buyers, schedule viewings, negotiate the deal, and handle the necessary paperwork. According to a letter of mandate dated September 7, 2026, the company aims to sell the property to any interested buyer at the reserve price of Sh600 million. Currently, the property is registered as collateral for a loan extended to Nakumatt Holdings Limited. The sale will proceed only after the release of this charge and the repayment of any remaining debts. The agency agreement is valid for 90 days, commencing from September 7, 2026, and can be terminated earlier by either party through written notice. This particular plot has been embroiled in a legal dispute involving Parkview, Nakumatt Holdings, and UBA Kenya Bank. In a 2022 ruling, the High Court of Nairobi confirmed Parkview as the rightful owner of LR No. 209/12174. The disagreement originated from loan facilities provided by UBA to Nakumatt, with Parkview acting as a guarantor for the debt, supported by a charge over the property.",
  "summary": "The property, located opposite Westgate Shopping Mall at the junction of Peponi Road and Mwanzi Road, is identified as LR No. 209/12174 and measures approximately 6,858 square metres.",
  "key_points": [
    "Parkview lists Westlands property for Sh600mn sale",
    "Property at Peponi Road and Mwanzi Road intersection",
    "Scraj Homes Limited handles sales process"
  ],
  "editors_take": "Parkview's decision to sell the Westlands property signals a strategic shift, likely aimed at recovering from financial entanglements with Nakumatt Holdings and UBA Kenya Bank.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}