Commercial business premises have become a hot-cake in the property market in Nairobi and leading urban towns.
The allure of ultra-modern offices in up-market business addresses like Nairobi’s Upper-hill, Westlands, Kilimani, Ngong Road, Mombasa Road and some locations in the ever busy Central Business District has remained attractive to many businesses.
Increased growth and commercial might has also seen an increasing trend where businesses are not only buying, but established brands are building own premises with state-of-the art facilities and Wi-Fi connectivity. This transformed best speaks of the executive nature that doing business is leaning towards in Kenya, as it has put local-owned businesses at a globally competitive platform.
The reality is that choosing to buy or build own business premises is a big commitment for any business — big and small, but on the plus side, owned business premises is a good investment and a long-term asset that will potentially increase in value. It pays dividends to first gauge on whether it might be better to operate from rented premises or to buy.
There are benefits and drawbacks to both. Some businesses operate in an industry that makes the ability to change location quickly and easily an important factor.
To others, the line of business could be historically linked to a specific location that renders the ability to relocate unlikely.