A-grade buildings in Nairobi have an average of 2.2 parking bays per 100 metres square whereas B-grade buildings have an average of 1.5 parking bays per 100 metres square. Most of the A-grade office space is located in Westlands and Upper Hill.
Innovative approach to leasing
- Negotiate for revenue share rent as opposed to the typical rental rate based on space occupied,
- Negotiate for extended fit out periods beyond the standard three months.
- Landlords are accepting progressive escalation rates instead of the usual fixed rate of up to 7.5 per cent annually.
- Some landlords are now also accepting security deposits of a combination of two months’ rent as a bank guarantee and one month’s rent in cash unlike the traditional three months’ rent cash security deposit.