A multi-million-shilling residential property belonging to Kenyan billionaire businessman Paul Wanderi Ndung’u has been put up for auction.
The four-bedroom double-storey house in Gigiri, near the United Nations offices, sits on 2.8 acres and consists of the house, a single-storey servant’s quarter block, an external kitchen, and a carport.
“All that parcel of land known as L.R. No. 7258/52 (I.R. No.22387) Gigiri Estate, Nairobi City registered in the name of Paul Wanderi Ndung’u g/t Simba Fresh Produce Limited,” reads the notice for auction by Garam Auctioneers.
The auction will be held on March 21st.
In addition, three adjacent commercial farms in Solio Ranch, Laikipia, linked to Simba Fresh Produce Limited, the company co-listed with Ndung’u in Gigiri, have been put up for sale on March 24th.
“All those parcels of land known as L.R. Nos. 11571/42 (I.R. 113227/8); 11571/43 (I.R. 113227/9), and 11571/44 (I.R. 113227/10) Simba Fresh Produce Farm, Solio Ranch, Laikipia County registered in the name of Homes and Commercial Holdings Limited g/t Simba Fresh Produce Limited,” the notice adds.
The 600-acre farm is under cultivation with fresh vegetables, avocados, sorghum and fodder grass.
The ranch has an administration block and pack house, permanent store – inputs, workers’ quarters, semi-permanent store, garage shed, filed ablution blocks, and animal closures. Other infrastructures include boreholes, pump houses, solar panels stand, water towers, field holding sheds, and two dams.
It is not clear which bank has put the billionaire’s property up for sale.
Ndung’u has been fighting for his stake in betting company Sportpesa after he was expelled as a shareholder of Pevans East Africa at zero compensation for his 17 percent stake for non-payment.
Looks like he bite off more…
Looks like he bite off more than he can chew, and the entire empire built on sand is crumbling!!!