Developer warns against purchasing units on auction list

A real estate developer has warned against purchasing units/apartments that were auctioned on May 6, 2024 by KCB Bank through Garam Investments Auctioneers.

In a notice published by the Daily Nation on May 8, Erdemann Property Limited listed 99 two- and three-bedroom apartments and advised that they were completely sold.

Greatwall Gardens Phase I apartments are located on Shanghai Road, off Mombasa Road, in the Athi River area of ​​Machakos.

“Erdemann Property Limited wishes to notify/advise any prospective purchaser of the units/apartments that the mentioned units/apartments have been sold in their entirety to purchasers who have lawfully occupied them,” the notice reads.

The developer added that the units are subject to several ongoing court cases, including two in the Nairobi High Court, one in the Nairobi Court of Appeal, one in the Machakos High Court and three in the Mavoko Chief Magistrates Court. .

“Therefore, the EPL advises any prospective purchaser of the said apartments that any person purchasing the said apartments shall do so at their own risk and subject to the judicial outcome of the aforementioned cases,” it stated.

Erdemann further reported that any purported sale of the said apartments pending court cases is illegal, unlawful and fraudulent.

In its auction announcement, Garam Investments Auctioneers said the sale would take place at its offices in Western Heights, Westlands, on May 21.

It had listed about 78 two-bedroom units and some cost Sh3.8 million and another 3.9 million shillings each.

KCB Bank is reviewing the apartments due to a loan the developers granted in 2015.