Big Malls with Empty Halls
Since Nakuru was granted city status there has been increased construction activity within the city’s Central Business District which has witnessed development of high rise ultramodern commercial buildings.
However, fears of low return on investments has been a concern for the property developers who have been struggling to get clients to occupy the shopping malls.
Some of the new malls in the city have taken years to get tenants to occupy the spaces to a point that filling half of the spaces has become a struggle.
Among them is Tower one, one of the tallest buildings at the heart of the CBD, which has at least two floors with no single client.
Jennifer Riria hub which is a state of the art facility has on the other hand employed all kinds of marketing strategies in a bid to get more clients but is still struggling with empty spaces.
The Golden Life Mall, the newest in town, has not been spared either. After struggling to get half of its spaces occupied it suffered a major setback recently when one of its major tenants Eagles Nest Lounge and Grill closed its doors.
Property agent Thomas Ngotho of Ngotho Commercial agencies attributed the status quo to low business brought about by lack of planning by the government.
Mr. Ngotho argued that the government has allowed development of stalls within the city center which are competing with the malls in the business.
“There are so many stalls within the CBD, some which are right at the entrance of the said malls dealing with the same products that are found in the malls. This disadvantages the tenants in the malls who are paying huge rents but get their customers hijacked,” said Mr Ngotho.
He further regretted that the return of matatu operations to the city centre has also disrupted the free flow of traffic by causing much congestion.
According to the agent, the congestion brings about an unfriendly working environment which has forced offices to relocate to the estates.