REPORT AND VALUATION

UPON
A RESIDENTIAL PROPERTY
L.R NO.ELDORET MUNICIPALITY/ BLOCK
21(KINGONGO)/3691
BAHARINI LOCATION
TURBO DIVISION
UASIN GISHU COUNTY
Terms of Reference
We received instructions from The Co-operative Bank of Kenya Ltd, Eldoret West Branch, to
carry out a valuation of the above property.
The valuation is required for mortgage purposes.
The property was inspected on 5th July 2016.
We submit our report and valuation as follows:-

ELDORET MUNICIPALITY/ BLOCK 21(KINGONGO)/3691, UASIN GISHU

COUNTY
LIMITING CONDITIONS
This Valuation Report is subject to the following conditions:1)

2)
3)
4)
5)

6)
7)
8)

9)

Neither the whole nor any part of this Report and Valuation nor any reference to it may be
included in any published document, circular or statement nor published in any way
without the prior written approval of Ultimate Valuers Limited of the form or context in
which it will appear.
The responsibility of this Report and Valuation is limited to the client to whom the report is
addressed.
While due care is taken to note significant building defects in the course of inspection this
is a Report and Valuation and not a structural survey and no guarantee is given in respect of
rot, termite or pest infestation or other defects whether exposed or unexposed.
Where market values are assessed, they reflect the true market value and no account is
taken of any liability to taxation, fees or stamp duty, sale or purchase or of the costs
involved in effecting a sale or purchase.
The values assessed in this Report are for the subject property and any allocation of values
between parts of the property apply only in terms of and for the purpose of this Report. The
values assessed should not be used in conjunction with any other assessment, as they may
prove incorrect if so used.
Where it is stated in this Report that information has been supplied to Ultimate Valuers
Limited by another party this information is believed to be reliable and correct but
Ultimate Valuers Limited can accept no responsibility if this should prove not to be so.
Unless otherwise stated in this Report the values assessed are not to be used for insurance
purposes and where the values assessed are given within particular terms of reference they
should not be used outside such terms of reference.
The valuation is based on information presently available from the records in the Land
Registry and in the event that such records may be incomplete or not up to date
responsibility cannot be accepted for any resulting deficiency or inaccuracy in the
information contained herein.
The valuation does not reflect any encumbrances that may be registered against the title(s).

10) This valuation is invalid unless it is signed by a Director and bears the official Company
seal of Ultimate Valuers Limited on all the pages.

ELDORET MUNICIPALITY/ BLOCK 21(KINGONGO)/3691, UASIN GISHU

COUNTY
PHOTOGRAPHS OF THE PROPERTY

View of the single room

View of Kiosk and External ablution

Access road and the neighborhood

ELDORET MUNICIPALITY/ BLOCK 21(KINGONGO)/3691, UASIN GISHU

COUNTY

Location Map

Kitale
Bayete shop
Murram rd

Senior Daycare

Khetias
supermarket

Roadblock
trading centre

Kapkoros School
400 mts
Subject property

Madina auto
Eldo timber spares ltd
yard

Tarmac rd

Miti moja stage Eldoret

To Kahoya estate

LOCATION SKETCH PLAN

L.R.NO.ELDORET MUNICIPALITY/BLOCK 21(KINGONGO)/3691,UASIN
COUNTY
for identification purpose only, not drawn to scale

REPORT & VALUATION

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GISHU

ELDORET MUNICIPALITY/ BLOCK 21(KINGONGO)/3691, UASIN GISHU

COUNTY
L.R. NUMBER:

Eldoret Municipality/Block 21(Kingongo)/3691

SITUATION:

The property is situated within Eldoret Municipality in Senior Estate,

Baharini location, Turbo Division Uasin Gishu County. Access is via
Eldoret-Kitale-Bungoma tarmac for approximately 5KMs to North
West of Eldoret town, making a left turn West of Madina auto spares
limited for approximately 400 metres of Eldoret-Kitale tarmac road to
subject property.
(We have attached a location plan for ease of identification)

TITLE:

Freehold title registered in the name of John Ndegwa Gachuhi.

ENCUMBRANCES:

There are no encumbrances registered against the title.

(A copy of the official title search is herewith appended.

AREAS:

The plot measures 0.0505 of a hectare or 0.1247 of an acre

approximately.

SERVICES:

Main electricity is connected to the property.

Water is obtained from Eldowas.
Drainage is to a septic tank
The access road is murram surfaced.
The area is covered by cellular mobile networks.

THE PLOT:

A rectangular shaped, fairly level loam soils plot, whose boundaries is

marked by gci sheet, boundary wall to one-section and survey corner
beacons.

IMPROVEMENTS:

General Description
The plot is developed with single storey one (1xno.) single room,
Kiosk and external ablution.
Construction
Single storey house
Construction is in burnt clay bricks walling, plastered externally,
internally plastered and painted, beneath a pitched roof overlaid with
GCI sheets.
Fascia board is provided.
Floor is finished in ceramic tiles.
Main door is glazed metal plate type.
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ELDORET MUNICIPALITY/ BLOCK 21(KINGONGO)/3691, UASIN GISHU

COUNTY
Windows are glazed steel casements fully burglar proofed.
Ceiling is lined with soft board.
Accommodation
One (1xno.) Single room
GROSS AREAS:

The development measures 216 sq ft approximately.

Incomplete Kiosk
Construction is in burnt clay bricks walling, plastered externally,
internally plastered and painted, beneath a mono pitched roof overlaid
with GCI sheets.
Accommodation
One (1xno.) Kiosk
Plinth areas..81 Sq.ft approximately
External ablution
Accommodation
One (1xno.) bathroom
One (1xno.) pit latrine
Plinth areas..81 Sq.ft approximately

TENANCY:
GENERAL
REMARKS:

The property is owner-occupier.

A residential property in a middle-income estate in Municipality.
The neighborhood is characterized by similar rental units and is easily
accessible from Eldoret Town centre. The local rental property market
is experiencing an upward trend due to the economic growth in the
market.
By virtue of its close proximity to Kahoya estate, Baringo estate,
Roadblock trading centre, Khetias supermarket and many other
institutions, the property enjoys good access to all social economic
amenities.
We confirm that to the best of our knowledge, this is not a public
property, nor has it ever been set aside for any public use.
We have perused the relevant survey maps, and we confirm that the
plot concurs with the said maps and it is not situated on a road reserve
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ELDORET MUNICIPALITY/ BLOCK 21(KINGONGO)/3691, UASIN GISHU

COUNTY
In our appraisal of the open market value hereunder, we have made
use of the comparable sales method whereby available market data has
been analyzed.
There are currently no obvious environmental issues including
contaminated land either on the subject or on an adjoining site that
materially affect the value of the property. A detailed environmental
impact assessment would however be required to ascertain this.
We confirm that the property comprise a matrimonial home.
We note that although the law requires us to have a forced sale value
of 75% of the open market value we foresee that in case of foreclosure
(forced sale) only 60% of the open market value would be realize

VALUATION:

Subject to our terms of reference, limiting conditions and

general
remarks, we value the freehold interest free from all encumbrances,
in
LR.
NO.ELDORET
MUNICIPALITY/BLOCK
21
(KINGONGO) /3691 as at todays date as follows:-

ELDORET MUNICIPALITY/ BLOCK 21(KINGONGO)/3691, UASIN GISHU

COUNTY
1. Open Market Value
Land..........................................Kshs. 2,000,000/=
Developments.......................... Kshs.

500,000/=

Kshs. 2,500,000/=
(WORDS: KENYA SHILLINGS TWO MILLION FIVE
HUNDRED THOUSAND)
2. Mortgage Value .......................Kshs.2,000,000/=
(WORDS: KENYA SHILLINGS TWO MILLION)
3. Forced Sale Value ...........Kshs.1,875,000/=
(WORDS: KENYA SHILLINGS ONE MILLION EIGHT
HUNDRED AND SEVENTY FIVE THOUSAND)
4. Insurance Value........................Kshs.575,000/=
(WORDS: KENYA SHILLINGS FIVE HUNDRED AND
SEVENTY FIVE THOUSAND)

For and on behalf of

ULTIMATE VALUERS LIMITED

EDWIN MUTWIRI BA (LAND ECONOMICS) MISK, RV.

DATED: 5TH JULY, 2016

Copy of Survey Plan

ELDORET MUNICIPALITY/ BLOCK 21(KINGONGO)/3691, UASIN GISHU

COUNTY

Ref:

ELDORET MUNICIPALITY/ BLOCK 21(KINGONGO)/3691, UASIN GISHU

COUNTY
Tuesday 5th July 2016
FEE DEPOSIT REQUEST NOTE
To The Branch Manager,
Co-operative Bank of Kenya Ltd,
Eldoret West Branch,
ELDORET.
THIS IS NOT A TAX INVOICE
REF: L.R NO. ELDORET MUNICIPALITY/BLOCK 21(KINGONGO)/3691, UASIN
GISHU COUNTY.
TO:

Valuation of the above property in the total sum of Kshs. 2,500,000.00

Fees in accordance with the Valuers Act Schedule 3 Scale 1.
1.0% on the first
0.25% on the residue

Kshs. 2,000,000.00
Kshs.
500,000 .00

Add disbursements

Kshs. 20,000.00
Kshs.
1,250.00
-----------------------Kshs. 21,250.00
Kshs.

6,000.00
--------------Kshs. 27,250.00
Add VAT @ 16%
Kshs.
4,360.00
--------------Total
Kshs. 31,610.00
=============
Less deposit Kshs. 2,000.00
Total
Kshs. 29,610.00
=============
For and on behalf of
ULTIMATE VALUERS LTD
EDWIN MUTWIRI.
NB: A tax invoice will be sent to you upon full settlement of fees request note
Payments to Co-operative bank, Mombasa road Branch, Account No. 01136190860300

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ELDORET MUNICIPALITY/ BLOCK 21(KINGONGO)/3691, UASIN GISHU

COUNTY
Ref: ..
Tuesday 5th July 2016
To The Branch Manager,
Co-operative Bank of Kenya Ltd,
Eldoret West Branch,
ELDORET.
REF: L.R NO. ELDORET MUNICIPALITY/BLOCK 21(KINGONGO)/3691,
UASIN GISHU COUNTY.

Further to your instructions, we enclose two copies of our report and valuation on the above
property.
Our fee deposit request note is also enclosed for your kind settlement.
Thank you for these instructions.

For and on behalf of

ULTIMATE VALUERS LTD

EDWIN MUTWIRI.

Encls.

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