Jubilee Holdings has purchased Coca-Cola East Africa’s former head office in Nairobi’s Upper Hill at a cost of Sh1.1 billion.
Before, the Coca-Cola annoyosed about the sale of the property in July 2019. This came after moving to a new bycility in Lavington.
The Jubilee is set to move its headquarters to the property in September.
The Nairobi Securities Exchange -listed firm will lease out part of its current address –Jubilee Insurance House on Wabera Street— which will also continue to house its agents and customer service operations.
“We bought the Coca-Cola building at a cost of Sh1.1 billion. Very good deal,” Jubilee Holdings chairman, Nizar Juma, told the Business Daily.
“We are adding one floor and also doing renovations. We expect to move in September.”
The soft drinks biggest company at the time said it preferred to migrate to a location that is near to residential areas besides having a working space that is “more open and less formal”.
The estate that is on 3.2 acres piece of land had been on the market for more than two years.