Room size. 4mx 4m.
100m x 30m.
Number of rooms per floor=50 rooms.
Number of rooms for 3 levels=150 rooms.
Cost of construction per m2. High class finishes =kes 35,000
Cost of construction per room=kes 35,000 x 16m2=560,000
Cost of construction per floor=kes 560,000 x50 rooms=kes 28,000,000
Cost of construction per 3 floors=kes 84,000,000
Plot size 200m x 50m.
Number of 1 bdrmed units per floor.40
Size of I bedr. unit=6m x 5m=30m2
Cost of 1 bedr. unit=30m2x kes 35,000 per m2=kes 1,050,000
Cost for 40 units=kes 42m.
Rent per unit=kes 15,000
Rent for 40 units per year=kes 15,000 x 40 units x 12 months=kes 7.2m
Return on Investment=kes42m/7.2m=5.8 years.
Number of bedsitter units per floor.40
Size of bedsitter unit=4m x 5m=20m2
Cost of bedsitter unit=20m2x kes 35,000 per m2=kes 700,000
Cost for 40 units=kes 28m.
Rent per unit=kes 10,000
Rent for 40 units per year=kes 10,000 x 40 units x 12 months=kes 4.8m
Return on Investment=kes28m/4.8m=5.8 years.
Most real estate projects in Kenya have a return on investment of 15 years. This project returns its investment in a record 5.8 years hence very feasible.
Francis Gichuhi kamau, Architect.