KSAMC selling 29 East King’s House Road
The council meeting yesterday approved a resolution for the KSAMC to enter into negotiations with Kenneth Loshusan and Sons Limited and Grant Marketing Company for “the sale of 29 East King’s House Road, otherwise known as (Section 1B East King’s House Road)”.
The resolution said that the two companies wanted to purchase the road to facilitate the expansion of their business.
The road partitions land already owned by the two companies on opposite sides of the corridor and acquisition of the road would make the property contiguous.
The KSAMC has already commissioned and received two valuations for the road. The National Land Agency (NLA) has valued it at $98 million and a private valuation has placed a market value of $120 million on it.