The Energy and Petroleum Regulatory Authority (EPRA) has invited bids for the purchase of an office building, months after Standard Chartered Bank Kenya announced plans to sell its Chiromo headquarters in Nairobi as part of a shift towards an asset-light business model.
In a tender notice dated Tuesday, October 27, EPRA invited eligible firms to submit bids for the purchase of an office building under tender number EPRA/890/0001/2026-27.
“The Authority invites bids from eligible firms through the Electronic Government Procurement (e-GP) System for the following tender,” EPRA stated in the notice.
The authority listed the tender description as “Purchase of Office Building” and indicated that the opportunity was open to eligible bidders.
“Tender documents are available through the e-GP System. Bids must be submitted electronically through the system on or before the specified closing date and time,” the notice stated.
The deadline for submitting bids is November 17, 2026.
EPRA is a state corporation established under the Energy Act, 2019, and is responsible for the economic and technical regulation of the electricity, renewable energy, petroleum and coal subsectors.
EPRA’s tender comes against the backdrop of Standard Chartered Bank Kenya’s plans to dispose of its Chiromo headquarters, a seven-storey office building located on a 1.88-acre property in Westlands, Nairobi.
In its 2025 annual report, the bank disclosed that the property had been designated as a non-current asset held for sale in June 2025, signalling an active process to dispose of the building.
The financial statements show that KSh1.411 billion was transferred from property, plant and equipment and right-of-use assets into the category of assets held for sale during the year.
The bank’s report stated that the Chiromo property had been designated as held for sale in June 2025, while its Treasury Square and Nyeri branch properties were sold during the year.
The report’s accounting policy explains that assets are classified as held for sale when they are expected to be recovered primarily through a sale rather than continued use.
It states that “the sale should be expected to qualify for recognition as a completed sale within one year from the date of classification.”
The policy further requires management to be committed to the disposal plan, an active programme to find a buyer to have commenced, and the asset to be marketed at a reasonable price relative to its fair value.
The Ksh1.411 billion carrying value reported for the assets held for sale in 2025 compares with Ksh215.28 million recorded in 2024.
The bank’s financial statements also indicate that properties at Treasury Square and Nyeri were disposed of during the reporting period, reinforcing its broader move away from owning some of its real estate assets.
The planned sale of the Chiromo headquarters forms part of the bank’s asset-light strategy, under which it seeks to reduce its reliance on owned property while focusing on its core banking operations.
