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PROPOSAL FOR INVESTMENT IN REAL ESTATE DEVELOPMENT AT ATAN OTA, OGUN STATE OF NIGERIA.2008
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SITING AND CONSTRUCTION OF
IN
PROPOSAL FOR INVESTMENT IN REAL ESTATE DEVELOPMENT AT ATAN OTA, OGUN STATE OF NIGERIA.2008
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1. PREAMBLES.
1.1 Real Estate investments have been proven years over the years to be the most rewarding
investments option since creation. No wonder every facet of both private and commercial
life centers on real estate, as various establishment requires it to conduct their businesses.
This investment window returns absolutely on investment and yielded over 200% in the
last 2 years. In view of the above, and with shelter playing prominent role in human
existence, we have taken the pains to make our mark in this sector.
1.2 We are an indigenous company with interest and core competency in property acquisition,
sourcing, development, trading, warehousing, real estate investment and Mortgage
Origination. We are actively involved in the development of both residential housing
scheme and commercial properties basically in Lagos and other parts of the country. Our
professional position and affiliations also gives us leverage in facilitating mortgage
origination owing to the fact that availability of fund for home ownership project
execution is almost not within the reach of average individual and corporate employees.
1.3 We are located at No. 9, Opeki Layout, Abesan Estate, Ipaja, Lagos. We also have a
branch office at No. 15B, Salaudeen Akano Street, Ogudu G.R.A., By Pako Gate, Ogudu,
Lagos. Our affiliation with a number of financial institutions gives us a lead in the
delivery of decent and sustainable housing at very affordable pricing.
2. PAST EXPERIENCE
2.1 By direct involvement and support services, we have maintained an enviable track record
in the development and delivery of various housing estates. These include the following
among others to mention just but a few.
3. PROJECT CONCEPT
3.1 The concept to be adopted towards the achievement of the objective of this investment
proposal will include but not limited to immediately acquiring a 100 acres of land at Atan
Ota, Ogun State for site and service purposes. The developmental proposition for this
project will be in phases. The first phase would be as stated above.
3.2 Second phase of the project concept will center on the development of these properties for
the owners, either for commercial purposes and or residential. This phase would tie to the
federal mortgage bank of Nigeria. The project will entail a well laid out landscape with
infrastructural amenities. It will sit on approximately 100 acres of land and House over
1200 occupants. Various housing units' type proposed for this estate includes 3 bedrooms,
2 bedroom and 1 bedroom bungalow all room ensuite; as well as Detached and Semi-
Detached Duplexes with exquisite designs.
PROPOSAL FOR INVESTMENT IN REAL ESTATE DEVELOPMENT AT ATAN OTA, OGUN STATE OF NIGERIA.2008
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3.3 There would equally be room for the development of tastefully finished structures for those
desiring to invest therein. It is estimated that this project will be completed and delivered in
phases, therefore 12 months would be dedicated for phase 1, while the other phases will be
in line with the instructions from the various owners.
4. PROJECT LAYOUT
4.1 The proposed estate development project will be specifically designed to accommodate
both the working class and others who are not steady income earners. The estate is proposed
to comprise various categories of buildings nicely laid out on a complementary beautiful
landscape. The building categories intended for this estate are as listed below.
4.2 All categories of building proposed for the estate will be completed with kitchens, toilets
and finished to internationally acceptable building standard.
5. NEIGHBOURHOOD CENTRE
5.1 The neighborhood centre shall consist of a recreational center specifically designed for
relaxation and provided with facilities for games and exercises with a health care center,
police post, schools, religious places etc.
6. FACILITIES
The facilities to be provided in this estate shall include:
It is proposed that there will be two types of roads within the estate. These are as detailed
below:
• Secondary Roads.
7. ENVIRONMENTAL AESTHETICS
The Estate has been conceptualized and planned to rank in beauty, security, layout and
services in the mould of the highbrow estates in the Lekki-Ajah area. In fact it is a
reproduction of the Victoria Garden City in the Otta area.
PROPOSAL FOR INVESTMENT IN REAL ESTATE DEVELOPMENT AT ATAN OTA, OGUN STATE OF NIGERIA.2008
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8. LOCATION
8.1 Site 1: The expanse of land is situated in Losada/Idobarun/Alapoti villages, Atan Otta in
the Ado-Odo Local Government Area of Ogun State.
8.2 Site 2: The entire spread is located in Ishola Village, on the tarred road which branched off
at Lusada (The home of Crawford University), on the Atan – Agbara road.
8.3 Site 3: The land is situate in Adiye Owe village on the left side, along the Atan – Agbara
Road. It is a five minutes drive from Atan Ota and a 12 minutes drive from
Winners Chapel.
9. ACCESSIBILITY
9.1 Site 1.
a. The site is located having its North Gate on the Tarred Road linking Atan
Ota and Ado Odo; the Local Government Headquarters for this area.
b. The South gate is located on the tarred road linking Atan Ota and Lusada
(The home of Crawford University).
c. The land could also be linked through the Atan – Agbara Road
9.2 Site 2.
a. The parcel of land is situated on the tarred road linking Atan Ota and
Lusada. It is at the back of Crawford University and the new site for
Nigerian Breweries staff Quarters.
b. The land could also be linked through the Atan – Agbara Road
9.3 Site 3.
a. The main access road is the tarred Atan – Agbara Road
11. TOPOGRAPHY:
It is a flat land with no encumbrances
12. OWNERSHIP
The expanse that is accessed through the North Gate is owned by the Ado Odo Royal
Family while the one through the South Gate is owned by the Ishola Family. The entire
100 Acres (with possible future expansion is administered by the Royal Family and the
Kabiyesi in Ado Odo.
PROPOSAL FOR INVESTMENT IN REAL ESTATE DEVELOPMENT AT ATAN OTA, OGUN STATE OF NIGERIA.2008
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14. COST OF THE LAND
14.1 Site 1: Owing to the bulk purchase packaging, the negotiated price for the land is
pegged at N300,000 (Three Hundred Thousand Naira) per Acre including agency
commission and other charges (Ilagbe, Iwoko, receipt et al inclusive). This
comes to N30,000,000 (Thirty Million Naira only) for the 100 Acres.
14.2 Site 2: Owing to closer proximity and accessibility and considering the level of
development in this area, the negotiated price for the land is pegged at N550,000
(Five Hundred and Fifty Thousand Naira), for bulk purchase, per Acre including
agency commission and other charges (Ilagbe, Iwoko, receipt et al inclusive).
This comes to N55,000,000 (Fifty Five Million Naira only) for the 100 Acres.
14.3 Site 3: Owing to proximity to Atan and accessibility and also considering the level of
development in this area, the negotiated price for the land is pegged at N600,000
(Six Hundred Thousand Naira), for bulk purchase, per Acre including agency
commission and other charges (Ilagbe, Iwoko, receipt et al inclusive). This
comes to N60,000,000 (Sixty Million Naira only) for the 100 Acres.
PROPOSAL FOR INVESTMENT IN REAL ESTATE DEVELOPMENT AT ATAN OTA, OGUN STATE OF NIGERIA.2008
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18. PROJECT DYNAMICS
18.1 The dynamics inherent in this project shall be such that the owners of the landed
properties will be persuaded to accept installmental payments at different stages of
development. Whereas we would have began the sales of this property, the cash inflow
from final beneficiaries will actually be used to finance acquisition of this properties.
Collaboration with other financial institution and the promoters can also be arranged. This
will therefore necessitate our developing a relationship with such.
18.2 The strategy to be adopted will be to first advertise this project by way of sensitizing
members of our immediate neighborhood via application for the project and with a
promise of sourcing social loan with 6% p.a interest rate payable over a maximum period
of 30 years or at worst commercial mortgage loan at 20% p.a repayable within 20 years to
enable them develop the houses. The application form will determine the development
option applicable to each applicant.
19.1 This project will be completed and delivered within 8 months. Once the construction
works have commenced subscribers to NHF loan will be cultivated to subscribe into the
property, so as to ensure that the period of pay -off is significantly reduced.
PROPOSAL FOR INESTMENT IN REAL ESTATE DEVELOPMENT ATAN OTA, OGUN STATE OF NIGERIA.2008
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20. PROPOSED PROJECT COST
20.2 Preliminaries:
20.5 Infrastructures
Site 1: (Fifty Eight Million, Six Hundred and Twenty Seven Thousand, Eight Hundred Naira only)
Site 2: (Eighty Four Million, Eight Hundred and Seventy Seven Thousand, Eight Hundred Naira Only)
Site 3: (Ninety Million, One Hundred and twenty Seven Thousand, Eight Hundred Naira Only)
PROPOSAL FOR INESTMENT IN REAL ESTATE DEVELOPMENT ATAN OTA, OGUN STATE OF NIGERIA.2008
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Phase II
20.7 Buildings ??
18.1 This project will attract funding from essentially 5 main sources:
18.1.5 Mortgage loan via National Housing Fund Loan Scheme from Federal Mortgage Bank of
Nigeria, to enable pay - off. This is achievable within 9 months.
PROPOSAL FOR INESTMENT IN REAL ESTATE DEVELOPMENT ATAN OTA, OGUN STATE OF NIGERIA.2008
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Proposal
Vineyard Properties Ltd is a fully owned Private indigenous company with interest and
core competency in property acquisition, sourcing, development, trading, warehousing, real estate
investment and Mortgage Origination. We are actively involved in the development of both residential
housing scheme and commercial properties basically in Lagos and other parts of the country.
As a going concern, we propose to you two options as follows
1. A simple investment of a stipulated amount payable in 5 years at once or by 3 installments; first
maturity being after the 3rd year of investment.
2. Subscribing as a promoter of the Company and watch your investment grow with the company.
Here, returns would be determined by the growth of the company in all the subsequent
developmental projects to be embarked upon by the company and paid according to your stake in
the holding structure.
Proposed Selling Price of a plot of land in the first phase of the Site and services segment of the
proposal is N400,000.00 – N470,000.00
Once secured, we promise a minimum of 300% returns on your investment at the end of five years.
Future takes:
We should learn to take full advantage of the opportunity that’s in that area as it gives a better proximity
to Lagos as it is just a ten minutes drive from the Bells and Covenant University environs.
Appeal:
I appeal to you sir, to consider the benefits accruable from identifying with this cause and partnering to
midwife a new birth in property business on this part of the divide.
Thank you
Afolabi Sam-Adeboye
Chief Executive Officer
Vineyard Properties Ltd
PROPOSAL FOR INESTMENT IN REAL ESTATE DEVELOPMENT ATAN OTA, OGUN STATE OF NIGERIA.2008
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APPLICATION FORM
PERSONAL DATA
EMPLOYMENT INFORMATION
……………………………………………………………………………………………………………
……………………………………………………………………………………………………………
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6.
7.
FINANCIAL INFORMATION
Less Expenses:
Investments
Residential
…………………………………………………………………………………………………………
…………………………………………………………………………………………………………
…………………………………………………………………………………………………………
…………………………………………………………………………………………………………
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If yes, please tick property type as stated below:
Flat
TownHouse
Duplex
MORTGAGE PLAN
Any Existing Mortgage(s)? :........................................ . (Yes/ No) if yes, please give details(please state
... ..... . ... . . . .. . . ... If social, Are a contributor to JHF Loan Scheme? If yes state your NHF
be mortgaged: ........................................................................................................................................ .
I declare that the information provided above is true and there in no financial commitment or
obligation that I have not disclosed. I also accept that in collaboration with Mortgage providers will
arrange Insurance for Comprehensive Risk / or Special Personal loan Assurance (SPLA) with
reputable insurance company.
.
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Name in Full: ........................................................................................................................................................ .
Date Application Fee Received: ......... Bank / Cheque no ............. Initial & Date: ………………
Pay slips Received
Tax Clearance Received
Comments:
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