University Hostel Project - Smart Investment

Build Operate and Transfer - University Hostel Project - Joint Venture Partners Invited.

Proposed hostel building for a University in Ilorin 

Our Client is looking to work with other reputable property developers or investors to develop 4 blocks of  2 Storey private hostels at a University in Ilorin, kwara state.

The partnership will be in the form of a Joint Venture; Build, Operate and Transfer (BOT)

Our Client already has an agreement signed and sealed with the University. All that is required is a partner to provide funding and the development kicks off immediately.

 Details of the Hostels are provided below and here is a quick projection on returns expected

Project Data/Projections  
No. of Blocks available for construction                                           4
Minimum number of bed spaces in each block                                       496
Period to allowed to Build Operate and transfer Hostel to the school  21 years
Cost of Constructing and Furnishing 1 Block  ₦            400,000,000.00
Estimated rent paid per student for 1 session  ₦                    100,000.00
Estimated Running cost per year (4% of development cost)  ₦               16,000,000.00
Projected Returns on Investment  Amount (N) 
Revenue Per Annum per Block  ₦               49,600,000.00
Returns in the first year (Revenue/yr Minus Running cost/yr)  ₦               33,600,000.00
Returns after 12 Years -Break Even Point (Revenue minus construction cost)  ₦            403,200,000.00
Returns after 19 Years  ₦            638,400,000.00
Total profit on investment on 1 block after 19 years (60%)  ₦           238,400,000.00
Total Profit on 4 blocks after 19 years (60%)  ₦           953,600,000.00
This projection does not include the following:-  
Revenue from selling advert space to companies  
Revenue from renting space to vendors providing services to students e.g. Laundry, canteens, business centers etc  
Potential to increase amount charged to students over the BOT tenure  


Details of Spaces:- 

Ground floor
40 rooms of 160-bed spaces
2 laundry rooms
1 common room
1 buttery with store
entrance lobby

1st floor
42 rooms of 168-bed spaces
2 laundry rooms
1 common room

1 Buttery

2nd floor
42 rooms of 168-bed spaces
2 laundry rooms
1 reading room
1 management office

Number of blocks: 4Nos
Total no of rooms:124 rooms per block
Total no of bed spaces per block: 496-bed spaces
Total no of bed spaces for the 4 blocks: 4 x 496
Total: 1984 bed spaces



Phone: 08091114078