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
reception
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
CONTACT US
Email: deji@jvpulse.com, jumoke@jvpulse.com
Phone: 08091114078