Description

Income-generating Asset

This investment fits into our broader strategy to invest in affordably-priced apartments in Lagos, Nigeria.

We are building stabilized, 9-units of 3 bedroom terrace duplexes apartment in Olowora, isheri in between Magodo phase 1 and Omole Phase 2, Lagos, Nigeria. This apartment will be sold with a maximum return of 35% in 12 months.

At a strategic level, this investment fits within our affordably-priced duplex apartments in this region. The high number of family migration from the popular Lekki peninsular and its environs due to flood and other water disadvantages has sprouted the rapid increase of property demand in Premium mainland Estates like Magodo; driving continued demand for well-priced, well-located estate developments, and supporting steady returns for disciplined investors.

We believe that this long-term trend has only been further accelerated by the pandemic. In an economy where remote work is becoming the norm for more and more people, we expect that an increasing share of the population won’t need to live on the Lagos Islands and will instead seek out locations that offer similar luxury with lower disadvantages in terms of traffic, water disaster, costs and of course, more agreeable climates.

This development is on a 1,400 square meters of well-researched land with a Certificate of Occupancy from Lagos State Government. The investment amounts include a budget for financing and other soft costs, bringing our total projected cost to approximately N320 million.

Strategy

Core Plus

Acquire, construct, sell and cash flow to investors

• Risk-return profile: Moderate
• Expected timing/delay of returns: this will be refinanced by new off-takers to payout present investors
• Expected source of returns: Sales

Business plan

Our intent with this and other similar investments — including both single and multiple owner financiers is to build a scaled portfolio that generates consistent maximum yearly returns from Real Estate, while at the same time positioning ourselves to capture what we believe will be outsized price appreciation thanks to a confluence of demographic factors driving demand across the Lagos, Nigeria

Since this is new construction, we don’t anticipate committing significant capital to improvements for the foreseeable future.

WHY SHOULD YOU PARTNER?

• Fast-growing area: The property is located within the Ikeja metropolitan area, just 10 minutes Governor’s office, the state secretariat, and commercial districts, 20 minutes drive to Nigeria’s busiest airport in Lagos, Nigeria. Between 2010 and 2019, the Olowora-Magodo area’s population grew by 27% to over 100,000residents.
• High-quality asset: Magodo phase 1/Omole Phase 2 is a premium location in Lagos and one of the highly-priced Estates.

Income-generating asset: high demand and maximum returns in a short period

LANDMARKS AND FACILITIES IN THE NEIGHBORHOOD,

• Westgate mall
• De prince supermarket
• Lagos State Sport and Youth Development center
• Horse racecourse
• High streets

Additional information

Size	150SQM, 300SQM, 500SQM