Invitation to Bid for Properties at a Property Management Company

Posted by Future on Fri 11th Feb, 2022 -

A Property Management Company invites interested and eligible bidders to tender sealed bidding documents for the following works:

A property Management Company invites applications for:

Title: Invitation to Bid for Properties with Vacant Possession Located Across the Country

List of Properties up for Bid and Sales
  • Lot 1. Bare land measuring approximately 2,000 sq. mts. at Plot 8683 IBB Way, Katsina.
  • Lot 2. Residential bungalow with boys qyauter on a land measuring approximately 1,000 sq. mts. at 4u, Mabera Kantin Sani Way,
  • Lot 3. Residential bungalow with boys’ quarter on land measuring approximately 2,000 sq. mts. at 1. Katsina Road, Birnin Kebbi Bare land measuring approximately 1,200 sq. mts along Ibadan
  • Lot 4. Way, beside Emir Guest House, New Bussa, Niger State, Uncompleted building on land measurin9 approximately 802 52 sq mts along Olojo Drive Alaba International Market, Lagos
  • Lot 5. Uncompleted building on land measurin 9 approximately 802 52sq mts along Olojo Drive Alaba International Market, Lagos
  • Lot 6. Bare land measuring approximately 498 sq. mts at 37, Enitan Street, Aguda Surulere, Lagos.
  • Lot 7. Bare land measuring approximately 714.60 sq. mts. at 15, Amaigbo Road, Orlu, lmo State.
Eligibility to Participate
  • Bidders are required to complete "Know Your Client" form as part of the bid submission process to disclose any further information as may be required by the sales agents.
Application Closing Date
28th February, 2022.

Opening of Bids
  • The bids will be opened on March 11, 2022 by 12 Noon and the venue will be communicated to all eligible bidders.
  • Bidders and/or their nominated representatives are expected to be present at the opening of the bid.
  • The highest bid for each property will be the winner SUBJECT to the bid being equal or above the reserved price.
  • Not withstanding paragraph 3 above, the acceptance of the price of the highest bidder shall be subject to the concurrence of the “Selling Party” and the “Selling Party’s Regulator” whose decision in this regard shall be final.
  • In the event of two or more bidders having a tie on the highest bid, the said bidders shall be required to make a second bid immediately and the highest bidder amongst them shall be the winner.
  • The bids will be announced immediately after the opening and the bidders or their representatives will have the right to review the results on March 11,2022 after the exercise.
  • The return of the certified bank drafts to unsuccessful bidders will be processed within twenty one (21) days after the bidding closes and winner announced.
Submission of Documents (Lot 1 - Lot 4)
Documents should be delivered to:
Suleiman Yakubu & CO,

Suite 4, 3rd Floor,
Modibbo Girei House,
C21, Mogadishu, Business Layout,
Kaduna State.
Tel: 08033495824.

Submission of Documents (Lot 5 - Lot 6)
Documents should be delivered to:
Jide Taiwo and Co,

Plot 136, Siriari Daranijo Street,
Victoria Island,
Lagos State.
Contact Persons: Joseph Omage: 07052090213 , Bolakale Aslyanbi: 07052090090 , Chinyere Okuboyejo: 07052090200

Submission of Documents (Lot 7)
Documents should be delivered to:
Ubosi Eleh & Co,
27, Obafemi Awolowo Way,

lkeja, Lagos State.
Contact Persons; Solomon Kanu: 08075559870 , Olusanjo Fawole: 08054797506

Bidding Process
  • Disposal of properties will be by competitive bidding an bids must not be below reserved price.
  • Bids must be made on bid forms and submitted together with duly completed “Know Your Client” form and 10% of the bid amount in certified bank draft made payable tc the agents for respective properties. Bid document àn “Know your Client” forms are to be obtained from th offices of the sales agents or online via a dedicated sitE to be given on request.
  • Bids must be submitted in sealed envelopes with “Bid fo Property” and “bidder’s contact address” marked on thE top left corner of the envelope.
  • The successful bidders will be required to pay the 90% balance of the bid within 60 days of the receipt o Approval of Sale from the Sales Agents failing which thE 10% becomes un-refundable and the Selling Party wil be free to offer the property to other buyers.
  • Bids cannot be withdrawn or cancelled once submitted Where this occurs the initial 10% deposit become non-refundable.
  • Where the Selling Party’s Regulator declines to accept the winning Bid after Ninety (90) days of winning the Bid the funds deposited by the Winning Bidder shall bE returned to the Winning Bidder.
  • By participating in this bid, each bidder is deemed tc have unconditionally accepted all the terms and conditions stated in this advertisement.
Property Inspection
  • Interested bidders can contact the sales agents for guided inspections of the properties and further enquiries. The properties will be sold on "as is basis" (in condition they are presently exist).