# Commercial Space at the Epicenter {OFF-PLAN SALES} Plot 480 CAD Zone C01 in Karmo District

#### Property Detail

Type Status Location Sub Location Price ₦405,000,000.00 Area 1323.2 Sqm

#### Property Description

The commercial and residential wings of the Epicentre project have been structured to be complementary to one another. There are currently six units (out of twenty) left on the residential building.

The commercial wing of The Epicentre project is be sold open-plan so as to enable an investor maximize the space for a variety of uses. Although we have recommended that the building be used for lifestyle purposes, the project is being sold off-plan, so the floor plans can be tweaked to the investor’s requirements. Based on the open floor plans for the building, each floor has between 308.75sqm and 353.45sqm of lettable space.

These amount can be paid in tranches, with 70% of the total amount paid over the first six months of construction, and the balance of 30% spread over the following 18 months.
We estimate that you would have received a net cash-flow of about 24% of the initial investment over the next five years. The value of the property is also expected to have appreciated by 45% by the fifth year.

The prices of each of the floors are calculated based on the size of the lettable space on each of those floors. As the floors go upward, the cost per square meter decreases.

1. On the first floor, the purchase price per meter square meter is ₦389,000.00. The quantity of lettable space on this floor is 353.45sqm. This brings the cost of the first floor to ₦137,492,050.00. Factoring in 5% Value Added Tax (VAT) would bring the total cost of this floor to ₦144,366,652.00 (One hundred and forty-four million, three hundred and sixty-six thousand, six hundred and fifty-two naira only).
2. On the second floor, the purchase price per square meter is ₦313,000. The quantity of lettable space on this floor is 308.75sqm. This brings the cost of the first floor to ₦96,638,750.00. Factoring in 5% Value Added Tax (VAT) would bring the total cost of this floor to ₦101,470,687.00 (One hundred and one million, four hundred and seventy thousand, six hundred and eighty-seven naira, fifty kobo only).
3. On the third and fourth floors (office floors), the purchase price per square meter is ₦229,000. The quantity of lettable space on these floors are 330.5sqm. This brings the cost of the first floor to ₦75,684,500.00. Factoring in 5% Value Added Tax (VAT) would bring the total cost of this floor to ₦79,468,725.00 (Seventy-nine million, four hundred and sixty-eight thousand, seven hundred and twenty-five naira only).

These prices and all our forecasted values where arrived at based on analysis of commercial property in comparable districts like Jabi, Wuye, Katampe and Gudu. The forecasted values are based on perceived rates acquired from new developments in various these districts with similar level of infrastructural development.

THE PROJECT WOULD BE COMPLETED IN JUNE OF 2018.

### Contact Agent

(234) 8138447277
(234) 8055384575

₦900,000,000.00

41
41
₦550,000,000.00

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