Uncompleted Block Of 32 Residential Units On Offer

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Uncompleted 32‑Unit Apartment Block (Shell) ---
Katampe Main, Abuja
3,200 sqm
C of O
₦2.7B

Overview: Strategic carcass (shell) investment in Katampe Main: a partially completed residential project comprising 32 units (mix of 2‑ and 3‑bed apartments) on a single 3,200 sqm site with Certificate of Occupancy. Offered as a turnkey value‑creation opportunity for developers or investors able to complete internal finishes and MEP to bring the asset to revenue. At current asking price, the purchaser benefits from very large construction cost savings versus building from scratch.

Quick facts

- Product: Partially completed apartment carcass (structure in place) --- 32 units (2‑bed & 3‑bed mix)
- Site area: 3,200 sqm
- Title: Certificate of Occupancy (C of O) --- available for verification
- Asking price: ₦2,700,000,000 (Two billion, seven hundred million Naira)
- Facilitator / agency: 5% (to be agreed in Heads of Terms)
- Location: Katampe Main, Abuja --- secure, high‑demand residential precinct

Why this is attractive

- Time & cost savings: Structural shell and major works are completed --- finishing only required (MEP, internal fittings, finishes), reducing build‑out cost by a significant margin versus new build at current market rates.
- Scale: 32 units provide immediate portfolio‑scale rental capacity once finished --- strong yield potential in Katampe market.
- Title clarity: C of O supports financing and institutional interest.
- Fast track to cashflow: Complete finishes and commissioning to start leasing in a much shorter timeframe than new construction.

Suggested uses & exit strategies

- Buy‑and‑finish for rental portfolio (long‑let or serviced apartments)
- Sell finished units individually or in small blocks to owner‑occupiers / investors
- Operate as corporate housing for institutions, embassies or large employers
- Hybrid model: retain core units for stable cashflow, sell remaining units to realise capital

What the project includes (indicative)

- Structural carcass: load‑bearing structure, core walls, staircases and floor slabs in place (detailed stage report available)
- External envelope and roofing largely complete (confirm by inspection)
- Internal MEP at various stages --- buyer to review exact scope and cost‑to‑finish
- Common areas and circulation in place --- finishes to be completed

Recommended buyer due diligence

- Title & legal: verify C of O and chain of title with a solicitor; confirm absence of encumbrances.
- Technical: full condition and snagging survey (structural report, roof, waterproofing, column/slab integrity).
- MEP audit: detailed review of electrical, plumbing, drainage, HVAC readiness and testing of any installed systems.
- Cost‑to‑complete: independent QS to prepare an accurate finish/M&E budget and programme.
- Market & commercial: occupancy / rental comps in Katampe, sales pricing for finished units and operating pro‑forma.

Why act now

- Strategic location in Katampe Main with strong rental demand from professionals and corporate tenants.
- Carcass position materially reduces construction risk and cost exposure --- allow investor to capture immediate uplift with a relatively modest finishing capex.
- Single transaction for a 32‑unit scale asset offers attractive diversification and institutional appeal.

Next steps & process

1. Submit an Expression of Interest (EOI) with company profile and proof of funds.
2. On qualification, execute NDA and receive the project data pack (title, structural reports, site photos and current snag list).
3. Arrange site inspection and commission technical & QS reports.
4. Agree Heads of Terms (price, deposit, completion timeline, facilitator fee) and proceed to contract.

Note All information provided is indicative and in good faith. Buyers must carry out independent legal, technical and financial due diligence. Pricing and terms are subject to negotiation and prior sale.

Ref: Smart