DEADLINE: 29TH DECEMBER, 2022
TRUSTFUND PENSIONS LIMITED
INVITATION TO TENDER FOR THE SALE OF PROPERTY (BY BID)
THE PROPERTY The property is currently owned by a Pension Fund Administrator, who is pursuing an outright sale of the property to interested members of the public.
| PROPERTY ADDRESS | Plot 14 Block 11, Osborne Foreshore Estate, Osborne Road Ikoyi Lagos. |
| TITLE HELD | Deed of Assignment registered at the Federal lands Registry Ikoyi, Lagos. |
| LANDSIZE (SQM) | Approximately 1,993.016 sq mtrs |
| PROPERTY DETAILS | A block of 6 (six) terrace duplexes. |
THE BIDDING PROCESS
The property is being sold in a bidding process, with site visits/property inspections available for interested parties. Only offers for the entire property on an “as is” basis will be considered.
1. ELIGIBILITY TO PARTICIPATE:
To participate in the process, an interested party must NOT be one of the persons or entities exempted from purchasing pension assets under Section 89 of the Pension Reform Act, 2014 or any regulation issued by the National Pension Commission (PenCom).
Bidders are required to complete “Know Your Client” (KYC) forms as part of the bid submission process which shall disclose any further information as may be required.
2. BIDDING PROCESS:
a) Disposal of the property will be by competitive bidding and will be sold to the highest bidder.
b) Bids must be made on a standard bidding form and submitted together with duly completed KYC form with a non refundable sum of N500,000.00 (Five Hundred Thousand Naira only) as a Certified Bank Draft made payable to Trustfund/First Pensions Custodian.
c) Interested bidders are to collect the bid form and KYC forms from the Legal Department of Trustfund Pensions Limited, Labour House, Plot 820/821, Central Business District, FCT, Abuja.
d) The completed Bid form together with the KYC form must be deposited in a sealed envelope with “Bid for Property” inscribed on the top left corner of the envelope.
3. SUBMISSION OF BIDS:
Bids must be addressed and submitted to Trustfund Pensions Limited, Labour House, Plot 820/821, Central Business District, FCT, Abuja, on or before 12:00 noon of Thursday, 29th December, 2022.
OPENING OF BIDS:
a. All Bids will be opened immediately after the submission deadline at 12:00 noon at the Board room of Trustfund Pensions Limited, Labour House, Plot 820/821 Central Business District, FCT, Abuja
b. Bidders and/or their representatives are expected to be present at the bid opening.
c. The highest bid for the property will be the winner SUBJECT to the bid being equal to or above the reserve price. The highest bid for the property will be the winner SUBJECT to the bid being equal to or above the reserve price.
d. Notwithstanding paragraph c above, the acceptance of the price of the highest bidder shall be subject to the concurrence of the National Pension Commission (PenCom) whose decision in this regard shall be final.
i. In the event of two or more bidders having a tie on the highest bid, the said bidders will be requested to make a second bid immediately and the highest bidder among them will be the winner.
ii. The second bids will be announced immediately after opening and bidders and/or their representatives will have the right to scrutinize the results after the exercise.
PROPERTY INSPECTION
Interested bidders can contact Trustfund Pensions Limited via adverts@trustfundpensions.com or Labour House, Plot 820/821 Central Business District FCT, Abuja for guided inspection of the property and further enquiries. The property will be sold on an “as is” basis.
Please note that TRUSTFUND PENSIONS LIMITED will NOT be liable for any delays due to circumstances outside its control. For further enquiries, send a mail to adverts@trustfundpensions.com
Signed
Management
