AUCTION: A. B. Sulu-Gambari & Co. Sale of Assets/Properties by Sealed Bid Auction

ASSETS/PROPERTIES FOR SALE

This is to notify the general public that the following assets are hereby offered for sale to interested parties. The assets offered for sale are described below:

DESCRIPTION A Sugar Factory located at Bacita in Edu Local Government Area of Kwara State comprising thousands of hectares of arable land, sugarcane plantation, factory buildings and equipment vehicles, office complex and staff/living quarters.
TITLE Certificate of Occupancy

DESCRIPTION Eight (8) Nos. serviced Flats at 8, Gerard Road, Ikoyi, Lagos within “Admiralty Towers” situate on the western side of Gerard Road which is a northern offshoot of the popular Alfred Rewane (Kingsway) Road, Ikoyi, Lagos.
TITLE Deed of Assignment

DESCRIPTION No, 16 (Plots 772A and 7728) Ona Crescent Maitama, Abuja, FCT comprising two detached houses, domestic staff quarters and a gate house.
TITLE Certificate of Occupancy

BIDDING TERMS AND CONDITIONS:
Sugar Factory
(i) A competitive bidding process has been adopted for the disposal of the Factory.
(ii) All bids must be in writing and clearly indicate the bid amount and name of bidder.
(iii) Bids must be submitted alongside 10% of the bid amount in certified bank drafts.
(iv) The certified bank drafts of unsuccessful bidders will be refunded (without interest) once the bidding process is concluded
(v) The bid submission must be made in a sealed envelope with “Bid for Sugar Factory” inscribed on the top left corner of the envelope.
(vi) The successful bidder will be required to pay 40% of the outstanding balance of the bid price within 30 calendar days of notification as the successful bidder, failing which the 10% deposit becomes non-refundable and the Factory offered to other interested parties.
(vii) The remaining balance of 50% will be secured by a Bank Guarantee from a first class Nigerian Bank and be paid within 60 calendar days of the payment of the 40% deposit.
(viii) Bids cannot be withdrawn or cancelled once submitted.
(ix) The Factory will be sold on an “as is” basis.

Other Assets
(i) A competitive bidding process has been adopted for the disposal of the assets.
(ii) All bids must be in writing and clearly indicate the bid amount and name of bidder.
(iii) Bids must be submitted alongside 10% of the bid amount in certified bank drafts.
(iv) The certified bank drafts of unsuccessful bidders will be refunded (without interest) once the bidding process is concluded.
(v) The bid submission must be made in a sealed envelope with “Bid for Other Assets” inscribed on the top left corner of the envelope.
(vi) The successful bidder will be required to pay the outstanding balance (90%) of the bid price within 30 calendar days of notification as the successful bidder, failing which the 10% deposit becomes non-refundable and the properties offered to other interested parties.
(vii) Bids cannot be withdrawn or cancelled once submitted.
(viii) The properties will be sold on an “as is” basis.

SUBMISSION OF BIDS:
Bids must be sealed and submitted in the designated bid box on or before 12:00 pm Monday, 13 May, 2019 at the following address:
The Receiver,
C/o A. B. SULU-GAMBARI & CO.
3rd Floor, Mandilas House
35, Simpson Street,
Lagos Island Lagos.

OPENING OF BIDS:
(i) All bidders and/or their representatives are welcome to be present at the bid opening.
(ii) The highest bid for each asset will emerge the winner subject to the highest bid being equal to or above the market price. Results will be announced immediately after the conduct of the exercise

For further information and clarification including inspection of the properties, please contact the Receiver at the above address and/or further on 08036006699 and [email protected] , [email protected]

This publication and process neither creates any commitment nor establishes any binding or legal obligation on the seller. All cost incurred by prospective buyers as a result of responding to this advertisement and any subsequent request for information shall be on the prospective buyer’s account.

Naija_business_Information_tenders_contracts