Afrinvest Request for Expression of Interest (EOI) for The Development Of A 1,000 Bed Capacity Student Hostel Under A Build –Own- Operate- Transfer Model

Afrinvest (West Africa) Limited (“Afrinvest”) has been appointed as Financial Advisers to a private university in Nigeria (the “University”). The University has a goal to train future leaders and to serve as a stimulus, and agent of economic development in Nigeria and Africa at large. The University is expanding its course offerings in the Sciences, Technology and Engineering disciplines which will increase student enrolment by up to 1,000 over the next 4-years. As such, the University needs to Increase its student accommodation capacity by 1,000 bed spaces within the next 2-4years.

Afrinvest hereby invites interested real estate developers, construction firms and financial investors who have relevant experience in building student hostels to express their Interest for the build, own, operate and transfer of a 1,000-bed capacity student accommodation with a concession period of 10-15years.

Typical Room Design Requirement!
The University’s current student accommodations Incorporates a range of features and design layouts as follows:
(1) Single bed space layout, double bed space layout, triple bed space layout and Quadruple bed space layout.
(2) Room sizes can range from 15sqm-35sqm depending on the bed space configuration.
(3) Each bed space comes with a standard set of furniture including a reading desk with chair, wall bookshelf, wardrobe, bed, mattress and pillow.
(4) All rooms are air-conditioned and come with an en-suite bathroom including a shower cubicle, a water closet and a sink in an arrangement where 2-to-3 people can use the facilities at the same time.

OTHER DESIGN REQUIREMENT!
The hostel building should have other essential design features including:
(1) Reading rooms on each floor with appropriate sound proofing.
(2) Students Lounges, Common Room, Indoor Sports Facilities. Stall Offices, Tuck Shop, Laundry Facility, Cafe, Hair Saloon. Sick Bay;
(3) Visitors Lounge/Waiting area;
(4) Adequate external works e g. outdoor lighting, walkways, manholes, septic tanks, stormwater drains etc.
(5) Refuse handling facilities and a chute.

The University prefers that the student accommodations are delivered over a four-year period in the following places

Delivery Phases

TECHNICAL CAPABILITY
Each Bidder or Bidding Consortium must show that it has the technical capability, experience and expertise (either directly or through the use of other parties such as consultants or contractors etc.) to design, construct and operate the Hostel. Appropriate experience in similar projects is essential.
Each Bidder or Bidding Consortium must demonstrate significant technical experience of a minimum of two (2) similar projects with at least one (1) in student accommodation with at least 300 bed-spaces. A description of each project should be presented:
Name of Project; Brief Description and Client(s)
Scope of work; Role, Contract Value; Nature of Contract (Concession, Lump Sum etc.) and Contractual Period
Name and address of related client’s referee

FINANCIAL CAPABILITY
• Each Bidder or Bidding Consortium MUST show evidence of strong financial capability, with the ability to directly or indirectly arrange financing for the construction on the back of a revenue guarantee from the University. This will be done by providing:
• Evidence of the Bidder’s or Bidding Consortium’s specific experience as project sponsor in raising the equivalent of at least N5bn In total financing for previous projects. Including a description of the projects, the role of the project sponsor in obtaining financing, a summary of the amounts and types of financing raised.
• Any relevant Information that demonstrates credibility and eligibility for the Transaction.

SUBMISSION OF EXPRESSION OF INTEREST:
An interested Bidder or Bidding Consortium is required to submit their Expressions of Interest (“EOI”) in English Language with the following documentation under the subject “EXPRESSION OF INTEREST TO BUILD, OWN, OPERATE AND TRANSFER A 1,000 BED STUDENT ACCOMMODATION”.

THE EOI SUBMISSIONS SHOULD INCLUDE:
One (1) original copy and four (4) other copies of Expression of Interest to be delivered in a sealed envelope clearly marked “EOI – for the Development of Student Accommodation’’ and delivered to the address below not later than 5.00pm (Nigerian time) on June 28,2019.

The Head, Investment Banking Division
Afrinvest (West Africa) Limited
27, Gerrard Road, Ikoyi
Lagos, Nigeria
Tel No: +23412701680 Ext: 313;
Mobile. +234 8160106231,+234 816982 2600

• Electronic copies should be delivered to ProjectGoldenGooseEOI@afrinvest.com (where there are conflicting information between the electronic copies submitted and the physical copies, the information in the physical submissions would be used).
• A non-refundable fee of N200, 000 (Two hundred thousand naira only) will be required for the EOI application process. The EOI application fee should be issued in the form of a bank draft in favour of Afrinvest (West Africa) Limited.

EOI SUPPORTING DOCUMENTATION
• Full name of the Bidder or Bidding Consortium and contact person, postal address, telephone, e- mail address and website URL (if any)
• Brief description of the history and business of the Bidder/Bidding Consortium.
• Ownership structure including name(s) of shareholders with more than 10% stale either directly or indirectly.
• Company registration Including Certificate of Incorporation, certified true copies of Memorandum and Articles of Association and CAC Form C07 or the equivalent
• In case of a Bidding Consortium evidence of alliance/partnership/joint venture between members in the consortium clearly indicating the lead entity authorized to submit in the EOI
• Most recent 3-Years Audited Financial Statements art latest Management Accounts if available
• Evidence of Technical Capacity to undertake the project
• Evidence of financial capacity to deliver the projects as contemplated

FURTHER INFORMATION

• Upon receipt and evaluation of the EOIs, a shortlist of developers/investors will be prepared, and shortlisted prospective Investors will be contacted and advised on the next steps.
• Afrinvest shall not be responsible for the cost of any submission of EOIs or any loss suffered by such submission
• For further clarification or enquiries, prospective investors may obtain further information from Afrinvest at the address stated above.
• By submitting an EOI, an interested party confirms that it is a person able to receive the information provided to it (or which may be provided to it any subsequent phase) without contravention of any unfulfilled registration requirements or other applicable legal or regulatory restrictions in the jurisdiction in which resides or conducts business.
• Afrivest acting on behalf of the University, reserves the right to accept or reject any submission and to amend or discontinue the Transaction at any time, without any obligation to provide reasons for its decision. Afrivest is acting exclusively for the University and no one else in connection with the Transaction.