ASSET MANAGEMENT CORPORATION OF NIGERIA (AMCON)
PROPERTIES FOR SALE BY BID AUCTION

The Asset Management Corporation of Nigeria (AMCON) in fulfilment of its objectives and exercise of its statutory duty of efficiently resolving eligible bank assets purchased from various eligible financial institutions in Nigeria, offers the following properties for sale to interested members of the public. Further details of the properties available for sale, can be found on the following website: www.amcon.com.ng

DELTA PROPERTIES

S/NPROPERTY ADDRESSLAND SIZEPROPERTY DETAILS
1A Plot of land with an uncompleted building at 101C Edjeba Road, Warri Delta Statel,166.4sqmDevelopment on the property is an uncompleted structure on two wings at ground level.
2House at no. 6 William Oki Street Edjeba Warri, Delta State2,455.50sqmThe asset is a fully detached residential development. Developments within the property include main house which is a detached duplex, guest chalet, security gate, swimming pool, laundry room.
3Blocks of Flats at no. 7, William Oki Street, Edjeba, Warri, Delta State432.90sqmThe asset is a block of four units 3 bedroom flats with a security post.
450 rooms building at no. 101B Edjeba Road, Warri, Delta State19,277.88sqmDevelopment on the site comprises of 50 rooms hotel complex (3 floors), conference hall and kitchen block.
5Property known as Hotel Oceania locate at no. 101 Edjeba, Warri, Delta State3,967.18sqmOcean Blue Hotel and Resort, Development is made up of 12nos structures which include reception, admin block, conference hall, restaurant, 4nos standard ensuite hotel rooms and 2nos standard hotel suites and 2nos standard executive suites.
5Property known as Hotel Oceania locate at no. 101 Edjeba, Warri, Delta State3,967.18sqmOcean Blue Hotel and Resort, Development is made up of 12nos structures which include reception, admin block, conference hall, restaurant, 4nos standard ensuite hotel rooms and 2nos standard hotel suites and 2nos standard executive suites.
6Asphalt Plant at Otokuku, Warri, Delta State43,000sqmThe site is a fairly square parcel of land. The assets inspected are security building, storehouse, workshop building, fuel dump block, staff canteen, Laboratory block, Asphalt plant, shipping caravan, motor vehicles, machineries, tanks and reservoirs

RIVERS PROPERTIES

S/NPROPERTY ADDRESSLAND SIZEPROPERTY DETAILS
1No 2 Aba Port Harcourt River2,529.63sqmThe Property is a Commercial Warehouse complex, consisting of an Office Block and Warehouse Building. It is fully secured with a block fence (rendered and painted in emulsion finish), a Gate and Gate house. The external area is fully paved with a concrete slab. Other services on site includes a borehole, overhead water storage tank, car port, RMU, Transformer and external service bay. It has a land size area of about
2Plot 5 Chief nwoke street, trans Amadi industrial layout6,174.93sqmDevelopment on site comprises purpose built warehouses, offices and administrative blocks. Other developments are workshops, pressure testing bay, generator houses, toilets e.t.c all on a site area of approximately 6,174.93sqm

OGUN PROPERTIES

S/NPROPERTY ADDRESSLAND SIZEPROPERTY DETAILS
1Land and Building at No. 1, Oke Siken Area, Off Ijebu Ode/Ososa Odogbolu LGA Ogun State (Polythene & Farm section)25,576sqmDevelopment on site comprises of polythene and Farm section, bay houses, administrative block, warehouse, generator house, water tanks, and other outstanding construction works
2Land and Building at No. 3 & 6 Iyabode Close, Ososa, Ijebu Ogun State Behind Hubert Ogunde House (Feed mill factory section)16,310sqmDevelopment on site comprises of Feed mill factory section, bay houses, administrative block and generator house
3Plant and machinery at Ososa, Ijebu Ode Ogun state (polythene, farm & feed mill factory section)Polythene, Farm and Feed Mill Factory Section

ELIGIBILITY TO PARTICIPATE:
To participate in the process, an interested party must meet the following criteria:

(i) Individual / Corporate entity must not be indebted to AMCON;
(ii) Directors of interested companies must not be indebted to AMCON; and
(iii) Individual must not be an AMCON employee, a relative of an AMCON employee or member of the Board of AMCON.

BIDDING PROCESS:
(i) A competitive bidding process has been adopted for the disposal of the properties.
(ii) Bid forms are available from the coordinating agent, Osy Kamalu & Associates: 09051331416, 08036274306. Alternatively, they can be downloaded from AMCON’s website www.amcon.com.ng under Asset Disposal – Assets for Sale or requested by emailing amcon.disposals@amcon.com.ng ; osykamaiuassociates@gmail.com or osykamaluagency@gmail.com
(iii) Bid forms must be submitted alongside 10% of the bid amount in Certified Bank Drafts payable to the Asset Management Corporation of Nigeria or evidence of the transfer of 10% of the bid sum to AMCON via the Remita platform, details of which are provided with the bid forms. Where bank drafts are provided, please note that if the deposit sum exceeds N10million multiple certified bank drafts must be provided.
(iv) The bid submission must be made in a sealed envelope with “Bid for Property” inscribed on the-top left corner of the envelope.
(v) The Certified Bank Drafts and transferred funds of unsuccessful bidders will be refunded once the bidding process is concluded.
(vi) The successful bidder will be required to pay the 90% outstanding balance of the bid price within 15 calendar days of the bid submission deadline, failing which the 10% deposit becomes non-refundable and the property can be offered to other buyers.
(vii) Bids cannot be withdrawn or cancelled once submitted.

SUBMISSION OF BIDS LAGOS:
(i) Bids for properties located in Lagos, Ogun, Enugu, Rivers and Cross River must be sealed and submitted in the designated bid box at the following address:

Asset Management Corporation of Nigeria (AMCON)
67, Marina Street,
Lagos Island,
Lagos

(ii) The deadline for the submission of bids is 12:00 noon Tuesday, 3 December, 2019.
(iii) All bids submitted in Lagos will be opened at the AMCON office where the bids were submitted at 1:00pm Tuesday, 3 December, 2019.

SUBMISSION OF BIDS ABUJA:
(i) Bids for properties located in Abuja must be sealed and submitted in the designated bid box at the following address:

Asset Management Corporation of Nigeria (AMCON)
Plot 417, Tigres Crescent,
Off Aguniyi Ironsi Road,
Maitama
Abuja

(i) The deadline for the submission of bids is 12:00 noon Tuesday, 3 December, 2019.
(ii) All bids submitted in Abuja will be opened at the AMCON office where the bids were submitted at 1:00pm Tuesday, 3 December, 2019

OPENING OF BIDS:
(i) All bidders and/or their representatives are welcome to be present at the bid opening. The highest bid for each property will emerge the winner subject to the highest bid being equal to or above the reserve price. Results will be announced immediately after the conduct of the exercise.
(ii) In the event of a tied bid at the bid opening or where none of the bids match or exceed the reserve price, bidders will be required to submit fresh bids at the bid opening. The outcome of the fresh bid submissions will be announced at the bid opening.
(iii) Conclusion of sale of some properties, due to size, may further be subject to higher authority approval.

PROPERTY INSPECTION:
All interested bidders are invited to contact the Coordinating Agent, Osy Kamalu & Associates – 09051331416; 08036274306 for guided inspections of the properties and enquiries. The properties will be sold on an “as is” basis.

For further information and clarification please visit our website www.amcon.com.ng or email AMCONatamcon.disposals@amcon.com.ng.

SIGNED:
The Secretary, Asset Sale & Negotiation Committee
417, Tigris Crescent Off Aguiyi Ironsi Street, Maitama, Abuja.

This publication and process neither creates any commitment nor establishes any binding or legal obligation on the seller. All costs 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.

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