TRUSTFUND PENSIONS LIMITED

1200
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TRUSTFUND PENSIONS LIMITED

PROPERTY ADDRESS: Alagbon Towers, No.6, Oba Adeyinka Avenue, Ikoyi, Lagos

TITLE: C of O granted by Federal Ministry of Housing

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LANDSIZE (SQM): 11473.784 sq mtrs

PROPERTY DETAILS:
• 3 Nos of high rising residential blocks on twelve (12) floors consisting of twenty four (24) Nos of three (3) bedroom apartments with one (1) room boys quarters each
• A block of 6 Nos of 3 bedroom flats
• Security house

RESERVED PRICE (N) 8,422,663,333.33

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 to disclose any further information as may be required by the Sales Agents.

BIDDING PROCESS:
1. Disposal of the property will be by competitive bidding and bids must not be below the reserved price.
2. Bid must be made on standard bidding form and submitted together with duly completed KYC form and 5% (Five Percent) of the bid amount in Certified Bank Drafts made payable to TRUST FUND/DPFC. Bidding and KYC forms can be obtained from the office of the following Sales Agents:
a. (i) Gersh Henshaw & Co., Prospect House, 80 MCC Road, Calabar, Cross River.
Tel: 08033074677; 08023165618
E-mail: [email protected]

(ii) Gersh Henshaw & Co., Suite 103, Dolphin Plaza, Dolphin Estate, Ikoyi, Lagos.
Tel: 08033074677; 08023165618
E-mail: [email protected]

b. Mamud Momodu & Associates, Ground Floor, Rear Wing B, Labour House, Plot 820/821 Central Business District, Federal Capital Territory, Abuja.
Tel: 08033146732; 08099655979
E-mail: [email protected] and [email protected]
c. Sola Badmus & Co., Water Front Plaza, Opp. Mr. Biggs, Plot O, 1st Avenue, Festac Town, Lagos.
Tel: 08023071614; 08035777438
E-mail: [email protected]

3. Bid must be submitted in sealed envelopes with “Bid for Property” inscribed on the top left corner of the envelope.

4. The successful bidders will be required to pay the 95% (Ninety-five Percent) balance of the bid price within 90 (Ninety) calendar days of receipt of the approval of sale from the National Pension Commission, failing which the 5% (Five Percent) deposit becomes non-refundable and TRUSTFUND PENSION LIMITED will be free to offer the property to other buyers.

5. Bids cannot be withdrawn or cancelled once submitted; where this occurs the initial 5% (Five Percent) deposit becomes non-refundable.

SUBMISSION OF BIDS:
1. Bids must be addressed and submitted to:
Mamud Momodu & Associates, Ground Floor, Rear Wing B, Labour House, Plot 820/821 Central Business District, Federal Capital Territory, Abuja.

2. The deadline for submission of bids is Wednesday 28th March, 2018 at 12:00pm.

OPENING OF BIDS:
1. Bids will be opened on Wednesday 28th March, 2018 at 1:00pm. The Venue will be Comrade Olaitan Oyerinde Auditorium, Pascal Bafyau Labour House, Plot 820/821, Central Business District, Abuja.
2. Bidders and/or their representatives are expected to be present at the bid opening.
3. The highest bid for the property will be the winner SUBJECT to the bid being equal to or above the reserved price.
4. Notwithstanding paragraph 3 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.
5. 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.
6. The bids will be announced immediately after opening and bidders and/or their representatives will have the right to scrutinize the results after the exercise.
7. The return of the certified bank drafts to the unsuccessful bidders will be processed immediately the bidding closes and winner announced.

Please note that TRUSTFUND PENSION LIMITED will NOT be liable for any delays due to circumstances outside its control.

PROPERTY INSPECTION
Interested bidders can contact any of the Sales Agents mentioned above for guided inspection of the property and further enquiries. The property will be sold on an “as is” basis (in the condition they presently exist).

SIGNED:
TRUSTFUND PENSIONS LIMITED
9th Floor, Pascal Bafyau Labour House,
Plot 820/821 Central Business District,
Federal Capital Territory, Abuja

SOURCE: THE GUARDIAN

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