Invitation to Bid for Landed Properties at the New Capital Properties Limited

The New Capital Properties Limited company was incorporated in 1995 and commenced operations in 1998. It is a wholly-owned subsidiary of NNDC. The company’s main activities include property management, property development, provision of consultancy and brokerage services and carrying out the business of a mortgage institution and building society. At present, the company collect rent on NNDC properties only.

• Plot 501, Cadastral zone, A.O Central Business District Phase 1, measuring 8,355.7sqm.

• H12, Sani Daura Housing Estate, Damaturu, Yobe State: A two- bedroom semi-detached bungalow on a 475 square metres land area.

• A vacant plot of land located at A5, Somali street, Barnawa Kaduna: Measuring 674.51 square metres.
• A vacant plot of land located at A6, Somali Crescent, Barnawa, Kaduna. measuring 957 square meters.
• 4/6, Nagwamatse House, Ahmadu Bello Way, Kaduna: MultiPurpose built high rise office complex on eleven floors with elevator well extending to seventeen floors and a basement floor. There are 12 other ancillary building on 26,728.36 square meters.
• Imam House, Adjacent to Nagwamatse House, Ahmadu Bello Way, Kaduna: A Multi-purpose 4 Storey building suitable for office accommodation and other commercial purposes which sits on a total land area of 1,672.87 square metres.
• Malali by Tipper Garage, off Rabah Road, Kaduna (A) - A Storey building of block of apartments with boys quarters comprising of flats Nos. 1,2,3 & 4 each of which are to be sold in single units. Plot size is 1,658.17 square metres.
• Malali by Tipper Garage, off Rabah Road, Kaduna (B) - A Storey building of block of apartments with boys quarters comprising of flats Nos. 1,2,3 & 4 each which are to be sold in single units. Plot size is 1605.67 square metres.
• Malali by Tipper Garage, off Rabah Road, Kaduna (C) - A Storey building of block of apartments with boys quarters comprising of flats Nos. 1,2,3 & 4 each of which are to be sold in single unit. Plot size measuring 1,658.17 square metres.
• Malali by Tipper Garage, off Rabah Road, Kaduna (D) -  A Storey building of block of apartments with boys quarters comprising of flats Nos. 1,2,3 & 4 each of which are to be sold in single unit, Plot size measuring 2019.50 square metres.
• Malali by Tipper Garage, off Rabah Road, Kaduna (E) - 4 Bedroom bungalow with boys quarters situated within a land area of 1,675.618 square metres.
• Malali by Tipper Garage, off Rabah Road, Kaduna (F) - 4 Bedroom bungalow with boys quarters situated within a land area of 1,675.10 1 square metres.
• Malali by Tipper Garage, off Rabah Road, Kaduna - 4 bedroom bungalow with boys quarters situated within a land area of 1,721.171 square metres.
• Malali by Tipper Garage, off Rabah Road, Kaduna (G) - 4 Bedroom bungalow with boys quarters situated within a land area of 1,746.61 square metres.
• 7, Isa Kaita Road, Kaduna (House A): A block of 4 Bedroom bungalow with Boys Quarters, within a perimeter measuring 3,190.44 square metres.
• 9, Isa Kaita Road Kaduna (House B): A Block of 4 Bedroom bungalow with Boys Quarters, within a perimeter measuring 3,188.92 square metres.
• 11, Isa Kaita Road (House C): A Block of 4 Bedroom bungalow with boys Quarters situated within a land area of 3,191.72 square metres.
• Lot 4 (Lagos)
• 220A Apapa Road Opposite 7up Bottling Company Ijora- Lagos. Approximately 6,055.0 Square metres.
• Lot 5 (Minna)
• B55, Tunga Low Cost, Tunga Minna: A unit of Terrace 2 Bedroom flat residential building on a land area measuring 234 square metres.

• All bids shall be conducted in compliance with the following procedures as outlined below:
• All properties shall be sold in an open Auction by way of competitive bidding and must be accompanied by bank draft of 10% of the value of the submitted bid.
• N10,000.00 (Ten Thousand Naira) only as processing fee shall be paid into the New Capital Properties Limited designated Bank Account and evidence of payment must be attached.
• Opening of bids shall be made on the same date and to be conducted in the premises of New Capital Properties Limited (NCPL).
• No property shall be disposed below the reserved value/price. Unsuccessful bidders shall be required to retrieve their 10% bond within Two weeks of the completion of opening of the bid excluding #10,000.00 (non-refundable fees) paid.
• The balance of the 90% of the bid shall be paid by the declared winner within 8 weeks from the date of the offer.
• Where a successful bidder fails to comply with the payment terms, the non-refundable deposit (being 10% of the purchase price) shall be forfeited and the proposed transaction becomes terminated. Any payment in the excess of the 10% deposit shall be refunded.
• Occupants shall have Right of First Refusal except where there are multiple tenants.
• For Residential properties, the highest bid price will be offered to the occupant of the property to exercise the Right of First Refusal by effecting payment of #10,000.00 non-refundable deposit within fourteen (14) days and to complete payment for the property within 8 weeks from the date of the offer.
• If the occupant fails to exercise the Right of First Refusal, the preferred bidder shall be allowed to complete the transaction.
• In the case of residential houses in occupation by the tenant, failure to accept offer and/or comply with the payment terms will lead to immediate eviction
• All interested members of the public shall be allowed to inspect the properties of their choice after submission of expression of interest to New Capital Properties Limited (NCPL).
• New Capital Properties Limited, at its sole and absolute discretion, reserves the right to withdraw any and all properties hereby advertised through publication in the National dailies.

• This publication is for information purpose only and does not constitute an offer to transact with any party nor does it constitute a commitment or obligation on the part of New Capital Properties Limited to sell the properties.
• The Company shall not be responsible for any cost or expense incurred by any interested party(ies) in connection with any response to this invitation and or the preparation or submission in response to this enquiry.
• The Company reserves the right to annul the selection process at any time without incurring any liability and assigning any reason thereof.