IKOYI PROJECT

1. GLOVER HEIGHTS
...an investment opportunity
Presented by

2. Objectives
 Project information
◦ Description
◦ Plans
◦ Team
◦ Financials
◦ Next Steps
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3. bedrooms.
GLOVER HEIGHTS
Contemporary infrastructure,
modern amenities and a
locale that has proven
investment value for realtors.
Glover Heights presents an
opportunity to realize
maximal value for
stakeholders
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4. GLOVERHEIGHTS…..GLOVERROAD,IKOYI
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10 Storey residential tower located in the
heart of Ikoyi, with breathtaking views.
Contemporary architectural design and
construction management
Conveniently located in a serene and quiet
neighborhood.
All infrastructure and amenities to meet
immediate residential needs provided.
Luxurious ambience meeting international
standards for living environment
Features
The vision is to provide a value added real estate development with
fully equipped and serviced luxury residential apartments +
spaces…

5. Each flat will occupy 200sqm of built up living space
comprised of:
 Ante room and a visitors toilet.
 A spacious living and dinning room with balcony.
 Kitchen and storage space
 Masters Bedroom and a master bathroom with
balcony.
 2 Bedrooms with toilet and bath
 Servant or maids room with toilet.
Unit Descriptions 4

6. 2 elevators, a staircase and a service
staircase.
Temperature regulated swimming pool.
2 car park spaces per apartment and a visitors
car park.
Security and surveillance via CCTV.
Access control.
Fully Equipped gymnasium.
Facilities 5

7. SITE LOCATION - Glover Road in Ikoyi, Lagos state.
ZONING – High density residential area classification by Lagos State
AREA OF PLOT – 2400 sq. m
LAGOS STATE SETBACK & DEVELOPMENT GUIDELINES –
9M building line setback from the major road
4.5M building line setback from other boundaries
CONSTRUCTION DURATION – 21 months
BUILDING CONTRACT – Firm and fixed with main body of contract
subdivided into 2 main contracts for the block and external works and
sub contracts for specialist works.
PROJECT MANAGEMENT – To be provided by developer throughout
the lifespan of the project.
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Key Considerations

8. Timeline
Phase 1
Land
Acquisition
(2 weeks)
Phase 2
Documentation
1. Title
Registration
2. Design
3. Approval
(3 Months)
Phase 3
Piling/Sub-
structure
(2 Months)
Phase 4
Construction/
Super-
structure
Finishing
(18 Months)
Phase 5
Commission
ing/Hand-
over
On-
boarding
(3 Months)
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9. 8
GLOVERHEIGHTS…..GLOVERROAD,IKOYI
G
L
O
V
E
R
R
O
A
D
ENTRY
GH
POWER / MTCE.
HOUSE
MAIN BUILDING
SQUASH COURT

10. 9
GLOVERHEIGHTS…..GLOVERROAD,IKOYI
GROUND FLOOR
2
3
4
4
a b c d e f g
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2
3
4
4
h i j k l
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11. 10
a b c d e f g
1
2
3
4
FIRST FLOOR
4
h i j k l
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GLOVERHEIGHTS…..GLOVERROAD,IKOYI

12. 11
a b c d e f g
1
2
3
4
2ND - 5TH FLOOR
4
h i j k l
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GLOVERHEIGHTS…..GLOVERROAD,IKOYI

13. 12
a b c d e f g
1
2
3
4
7th - 10TH FLOOR
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h i j k l
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GLOVERHEIGHTS…..GLOVERROAD,IKOYI

14. 13
PENTHOUSE FLOOR
2
3
4
4
a b c d e f g
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h i j k l
GLOVERHEIGHTS…..GLOVERROAD,IKOYI

15. 14
FRONT ELEVATION
GLOVERHEIGHTS…..GLOVERROAD,IKOYI

16. 15
LEFT-SIDE ELEVATION
GLOVERHEIGHTS…..GLOVERROAD,IKOYI

17.  VIEWS…
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GLOVERHEIGHTS…..GLOVERROAD,IKOYI

18. FRONT ELEVATION
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19. RIGHTSIDE ELEVATION
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20.  The contemporary design features of GLOVER HEIGHTS
requires the skills of an advanced construction company.
 We have had several discussions with representatives of
SD CONSTRUCTION COMPANY, presently working in South
Korea and Japan. They have communicated their willingness to
be main contractors for this project.
 Their company profile will be forwarded for your consideration
before construction phase of the project. Their expertise,
exposure and experience will demonstrated in the delivery and
execution of this project.
 Other in-country subcontractors will also be contracted to
handle specific aspects of the project.
Main Contractor 19

21.  Architects: SIT+E
 Structural Engineers; Messrs Structel (Nig) ltd
 Electrical Engineers; Almog Engineering (Nig)
Ltd.
 Mechanical Engineers; Raji and Co. (Nig) ltd.
 Quantity Surveyors; HOS Consult (Nig) Ltd.
 Project Managers; Sheltamatics (Nig) Ltd
Design Team 20

22. Rationale
The high cost of acquisition in this area only makes economic sense
when vertical development is adopted. As such cost of land, suitability,
planning restrictions and title are all the factors which we considered
prior to our choice of this property.
 Location; Glover Road, Ikoyi, Lagos.
 Size; 2400 Sqm.
 Amount; N550M(Five hundred and fifty million naira only)
 Agency; 5% of cost of Land.
 Lagos State Govt Planning Approval; N75M
 Professional design fees N12M.
TOTAL COST OF LAND ACQUISITION AND APPROVALS; N652.5M
Considering a total of 17.5 apartments, (the penthouse is considered as
1.5unit).
Financials – Land Acquisition 21

23. Financials – Construction
 Piling, installation of two elevators, swimming
pool, security house, two generator house and 17
apartments will be delivered at an estimated cost of
N35M for 16 apartments of 3 bedroom each
 The penthouse apartment which comes with 2
servant/ maids room will be built at a cost of N53M.
This gives us an Estimated total construction cost
of N613M.
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24. A final itemised bill of quantities will be presented by our
quantity surveyors when the working drawings are finalised.
1. Land cost, design and approval fees = N652.5
2. Construction cost and Services.... = N613M,
3. Project management fees and overhead cost
(10% of the estimated total project cost) = N126.5M
Therefore, the Estimated total project cost = N1.392B
Financials – Total Project Cost 23

25. Financials - Contributions
1. Land Acquisition:
a) Each 3 bedroom unit will contribute N37.3M
b) The penthouse will contribute N56M.
c) Total - N652.5M
2. Construction:
a) Each 3 bedroom unit will contribute N35m
b) The pent house will contribute N52.6m
c) Total – N613M
3. Project Management Fees:
a) Each 3 bedroom unit will contribute N7.25m
b) The Penthouse will contribute N10.86m.
c) Total – N126.86M
4. Total individual contribution for the 3 bedroom flats will be
N79.75M while the Penthouse apartment will Contribute
N119.46M
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26. Conclusion
Comparing the going market cost of acquiring a
3bedroom luxury and serviced apartment in
this neighbourhood, which comes to about
N150M, this is an investment opportunity to
purchase the same product at about half this
price for N80M off plan. This investment on
commissioning, can be sold for a 100% yield
or kept as an asset.
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27. About Us
 Sheltamatics Ltd is focused on the property
sector, providing a comprehensive service
suite for owners and investors including
◦ Designing
◦ Development
◦ Construction
◦ Acquisition
◦ Sales
◦ Project Management
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28. About Us
 Active in the Nigerian property sector since
1996, we have handled major projects
nationwide. Some of our bigger projects were
delivered in Lagos, Abuja, Port Harcourt,
Akwa Ibom and Asaba.
 Our offices are in Lekki, Lagos and we have
an experienced and talented team, as well as
a robust network of leading professionals in
the industry.
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