Commercial Real Estate Redevelopment: Project Description

The objective of the brief was to determine the highest and best use analysis for the development warehouses to determine their viability and optimal use after the commercial real estate re-development or refurbishment. AG Leventis Nigeria Plc desired that their land at Iddo be analyzed for optimal returns.

The Iddo property is a mixed-use development entailing a high rise building for offices, a mini market place and workshop, blocks of residential apartment and a worship and recreational facility.

The Oyingbo property is also a mixed-use development consisting of the defunct mainland hotel, workshops, offices and warehouse.

Commercial Real Estate Redevelopment: Actions Taken

Brickstone was contracted to:

Inspect and evaluate the physical, economic and legal condition of the property
Project the cost estimates for redevelopment or refurbishment of the property and the expected revenue for the respective options.
Analyse the neighbourhood market to establish the Highest and Best use of the property
Recommend appropriate transaction modalities and structuring and executing fund raising for the project.
Develop a Comprehensive Financial Model to communicate the financial viability of the project to investors.
Develop an Information Memorandum that would communicate succinctly the value proposition of the project to investors.

Services includes the following:

Property, Location and Market Analysis
Analysis to determine the Total Leasable Space in all the properties visited.
Determine the Level Of Occupancy and the total cash inflow from the tenancy of the identified properties
Get information on the level of Improvement Budgeted for the Properties
Determine Future Cashflow of the property, assuming the improvements are made or not
Financial Modelling
Project Information Memorandum