Proposed Retail Mall Development in Ibadan

Retail Mall Development
Proposed Retail Mall Development in Ibadan B2MASTER 10:59 pm

Project Info

Client Private Property Developer
Skills Transaction Advisory | 2019

Project Description

Proposed Retail Mall Development: Project Description

The mall is a Joint Venture between University of Ibadan and a Private Developer and its is located in the thriving central district of Agbowo, North-West to the popular upmarket district of Agodi and 13km from the CBD. This development is well positioned to capitalise on the young university population and growth into the future demand as a result of the population boom on the back of the Lagos-Ibadan railway project.

Situated on a 24,500m2 parcel of land, Primus Mall will consist of two income producing components.

  • Retail space for grocery, food, cinema, entertainment and others.
  • Digital Advertisement

The available lettable space at Primus Mall based on the recent approved design stood at 6,503 sqm.

Proposed Retail Mall Development: Actions Taken

Brickstone was contracted to:

  • Market survey of the Ibadan city’s retail market for data collection narrowed down to contemporaries and neighbourhood competitors’ data.
  • Draft and send out RFP for the selection process of the project transactional Lawyer and all the technical team for the project
  • Finalise the approval of the Land Lease Agreement and the signing of the Joint Venture Agreement between the client and the University of Ibadan authority.
  • 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 and Business Plan that would communicate succinctly the value proposition of the project to investors.
  • Introduction of client to high networth individuals and potential investors and the presentation of the Project Business Plan to prospective investors.

Services includes the following:

  • Transaction Advisory
  • Information Memorandum
  • Financial Modelling
  • Development Advisory