CHOSAAN GRAND TOTAL OTHER STRUCTURES/IMPROVEMENTS

CHOSAAN GRAND TOTAL OTHER STRUCTURES/IMPROVEMENTS

VALUATION: PROPERTY OF CHOSAAN ENTERPRISES AT THE BIJILO TOURISM
DEVELOPMENT AREA, KOMBO NORTH DISTRICT, WEST COAST REGION,
THE GAMBIA; SUB-LEASE SERIAL REGISTRATION NUMBER K406/2009 –
FOR LAMIN SILLAH T/A CHOSAAN ENTERPRISES.
Prepared by Sphinx Associates January 2012

CONDITION
9.1 We have not been requested nor have we carried out a structural survey of the buildings.

FURNITURE &EQUIPMENT
10.1 Excluded.

VALUATION
BUILDINGS
a) Two-Storey Reception Block – Floor area 72 m2
b) Two-Storey Night Club Building – Floor area 400 m2
c) Two-Storey Training Block – Floor area 580 m2
d) Sit-outs (11 Nr) – Floor area 8 m2 each
e) Bar – Floor area 11m2
f) Stage – Floor area 28 m2
g) Generator House – Floor area 24 m2
h) Toilet Block – Floor area 19 m2

TOTAL VALUE = D9, 765,000.00

OTHER STRUCTURES/IMPROVEMENTS
a) Fence, Pavement & Landscaping
b) Borehole, Pump & Water Storage Tanks

TOTAL VALUE = D605, 000.00
LANDED ASSET
a) Total Land area 1,414.67 m2
TOTAL VALUE = D3, 535,000.00
GRAND TOTAL = D13,905,000.00

ENTERPRISES AT THE BIJILO TOURISM DEVELOPMENT AREA

ENTERPRISES AT THE BIJILO TOURISM DEVELOPMENT AREA

VALUATION: PROPERTY OF CHOSAAN ENTERPRISES AT THE BIJILO TOURISM
DEVELOPMENT AREA, KOMBO NORTH DISTRICT, WEST COAST REGION,
THE GAMBIA; SUB-LEASE SERIAL REGISTRATION NUMBER K406/2009 –
FOR LAMIN SILLAH T/A CHOSAAN ENTERPRISES.
Prepared by Sphinx Associates January 2012

INTRODUCTION
1.1 On January 13th 2012, Sphinx Associates received instruction from Mr Lamin Sillah to carry out a Valuation of the above-mentioned property.

1.2 In accordance with the instruction, Sphinx Associates have prepared the following report to establish the Current Estimated Open Market Value of the property.
1.3 Messrs Buba Jammeh and Ali Jobe of Sphinx Associates, accompanied by Mr Lamin Sillah, inspected and surveyed the property on January 16th 2012.

PURPOSE OF VALUATION
2.1 The purpose of this valuation is to establish the Current Estimated Open Market Value of the property to serve as a guide for Sale Purposes.

TYPE OF PROPERTY
3.1 Commercial.

LOCATION
4.1 The property is located by the side of Coco Ocean Hotel Complex off Bertil Harding Highway at the Bijilo Tourism Development Area in the Kombo North District, West Coast Region, The Gambia and is easily accessible.

TENURE
5.1 The property is held under a renewable 50-year Lease from the Government of The Gambia vide Sub-Lease Serial Registration Number K406/2009.

DESCRIPTION
6.1 The property, with a total area of 1,414.67 m2 or thereabout, is secured with a cement/sand block wall fence with the yard area landscaped and the walkways paved with concrete and finished with broken ceramic tiles.

It is developed with a two-storey reception & administration block, a two-storey night club building, a two-storey training block, eleven sit-outs, a bar, a stage, a generator house and a toilet block. The property has a total built-up area of approximately 56%.

UTILITIES
7.1 The property is connected to both the NAWEC electricity grid and water distribution network with a borehole system complete with pump and two 2000-litre water storage tanks.

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