Sunday, September 2, 2012

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

Sunday, August 5, 2012

CHOSAAN BASES FOR VALUATION AND COMMENTS

CHOSAAN BASES FOR VALUATION AND COMMENTS

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.

BASES FOR VALUATION
The valuation is based on Estimated Market Value as at January 2012.

Market value is the estimated amount for which an asset should exchange on the date of valuation between a willing buyer and a willing seller in an arm’s-length transaction after proper marketing wherein the parties had acted knowledgeably, prudently and without compulsion”
Source: International Valuation Standards

The method used in arriving at the value is the Depreciated Replacement Cost Method for the buildings and the Comparison Method for the land.

This valuation is carried out in accordance with International Valuation Standards

VALUATION
It is our opinion that the Current Estimated Open Market Value of the above property as at
January 2012 is D13,905,000.00 (Thirteen million, nine hundred and five thousand Dalasi).

DATE:
17th January 2012
Prepared by
Malick Njai - B.Sc (Hons), MRICS
(Chartered Quantity Surveyor)

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.

COMMENTS
This valuation only covers fixed assets, i.e. Land, Building(s) and other improvements. It excludes equipment, plant and furniture.

This report has been prepared, unless otherwise stated, in accordance with the guidance notes of the International Valuation Standards.

We have not been advised of any outstanding notices, disputes or encumbrances, which would otherwise affect the value.

In accordance with the terms of our instructions, we have not undertaken a structural survey or arranged a test of any of the services and are therefore not able to report that the structure is free from any structural faults.

No provision has been made in respect of any retention of title claims upon goods supplied, and for which values are contained in this report.

This report has been prepared having regard to the economic and property market conditions as at January 2012. Any change in these conditions may materially affect the views expressed.

Saturday, August 4, 2012

BASES FOR VALUATION AND COMMENTS

BASES FOR VALUATION AND COMMENTS

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.

BASES FOR VALUATION
The valuation is based on Estimated Market Value as at January 2012.

Market value is the estimated amount for which an asset should exchange on the date of valuationbetween a willing buyer and a willing seller in an arm’s-length transaction after proper marketing wherein the parties had acted knowledgeably, prudently and without compulsion”
Source: International Valuation Standards
The method used in arriving at the value is the Depreciated Replacement Cost Method for the buildingsand the Comparison Method for the land. This valuation is carried out in accordance with International Valuation Standards

VALUATION

It is our opinion that the Current Estimated Open Market Value of the above property as at
January 2012 is D13,905,000.00 (Thirteen million, nine hundred and five thousand Dalasi).

DATE:
17th January 2012
Prepared by
Malick Njai - B.Sc (Hons), MRICS
(Chartered Quantity Surveyor)

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.

COMMENTS
This valuation only covers fixed assets, i.e. Land, Building(s) and other improvements. It excludes equipment, plant and furniture. This report has been prepared, unless otherwise stated, in accordance with the guidance notes of the International Valuation Standards.

We have not been advised of any outstanding notices, disputes or encumbrances, which would otherwise affect the value.

In accordance with the terms of our instructions, we have not undertaken a structural survey or arranged a test of any of the services and are therefore not able to report that the structure is free from any structural faults.

No provision has been made in respect of any retention of title claims upon goods supplied, and for whichvalues are contained in this report.

This report has been prepared having regard to the economic and property market conditions as at January 2012. Any change in these conditions may materially affect the views expressed.

Thursday, August 2, 2012

CHOSAAN BUILDING(S)/IMPROVEMENTS

CHOSAAN BUILDING(S)/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.

BUILDING(S)/IMPROVEMENTS
Two-Storey Reception & Administration Block

This building has a total floor area of 72 m2 or thereabout and comprises of a veranda, an office, a store and a reception area on the ground floor; and a balcony with offices on the top floor.

It is constructed with concrete frame, cement/sand block wall cladding, rendered and painted.

The roof is made of non-metallic ‘onduline’ roofing sheets on steel and timber members with gypsum ceiling.

The doors are timber panel; the windows are glazed aluminium sliding and the floor is concrete finished with porcelain floor tiles.

Two-Storey Night Club Building
The building has a total floor area of 400 m2 or thereabout and comprises of a D. J’s cage, a dancing hall, an office with toilet, a bar, a kitchen and five toilets on the ground floor; and on the top floor balconies, a bar and five toilets.

It is constructed with concrete frame, fired red brick walls rendered and painted.

The roof is made of nonmetallic ‘onduline’ roofing sheets on steel and timber members with a mix of gypsum and plywood ceiling. The doors are a mix of timber panel and steel; the windows are glazed aluminium sliding and the floor is concrete finished with porcelain floor tiles.

Two-Storey Training Block
The building has a total floor area of 580 m2 or thereabout and comprises of a veranda, five training rooms and toilets on the ground floor; and on the top floor, a balcony, a hall, a sitting room en-suite with toilet and toilets on the top floor.

It is constructed with concrete frame,
cement/sand block wall cladding rendered and painted.

The roof is made of reinforced concrete slab with gypsum ceiling; the doors are timber panel and the windows are glazed aluminium sliding. The floor is concrete finished with gypsum floor tiles.

Monday, June 4, 2012

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.

Saturday, March 3, 2012

PROPERTY OF CHOSAAN ENTERPRISES

ASSIGNMENT: VALUATION: PROPERTY OF CHOSAAN ENTERPRISES AT
THE BIJILO TOURISM DEVELOPMENT AREA – SUB-LEASE
SERIAL REGISTRATION NUMBER K406/2009.

LOCATION OF PROPERTY: BIJILO TOURISM DEVELOPMENT AREA, KOMBO NORTH
DISTRICT, WEST COAST REGION, THE GAMBIA.

CLIENT: LAMIN SILLAH T/A CHOSAAN ENTERPRISES

Prepared by:
Sphinx Associates
Project and Valuation Consultants
61 Kairaba Avenue
Fajara
Tel: 43 75 668
Fax: 43 75 669
E-mail: sphinx@qanet.gm

January 2012

Wednesday, January 4, 2012

CHOSAAN PROPERTY INFORMATION

CHOSAAN PROPERTY INFORMATION

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

Sit-outs (11 Nr)
The sit-outs are eleven 8 m2 or thereabout open-sided structures set against the fence. They are each constructed with concrete frame with the roof made of non-metallic ‘onduline’ roofing sheets on steel and timber members with plywood ceiling. The floors are concrete finished with
broken ceramic tiles.

Bar
The bar is an 11 m2 or thereabout open-sided structure set against the night club building. It is constructed with concrete frame with the roof made of non-metallic ‘onduline’ roofing sheets on timber members with plywood ceiling.

It has a concrete counter finished with porcelain tiles and the floor is concrete finished with porcelain tiles.

Stage
The stage is a 28 m2 or thereabout open-sided structure set against the fence and is constructed with concrete frame with the roof made of nonmetallic ‘onduline’ roofing sheets on steel and timber members with plywood ceiling. The floor is concrete finished with broken tiles.

Generator House
The building has a total floor area of 24 m2 or thereabout and comprises of a generator room. It is constructed with load bearing cement/sand block wall cladding rendered and painted.

The roof is made of non-metallic ‘onduline’ roofing sheets on steel and timber members with no ceiling. The doors are steel and the floor is concrete.

Toilet Block
The toilet block has a total floor area of 19 m2 or thereabout and comprises of two toilets. It is constructed with load bearing cement/sand block wall cladding rendered and painted.

The roof is made of nonmetallic ‘onduline’ roofing sheets on timber members with plywood ceiling.

The doors are timber panel; the windows are steel and the floor is concrete finished with ceramic floor tiles.