VALUATION OF AGRICULTURAL PROPERTY/INCORPOREAL/CORPOREAL ASSETS

VALUATION DETAILS

Valuation Report On Agricultural Property/Incorporeal Assets Located Along Orita-Orisunbare/Okerete Village, Saki West Local Government Area, Saki, Oyo State. Belonging To S.M.K Farms For Keystone Bank Limited.

DESCRIPTION OF THE PROPERTY/ASSETS:

Classification Of Items Of Valuation:

Property A

  • (A) Land:
      • Phase A – 2,000 Hectares (4,942 Acres) In Size
      • Phase B ¬- 2,000 Hectares (4,942 Acres) In Size
      • Phase C – 1,000 Hectares (2,471 Acres) In Size

    (B) Cashew Plantation:

  • 48,000 Stands Are Planted On 400 Hectares (988.4 Acres) I.E. 120 Stands Per Hectare And Are All Matured. The Matured Stands Are Less Than 3 Years Old.

Site Description:

The Site Covers An Area Of Approximately 50,000,000 Square Meters (5,000 Hectares)

VALUATION DETAILS

ASSET TYPE: AGRICULTURAL PROPERTY/INCORPOREAL ASSESTS
VALUATION DATE: July, 2019
VALUATION PURPOSE: MORTGAGE
OPINION OF VALUE: NGN 1,925,800,000.00
VALUATION FIRM: TUNDE ADEJUMO & CO