Key details

Address

Newton street behind University of Benin

Condition

Old

Furnishing

Unfurnished

Property Type

Hostel

Square meters

465 sqm

Bungalow for Hostel Construction Behind UNIBEN Highlights

• Prime Location Near University — Properties situated behind major universities often benefit from high demand due to student and staff proximity. This location can offer consistent rental income potential.
• Hostel Property Type — Hostels are designed to accommodate multiple residents, typically in shared rooms. They are a common housing solution for students and transient populations.
• Significant Land Area — A substantial land area of 465 square meters provides ample space for expansion or additional facilities. This can be a key advantage for development.
• Potential for Renovation — Older properties, while requiring updates, offer a blank canvas for modernization. Buyers can tailor renovations to meet current market demands and aesthetic preferences.
• Unfurnished for Customization — An unfurnished property allows new owners to select and install their own fixtures and furnishings. This provides flexibility in design and cost management.

Description

• 465 sqm plot (50ft x 100ft) suitable for hostel development. • Located on Newton Street, immediately behind the University of Benin. • Potential for significant rental income, estimated up to NGN 700,000 per annum for self-contain units, depending on structure and facilities. • Existing bungalow structure on the property. • Unfurnished property. • Old condition, may require renovation or demolition for new construction.

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