Molyko Student Residence
Molyko, Buea
Asking Consideration
XAF 128,000,000
one-off consideration
Overview
An income asset rather than a home: sixteen self-contained studios on three floors, walking distance from the University of Buea campus gates. Metered per unit, water tanked and pumped, and a caretaker apartment on the ground floor. Occupancy has not dropped below 90% in four academic years.
What is included
- 16 self-contained studios
- Per-unit electricity metering
- Caretaker apartment
- Water tank and pump system
Specifications
- Plot area
- 700 m²
- Built area
- 540 m²
- Units
- 16
- Gross yield
- 13.8%
- Year built
- 2020
- Title
- Land certificate
Property Location
Molyko, Buea
The contract
This listing is governed by Deed of Sale — Income Property (ref. XS-RES-005). Download it, read it, mark it up — then come back to us with what you want changed.
1Parties and subject
This agreement is made between Xserial SARL ("the Company"), the sole publisher and manager of the asset described herein, and the counterparty identified in Schedule A ("the Client"). The subject of this agreement is the asset referenced XS-RES-005, described in Schedule B together with its annexes, plans and inventory.
2Consideration and payment
A deposit of 15% of the stated consideration is payable on execution of this agreement and is applied against the total. The balance follows the schedule set out in Schedule C. Payments are made to the Company's designated account only; no agent, introducer or third party is authorised to receive funds on the Company's behalf.
3Title, documentation and warranties
The Company warrants that it holds or is duly mandated over the asset, that the title documentation supplied is authentic, and that the asset is free of undisclosed encumbrance, litigation or third-party occupation at the date of execution. Copies of the survey plan, title instrument and, where applicable, building permit are annexed.
4Tier — Standard
The asset is released on Xserial's standard commercial terms. Documentation, title verification and structural inspection reports are supplied as annexes. Amendments to the payment schedule require written approval from Xserial.
5Inspection and acceptance
The Client is entitled to inspect the asset, accompanied by a surveyor or engineer of their choosing, prior to acceptance. Defects identified at inspection are recorded in a joint schedule and remedied, or reflected as a price adjustment, before completion.
6Termination
Either party may terminate for material breach not remedied within thirty (30) days of written notice. Where the Company terminates without cause, sums received are refunded in full within twenty-one (21) days. Where the Client withdraws without cause after the cooling-off period, the deposit is forfeited up to the documented costs incurred.
7Governing law and dispute resolution
This agreement is governed by the laws of the Republic of Cameroon and the OHADA Uniform Acts where applicable. The parties will attempt amicable settlement for thirty (30) days before referring any dispute to arbitration in Douala under the CCJA rules, in English or French at the Client's election.
8Notices
Notices are served in writing to the addresses in Schedule A, by hand, registered post or email with confirmed receipt. Notices to the Company are copied to contracts@xserialestates.com.
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