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Building A Student Hostel : Profitability And Challenges - Properties (3) - Nairaland

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Re: Building A Student Hostel : Profitability And Challenges by Reflector: 10:36pm On Jun 26, 2011
I found thisinteresting article on Investing in Student Hostel you may want to take a look at it http://propertyinvestorng.com/service/in_hostel.html
Re: Building A Student Hostel : Profitability And Challenges by hugooh42(m): 5:25am On Jun 28, 2011
@Reflector ,Do you think that building a 20 bedroom(ensuite) hostel in a one storey building in form of "face me i face you "will be a better option on lets say 100 by 60 land?

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Re: Building A Student Hostel : Profitability And Challenges by hugooh42(m): 5:25am On Jun 28, 2011
@Reflector ,Do you think that building a 20 bedroom(ensuite) hostel in a one storey building in form of "face me i face you "will be a better option on lets say 100 by 60 land?
Re: Building A Student Hostel : Profitability And Challenges by gtrust: 7:06am On Jun 28, 2011
Reflector, have a look at this:

WHERE ARE THE ESTATES?
Harmony Gardens is in Ofada, Mowe, Obafemi Owode Local Government Area, Ogun State. Platinum Park is in Magboro, Ifo Local Government Area, Ogun State. Prestige City is in Lekki Peninsula, Eti Osa Local Government Area, Lagos State.



WHAT IS THE PRICE PER PLOT FOR RESIDENTIAL PLOT?
Residential is N600,000.00 per plot for residential (subject to review) for Harmony Gardens, Mowe; N1million per plot (one off) and N1.5million per plot payable over 15months for Platinum Park, Magboro; N6million per plot for Prestige City Lekki Peninsula

WHAT IS THE SIZE OF A RESIDENTIAL PLOT?
648 square meters or 60ft X 120ft or 18meters X 36meters
Re: Building A Student Hostel : Profitability And Challenges by Reflector: 7:50am On Jun 28, 2011
hugooh42:

@Reflector ,Do you think that building a 20 bedroom(ensuite) hostel in a one storey building in form of "face me i face you "will be a better option on lets say 100 by 60 land?

I have done a proof of concept for you and it is feasible. Below is a 20 room student hostel (2 floors each with 10 rooms) with a restaurant, provision store and hairdressing saloon/barber shop while above this you can have the caretakers room and store to keep extra furnitures (beds, mattresses etc), with parking space for a few cars, all this on a 100 by 60 land. It might be nice to have a cybercafe too which may pay the internet subscription in the complex making it possible to give free wired internet service to the rooms.

Of course you need to get a good architect to do a proper design (as i always do) but this proves that it is possible.
Re: Building A Student Hostel : Profitability And Challenges by Reflector: 7:56am On Jun 28, 2011
gtrust:

Reflector, have a look at this:


Thanks Gtrust but am looking for something in the South-South which is close to home for me. If you know of anything in Akwa Ibom/Cross River let me know.
Re: Building A Student Hostel : Profitability And Challenges by leumas2009: 9:37am On Jun 28, 2011
@ Dis Guy

The project is in Ogun state and based on the estimate i did about a year ago, we are looking to rent out for 80K - 100k per academic year.

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Re: Building A Student Hostel : Profitability And Challenges by Reflector: 9:44am On Jun 28, 2011
@leaumas2009, how big is the land? Do you intend to provide generator and other services?
Re: Building A Student Hostel : Profitability And Challenges by leumas2009: 9:48am On Jun 28, 2011
The building would be on the 2plots and i think it is 50 by 120 for each plot. (NB: I know it is not the standard size for a plot)

Ideally i would like to provide some cleaning services. Maybe just once in two weeks while i expect student to clean their rooms daily.

Generator i would be looking to provide so that we can provide some electricity for some hours in the day
Re: Building A Student Hostel : Profitability And Challenges by Reflector: 11:01am On Jun 28, 2011
The economics on providing night time electricity in the hostel ain't looking too good. For instance a 20 room student hostel would require a 40Kva diesel generator which sells for between 1.5 to 2 million Naira. That in itself may not be a major problem but the running cost illustrated below is an issue:


Fuel Consumption (l/hr) at 50% load capacity is 5.3
Run time per day - 7pm to 6am (hrs) 11
Days per month 30
Total Diesel needed per month (l) 1,749

Price of a litre of Diesel (NGN) 150.00
Total cost of 1749 litres (NGN) 262,350

Cost of diesel per student 13,117.50


Asking the students to pay for diesel doesn't sound realistic as the amount would even exceed the cost of renting the room. I guess this is why hotels are so expensive in Nigeria.

It is best to allow the students run their "Pass my neighbour" generators, but then this increases the risk of fire in the hostel. Damn!!

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Re: Building A Student Hostel : Profitability And Challenges by leumas2009: 11:08am On Jun 28, 2011
I would NOT consider running a gen for 11 hours, that is luxury. According to the research i have done, students would be happy to have electricity for 3-4hours a day by generator. What they seem to more bothered about is water. If you can guarantee water to run 24hours ina day, then i believe student should be happy.
Re: Building A Student Hostel : Profitability And Challenges by Reflector: 11:20am On Jun 28, 2011
If it is water then no wahala all you need is a small 2 or 3kva petrol generator to power the water pump.

3-4hrs generator for the hostel would still require 70 to 100k of diesel per month, unless you want to use one of those haigh maintenance cassava engine generators they couple locally. Those am told are very fuel efficient but breakdown very often. The caretaker may need to double as a handyman.

Mind you am also planning to establish a student hostel hence the reason why am doing all these research and analysis.
Re: Building A Student Hostel : Profitability And Challenges by leumas2009: 11:27am On Jun 28, 2011
I think in hind sight, i would rather build a small low key hostel with minimal investment before doing a big one that cost over 25million.

i have a friend that did one in Ekiti state (dunno the exact location), he spent about 6million in total for a basic face me face you hostel (21rooms), and he gets about 900k per year, which i think is good enuf.

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Re: Building A Student Hostel : Profitability And Challenges by GeorgeD1(m): 12:23pm On Jul 01, 2011
i agree with leumas on this. better to start small and learn the ropes gradually.

1 Like

Re: Building A Student Hostel : Profitability And Challenges by 2dmax(m): 12:20pm On Jul 06, 2011
interesting thread. Locked in.
Re: Building A Student Hostel : Profitability And Challenges by Esiere: 3:58pm On Jul 06, 2011
LADOKE AKINTOLA UNIVERSITY, OGBOMOSO. Hostels building is a profitable business. a room goes for around 80k p/a. you can build 12 rooms on a plot of land. there is no omo onile problem. for further enquire, call 08097671168
Re: Building A Student Hostel : Profitability And Challenges by Fiver: 4:33am On Jul 11, 2011
Anybody with a picture of a university hostel?
Re: Building A Student Hostel : Profitability And Challenges by Fiver: 4:35am On Jul 11, 2011
leumas2009:

I think in hind sight, i would rather build a small low key hostel with minimal investment before doing a big one that cost over 25million.

i have a friend that did one in Ekiti state (dunno the exact location), he spent about 6million in total for a basic face me face you hostel (21rooms), and he gets about 900k per year, which i think is good enuf.

sounds very good to me, starting out small and growing is a wise decision
Re: Building A Student Hostel : Profitability And Challenges by sonety2k(m): 9:37pm On Jan 22, 2012
Reflector:

If it is water then no wahala all you need is a small 2 or 3kva petrol generator to power the water pump.

3-4hrs generator for the hostel would still require 70 to 100k of diesel per month, unless you want to use one of those haigh maintenance cassava engine generators they couple locally. Those am told are very fuel efficient but breakdown very often. The caretaker may need to double as a handyman.

Mind you am also planning to establish a student hostel hence the reason why am doing all these research and analysis.


Would contact you in respect of the Student Hostel soon
Re: Building A Student Hostel : Profitability And Challenges by sonety2k(m): 10:00pm On Jan 22, 2012
@Maninmood
I have a hostel in Osun State and I charge 165k per year, not dt costly cuz it has everything you can think of apart from standard gen and bed, tv; others are available including split ac, fridge, security,beautiful building & secure environment. Location: Oshogbo. A plot goes for 4mil there.
________________________________________________________________________________________________________________


Can you kindly forward your hostel design & picture to my mail Box - sonetauto@yahoo.com , am planing to build one

thanks
Re: Building A Student Hostel : Profitability And Challenges by naijacutee(f): 11:47pm On Sep 08, 2012

Anyone else ventured into this?
Re: Building A Student Hostel : Profitability And Challenges by cesil92: 11:40am On Sep 20, 2012
Reflector: Does anyone know how much off campus students hostel are rented out for in Uyo?

80k to 130k d epending on what you want and location.
Call Edidiong 0803-930-1995
Re: Building A Student Hostel : Profitability And Challenges by cesil92: 11:43am On Sep 20, 2012
Reflector: Does anyone know how much off campus students hostel are rented out for in Uyo?

80k to 130k a year, depending on what you want and location
Call Edidiong on 0803-930-1995
Re: Building A Student Hostel : Profitability And Challenges by spyroxy1(m): 9:57am On Jun 09, 2013
EVEN THOUGH THIS THREAD IS DEAD ...ITS STILL VERY RELEVANT wink

1 Like

Re: Building A Student Hostel : Profitability And Challenges by Segzy23: 3:03pm On Aug 19, 2014
spyroxy1: EVEN THOUGH THIS THREAD IS DEAD ...ITS STILL VERY RELEVANT wink

I agree with you
Re: Building A Student Hostel : Profitability And Challenges by doublecrown1(m): 8:02am On Nov 23, 2014
FOR SALE - 20 ROOMS (each contain toilet, bath & kitchen) STUDENT HOSTEL built on a corner piece two plots of land, well finished with fence, gate & car park besides Bekadims Hotels, Oke Odo, Unilorin Rd. Ilorin, Kwara State.
Only Serious Buyers should contact:
0803 319 0370 OR 0808 181 6644

Re: Building A Student Hostel : Profitability And Challenges by ArcSaraphizzy: 7:02pm On Jul 16, 2015
To whom it may concern,

LETTER OF INTRODUCTION

We have the pleasure of introducing our company BK Designs to you.
We offer unique ideas and concepts in Architectural and Building designs, interior design, urban planning and construction
We have a good reputation built over time in the architectural and building sectors of nigeria with adequate job references to prove our position.
We therefore seek invitation to present our package which we are sure will be of interest to you.
Thank you as we look forward to good business relationship with you

Your faithfully
BELLO Adewale

CEO: For BK Designs
08066622810,08052304749,
08081832784
Pin: 2BC9ECEA

Re: Building A Student Hostel : Profitability And Challenges by domack99(m): 9:46am On Aug 05, 2015
Just see this thread now while goggling for student hostel layout. This is something am interested in, my plan is to make it as simple as possible.

Love the discussion on this thread in terms of category of student and area around the school premises to focus on.
Re: Building A Student Hostel : Profitability And Challenges by ArcSaraphizzy: 2:20pm On Aug 19, 2015
Greetings,

To whom it may concern,

LETTER OF INTRODUCTION

We have the pleasure of introducing our company BK Designs to you.
We offer unique ideas and concepts in Architectural and Building designs, interior design, urban planning and construction
We have a good reputation built over time in the architectural and building sectors of nigeria with adequate job references to prove our position.
We therefore seek invitation to present our package which we are sure will be of interest to you.
Thank you as we look forward to good business relationship with you

Your faithfully
BELLO Adewale

CEO: For BK Designs
08066622810,08052304749,
08081832784
Pin: 2BC9ECEA

Re: Building A Student Hostel : Profitability And Challenges by slazedeez: 8:34am On Jan 04, 2016
Av got a better idea...come to ilorin..a handful of higher institutions here....get a land for cheaper than 5mil..construction ofur proposed project at abt 20mil and charge as much as 100k per annum...better investment don't you think #talking from experience
Re: Building A Student Hostel : Profitability And Challenges by leumas2009: 3:05pm On Mar 02, 2016
Guys, we have a hostel in Ago iwoye that is currently up for rent. More information here: www.theprimevilla.com
Re: Building A Student Hostel : Profitability And Challenges by suzky10n: 3:03am On Jul 08, 2016
Abeg guys help I have 25 million at hand and I want to start a real time investment in the hostel business in anambra University

If you have any clue inbox me at
Suzky10n@gmail.com

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