Adinkra symbols for Sankofa

“Sankofa”

The term is derived from the Akan language of Ghana, and it represents the concept of “going back to fetch” or learning from the past to build a better future.

“Springs”
Symbolises renewal, growth, and the rejuvenating qualities that our development aims to offer.

We are going to create 14 semi-affordable units in this fringe area of Greater Accra located just 5 minutes from the Pokuase Interchange.

The residential market in Ghana has experienced significant growth in recent years. This growth has been fueled by various factors, including the “Year of Return” initiative in 2019. This led to a surge in tourism and expatriate interest in the country, especially from America, Europe, and other parts of Africa, which continues to this day.

Pokuase is a rapidly developing area known for its strategic location and accessibility. Situated on the outskirts of Accra, it benefits from the Pokuase Interchange, which provides improved access to the city and connections to other parts of Ghana.

This presents an excellent opportunity for investors looking to capitalise on the continent’s growth potential

Size and Unit Variety:
Sankofa Springs offers 14 units ranging from 1 to 4 bedrooms, providing options to suit different lifestyle preferences.

The development includes associated parking facilities and on-site staff ensuring convenient and secure parking for residents.

Unique Design:
Sankofa Springs features a unique design that celebrates vernacular materiality. The combination of Concrete, Wood, and glazing creates a visually appealing and modern aesthetic.

Modern Amenities:
The development is equipped with modern amenities including air conditioning, washer dryer and integrated TVs ensuring a comfortable and enjoyable living environment for residents. It also features a communal wellness centre equipped with a pool and gym facilities.

Tailored Design:
For those who purchase off-plan, Sankofa Springs offers the flexibility to customise the finishes according to the purchaser’s taste, allowing buyers to create a space that aligns closely with their preferences and style.

Sankofa Springs recognizes the potential of this thriving residential market and aims to cater to the increasing demand for high-quality accommodation.

The development is being spearheaded by David Adjei, a  highly experienced and reputable dual national (Ghana & UK) Chartered architect and property developer.

The development offers a range of residential units, appealing to both short-term renters, such as expats and tourists, as well as long-term renters or buyers, including middle-class local Ghanaians seeking quality housing
options. By capitalising on the growing interest in the residential market, Sankofa Springs presents an excellent investment opportunity in a buoyant and expanding
sector.

In this regard, we can offer a fixed return to investors as the project has a total profit margin of 58.3% based on local comparables. This figure does not factor in any uplift from the reputation of the Architect or the higher quality of design and finishing that will be present.

Gross Development Value (GDV): £847,000

Project Expenses: £535,000

Gross Profit: £312,000

Profit Margin: 58.3%

Project Expenses: £535,000

Expenses Paid to Date: £33,000

Outstanding Expenses: £502,000

As you can see above David Adjei has already invested over £30,000 of his own funds into the project, showcasing commitment and confidence in its success.

To finance the outstanding expenses, we are seeking private equity partners to invest in the project for a fixed return at the following rates:

• Investments Under £10,000 – Fixed Return on Capital at 12.5%
• Investments between £10,000 and under £50,000 – Fixed Return on Capital at 12.5% & Discounts on Short Term Stays for 3 years
• Investments at £50,000 and over – Increased Fixed Return on Capital at 15%, Discount on Short Terms Stays for 5 years

Risk Mitigation

We are not targeting prime customers and this allows the scheme to be semi-affordable to local residents and therefore does not rely on international customers or expats. This will reduce the amount of time and expense required to sell or rent units.

We will also reserve over 20% of the development units to be made to Ghanaian nationals first.

Security

Investors will form a simple contract with Cognition Estates Ltd a UK-based property special purpose vehicle (SPV) (Registered Company Number: 11849326) within this is held a property worth circa £450k-500k, which provides UK-based collateral for our partners.