A simmering crisis is brewing between the subscribers of Beechwood Estate located along the Lekki-Epe Expressway, Lagos, and the promoters of the estate, Assets & Resource Management Company Limited, over some contractual details.
While the subscribers alleged that the company had not fulfilled all its obligations as specified in the sales agreement, ARM said it had implemented majority of the terms, and that the remaining projects were almost completed.
In a statement made available to our correspondent on Thursday, the Chairman Beechwood Estate Residents Association, Mr. Nduka Dagbue, alleged that contrary to the impression that investors in the estate had six years ago, the reality on the ground was at variance to expectation.
For instance, Dagbue alleged that the company had failed to complete the perimeter fence of the estate to ensure security of existing properties and the lives of the occupants of the estate.
However, Aminat Gbajabiamila of the Branding and Corporate Communications unit, ARM Investment Managers, said in an email message that was accompanied by pictures said, “The perimeter wall has been completed. Additionally, we installed security for the wellbeing of current residents.”
The residents also complained about the non-completion and delivery of electricity and water supply within the estate as stated in the sales agreement, but Gbajabiamila said this position was not correct.
“Currently, all high tension poles and cables have been installed; low tension installation is at 50 per cent; all transformers have been delivered to the site, three of which have been installed; and 30 per cent of the water distribution channel has been connected,” she said.
Dagbue also accused ARM of failing to delivery the “approved layout plan of the estate to enable subscribers complete the processing of their building approval plans presently stalled by the non-availability of an approved layout plan.”
However, Gbajabiamila said N53m was paid to the Lagos State Ministry of Physical Planning and Urban Development for the layout approval of the estate in November 2011, and attached the receipt.
The residents association also alleged that the company had failed to carry out appropriate beautification of the front of the estate and the other green areas, but the ARM official said, “While beautification of the estate is incumbent upon the residents, we have actually assisted with clearing the environs periodically – the last exercise as of two months ago.”
The association also accused ARM of failing to complete roads and drainages within Beechwood Estate, but Gbajabiamila countered by saying 99 per cent of the road network within the estate was completed.
According to her, only two roads in Zone 3 – Azare and Kabba –are yet to be completed.
Dagbue said, “By this breach of contractual obligation and failure in service delivery on the part of ARM, the residents of Beechwood Estate now live in fear and perpetual darkness, as the haphazard work on the said facilities to be provided by ARM was abandoned halfway after money had been collected from the unsuspecting purchasers/subscribers to the scheme without any actual plans or intention to complete the said work.
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Residents, ARM bicker over Beechwood Estate agreement