Highrise Office/Residential Space for Sale in V.I, Lagos

Victoria Island, Lagos, Nigeria


Tis property is located in a prestigious address in the highbrow business district in Victoria Island with great 3600 views of the V/I skyline with the Atlantic Ocean and exciting Eko Atlantic City. Each floor is configured into two wings (Wing A and B) with boys’ quarters giving a combined 517sqm floor space.
The facility offers 3 Standby Generators (800KVA x2 & 250KVA x 1), 3 Lifts (2 Passenger & 1 Service), 24 hours security, full Facilities Management Service.
The property was built as an open floor plan,
Configured into offices or residential use.
3 Floors available for sale i.e 7th, 10 and Penthouse.
The internal finishing of the 10th floor and Penthouse floors are still pending, because they were being developed for owners company’s specific use.
One or both of the floors are available for sale for the right price.
The 7th floor is fully completed and Wing B has just been sold, and we are currently looking for buyers for Wing A.
Each Wing measures approximately 245sqm2 together with a servant’s quarter room of approximately 24sqm2.
Wing A is currently tenanted by a Finance Company, whose lease expires on July 31st, 2019.
The current market rate for lease in the neighborhood can be anywhere between N55,000 – N70,000 per sqm. The Finance company is however paying a deeply discounted rent of approximately N12M p.a.
The buyer of Wing A will immediately inherit the running lease and come into cashflows from day 1, and then decide whether or not to renew the lease when it expires in July 2018.
Our asking price for Wing A of the 7th Floor is N200M.
while complete floor (10th & Penthouse) goes for 350M asking (both Wing A and B)
  • ID: 3425
  • Published: March 27, 2019
  • Last Update: March 27, 2019
  • Views: 22