Hotel Space

DIRECT
2 WINGS BUILDING FULLY FUNCTIONING HOTEL FOR SALE

INTRODUCTION

57 rooms fully functioning Hotel and are situated in the heart of Ikeja business district, in a quiet residential area

off Toyin Street Ikeja Lagos, about 2 kilometers from the International and Local Airports.

INVESTMENT HIGHLIGHTS

Potential for rebranding and repositioning opportunity. Corner piece property bordering 3 streets on 2400SQM
A profitable asset with considerable potential to improve the trading performance
Extremely well connected for access. A 10-minute drive from airports.

Year End December

2013 =76% Occupancy
2014 = 79% Occupancy
2015 = 76% Occupancy
2016 = 80% Occupancy

Forecast

THE PROPERTY is accessed through a residential area in Emina Crescent which leads to a courtyard with appropriately 25 car parking spaces.

FEATURES

The property has two receptions which comprise the front desk as well as the general manager and admin offices to the right and a staircase immediately to the left. Each of the buildings has an individual entrance with stairs to all floors.

The conference hall seats 120 to 150 people and there is a restaurant and bar. WIFI is provided throughout
The laundry is located in a separate building and services the entire room with towels and linens

DEVELOPMENTAL POTENTIAL

Subject to planning, there is the potential to add up an additional building and swimming pool by utilizing the space in front of the admin office.


EXTERNAL AREAS
The property has approximately 25 car parking spaces on 2400SQM

THE BUSINESS
The profitable and very well-located business has considerable potential to improve the trading performance by way of repositioning the asset and reducing operational costs.
The business benefits from both International and local airports and other corporate clients and walk-in guests. Our list of corporate clients includes international organizations like NGOs etc.
It is easily accessible due to its location in the heart of Lagos.

TENURE
Freehold C of O 2003

FIRE RISK ASSESSMENT
We understand that the property complies with the Regulatory Reform (Fire Safety) order 2010

PRICE
Offers in the region of N1, 500,000,000.00(ONE BILLION FIVE HUNDRED MILLION NAIRA ONLY) ONO