VIABLE SHOPPING MALL FOR SALE

VIABLE SHOPPING MALL FOR SALE IN FESTAC

NEIGHBOUR

HOOD:

The immediate neighbourhood is predominantly residential interspersed with commercial, industrial and other uses. Notable landmarks within the neighbourhood include Domino's Pizza, Teazers, NRS Office, Wema Bank, Item 7 Foods, Ende Automobile World, Royal Oak Hospital, Deli Ville Restaurant, Coldstone Creamery, and a host of others.

Infrastructural facilities available within the neighbourhood include; electricity, water, MTN Fibre X Data network, telecommunication services and a network of motorable access roads.

SITE:

The site is on Latitude N06 28 10.805 and on Longitude E003 17 48.192 on WGS 84 Datum. The site is fairly rectangular in shape. It appears firm, level and well drained, measuring an approximate area of 1,067.64 square metres based on linear measurement taken on site. It is delineated along its perimeter line with sandcrete blockwalls atop with metal spikes.

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TENANCY DETAILS: Occupied.

DESCRIPTION: Development on site comprises; a block of 12No. lockup shops on 2 floors, generator house and a gatehouse.

CONSTRUCTIONAL DETAILS ARE AS FOLLOWS:

BLOCK OF 12NO. LOCKUP SHOPS ON 2 FLOORS (GFA: 907.36 SQ.M)

Construction is of reinforced concrete columns and beams infilled with sand Crete blockwalls rendered smooth, finished externally and internally with emulsion paint except the convenience units are finished with ceramic tiles to ceiling level.

Roof is pitched, comprising a framework of wooden trusses clad with longspan aluminium sheets while ceiling beneath is finished with suspended acoustic boards.

Doors are of veneer flush, double leaf glazed and roller shutters types while windows are of glazed aluminium sliding and glazed aluminium projected types fortified internally with metal grilles and covered with insects screen.

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Flooring exists of mass/reinforced concrete finished with ceramic tiles. Access to the upper floor is through an internal half-turn reinforced concrete staircase finished with cement-sand screed and guarded with metal balustrade.

TRANSFORMER HOUSE (GFA: 15.60 SQ.M)

Construction is of reinforced concrete columns and beams infilled with sandcrete blockwalls rendered smooth, finished externally with emulsion paint

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Document Header

OKAKA PLAZA LOCATED ALONG 1ST AVENUE, FESTAC, AMUWO ODOFIN LOCAL GOVERNMENT AREA, LAGOS STATE.

THE PROPERTY:

The subject, a commercial property with its appurtenant structures occupies a parcel of land located along 1st Avenue, Festac, Amuwo Odofin Local Government Area, Lagos State.

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SITUATION:

The referenced 1st Avenue, where the subject property situates can be accessed from Festac Access Road which in turn is an offshoot of Apapa-Oshodi Expressway. The subject property is particularly on the right flank of 1st Avenue when approach from Festac Access Road.

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WE ARE OF THE OPINION that the MARKET VALUE of interest in the Okaka Plaza located along 1st Avenue, Festac, Amuwo Odofin Local Government Area, Lagos State; herein described was as at January 17, 2026; in the sum of ₦800,000,000.00 (Eight Hundred Million Naira Only).