Purple maryland mall is for sale.
Price: N30 Billion (slightly negotiable)
It has the biggest led advertising screen in West Africa
They are triple net leases - rent, service charge, utilities. Hence they are pass through cost of service charge and utilities payable by tenants.
The anxilliary income are advertising and parking.
The Gross income on rent is about 1.06b for this current year
Advertising about 400m when managed appropriately
and parking is 20m.
Total income of about N1.4b.
Service charge and utilities are borne by tenants and written into their lease agrmts.
The lease agreements for rent have built in escalations of 5 - 12% per annum in some cases. The anchor grocery has a built in additional rental over and beyond a sale threshold which has always been met and surpassed year in, year out.
Usd:ngn
Rent is pegged to usd and payable in Naira for those with usd leases with negotiated usd rates.
Rent per sqm is dependent on size and floor.
Purplemaryland is a grade a neighbourhood mall, air-conditioned space with strong anchor tenants such as Marketsquare, Genesis, Uber, Ifitness, Skatecity. It is not an OshopeyPlaza.
Call me for physical inspection
Pls note 24hrs notice ahead
