Listing title
for sale --- standalone 54‑room hotel (non‑operating) --- off adeola odeku street, victoria island 3,500 sqm c of o ₦7,500,000,000
headline
rare island opportunity: fully built, architecturally attractive 54‑room hotel on a substantial 3,500 sqm plot in the heart of victoria island. ideal for hotel operators, investor‑developers or corporate owners seeking a prime trophy asset with immediate repositioning potential.
overview
an impressive, purpose‑built hotel property --- finished inside and out to high standards --- is offered for sale on a clear certificate of occupancy (c of o). although currently non‑operational, the asset presents a compelling, strategic acquisition for buyers able to recommission, rebrand and relaunch hotel operations quickly, or to convert into serviced residences, corporate housing or a mixed‑use development. located off adeola odeku street, the site benefits from prime victoria island frontage, excellent corporate demand and proximity to finance, entertainment and retail nodes.
key facts
- location: off adeola odeku street, victoria island, lagos
- land area: 3,500 sqm (single consolidated plot)
- building: purpose‑built hotel property --- 54 rooms (detailed room mix available on request)
- title: certificate of occupancy (c of o) --- certified documents available to qualified buyers
- asking price: ₦7,500,000,000 (seven billion, five hundred million naira)
- status: non‑functioning (sale of complete property and all fixed assets as agreed)
asset highlights
- prime victoria island address with exceptional access to corporate offices, embassies, banking and leisure districts --- strong catchment for business and upscale leisure travel.
- significant landholding (3,500 sqm) provides flexibility for additions, expanded amenities or partial redevelopment if required.
- quality build and finishes: the property is described as "very beautiful inside and outside" --- high aesthetic and construction standard that reduces immediate capex on basic cosmetic works.
- 54 rooms provide a meaningful operating scale suitable for full‑service boutique or upscale branded operation once re‑commissioned.
- clear c of o supports financing, secure transfer and institutional acquisition.
immediate commercial opportunities
- re‑open as a branded or independent hotel targeting corporate and leisure segments --- quick revenue recovery expected in victoria island's premium market.
- convert to serviced apartments / long‑stay corporate accommodation or boutique residences to capture demand from expatriates and premium corporate tenants.
- redevelop or reposition as mixed‑use (retail/ f&b at ground level with hospitality/residential above) subject to planning consents.
- institutional use: corporate housing, training academy, medical hospitality or embassy/consulate facility (subject to approvals).
investment & value drivers
- island micro‑market: victoria island demonstrates consistent high demand for quality hospitality and short‑stay accommodation --- pricing power for well‑positioned assets.
- scale: 54 rooms provide immediate earning capacity and economies of operation for a single operator.
- land value: 3,500 sqm on the island is a strategic holding with long‑term capital appreciation potential.
- time‑to‑market advantage: acquiring an existing built asset shortens the path to trading vs greenfield development.
expected capex considerations (indicative)
- re‑commissioning costs for a non‑operating hotel typically include ff&e replacement, mep recommissioning, vendor contracts, pre‑opening marketing and staff recruitment. a buyer's technical survey and operator review will define exact budgets.
- conversion or redevelopment costs depend on chosen strategy; lenders and investors generally require a certified cost‑to‑complete and business plan.
what serious buyers will receive on request
- certified c of o and supporting title pack (subject to pre‑qualification)
- high‑level as‑built plans and site layout (available to qualified parties)
- photographs and internal walkthrough materials (video tour available on request)
- preliminary revenue and operations history if available, plus list of fixed assets and ff&e inventory (subject to nda)
recommended due‑diligence checklist
legal & title
- verify c of o, chain of ownership and any encumbrances with solicitors.
- check planning permissions, building approvals and any outstanding compliance conditions.
technical & operational
- full technical survey (structural, mep, roofing and services).
- ff&e inventory and condition report --- assess replacement needs.
- fire safety and life‑safety compliance checks, sanitary and water systems, and generator capacity.
commercial & financial
- review historic trading (if any), previous occupancy and adrs, and local market comps.
- draft business plan for re‑opening / conversion and third‑party operator proposals.
- obtain independent cost‑to‑complete and refurbishment budgets.
regulatory & compliance
- confirm rates, levies and any outstanding statutory payments.
- review utility connections (power, water, drainage) and any estate/road access agreements.
sale process & next steps
1. submit a formal expression of interest (eoi) with company profile and proof of funds.
2. qualified buyers will be asked to sign an nda before receiving detailed data room access (title documents, plans and asset inventory).
3. site inspections and technical assessments arranged for shortlisted parties.
4. heads of terms negotiated, followed by legal conveyancing and completion.
viewing & contact
this asset is shown by appointment only to pre‑qualified, serious buyers. please provide proof of funds and company profile to arrange access to the full dossier and to schedule a private inspection.
to express interest or request the project pack, contact:[agent / company name]phone: [insert phone number]email: [insert email address]
confidentiality
all enquiries are treated in confidence. full documentation and internal access are provided to qualified parties only under nda.
disclaimer
information provided is for marketing purposes and is offered in good faith by the seller/agent. prospective buyers must undertake independent legal, technical and financial due diligence. any figures, statements and claims should be verified prior to purcha...
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