The retail sector of the real estate industry in Nigeria is set to receive a boost, as an investor, RMB Westport, has concluded plans to unveil a new mall along Lekki corridor in Lagos State, December 2015.
Christened, Lekki Circle Mall is coming after a successful completion of the popular Ikeja City Mall, also owned by the same investor.
According to the developer, Circle Mall is a new innovation in shopping mall, designed as a multi-purpose edifice, with Messrs Cappa-Dalberto as the main contractor, while Stauch Vorster Architect International is the architect and Bovell Ross, as the Project Management.
Strategically located at the Jakande Roundabout on the Lekki-Epe Express Way, the mall features a premium retail section, including a business centre. The retail section features open mall convenience shopping with a retail space capacity of 10,800 square metres and 373 exclusive parking bays, among other facilities. The business centre, adjacent to the retail section, has an office space of 3,700 square metres, with 72 dedicated parking bays among other facilities.
Circle Business Centre (CBC), is currently leasing 3,700 square mertes of international-standard office space. Conveniently located next to Circle Mall on the Lekki-Epe Expressway, CBC provides modern and easily accessible campus-style office premises for businesses seeking an edge in Lagos’s fast-paced commercial environment.
Circle Mall Business Centre is designed to be state-of-the art business premises – offering Lagos’s first campus-style office part
The Business Centre features 72 dedicated basement-parking bays, elegant design features and everything necessary for convenient and streamlined office operations.
With its closeness to many residential estates within the axis, CBC will provide prime office space for businesses on the move.
Unfolding the technical details of the project at the “Tenant Forum” by the investor last week, RMB Westport’s Development Manager, Mr. Roy Hamlyn, who stated that the project is at 60 percent completion stage, gave December 2015 as completion date. According to him, the new innovation was designed to make shopping activities easier for the customers.
Besides, the project, when completed would afford businessmen and women who need office accommodation to equally get their needs at the mall without going outside the complex.
Hamlyn said the investor is out to create conveniences for Lagos residents living along the axis and also to provide opportunities for those whose business activities are located in the area, easy access to meet their needs.
“We conducted a comprehensive demographic study to know the target audience, their needs and how our tenants would be able to make good business by providing quality services and make good income from their investments”.
According to him, “PMN Investments is a subsidiary of Paragon Holdings Limited. Paragon Holdings Limited is a diversified business conglomerate operating across different sectors of the Nigerian economy and Africa.
RMB Westport is a real estate investment management and development firm, focusing on property developments in sub-Saharan Africa. RMB Westport is affiliated to Rand Merchant Bank, a division of FirstRand Bank Ltd., who are doing excellent job in Nigeria”.
Paul Symondon, an architect and a director with Stauch Vorster Architects International, said the architectural work is a joint venture with Femi Majekodunmi Associates Architects Limited, saying convenience in shopping is key to the project.
According to him, the architectural design of the project made parking space very convenient, while easy access is provided for people coming and going out of the complex, saying the Mall has 72 dedicated basement parking bays, “with elegant features and everything necessary for convenient and streamlined office operations”.
Source: Estate Times