Joel Ogunaike Street, Ikeja GRA, Ikeja, Lagos
₦300,000,000 per annum
| Property Ref: 3038745 | Added On: 17 Aug 2025 | Last Updated: 18 Aug 2025 |
| Market Status: Available | Type: Hotel / Guest House | Bedrooms: 32 |
| Bathrooms: 32 | Toilets: 36 | Parking Spaces: 40 |
MODERN 32ROOM HOTEL FOR LEASE --- JOEL OGUNAIKE, GRA IKEJA
Location: Joel Ogunaike, GRA Ikeja, Lagos
Asset: 32room boutique hotel with gym, swimming pool and event lounge
Lease Terms: 300,000,000 per annum
Minimum lease term: 10 years required
Event Lounge / Function Space Rate: 80,000 per night (subject to booking terms)
Executive Summary
An attractive, fully fitted 32room hotel in the prestigious GRA Ikeja precinct is available for longterm lease.
The property features guest rooms, a gym, a dedicated swimming pool, and a hotel lounge/function space
--- ideal for boutique hotel operators, leisure brands, corporate hospitality groups, or investoroperators seeking immediate market entry in a highdemand location. Offered on a 10year minimum lease at 300M per annum, this turnkey asset provides an opportunity to capitalize on corporate travel and events demand in Ikeja.
Investment & Operational Highlights
- Prime GRA Ikeja location on Joel Ogunaike --- excellent accessibility and strong demand from corporate and leisure travellers.
- Turnkey hotel operation: 32 guest rooms ready for immediate letting (subject to handover).
- Amenities include gymnasium, outdoor/indoor swimming pool, and a dedicated hotel lounge/function space.
- Event/lounge rate: 80,000 per night (revenue stream from private events, small functions, and bookings).
- Attractive lease term suitable for brand operators seeking longterm presence without capital acquisition.
- Ideal for conversion to boutique lifestyle, business hotel, or premium shortstay accommodation.
Property Specifications & Facilities
- Guest Rooms: 32 rooms (mix and sizing to be confirmed on inspection; typically combination of standard and executive rooms).
- Leisure Facilities: Fully equipped gym; swimming pool with guest deck.
- Events: Hotel lounge / function area available for private bookings (rate: 80,000/night).
- Food & Beverage: Onsite restaurant / breakfast service potential (confirm existing kitchen specification).
- Back of House: Staff rooms/quarters, laundry, storage and service areas (subject to verification).
- Parking: Onsite guest and staff parking (capacity to be confirmed).
- Title & Compliance: Leasehold / landlordmanaged asset --- title and regulatory compliance documentation to be provided during due diligence.
Location & Accessibility
- Situated within GRA Ikeja --- a soughtafter, secure residential and commercial district with close proximity to corporate offices, government institutions, shopping centres and transport links.
- Easy access to Allen Avenue, Obafemi Awolowo / Ogundana and the wider Ikeja business district.
Revenue Potential & Use Cases
- Core revenue streams: room nights, F&B, events/lounge hire, meetings and ancillary services.
- Strong catchment: corporate travelers, event hosts, shortstay tourists and visiting professionals.
- Opportunity to increase ADR and occupancy through active sales, corporate contracts and digital distribution channels.
Lease Terms & Requirements
- Annual Rent: 300,000,000 (three hundred million naira) per annum.
- Minimum Lease Duration: 10 years.
- Security Deposit, Rent Payment Terms and Fitout responsibilities to be agreed during negotiation.
- Interested parties should be financially prequalified; proof of funds and operator credentials will be required.
Proposal & Application Procedure
To commence discussions and receive detailed information pack (including floor plans, current operating status, furniture/equipment inventory, title documents and service schedules), please provide the following:
1. Letter of Intent (LOI) confirming interest and proposed commercial terms.
2. Company profile and evidence of hotel or hospitality operations experience.
3. Proof of financial capacity / funding plan (bank statements, investor commitments, or corporate guarantee).
4. Proposed operating concept and any fitout plans (if applicable).
Viewing & Due Diligence
- Site inspections and operator walkthroughs available by appointment for prequalified parties.
- Standard due diligence (legal, technical and operational) will be required prior to lease signing. Landlord to provide title and compliance documentation on request.
This listing is intended for serious operators and investors only.
This is a rare leasing opportunity to secure a fullyappointed hotel in GRA Ikeja with immediate operational potential and multiple revenue streams. Book a viewing today to explore fitout options and commercial modelling.
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