Assibifi Road, Ikeja, Lagos
₦20,000,000,000
| Property Ref: 3197441 | Added On: 11 Nov 2025 | Last Updated: 11 Nov 2025 |
| Market Status: Available | Type: Hotel / Guest House | Bedrooms: 117 |
| Bathrooms: 117 | Toilets: 117 | Total Area: 5,742 sqm |
FOR SALE- INVESTMENT SALE (HOTEL ASSET)
1. Executive Summary
- Property: Protea Hotel Select Ikeja (PHS Ikeja) --- upper midscale, branded hotel asset
- Opportunity: Fully operational hotel with established trading history and strong corporate client base --- ideal for institutional investors, hotel operators, or investors seeking a stabilized hospitality asset in Lagos
- Asking Price: 20,000,000,000 (Twenty Billion Naira)
- Note: Serious clients only --- viewings by appointment; proof of funds/ID and NDA required
1. Location & Accessibility
- Address: Assibifi Road, Ikeja, Lagos (prime commercial/business district)
- Market Catchment: Central Ikeja --- close to government institutions, corporate offices, shopping malls and medical facilities
- Connectivity: Excellent access to local and international airports (under 10 minutes' drive), major highways and transport hubs
1. Property Overview & Key Specifications
- Land Area: 5,742 sqm
- Building: 4 floors comprising 117 rooms and suites (branded and operated under Protea by Marriott management)
- Establishment: In operation since 2014 with consistent demand from transit, corporate and medical travellers
1. Amenities & Facilities
- 24hour security and CCTV systems
- Outdoor swimming pool
- Fully equipped gym/fitness centre
- Laundry services and secure free parking for guests
- Conference facilities with stateoftheart technology accommodating up to 150 delegates
- Guest services aligned to branded standards (front desk, F&B outlets, events & banqueting)
1. Operational Highlights & Revenue Drivers
- Stable trading performance since opening with strong occupancy levels (established recurring patronage)
- Longterm roomnight agreements and corporate contracts with airlines, oil & gas firms, FMCGs, NGOs, financial institutions and travel agents
- Corporate accounts contribute approximately 50% of annual occupancy --- providing predictable demand and revenue stability
- High concentration of midtohigh income residential and bluechip corporate catchment in the immediate area
1. Investment Rationale
- Prime location in Ikeja --- one of Lagos's leading business & transit nodes, driving consistent hotel demand
- Branded asset with established operating history and corporate contracts --- reduces market and operational risk
- Attractive for repositioning, portfolio consolidation, saleandleaseback or continued operation under established management
- Proximity to airports and commercial centres enhances both corporate and transient demand streams
1. Title, Documentation & Condition
- Operational asset under management (detailed legal, technical and financial documents available upon request)
- Interested parties will be provided with financial statements, occupancy & ADR history, management agreements and title documents following NDA and proof of funds
1. Pricing & Transaction Process
- Asking Price: 20,000,000,000 (Twenty Billion Naira) --- priced for immediate acquisition of a stabilized branded hotel asset
- Transaction: Direct sale --- terms and structure to be negotiated with seller; preferred buyers: institutional investors, hotel groups, strategic investors
Confidentiality: Viewings and document access strictly by appointment following verification of credentials
Serious investors and hotel operators only. Don't miss this rare opportunity to acquire a highperforming branded hotel in the heart of Ikeja --- strong cashflow, strategic location and established corporate demand.
Ref: Efosa
