Adeola Odeku Street, Victoria Island (VI), Lagos
₦7,500,000,000
| Property Ref: 3110923 | Added On: 23 Sep 2025 | Last Updated: 28 Sep 2025 |
| Market Status: Available | Type: Hotel / Guest House | Bedrooms: 54 |
| Bathrooms: 54 | Toilets: 54 | Parking Spaces: 30 |
| Total Area: 3,000 sqm |
For Sale ---
Standalone 54Room Hotel (NonOperating) --- Off Adeola Odeku Street, Victoria Island
Size: 3,500 sqm
Title:C of O
Price: 7,500,000,000
Headline
Rare island opportunity: fully built, architecturally attractive 54room hotel on a substantial 3,500 sqm plot in the heart of Victoria Island. Ideal for hotel operators, investordevelopers or corporate owners seeking a prime trophy asset with immediate repositioning potential.
Overview
An impressive, purposebuilt hotel property --- finished inside and out to high standards --- is offered for sale on a clear Certificate of Occupancy (C of O). Although currently nonoperational, 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 mixeduse 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: Purposebuilt 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: Nonfunctioning (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 fullservice boutique or upscale branded operation once recommissioned.
- Clear C of O supports financing, secure transfer and institutional acquisition.
Immediate commercial opportunities
- Reopen 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 / longstay corporate accommodation or boutique residences to capture demand from expatriates and premium corporate tenants.
- Redevelop or reposition as mixeduse (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 micromarket: Victoria Island demonstrates consistent high demand for quality hospitality and shortstay accommodation --- pricing power for wellpositioned 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 longterm capital appreciation potential.
- Timetomarket advantage: acquiring an existing built asset shortens the path to trading vs greenfield development.
Expected CAPEX considerations (indicative)
- Recommissioning costs for a nonoperating hotel typically include FF&E replacement, MEP recommissioning, vendor contracts, preopening 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 costtocomplete and business plan.
What serious buyers will receive on request
- Certified C of O and supporting title pack (subject to prequalification)
- Highlevel asbuilt 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 duediligence 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 lifesafety 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 reopening / conversion and thirdparty operator proposals.
- Obtain independent costtocomplete 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 prequalified, 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 purchase.
Contact: Mr. Kola Adesina (EDBA)
All detailed documentation and commercial discussions will be provided on a confidential basis and subject to a signed NDA.
Serious proposals only.
*How we work*
Tell us your needs (budget, location, size).
Our team reviews your request and assigns a dedicated relationship manager.
We only source conflict-free land and properties with clear titles.
We conduct due diligence and arrange site visits.
Viewings are by appointments only
Finalize purchase, rental or lease with legal support.
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Ref: Victoria
