Victoria Island (VI), Lagos
₦7,500,000,000
| Property Ref: 3201276 | Added On: 13 Nov 2025 | Last Updated: 13 Nov 2025 |
| Market Status: Available | Type: Hotel / Guest House | Bedrooms: 70 |
| Bathrooms: 70 | Toilets: 70 | Total Area: 3,500 sqm |
PROPERTY LISTING: 70ROOM NONFUNCTIONAL 4STAR HOTEL --- PRIME VICTORIA ISLAND LANDBANKLocation: Victoria Island, LagosLand Area: 3,500 sqmTitle: Certificate of Occupancy (C of O)Asking Price: 7,500,000,000 (Seven Billion Five Hundred Million Naira) --- Urgent Outright SalePossession: Vacant
EXECUTIVE SUMMARYA rare largescale hospitality asset on Victoria Island offering immediate redevelopment or repositioning potential. This nonfunctional 4star hotel occupies a substantial 3,500 sqm parcel in one of Lagos' most valuable commercial and leisure precincts. The property includes an existing 70room inventory and extensive public amenities (pool, bars, gym, restaurants, banquet hall, rooftop lounge) --- a strategic opportunity for hotel operators, institutional investors, or developers seeking a premier site with secure C of O title and vacant possession.
KEY ASSETS & EXISTING FACILITIES
- Accommodation: 70 guest rooms and suites (varied room categories across multiple floors)
- Leisure & F&B: Swimming pool, indoor and outdoor bars, rooftop lounge, continental restaurants
- Events & Recreation: Large banquet/conference hall and equipped gymnasium
- Support Infrastructure: Backofhouse kitchens, staff offices, service corridors and storage
- Site Status: Vacant possession --- property currently nonoperational and available for immediate takeover
LOCATION & STRATEGIC ADVANTAGES
- Victoria Island address provides unrivalled proximity to Lagos' corporate, diplomatic, retail and leisure nodes.
- Short drive to the financial district, highend retail, embassies, oil & gas offices and premium F&B clusters --- worldclass catchment for business and leisure travellers.
- Excellent transport and access links enhance shortlet, corporate stay and events marketability.
- Scarcity of large contiguous hotel sites on VI makes this a rare landbank with high replacement cost and strong redevelopment upside.
OPPORTUNITIES & VALUE CREATION CASES
1. Hotel Recommissioning --- complete retrofit and brand reflagging to restore 4star operations and capture Victoria Island's robust corporate & leisure demand.
2. Conversion to Serviced Apartments / ExtendedStay Residences --- premium yields from longstay corporate clients and expatriates.
3. MixedUse Redevelopment --- partial hotel retention with added office/retail podium, branded residences or F&B/retail activations on lower levels.
4. Event & Conference Destination --- monetize large banquet and rooftop assets with corporate events, weddings and MICE (meetings, incentives, conferences, exhibitions).
5. Asset Rationalization --- subdivide and repurpose for multiple commercial uses subject to planning consent.
INVESTMENT APPEAL
- Scale & Asset Depth: Hotel shell plus extensive amenities reduces initial landpreparation costs for new operator/developer.
- Prime Market Location: Victoria Island commands premium room rates, high occupancy and strong shortlet demand.
- Title Security: C of O provides transparent ownership and simplifies transfer for institutional buyers.
- Vacant Possession: Immediate access to site for mobilization, demolition or refurbishment programs.
CONDITION & REHABILITATION NOTE
- The property is currently nonfunctional and will require capital expenditure to recommission systems (MEP, HVAC, lifts, kitchens), remediate any deferred maintenance and achieve regulatory recertification.
- Buyers should budget for refurbishment or redevelopment costs based on intended use and brand standards.
DOCUMENTATION & DUE DILIGENCE (AVAILABLE / RECOMMENDED)
- Title: Certificate of Occupancy (C of O) --- available for verification to qualified purchasers.
- Recommended buyer due diligence: structural survey, MEP audit, fire & life safety compliance checks, environmental/site contamination assessment, verification of asbuilt plans, review of licences and historical financials (if available), planning/permitting constraints review and confirmation of utility capacities.
- Operational licences and certificates (if previously held) should be reviewed; purchasers must reapply or regularize where required.
TRANSACTION & SALE PROCESS
- Asking Price: 7,500,000,000 (Open to serious negotiation for timely transaction)
- Sale Type: Outright sale to institutional investors, hotel operators, developers or private equity buyers.
- Confidentiality: Detailed asset pack, plans and financials available under executed NDA and to prequalified parties only.
- Viewing: Strictly by appointment for vetted buyers; proof of funds required prior to document release and site inspection.
NEXT STEPS & CONTACTFor confidential access to the information memorandum, to request a siteinspection or to submit a formal expression of interest, please contact:[Sales Executive / Agent Name]Phone: [Insert telephone number] Email: [Insert professional email]
This is a onceinmarket opportunity to acquire a major hospitality site on Victoria Island with significant upside through repositioning, redevelopment or brand reentry. Serious, prequalified buyers only.
