New grounds have broken on the real estate market as Lagos authorities have acquired the famous Elephant Cement House, a multi-storey office complex situated at Ikeja Central Business District at a cost of N3.1 billion.
The building was home to Lafarge Africa Plc, a leading Sub-Saharan Africa building materials company and a subsidiary of LafargeHolcim, owners of the commercial property.
Tenants in the flagship property include Lagos government agencies, corporate organisations and leading players in the banking industry, UBA and Stanbic IBTC.
Already, the state has taken possession of the edifice and renamed it, Lagos Revenue House. The facility situated on a land area of 10,307.97 square metres with a car park of4, 687 square metres. The total built area is about 1,700 square metres while its green area is about 800 square metres.
Similarly, the new Lagos Revenue House has eight floors. The facility has 4 (four) wings labeled A, B, C and D. Wing A, B and C have 7 (seven) floors while Wing D (inner Rotunda) has 8 (eight) floors (a Penthouse). Architectural wings A and C are bilaterally symmetrical with the same features.
Essentially, the facility has office spaces of 1,640 square metres per floor and 11,450 square metres office spaces. The designated guest car park accommodates 220 cars. Other features include conference room and banking hall.
Officials of the State Government could not respond to several efforts to get their comments. The deal, The Guardian learnt was wrapped up by Babatunde Fashola administration and was shrouded in secrecy. At a point it became controversial before the latest admission by the authorities.
But the Chief Executive Officer, Lafarge Africa, Michel Puchercos, said the disposal is part of the company’s turnaround and divestment plan. “Our main divestment relates to the disposal of the Elephant Cement House to the Lagos State Government for N3.1 billion, generating a capital gain of N1.2 billion, ” according to a financial statement submitted to the Nigerian Stock Exchange (NSE) for the Q1 2017.
Meanwhile, the State’s Ministry of Works and Infrastructure on behalf of Lagos State Government has launched a search for competent facility management service providers/contractors to manage the public asset “in pursuance of its infrastructural assets maintenance and management plan has embraced the culture of facility management to ensure professional maintenance of the State Public Assets.”
The tender is seeking contractors or consortium for the major architectural/structural maintenance and repairs; mechanical/ electrical maintenance and repairs; replacement of fixtures and fittings; power management; sewage and water management; landscaping; painting; pest control and fumigation as well as general routine maintenance works.