DEADLINE: 10TH JULY, 2025
DIYA, FATIMILEHIN & CO ESTATE SURVEYORS & VALUERS
INVITATION TO BID FOR A PRIME PROPERTY COMPRISING 9-BAY WAREHOUSES AND OFFICE SPACES ALONG KUDIRAT ABIOLA WAY, OREGUN, IKEJA, LAGOS
Interested buyers including logistics or manufacturing companies, real estate companies or commercial corporate or individual investors, are invited to bid for a unique commercial property located on a prime street in the bustling business district of Ikeja, Lagos State capital.
DESCRIPTION OF PROPERTY
The property is situated on Plot 32, Kudirat Abiola Way, Oregun, Ikeja, Lagos, occupying a land area of 38,557.19 sqm of land. It comprises nine (9) bay warehouses and office spaces with a total floor area of 24,036.57 sqm. The property is occupied by reputable companies with soon to expire leases.
SALE PRICE
The reserved price is ₦8.1 billion
BUYER ENQUIRIES & ACCESS:
1. A competitive bidding process has been adopted to dispose of the property.
2. Bid forms are available from the coordinating agent, Diya, Fatimilehin & Co.
SUBMISSION OF BIDS
1. Bids must be addressed to the office of the Sales Agent (see below).
2. The deadline for the submission of bids is July 10, 2025, at 5:00 pm.
BIDDING PROCESS
1. Disposal of advertised properties will be by competitive bidding, and bids must not be below the reserve price.
2. Bids must be made on bid forms and submitted with a duly completed “Know Your Client” form and 5% of the bid amount in a certified bank draft made payable to the sales agent for the property. Bid document and ‘Know Your Client’ forms are to be obtained from the office of the sales agent.
3. Bids must be submitted in a sealed envelope with ‘Bid for property’ and the bidder’s contact address marked on the top left corner of the envelope.
4. The successful bidders will be required to pay the 95% balance of the bid within 3 months of receiving the firm’s approval of sale, failing which the 5% will become non-refundable, and the selling party will be free to offer the property to other buyers.
5. Once submitted, bids cannot be withdrawn or cancelled. If this occurs, the initial 5% deposit becomes non-refundable.
6. Collusion with a selling agent or another Bidder(s) to circumvent any Bid or the Bidding process shall automatically disqualify the Bidder, colluding Bidder and their Bids.
7. Where the selling party’s regulator declines to accept the winning Bid after Ninety (90) days of winning the Bid, the fund deposited by the winning Bidder shall be returned to the winning Bidder.
8. By participating in this bid, each bidder is deemed to have unconditionally accepted all the terms and conditions stated in this advertisement.
PROPERTY INSPECTION
Interested bidders can contact the sales agent for a guided inspection of the property and further enquiries. The property is sold on an ‘as is’ basis (in its presently existing condition).
ACREDITED SALES AGENT
Diya, Fatimilehin & Co
