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News Release

Lagos, Nigeria

Mansard Place - Investment Opportunity

Prime Lagos CBD long leasehold investment opportunity

Located in the heart of the CBD on the prestigious and strategic Victoria Island, Mansard Place is an iconic office development let to 5 blue-chip tenants.

Investment Highlights

  • 6,904sqm GLA iconic office development completed in 2013, 95% let to 5 blue-chip tenants: General Electric, Novartis, SAP, Mansard Investments and Business Connexion.
  • "Triple-net" leases with forward annual NOI of USD 6.08 million and attractive yield profile from contractual rental escalations.
  • Property held in SPV with registered clean title to two long leasehold interests with 61 years unexpired.
  • The SPV benefits from Pioneer Status (5-year tax holiday) and is available within an efficient corporate structure, resulting in minimal transaction costs and tax liability.
  • The potential to refinance the senior debt facilities to enhance the capital structure and return profile.
  • The opportunity to partner with a highly respected global insurance group as a minority stakeholder, with potential to acquire a majority interest or outright ownership.