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Ikota Shopping Complex, VGC, Lagos, Nigeria


Business Directory » Shopping » Shopping Centers
Lagos

Ikota Shopping Complex has become a major landmark in the Lekki Ajah expressway such that when the popular VGC estate is mentioned, what really comes to a mind is Ikota Shopping Complex. (It is located beside VGC estate and directly opposite Eleganza Shopping Mall). Ikota Shopping Complex was developed by HFP Engineering in 1997 and sits on a land size of 20.220 acres of land.

At the moment, Ikota Shopping complex is a complex where you can get all sort of human needs. Commercial activities in the complex include Eateries, Boutiques, Fashion design shops, Restaurants, Hospital, Pharmacies and Cosmetics shops. Catering services, Beauty Salon, Provision stores, Cold room and stores where you can buy food stuff are part of the activities going on in Ikota Shopping Complex. It services the commercial needs of residents in the Lekki peninsula. Almost all banks have branches in the complex.  Bank PHB, GTBank, Oceanic bank, UBA, First bank, Union bank, Stanbic IBTC and Skye bank are some of the banking firms in the complex. Consultancy and real estate firms are also part of the activities going on in Ikota Shopping Complex. Consultancy firm in the complex include Medical and Financial consultancy. Real estate and consultancy firm in the complex are about 100 and about 15 percent of the shops in Ikota Shopping Complex are being occupied by these firms.

What is available in Ikota Shopping complex in terms of Shop Spaces include shop sizes of 24sqm.  There is no banking hall in the building plan of the complex, but available in Ikota Shopping complex is bank is merge about four or five shops (24sqm per shop) together to make a banking hall. There is no specification for banking size in the complex. (Except for Zenith bank, that was given an open space in which to build). At the moment, Ikota Shopping Complex is fully occupied and there is no available space for sale or let directly from HFP., except you will have to buy from an individuals who already have allocations.

On the rental scale, the 24sqm of shop currently rent for between N500,000 and N600,000 per annum, depending on the location in the complex and whether  the shop comes with a toilet or not.  Shops that come with toilet usually rent higher than those that share the common toilet. Also, shops that are very close to the main entrance are usually more expensive. The rent does not include the service and maintenance charge to be paid monthly. Service charged in the complex include, a common generator, security, cleaners and waste service provided by the management. The service and maintenance charge is N2500 monthly per shop.

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Before Ikota Shopping Complex gained prominence, shops that do not have doors and windows were selling for less than N2million. But as people started moving in, the developers of the complex continue to increase the price and now shops in Ikota Shopping Complex sell between N5.5million to N7million depending on the level of finishing and the location in the complex.

Research carried out by Castles Magazines revealed that, about 10,000 people visit Ikota Shopping complex on a daily basis through the 4 entrances that leads in the complex. About 3000 shops are in the complex.

 
Ikota Shopping Complex is now crowded to the extent that it will be difficult for one to actually get a shop for sale or to let. The question now is if there will be another complex like Ikota Shopping complex on the Island?  In terms of accessibility, infrastructure and what is available in the complex. HFP who are the developer of the Complex is coming up with another shopping complex known as Eastline Shopping complex. The complex will be situated along the Lekki Ajah axis and directly opposite Abraham Adesanya estate and will soon be ready for activity.

Headquarter office

 

For IKOTA Customers

+234 (70) 5681 4567
Hours : Between 9:00-12:00 and 13:00-18:00
(Lagos time) Monday to Friday.

 

For Public Enquiries

+234 (80) 3372 3184
Hours : Between 9:00-12:00 and 13:00-18:00(Lagos time) Monday to Friday.

 

Address

Suite H384, Ikota Shopping Complex

VGC - Lagos

 

Phone +234 (80) 3372 3184
Email contact@iscmart.com
Website http://www.iscmart.com
Address VGC, Lekki-Epe Expressway, Lagos

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