• Saturday, June 22, 2024
businessday logo

BusinessDay

Construction tops out on Alliance Place with compelling value proposition

businessday-icon

With an eye on budget and the delivery time slated for the first half of 2017, work has moved progressively on the Alliance Place and peaked recently when its promoters gathered stakeholders for a topping out event that marked the completion of the structure on the construction side.

The excitement was not lost on the investors and contractors who looked forward to the delivery of the building to the market which is eagerly waiting for its compelling value proposition.

An innovative Grade A office building located in the primary commercial centre of Ikoyi, Alliance Place is a project promoted by Edimara Properties Limited—a joint venture between Africa Capital Alliance (ACA) Holdings Limited and Samges Investment Limited.

The 12-floor office complex has already recorded 50 percent occupancy rate and Obi Nwogugu, Head, Real Estate Unit in ACA, has assured that they were working hard on the remaining 50 percent. “A good number of people are coming to us about the building and we are excited about that”, he stated.

On completion, the building will boast eight floors of flexible office space and meeting rooms; four floors of multi-level parking, a light and airy reception area and a ground floor café. Expectation is that contemporary and international elements along with select African accents will be incorporated into the style of the complex.

Apparently, there is an oversupply in the prime office market and that is a reality that is driving competition and innovation in products offering. “We have to deal with the realities (competition) like everyone else and we think that our building is well positioned with good amenities. The floor-plates are very efficient. We have put in place very compelling green features which will make occupancy cost very competitive”, Nwogugu told BusinessDay at the topping out event.

Though the market in Nigeria has seen increased supply, another challenge has always been in quality products that meet international standard and this is where Alliance Place excels as it is coming to the market with compelling value proposition that has already placed it ahead of competition.

Developers have tried to be ahead of competition through product differentiation which explains Alliance Place’s employment of green and sustainable development features such as smart technology in the building management systems and services aimed at delivering low occupancy costs to its tenants.

The building also promises a high performance glass curtain wall, interior finishes with contemporary look and feel to ensure ease of maintenance and high level user-friendly security, while access control systems will be given top priority for tenants and visitors.

Conscious of the challenge traffic now posses on Alfred Rewane (formerly Kingsway) Road where it is situated, Alliance Place is incorporating a circular traffic management system to enhance safety and accessibility to, and within the building.

Office spaces are designed with high efficiency and flexibility, affording modular spaces ranging from 200 square metres up to 920 square metres on each floor. It is hoped that the building’s central location in Ikoyi will afford tenants premium access to luxury hotels including the Southern Sun and the Wheatbaker as well as recreation facilities like the Ikoyi Club, the Polo Club and the Lagos Boat Club.