Development: Victoria Tower/Nestoil Tower, Victoria Island – Lagos – Real Estate Market Data and Research for Nigeria and other African Countries | estate intel

Development: Victoria Tower/Nestoil Tower, Victoria Island – Lagos

Nestoil Tower, Akin Adeolsa Street - Victoria Island

  • Name: Victoria Tower / Nestoil Tower
  • Location: Victoria Island, Lagos – Akin Adesola Street and Saka Tinubu Street
  • Floors: 15 (9 levels of parking, 19 apartments on 5 levels and 14 office floors and a helipad)
  • Size: 11,000sqm (7,500sqm – Office, 3,500sqm residential)
  • Use: Offices (68%), Residential (32%) and recreational facilities
  • Contractor: Julius Berger
  • Developers: Drawcock Estates (Nestoil Group Owner)
  • Expected Completion: December 2015
  • Cost: N24b

Victoria Tower/Nestoil Tower is a mixed-use development consisting of 7,500m2 of office space and 3,500m2 of residential space. This 15 floor development is slated for a December 2015 completion and it also comes with multi-story parking as well as recreational facilities. It is located on the corner of Akin Adesola and Saka Tinubu streets in Victoria Island, a key hub for commercial activity in Lagos. The residential units in this development may be used as guest houses or expat accommodation (at a fee) for companies in the building, and will also be up for lease to other parties interested.

Julius Berger is the contractor for this project, and if Rose of Sharon Tower is used as a benchmark for their capabilities then it should be finished to a good standard. It will cost N24bn and is aimed at attaining a LEED certificate. This means they intend to meet international green and sustainable building standards. Heritage Place, another development in nearby Ikoyi,  is also aiming at attaining a LEED certificate and both have been marketing that their respective buildings will be the first LEED certified or ‘green’ building in the country. Although Nestoil Tower is ahead in terms of construction, attaining the certificate largely depends on build quality and how efficient it is at utilising energy.

Nestoil, Neconde and other subsidiaries will be occupying the upper office floors of the building and leasing opportunities have made public via Fine and Country. See below for images.

Nestoil Tower, Akin Adeolsa Street - Victoria Island

Nestoil Tower, Akin Adeolsa Street – Victoria Island

  • HRH

    Nestoil Towers has taken the mixed use real estate scene in VIctoria Island to the next level going green and being Silver rated by LEED.

    • Its a great mix of elements. Rising Sun also achieved something similar. Nonetheless, I really like the design of Nestoil!