When the iconic Maryland Mall is eventually built, residents of the Maryland axis of Lagos may not need to visit any other facility to shop or play. Some of the big names in the shopping and entertainment sectors are prospective tenants at the mall. They are led by Shoprite and Genesis Deluxe Cinemas that are the anchor tenants, reports Bennett Oghifo
The Maryland Mall is a redevelopment of the popular Maryland Business Plaza and it is being built on a 7,700 sqm piece of prime land located on Ikorodu Road in the Maryland area of Lagos.
Specifically, the mall is situated along the arterial route of Ikorodu Road, on a corner plot of land at the entrance to Okupe estate which is a prime area of the busy Lagos Mainland axis. It is strategically placed within proximity to numerous banks, offices, hotels and major roads linking to the Central Business District as well as the Murtala Mohammed International Airport.
According to the Managing Partner, Purple Capital, Olaide Agboola, the Maryland Mall will perhaps make it unnecessary to visit some of the closest retail centres of note within its easy reach such as; the Ozone Centre in Yaba; Adeniran Ogunsanya Mall in Surulere; and the Ikeja City Mall in Alausa.
At a tenants’ meeting held recently, he said the new Mall is conceived to cater to people in the busy vicinities of Mende, Anthony, Ilupeju, Ojota, GRA Ikeja, Oshodi, Gbagada Phase 1 and 2 among many others. The mall will play host to a mix of local and international brands anchored by Shoprite and Genesis Deluxe Cinemas. Stanbic Bank, Axa Mansard and Purple Money are the key financial services firms at the mall.
He stated that Maryland Mall has already achieved 90 per cent tenancy and that activity in the food court is expected to be sensational with a growing waiting list and confirmed tenants such as Barcelos, Sweet Kiwi, Euphoria Smoothies, Shuttles, Playzone, Cupyd Patisserie and 3 Zees Restaurant and Bar. Complementary Entertainment at the mall alongside Genesis Cinemas includes Playzone and the first ever purpose built skating rink in Nigeria, Skate City.
Other tenants include Lifemate Furniture, Medplus Pharmacy, Samsung, DSTV, Montaigne Place, Tecno Mobile, Twice as Nice, Little weavers, Tesla Mobile, Asset Chemist, Plug Devices, Nett Pharmacy, LAX, Babybliss and Bollywood Hair.
The promoters said the mall is currently in talks with potential tenants like: PEP Store; Chicken Republic; Slot; Lafront Nig Ltd; Tantalizers Plc; Sumptuous Meals; Quesome Limited; Bee Logic Communications; FFSS Ltd; The Place; Opal Jazz Lounge; Wakanow; and OYEOG.
The construction of the iconic mall began in September 2014, with scheduled opening on March 27th 2016 in time for the Easter Holiday.
“The carefully designed structure will be home to over 40 shopping outlets, banks, restaurants, a supermarket and a state of the art cinema facility. The mall with total Gross Lettable Area (GLA) of approximately 7,000 sqm consists of 3 floors inclusive of a mezzanine floor. The mall also includes basement parking with capacity for over 210 parking spaces making it the first purpose built basement parking for an urban built retail centre in Nigeria.”
Key milestones achieved include the Largest Outdoor LED Screen in Sub-Saharan Africa, measuring approximately 520 sqm being managed by Optimum Exposures, a member of the Troyca Group led by Mr. Biodun Shobanjo.
The Managing Director of Optimum Exposures Engr. Bayo Adio stated that “The Interest level on advertising opportunities in Maryland Mall has been very high and we are quite proud to be the chosen advertising partner for this project.”
The leasing agents Mr. Rogba Orimalade of Rogba Orimalade &Co and Mr. Gbenga Olaniyan of Gbenga Olaniyan and Associates in a joint statement stated that majority of the confirmed leasing spaces were executed within the first 180 days of moving to site.
“We are now at a stage where interest in the few remaining spaces is quite high with various brands clamouring to be a part of history. We are set to open for Easter!”
The project is anchored by a World Class development team, boasting local expertise and international best practice. The team is led by the Developer & Financier: Purple Capital Partners Limited. Purple Capital is a specialist investment firm with business areas in Principal Investment, Private Equity and Real Estate; investing in opportunities that allow for stakeholders value creation.
“The firm currently has interest in financial services including a CBN licensed Microfinance Bank, Purple Money Micro Finance Bank Limited and real estate including the ongoing development at the Art Hotel, Oniru Lagos which upon completion will be managed by the Mantis Group. Purple’s interest also includes residential estate developments, the firm recently concluded the Redworth Terraces, Ikate, Elegushi, Lagos.
“Purple is currently in talks with domestic and international investors to raise funds for the purpose of increasing its real estate portfolio of Grade A retail and commercial space, in various urban locations.”
According to Mr. Hamish MacLennan of AECOM Nigeria, “The style of building adopted by Purple Capital is quite unique and one to be branded and institutionalized in the Nigerian Retail Space.”
Also, Mr. Roberto Finco of Horatio Limited, the contractors stated that “The level of cohesion and professionalism by an all Nigerian development team allowed us the momentum required and we are set to deliver the mall in record time.”