Lagos unveils Campbell Centre, first private, public parking facility
As part of efforts to ease pedestrian/vehicular conflicts, address vehicular storage challenge, and generally improve traffic situation in line with its mega-city status, the Lagos State government recently commissioned The Campbell Centre (TCC), its first dedicated private–public parking facility.
The project, a N1.475b joint venture partnership between Ibile Holdings Limited, and private investments warehoused in Willao Nigeria Limited (WNL) houses four different synergetic activities, including vehicular parking, events’ hall, restaurant and a gymnasium.
The building, which used to be the first school of nursing in the country, and had also provided accommodation for the Lagos State Judiciary Commission, the Health Management Board, and the Board of Traditional Medicine among others.
Speaking at the opening ceremony of the centre located at Campbell Street, Lagos Island, on Tuesday, the immediate past governor of the state, Akinwumi Ambode said the project was a testimony to his administration’s commitment to enterprise and mutual partnership between government and the private sector.
Represented by the immediate Commissioner for Commerce, Industry and Cooperatives, Mrs. Olayinka Oladunjoye, Ambode said the project was a precursor of many more such initiatives with private investors.
“Whilst the parking lot supports government’s transport infrastructure initiative of improving on the optimal utilisation of our roads to ameliorate the traffic situation and the promotion of entertainment and tourism. The event hall and restaurant are meant to provide necessary infrastructure for our teeming population as the place of gathering and felicitation. The gym as the name implies is the fourth leg of the Infrastructure wellness. It affords our citizens the opportunity to engage in physical activities with the ultimate aim being sound in the body and sound in the mind.
“The aggregate of it all is the promotion of commerce, employment, wealth creation, clean and safe environment and good health,” he said.Managing Director, Ibile Holdings Limited, Mr. Abiodun Amokomowo, drew attention to the high volume of traffic in the area saying the people battled with attendant congestion, vehiclular storage problems and pedestrian/vehicular conflicts.
According to him, the business model is anchored on the establishment of an SPV, known as Stacks & Leisure Limited (SLL) with Ibile and WNL as their initial shareholders, to build, operate and transfer the development back to IBILE or successor after the granted lease term. He said WNL, which started as a single investor unit has attracted more private investors to its fold namely, Merristem Wealth, Apel Capital and Construction Kaiser.
Managing Director of WNL, Femi Williams called on government to enter into more PPP projects to improve the speed of infrastructure delivery to Lagosians. He said many opportunities like this abound where state land is not being fully utilised. He said they are confident of coming up with interesting ideas that will provide social benefits to the environment and also make good financial returns for all investors.