Asaba Mall’s 7,500 square metres space ready in December

The much talked about Asaba Mall, located strategically at the very popular Interbau Roundabout where Summit and Okpanam Roads intersect, just by the flyover Asaba, Delta State Capital, comes with fascination on the stable of Resilient Africa (Pty) Ltd, a joint venture between Shoprite and Resilient REIT.

The Mall which is the third in the country under the brand covers a land area of 50,000 square metres, preceded by Delta Mall in Warri and Owerri Mall, is slated for delivery in December this year.

The exquisite Mall is estimated to cost $45 million and the project which commenced earlier on 1st June, 2015 with the ground breaking ceremony and scheduled for 18 months’ duration has already achieved 75 percent completion. The equity owners are Resilient Africa (Pty) Ltd, Delta State Government and Bayol Development Company Limited.

The development covers a gross floor area of approximately 9,500 square metres of which approximately 7,500 square metres is the lettable space. There are 39 shops of various sizes with the anchor shop already taken by Shoprite spread out over 3,000 square metres.

Formwork Nigeria Limited is the  main contractor and the Professional Team comprises a list of well known companies which include WSP for mechanical and electrical engineering, Pro-M for airconditioning and mechanical services and Profica as Project Manager. Messrs NWS Nigeria Limited is the project quantity surveyors and LYT Nigeria Limited (Architects). Broll Property Services and Bullnet Brokers are the joint leasing agents.

On why Asaba was chosen for the Mall location, the Chief Executive Officer of Resilient Africa, Eddie McDonald posited that the choice was based largely on demographic factors, a strategic and commercially viable location and the average disposable income of the residents among others. It was also largely driven by the desire of Shoprite to establish a foothold in Asaba.

McDonald reiterated that some other major cities in the country have been slated for the location of Malls under their brand, namely Port Harcourt, Benin, Uyo and Abeokuta as these in the pipeline.

The development is proposed for lease and the regular lease term is 2 years, rental can be conveniently paid quarterly to ease cash flow for the retailers. Asaba Mall is generally targeted at retailers who operate locally, nationally and internationally and trade in a wide range on goods and services such as boutique, entertainment, furniture, household goods, fashion, IT and electronics among others. Upon completion and commissioning, the Mall will be handed over to Broll Nigeria for day to day management.

Asaba Mall is conceived and planned to be finished in all facets from the floor to the roof to international standards for which the bespoke commercial brand is well known for globally. Similarly, the range of facilities including central air conditioning and back up electricity generators and others that will be provided is exclusive and state of the art. Efficient security is assured with smart, eagle-eyed personnel working closely with electronic gadgets while ample parking space is available to shop owners and shoppers alike.

The Asaba Mall Tenants’ Forum has been slated for 24th August, 2016 at Oriental Hotel in Lagos and an invitation is extended to any potential tenants to make contact with any of the leasing agents to indicate their interest.