A new dawn is berthing at the Lagos Island Central Business District (CBD), as Marina Corridor, once regarded as the most popular location in the Lagos Island up till late 80’s before the financial Institutions and multinationals started relocating to places such as Victoria Island, Ikoyi and Allen Avenue, as a result of then attributed to infrastructure breakdown, coupled with the menace of miscreants, but now speedily regaining its old glory.
Serving as impetus are the combination of the new master plan developed by the Lagos State government for this once prosperous central business district on one hand, and investors determination to key into the regeneration plan.
Presently, the Central Business District (CBD), that included Marina corridor has already attracting huge investments.
Among early investors that is taking practical step to actualise the vision of government is Messrs Wemabod Estate Limited, (a subsidiary of Odu’a Investment Company Limited), one of the leading real estate giant, which has already signed memorandum of understanding (MoU), with another renown architectural firm and developer, Springfield Development Company Limited, to redevelop the Unity House located at 37, Marina Street, Lagos Island.
The 21-storey edifice, described as “symbol of Yoruba unity”, was built 54 years ago by the Governor of the old Western Region, late General Adeyinka Adebayo,
Speaking at the signing of the agreement between the two partners last week, Chairman, Wemabod Estate Limited, Hon. Kayode Alufa, said that it has become imperative to ensure that Unity House, a legacy left behind by the founding fathers to foster unity among yoruba nation receives a modern outlook.
According to Alufa, the Board and management of Wemabod observed that the property is going obsolete and infrastructure no longer meet the reality of time, hence, the conclusion that something significant must be done to ensure that the vision of the founding fathers was not defeated.
“The best way to preserve this legacy is to redevelop the building to meet the 21st Century edifice and this is why it took some time to get into business, because we need to look for a partner that possesses the requisite qualifications, both in funding and technical competence, therefore, the choice of Springfield.
“The approval of the project and choice of consultant were painstakingly perused over, not only by Wemabod management, but also the parent body, Odu’a Investment Company Limited”, he said.
Speaking in the same vein, Wemabod’s Managing Director/CEO, Mr Olumide John Ologun, said the aim of the company is to provide a smart office environment that will not only be the first of its kind in Nigeria, but also in Africa.
According to Ologun, the vision of the management over Unity House is to provide the best in architectural development, saying the decision for redevelopment was not a solo arrangement, but worked out by the board, the management, the parent body and eventually, shareholders’ approval.
“Apart from the fact that the unity of Yoruba race which Unity House symbolises is preserved, we determined to rejuvenate this iconic building and have a decent economic value.
“Contrary to the perceived delay in taking action, there is need to painstakingly go through the process of choosing partner, because Unity House is one of the biggest investment of the parent body, Odu’a Investment Nig. Ltd. That needs to devoid hasty decision,” he said.
Speaking on the role his firm would play in actualising this dream, Principal Partner, ab.dt, an architectural firm, who is also the Director, Springfield Development Company Ltd., Architect Olatunji Bolu, while hesitating to divulge the architectural details of the redevelopment programme, was quick to state that the project is going to be “Ultra modern Intelligent building that would respond quickly to the need of users”,
Bolu, a former President of the Nigerian Institute of Architect (NIA), listed features that would adorn the redevelopment plan to include restaurant that is designed to occupy the last floor of the building facing the lagoon to provide maximum relaxation opportunity.
Besides, he said the offices are to be modernised where elevators with modern technology would be installed and many of the current facilities to be completely changed.
Springfield boss also defended the three years completion period, including the projected N3billion cost of the project.
“Three years stipulated completion date is feasible. We have got our works clearly marked out because we have a contracting firm, Pointi & Co., that has been operating in Nigeria since the 60s.
“Besides, I have no problem about the exchange rate because I am pretty sure that economy is on the path towards improvement, hence, naira stability,” he said.