okeymadu:
I'm a banker and have appraised and also recommended similar shopping-complex projects for financing to my bank. Can we do offline?

I will like to make some suggestions on how you can make it more commercial and increase the ROI.

Please contact me if you don't mind.

Thanks

If you try to finance project like this in chimawa,I sorry for you ooooooo

Shingles Design

Black and White

Quotation for Shingle black and white

Roofing 462sqm*2,800=1,293,600

ACCESSORIES

Ridges caps 100m*1600=160,000
Valley gutter 30m*1500=45,000
Bash board. 7m* 1600=11,200
nails 5packs*8,000=40,000
sealant 3sets*5000=15,000
Installation fees 462sqm*200=#92,400
Transportation and loading =#22,500

Grand total=#1,679,700

Location: Lotto Simawa in ogun state

Duration : 30-09-2016 to 02-10-2016

NOTE: Shingle Design is now #3,200 persqm due to the exchange rate in the country (Nigeria)

CALL/WHATSAPP : 08085310359

www.nairaland.com/attachments/4253583_4086243img20160804wa0006jpeg63105bfdad116c87eeba44f84bf85777_jpege7339b9a2d6b3232ec6c5c0a62f5a365

www.nairaland.com/attachments/4308499_dsv_jpeg00b870c0b896a878e0fed6be54a0fe85

www.nairaland.com/attachments/4308500_ds_jpeg27f3de926dc03afa9be75173ed229de0

www.nairaland.com/attachments/4308501_hn_jpeg5ea1a360ed30c54e5e726cbe4d745cb4

www.nairaland.com/attachments/4308502_kl_jpegf164b2973332e0ac995a52565c2c9ccb

adindril7:
Hey Guys,

Im planning to build a shopping center on one acre of land and have no idea of how many shops can be built on it or what the structures would be, im pretty open to any ideas.

I was referred to a building contractor by a friend.. He gave me these pictures and he said he could be able to build this for 120Million naira
( First two pictures) [img][/img][img][/img]

During the course of our discussion, he also said he could be able to build 9 shops and 1 eatry on the site for 36 Million Naira.

He now sent me the plans of what he's proposing.

I also contacted another reputable construction company, they said they could be able to build 10 - 13 shops on the same land for between 65M - 85M, they've already done some projects for me which im impressed with.

Now im confused, i would be saving a huge amount of money if the building contractor handles it because what he's proposing is way lesser than the big construction company, but im a little bit concerned if he's only trying to scam me as i've never dealt with him before.

I dont know how to attach photos to this site, but the first and second pictures are what he said he could build for 100 Million naira..

The Third and fourth pictures are what he said he can build for 36 Million naira, please who do you think i should trust with this project. Im a Nigerian in abroad, i need to make a decision this week or next.

This op u get money oooooooo, make God answer ma own prayer too... For now boys still they hustle for 20k per month... When people mention money on nairaland, I do wonder if no be d same naija we they

adindril7:
Hey Guys,

Im planning to build a shopping center on one acre of land and have no idea of how many shops can be built on it or what the structures would be, im pretty open to any ideas.

I was referred to a building contractor by a friend.. He gave me these pictures and he said he could be able to build this for 120Million naira
( First two pictures) [img][/img][img][/img]

During the course of our discussion, he also said he could be able to build 9 shops and 1 eatry on the site for 36 Million Naira.

He now sent me the plans of what he's proposing.

I also contacted another reputable construction company, they said they could be able to build 10 - 13 shops on the same land for between 65M - 85M, they've already done some projects for me which im impressed with.

Now im confused, i would be saving a huge amount of money if the building contractor handles it because what he's proposing is way lesser than the big construction company, but im a little bit concerned if he's only trying to scam me as i've never dealt with him before.

I dont know how to attach photos to this site, but the first and second pictures are what he said he could build for 100 Million naira..

The Third and fourth pictures are what he said he can build for 36 Million naira, please who do you think i should trust with this project. Im a Nigerian in abroad, i need to make a decision this week or next.

well am a building contractor and am currently handling a project at orlu4 a south african guy,I should well advice u to follow ur mind. And again where is d land located,because location matters,then contact a town planner to advice u on wat to do.pls don't rush,just take ur time,money is hand to get but easy to spend,make sure he is a christian n u no everytin about him,pls don't fall into a scam or fraud,thanks n God bless.

OP with 9 shops I wont call that a shopping mall. And the money quoted for you would be better invested in something else unless your telling me that 9 shops will give you an annual yield of over 10/15 percent which I doubt . But this is my own opinion sha.[size=10pt][/size

The elevation/perspective designs attached shows it's a 3/4 storey building and your floor plan shows bungalow cos there's no stairway on your design. Well, I hope you are truthful about the project/cost cos one acre of land is massive for 9(nine)-shops/N120million which the yearly returns wont be upto N1million.

This is what you will have to do:

- Get a good Architect/building engineer, he will get you a rough sketch of your proposed plan and he will advise you if the location is suitable for your project and other stuffs, they might charge you but it's worth it. Then,
- Get a Quantity Surveyor, he will quantify/estimate the bills and get you the recent price/cost of supplies/materials to complete the project.
- Now you have the estimate of your proposed project maybe N90million, you can now get a Building/general contractor (which is the people you are dealing with now) that will be responsible for the day-to-day oversight of your construction throughout the course of the building project.
- The Architect still remains your site supervisor cos construction must conform with your earlier plans and designs.

A piece of advise, your site location matters when building a shopping complex, you have to be sure there's enough human traffic in the vicinity, it all comes down to proper planning or else your funds will get stuck. Best of luck in your project man.

olumide4christ:


[b]Who says the commercial project wouldn't fetch you quick money In fact, it is easier to make money from commercial projects than residential projects, unlike what someone said above.

Commercial tenants pay rent faster and easier than one-man residential tenants.

Shopping malls are opening up everywhere in Lagos here, I don't know where your site is located.

Offices are still a hot cake here in Lagos WHEREAS there is currently a glut of residential houses that are vacant simply because they are overpriced and/or the purchasing power of individuals has been reduced due to the economic downturn in the country.

What about eateries ---- many fast food retail chains are opening up outlets in different locations to keep abreast with the competition.

What about event centers ---- you could also consider including that depending on the size of your land and location. I did a kind of feasibility study for a silent Nairalander here earlier this year....the income to be obtained from hiring out event centers for just 2 times in a month (to be minimalistic) within 1 year is great and the return on investment is quick, far more than a residential building.

In some locations in Lagos, an event center could be hired for btw N300,000 -N800,000 for just a day depending on the seating capacity, car parking space, location, etc. That amount is what you would get from 1 tenant renting a 2-bedroom or 3-bedroom flat in 1 year or even 2 years, depending on the location. Funny enough, with the advent of marquee tents now commonly used for event centers, you would spend less on initial capital expenditure than you would on building a block of flats for residential flats.

Advantages of commercial properties over residential properties -

1. Commercial tenants pay rent faster and easier than one-man residential tenants
2. Commercial tenants maintain the property better than residential tenants
3. Commercial properties have higher return on investment and faster payback period than residential properties
4. It is faster to get tenants for commercial properties than residential. The picture attached below is a commercial development beside Grand Square (a popular shopping mall -the building with red roof in the background) on the highbrow Adetokunbo Ademola street in Victoria Island, Lagos in which I was the Quantity Surveyor. The project ended February 2016 and 2-3 months later, the property has been leased by a corporate entity; of course the rental rates in that axis is one of the highest in Lagos, but it was leased very fast despite the harsh economy.

Please go ahead with your plan; you are on the right track!!![/b]

SHALOM!

I've really learned a lot from this info. I have a few plots at shimawa as well;would decide on what to do on it,I've learned so much.

Why don't you share here in the open for everyone to learn from? If OP wanted a one-on-one he wouldn't have posted here in the first place #mtscheeeeeew

okeymadu:
I'm a banker and have appraised and also recommended similar shopping-complex projects for financing to my bank. Can we do offline?

I will like to make some suggestions on how you can make it more commercial and increase the ROI.

Please contact me if you don't mind.

Thanks

I wl advice you to work on that location because it won't b fair to invest huge money on a project and didn't yield profit....... what is yielding profit in one area may not in another area.... for example, shopping complex may not yield profit in ilaro compare to self contain that wl quickly b occupied by dangote workers and students..... pls, do needful concerning d area first

I don't think shimawa is that developed to invest such amount in.
if I were you, I would buy a building around Somolu which will cost about 10m to 12m, demolish and rebuild a 2 storey building of 6 flats.
Somolu is like centre which is closer to ikeja, CMS, VI, surulere.

Rent in this area is high, a 3bedroom flat cost between 500k-600k and it's also well known as commercial printing area.

With this, you can make y money back in 10years or less.

Good bless Nigeria.

If u want to build a shopping mall,u first of all nid to consider d area of d site, accessibility n functnality, as an architect, u can v more dan 13 shops n still v a restaurant n even add a cinema to entice people. U v to combine big shops with small shops . Can give u dimensions of d shops if u r interested. U can whatsapp me on 08128519493

olumide4christ:


Sir, as a Quantity Surveyor with many years of experience in numerous projects & with my knowledge of current market prices, I seriously doubt that your building contractor will complete the shopping mall or 9 No. Shops with eatery for N100 million or N36 million respectively. When you add the cost of external works (paving stones, water treatment plant, septic tank & soakaway pit, fencing, drainage, water tank gantry, etc) without which the shopping mall/eatery will not be functional, such figures listed above are unrealistic!

Exactly my thought been an architect.

adindril7:
Hey Guys,

Im planning to build a shopping center on one acre of land and have no idea of how many shops can be built on it or what the structures would be, im pretty open to any ideas.

I was referred to a building contractor by a friend.. He gave me these pictures and he said he could be able to build this for 120Million naira
( First two pictures) [img][/img][img][/img]

During the course of our discussion, he also said he could be able to build 9 shops and 1 eatry on the site for 36 Million Naira.

He now sent me the plans of what he's proposing.

I also contacted another reputable construction company, they said they could be able to build 10 - 13 shops on the same land for between 65M - 85M, they've already done some projects for me which im impressed with.

Now im confused, i would be saving a huge amount of money if the building contractor handles it because what he's proposing is way lesser than the big construction company, but im a little bit concerned if he's only trying to scam me as i've never dealt with him before.

I dont know how to attach photos to this site, but the first and second pictures are what he said he could build for 100 Million naira..

The Third and fourth pictures are what he said he can build for 36 Million naira, please who do you think i should trust with this project. Im a Nigerian in abroad, i need to make a decision this week or next.

For such a commercial premises, you require the services of experts.
Cheapest might become an expensive mistake on the long run............
You need to visit both contractors and have a physical meeting with them, also visiting other contractors.
If need be, visit other malls and make enquiries on the contractors that handled their projects.............

adindril7:
Hey Guys,

Im planning to build a shopping center on one acre of land and have no idea of how many shops can be built on it or what the structures would be, im pretty open to any ideas.

I was referred to a building contractor by a friend.. He gave me these pictures and he said he could be able to build this for 120Million naira
( First two pictures) [img][/img][img][/img]

During the course of our discussion, he also said he could be able to build 9 shops and 1 eatry on the site for 36 Million Naira.

He now sent me the plans of what he's proposing.

I also contacted another reputable construction company, they said they could be able to build 10 - 13 shops on the same land for between 65M - 85M, they've already done some projects for me which im impressed with.

Now im confused, i would be saving a huge amount of money if the building contractor handles it because what he's proposing is way lesser than the big construction company, but im a little bit concerned if he's only trying to scam me as i've never dealt with him before.

I dont know how to attach photos to this site, but the first and second pictures are what he said he could build for 100 Million naira..

The Third and fourth pictures are what he said he can build for 36 Million naira, please who do you think i should trust with this project. Im a Nigerian in abroad, i need to make a decision this week or next.

Where is ur land located?
Send a copy of ur layout

God bless you ooo, imagine shimawa?

arthurshelly:


If you try to finance project like this in chimawa,I sorry for you ooooooo

adindril7:
Hey Guys,

Im planning to build a shopping center on one acre of land and have no idea of how many shops can be built on it or what the structures would be, im pretty open to any ideas.

I was referred to a building contractor by a friend.. He gave me these pictures and he said he could be able to build this for 120Million naira
( First two pictures) [img][/img][img][/img]

During the course of our discussion, he also said he could be able to build 9 shops and 1 eatry on the site for 36 Million Naira.

He now sent me the plans of what he's proposing.

I also contacted another reputable construction company, they said they could be able to build 10 - 13 shops on the same land for between 65M - 85M, they've already done some projects for me which im impressed with.

Now im confused, i would be saving a huge amount of money if the building contractor handles it because what he's proposing is way lesser than the big construction company, but im a little bit concerned if he's only trying to scam me as i've never dealt with him before.

I dont know how to attach photos to this site, but the first and second pictures are what he said he could build for 100 Million naira..

The Third and fourth pictures are what he said he can build for 36 Million naira, please who do you think i should trust with this project. Im a Nigerian in abroad, i need to make a decision this week or next.

[b]Op, I don't know how close your plot is to the main redemption camp. If its so close to the camp, it will still be advisable to do a commercial property. A lot of people have identified the location as the major drawback. They are right but it will still be more profitable to build a shopping mall/complex than bungalows or block of flats or duplexes' like someone said earlier on this thread. REASON - How much is the going rent for residential accommodation in Simawa? For a 2-bedroom flat, it might be N150000-200000 per annum. The cost of building in Simawa isn't much different from Lagos. Thus, the payback period for residential property in Simawa will be far longer than that of Lagos..it might be 20+ years or more. This is investment appraisal we are doing here.
My advice - residential property for rent in Simawa is a no-no; commercial property has better prospects if its close to the camp. You will need to do an indepth feasibility study on it or you get a plot in a more strategic location.

SHALOM![/b]

adindril7:
I dont have any idea of the shop size, i want to build an eatery so as to draw attention to the shopping centre.. i intend to lease all the shops and the eatery out. The sole intention of the project is to make profits, from the investment. The land is in shimawa behind redemption camp, i bought it from a reputable property company. There would also be other shops around, the whole area is still being developed.

Im open to any ideas, suggestions..

If i were you,conduct a feasibility and viability appraisal first of all on that land. You can contract a reputable estate firm like Jide taiwo& co, Gbenga Olaniyan & Co et al. They can advice you on whats best to built,handle the project as well and let it out quickly too. No need to stress yaself since u aint in Naija

For me as an experience developer and project manager. I will advice you to get a QS to prepare a BOQ. You will do the buying of all materials yourself and negotiate for the services of an engineer with labour. Just take my advice and you will get a maximum result. That's the way I handle my clients abroad.You can contact me for more details,no idea is a waste

kinds regards
Chris
07033263390
osheiduchris@gmail.com

you want to spend 36million for just 9 shops,an event centre and what else..oga..dont throw ur money away..there is no point naming large figures or spending much to achieve less,you are more or less investing by building a shopping mall....so I assume you want to make your money back..I am an architect...if i were you..i won't do a lump sum contract....i will rather do a plan costing....based on certain parameters....i wish you all the best..

Wisdom is knowing what to do and DOING IT. First things first, architectural consultancy is required, which will then take all the worries off you by coordinating other professionals(i.e, structural, m&e, quantity surveyor etc) depending on the complexity of the project. Please do not start from the back end with contractors before reversing/reverting to the consultants, in this case, architectural. Mind you, there's still the government approval standards to worry about and no construction engineer can seal your drawings for govt approval. Once you consult an architect, you will be able to go to bed. Architects are trained to THINK, in order to best advise both clients and every other person involved in the built environment. That is why they are referred to as the CHIEF CONSULTANTS.

With your architectural drawing, you will be certain of the actual number of spaces with their dimensions and thereby eliminate mere speculations by those who are not trained in the precise and measured art of architecture, which includes civil engineers and building contractors/construction companies. Theirs is to interprete drawings on site based on the architects instruction. With your drawing, the quantity surveyor can then come up with a precise BILL OF QUANTITIES(BOQ), still under the supervision of the architect. Do not miss these important steps please.

adindril7:
Hey Guys,

Im planning to build a shopping center on one acre of land and have no idea of how many shops can be built on it or what the structures would be, im pretty open to any ideas.

I was referred to a building contractor by a friend.. He gave me these pictures and he said he could be able to build this for 120Million naira
( First two pictures) [img][/img][img][/img]

During the course of our discussion, he also said he could be able to build 9 shops and 1 eatry on the site for 36 Million Naira.

He now sent me the plans of what he's proposing.

I also contacted another reputable construction company, they said they could be able to build 10 - 13 shops on the same land for between 65M - 85M, they've already done some projects for me which im impressed with.

Now im confused, i would be saving a huge amount of money if the building contractor handles it because what he's proposing is way lesser than the big construction company, but im a little bit concerned if he's only trying to scam me as i've never dealt with him before.

I dont know how to attach photos to this site, but the first and second pictures are what he said he could build for 100 Million naira..

The Third and fourth pictures are what he said he can build for 36 Million naira, please who do you think i should trust with this project. Im a Nigerian in abroad, i need to make a decision this week or next.

I quite agree with olumide4christ on his P.O.V

Thinking commercial would surely pay returns faster and add to that the long term benefits of such a development in such an area.

However, instead of a pure shopping mall why not think temporary residential? I mean boarding/hostel kind of building given the kind of crowds the several churches attract to the location.

Worshippers attending the Redeemed camp or any other around there could be a surer market than businesses taking up stores in your mall. Again, location is supreme in real estate.

adindril7:
Hey Guys,

Im planning to build a shopping center on one acre of land and have no idea of how many shops can be built on it or what the structures would be, im pretty open to any ideas.

I was referred to a building contractor by a friend.. He gave me these pictures and he said he could be able to build this for 120Million naira
( First two pictures) [img][/img][img][/img]

During the course of our discussion, he also said he could be able to build 9 shops and 1 eatry on the site for 36 Million Naira.

He now sent me the plans of what he's proposing.

I also contacted another reputable construction company, they said they could be able to build 10 - 13 shops on the same land for between 65M - 85M, they've already done some projects for me which im impressed with.

Now im confused, i would be saving a huge amount of money if the building contractor handles it because what he's proposing is way lesser than the big construction company, but im a little bit concerned if he's only trying to scam me as i've never dealt with him before.

I dont know how to attach photos to this site, but the first and second pictures are what he said he could build for 100 Million naira..

The Third and fourth pictures are what he said he can build for 36 Million naira, please who do you think i should trust with this project. Im a Nigerian in abroad, i need to make a decision this week or next.

Shimawa is a No-No in my opinion. Since you have this kind of money, why not take the advise of the poster I quoted below by buying an old building in a developed area (not necessarily shomolu), destroy/renovate it then rent it out. You can even do the sshopping complex in that area and it will surely be taken unlike shimawa. Unless shimawa is your home-town and you are feeling philanthropic to have a big building on display, don't try it abeg.

kunletoks:
I don't think shimawa is that developed to invest such amount in.
if I were you, I would buy a building around Somolu which will cost about 10m to 12m, demolish and rebuild a 2 storey building of 6 flats.
Somolu is like centre which is closer to ikeja, CMS, VI, surulere.

Rent in this area is high, a 3bedroom flat cost between 500k-600k and it's also well known as commercial printing area.

With this, you can make y money back in 10years or less.

Good bless Nigeria.

okonja:


Africa isn't poor, she's just poorly managed.

Bro if I wanna buy thus spevtranet for my phone...how much do I need to be subscribing a month

If you have the money, please do it, we need more shopping malls.

olumide4christ:


[b]Who says the commercial project wouldn't fetch you quick money In fact, it is easier to make money from commercial projects than residential projects, unlike what someone said above.

Commercial tenants pay rent faster and easier than one-man residential tenants.

Shopping malls are opening up everywhere in Lagos here, I don't know where your site is located.

Offices are still a hot cake here in Lagos WHEREAS there is currently a glut of residential houses that are vacant simply because they are overpriced and/or the purchasing power of individuals has been reduced due to the economic downturn in the country.

What about eateries ---- many fast food retail chains are opening up outlets in different locations to keep abreast with the competition.

What about event centers ---- you could also consider including that depending on the size of your land and location. I did a kind of feasibility study for a silent Nairalander here earlier this year....the income to be obtained from hiring out event centers for just 2 times in a month (to be minimalistic) within 1 year is great and the return on investment is quick, far more than a residential building.

In some locations in Lagos, an event center could be hired for btw N300,000 -N800,000 for just a day depending on the seating capacity, car parking space, location, etc. That amount is what you would get from 1 tenant renting a 2-bedroom or 3-bedroom flat in 1 year or even 2 years, depending on the location. Funny enough, with the advent of marquee tents now commonly used for event centers, you would spend less on initial capital expenditure than you would on building a block of flats for residential flats.

Advantages of commercial properties over residential properties -

1. Commercial tenants pay rent faster and easier than one-man residential tenants
2. Commercial tenants maintain the property better than residential tenants
3. Commercial properties have higher return on investment and faster payback period than residential properties
4. It is faster to get tenants for commercial properties than residential. The picture attached below is a commercial development beside Grand Square (a popular shopping mall -the building with red roof in the background) on the highbrow Adetokunbo Ademola street in Victoria Island, Lagos in which I was the Quantity Surveyor. The project ended February 2016 and 2-3 months later, the property has been leased by a corporate entity; of course the rental rates in that axis is one of the highest in Lagos, but it was leased very fast despite the harsh economy.

Please go ahead with your plan; you are on the right track!!![/b]

SHALOM!

Bro God bless you. You are absolutely on point. I am just scouting for a place for a shopping mall in Enugu or Awka. Two of my tenants are still owing me. One just parked out owing me 5 months rent.

For the first two fotos, I really don't think the price he is giving you is going to be sufficient considering the size and expected finishing...also considering the external works...

adindril7:
I dont have any idea of the shop size, i want to build an eatery so as to draw attention to the shopping centre.. i intend to lease all the shops and the eatery out. The sole intention of the project is to make profits, from the investment. The land is in shimawa behind redemption camp, i bought it from a reputable property company. There would also be other shops around, the whole area is still being developed.

Im open to any ideas, suggestions..

Can we pm or talk on the phone for investment business as regards your project? Or mail collins@reanetv.com

adindril7:
Hey Guys,

Im planning to build a shopping center on one acre of land and have no idea of how many shops can be built on it or what the structures would be, im pretty open to any ideas.

I was referred to a building contractor by a friend.. He gave me these pictures and he said he could be able to build this for 120Million naira
( First two pictures) [img][/img][img][/img]

During the course of our discussion, he also said he could be able to build 9 shops and 1 eatry on the site for 36 Million Naira.

He now sent me the plans of what he's proposing.

I also contacted another reputable construction company, they said they could be able to build 10 - 13 shops on the same land for between 65M - 85M, they've already done some projects for me which im impressed with.

Now im confused, i would be saving a huge amount of money if the building contractor handles it because what he's proposing is way lesser than the big construction company, but im a little bit concerned if he's only trying to scam me as i've never dealt with him before.

I dont know how to attach photos to this site, but the first and second pictures are what he said he could build for 100 Million naira..

The Third and fourth pictures are what he said he can build for 36 Million naira, please who do you think i should trust with this project. Im a Nigerian in abroad, i need to make a decision this week or next.

@adindrill7: still babbles me to high heavens how u disaporians
Ask dis same questions over and over and u r supposed to be living
In a more developed and advanced country than Nigerians.
If u have 100million and above to invest Nairaland shouldn't be your
Next port of call for advice Walachia.
Professionally assemble a team of architect,QS and a builder/civil engr
And pay them professionally to come up with a draft(architect), a bill(QS)
And a bid(engr) and contract a reputable estate values to do feasibility study
Of the location of building/site to see if u will make a reasonable return on your
Investment before committing your money.thats how its been done where u live!

Finally,take a month leave and be on ground to oversee your project even if u
Give it to Julius Berger! When your leave is up suspense d project and workout
Another leave till you reach all milestones or better still engage a project management
Firm independently to act in your stead if u can't be available.earmark 10% of ur total
Cost to pay all professionals involve don't behave like a Nigerian oooo to avoid tales by moonlight.

Cheers and happy building.

Dear Sir,

Shopping mall is a kind of hospitality industry. First step is the description of your targetted customers. After than, you may deside the profile of shop brands, food areas etc.
To be able to choose that customer profile type (B, A, A+) you need to play with the ratio of investment/profit.

Because after carcas, sky is the limit for construction building.

All this are according to your targets/budget; but first point is Feasibility study.

l have some samples for that study.

Last; you may import lots of materials like marble, sanitary etc. yourself.

Best Regards,
Eng Kayhan Benek
+905327607234
www.bilginmuhendisliktr.com