James Whitmee

I am in Lagos researching the office market on the Mainland, and particularly the sub-markets of Oregun, Ikeja, Ilupeju and Isolo.

In terms of prime offices on the Islands, we are shortly likely to see a reasonable amount of Grade B+/Grade A- space coming to the market with the relocation of Total to Eko Towers and KPMG's consolidation in VI.

In terms of other news, there is new tenancy law which apparently restricts upfront rent payments to one year. The law's details are currently sketchy but it may be targeted at the less good commercial areas of Lagos as it appears to exclude VI, Ikoyi and Ikeja GRA.