Sustainable Green Building Winning Formula for Commercial Real Estate Investment Success: The Heritage Place, Ikoyi, Lagos, Nigeria
It’s a wrap! The 14-story LEED-certified Heritage Place office building in Ikoyi, Lagos, Nigeria, has officially achieved 100% occupancy. This world-class project, led by Actis, achieved 100% occupancy levels thanks to its focus on sustainability and green building elements 🌱. This demonstrates that sustainable green building is a recipe for higher occupancy rates and a successful commercial real estate investment strategy.
Key sustainable features such as energy-efficient systems, water conservation measures, and improved indoor air quality have not only made it one of Lagos' most recognizable and accessible office buildings, but have also contributed to its full occupancy success, with top-tier tenants, an eco-friendly environment, and, in the long run, assisting the building to achieve lower operating costs, reduced obsolescence risks, reduced carbon emissions, and delivers long-term asset value.
As the first commercial building in Lagos to achieve LEED certification in both design and construction, Heritage Place's use of cutting-edge technology meets not only today's environmental expectations but also those of the future, making it one of Nigeria's go-to prime-grade office buildings with a sustainability agenda, where companies with ESG targets can achieve their corporate ESG goals and objectives, as well as social benefits.
🏢 14 floors office building comprising 15,736 sq m of office space over eight floors, with the large floor plates offering great flexibility and efficiency fitted to internationally recognized Grade A standards.
🏢 8 floors of rentable office serviced by a double-height reception, meeting, and dining area on the ground floor.
🏢 5 floors for on-site parking of over 350 private car parking spaces.
🏢 Raised floors and suspended ceilings with high space efficiency
🏢 Landscaped piazza with café, restaurant, and other services for the office occupiers.
🏢 Professional property and facility management.
🏢 Full fire sprinkler provision.
✅Between 30-40% reduction in energy use.
✅Low energy consumption to reduce operational costs.
✅Use of natural light and natural ventilation (mixed mode) to minimize energy demand.
✅Automatic presence detectors and high-efficiency lighting reduce and resupply energy when and where it is needed.
✅The building’s orientation maximizes natural light and ventilation, and minimizes solar exposure, reducing the energy requirements for cooling, heating, and air quality systems.
✅Water is recycled throughout: from rainwater harvesting to water reuse in the irrigation of the gardens, condensate recovery from the building’s cooling units, and accurate control systems in the bathroom facilities to reduce wastage.
✅High-efficiency glazing and external thermal envelope also reduce demand on cooling requirements.
✅ Compliance with international health and safety standards.
✅High level of indoor air quality and occupant's thermal and visual comfort increased by ventilation rates, quality of materials, and views out.
✅Attenuation tank proposed to limit discharge/flow rates of foul and stormwater to the local sewers in Lugard Road.
With this achievement and all of the sustainability features, what would be the market value of the 14-story LEED-certified Heritage Place office building on Alfred Rewane Road in Ikoyi, Lagos, Nigeria?
To learn more about the benefits of sustainable green office buildings in Nigeria, including rent and sales premiums, cost savings, construction costs (entry price tag), annual capital appreciation, and cap rates, please obtain a copy of the Green Office Buildings Market Report by @akinABRAHAM & ASSOCIATES Research.
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