Don't Miss

New Sandgrouse Market in Lagos to cost N1.5bn

By on September 24, 2012

Lagos State Government has concluded plans to rebuild the popular Sangrouse market in Lagos Central Business District into an ultra-modern facility, using a Public-Private-Partnership arrangement, writes Bennett Oghifo

The Sandgrouse market is hemmed between Simpson and Louis Streets and could be approached from the Third Mainland Bridge through the Sura Shopping complex-Mandillas Building area.

The market is to be upgraded into a mix-use ultra-modern affair, using N1.5 billion private sector funds in a 25-year public, public partnership Lagos signed with D.H.B Construction Limited.

The market is one of the first markets in Lagos central business district that serves high-profile patrons from Ikoyi, Victoria Island, Dolphin and its environs.

Chief Executive Officer of D.H.B Construction Limited, Chief Alabo Bakare, said this was the reason the project was very important to the economy of Lagos.

“We are embarking on the development of the ultra-modern Sandgrouse Market to key into the desire of Governor Babatunde Fashola, who wants to make Lagos a model city and the mega city that it is presently. To have such an edifice will complement the effort of the state government.”

The present makeshift market would be developed into an ultra-modern market and would be the first of its kind in the State, said Bakare, at the weekend.
The development arrangement, he said, was among D.H.B Construction, Lagos Island Local Government and the Lagos State Government, which has a build-operate and transfer arrangement for a period of 25 years after which the project will revert to the government.

He explained the role of the local council in the PPP arrangement, saying all the markets in the state were administered by the local government. “Sandgrouse Market is situated in the Lagos Island Local Government and that is why the local government is the one signing it off on behalf of the state government.”

Bakare urged the existing tenants in the market not to be afraid of being displaced. “Like what we have done in our previous assignment at Gbaja Mall is that they will be right of first choice and we are not displacing anybody. We shall make adequate arrangement to have a place to put them temporarily until we finish the construction.”

He said the market would be developed in phases and would be completed in 18 months. “When we finish the phase, which the present occupants belong to, we shall restore them to their positions. We will try as much as possible to make mortgage available for them as well to ease their purchasing power.”

He said the spaces in the new market were on sale at N500, 000 per square metres and that they have 5sqm, 10.5sqm and other sizes in addition to open spaces for outright purchase for 25 years and renewable.

People asked them if traders in petty items like pepper, meat, among others, could purchase stalls in the new market and that his reply is “we have done it before and we will do it again. We sourced for mortgage for them, which allayed their fears that they would be excluded from the project. They are going to benefit as well.”

The new Sandgrouse Market, Bakare said, would be very secured, explaining that a Police Station would be built there as part of his company’s corporate social responsibility. “The government has done so well by awarding contract for the reconstruction of the road from the end of Hally to that of Gbagbose and this will complement our construction effort and the government will embark on the clearing and reconstructing of the canal. It is good that the government is carrying out its responsibilities and we, ours likewise.”

The said the new Sandgrouse Market would be segmented and that the meat and pepper sellers would be given their spaces.

“We are going to have shops; offices for Lawyers, because of the proximity of the market to the High Court; banking hall; cinema hall; food court, which will take all kinds of food vendors; lots of spaces to let and huge parking to serve both users of the market and residents in the neighbourhood respectively. It is a total package that is the hallmark of a good market.

The market is designed to have four floors and the car park would take a greater part of the ground floor, the cold room would be on the ground floor also as well as the food court, he said. “We have made provision for hawkers’ stands, because we don’t want people to hawk on the road. It is a one-stop shop for people to come into and buy what they need without wandering in the streets of Lagos.”

The market would be built on a total land area of 14,236.974 square metres and the area that would be built is 5,8224sqms.

The complex, according to him, is designed to have ramps to enable those who are unable, to have access to all parts of the market.

There are staircases, lifts for goods and for patrons and ramp for the less able. There would be a fire station, private electricity to complement public power supply. “We will take advantage of the Independent Power Project on Marina to serve the market since it is located within its vicinity.”

All facilities in the market would be controlled and maintained from a service building by D.H.B Construction 24/7.

Governor Fashola, he said would perform the groundbreaking ceremony in December and that thereafter construction would begin.

“It will take a maximum of 18 months to complete the market.”

The construction work, he said would not disturb traffic in the neighbourhood as construction would be restricted within the perimeter fence. “The market will add value to that environment.

He said forms are sold at N5, 000 and that they are available at Wema Bank at Lapa House and at its Head Office. Forms are also available at Skye Bank at City Hall as well as at the Lagos Island Secretariat or at DHB’s corporate office at Gbaja, Surulere. It can also be downloaded at www.sandgrousemarket.com.

 

 

 

Source: This Day