Concessionaire of TBS Lagos, BHS group plans facility upgrade with N300bn soon
Following the recent settlement of the issues that frustrated the concessioning of some federal facilities in Lagos during the former President Olusegun Obasanjo administration including the twin-Federal Secretariat, Tafawa Balewa Square (TBS) and others, owners of the later are set to redevelop the tourism site.
The settlement stemmed from the recent court’s resolution of all grey areas that had existed over it between her group with the Lagos State Government (LASG) and the Federal Government respectively.
In an interview, the concessionaire, BHS Group said it is working on a template to invest about N300billion between 2019 and 2029 to redevelop the complex into a mega world class tourism and business destination.
The Head of Corporate Affairs department at BHS, Mrs. Josephine Abraham said “The group has earmarked 10 years for the redevelopment of the historical site because of the proposed huge transformation that will take place.
“We have carefully mapped out a timetable for the renovation which we will strictly adhere to,” she said.
Mrs. Abraham revealed that the edifice will be redeveloped into ranges of world class facilities including convention centres, conference halls, five-star hotels, shopping malls, underground car park space, creativity blocks, 200 luxury apartments, offices and business parks.
According to her, “We have huge surprises for the tourism industry that will be unveiled when we must have expanded the current 375 shops and offices complex.
“It will be providing modern shopping complex that can compete favourably with their international standards.
Additional details show that parts of the preliminary reconstruction works include a comprehensive perimeter with a new topographic survey plan of the complex.
Already, the investor has done a detailed site study to determine which of the existing structures and buildings should be retained and those to be demolished.
BHS had emerged the preferred bidder in 2008 after a competitive bid process and won a 30-year concession to redevelop, manage and transform the TBS into a one-stop tourist centre, but issues raised form the reviewed Victoria Island Model City Plan countered the initial plan of the concessionaire, thus hanging the plans of the investor till the matter was resolved with the state authorities.
There are indications that the concessionaire of the twin-Federal Secretariat, Obalende, BigShoe Group, is yet to resolve their own issues that stemmed from the Ikoyi/Obalende Model City Plan.
