Why Billionaire Ernest Azudialu’s 15 Floors Big Money Nestoil Tower Remains Vacant Years After

Years after completion and placement on the market for interested tenants, societynow.ng confirms the fifteen floors big money Nestoil Towers in Victoria Island Lagos remains vacant.

The massive building with state of the art facilities owned by billionaire Ernest Azudialu is vacant but for the top three floors, the billionaire uses for his private business.

Societynow.ng gathered prospective tenants have always turned away from the highly attractive building located on Akin Adesola street because of the “rent”.

Azudialu has pegged the rent in foreign currency societynow.ng learned.

“He wants 800 dollars per square meter as rent” a source disclosed.

Nestoil Towers sits on a land size of 3900 sqm with 10,000 sqm leasable commercial space on 15 floors.

Societynow.ng learned efforts to get Billionaire Azudialu to reduce rent fee to attract patronage has met a brick wall.

“Azudialu has also refused to let out the office spaces in naira. He insists on the 800 dollars per square meter” societynow.ng learned.

“The Nestoil founder is adamant that 800 dollars per square meter is a good deal and he is willing to wait till he finds tenants who appreciate the facilities and are willing to pay for it” a source disclosed to societynow.ng.

Checks by societynow.ng revealed the fifteen floor tower boasts of Dedicated transformer with generators, Raised access flooring, Helideck, High performing Façade (Thermal and acoustic), Automated Access Control, Disabled facilities, State of the art Gym, Covered executive terrace with a view, Parking space for over 150 cars, water treatment plant and a high level security.