An illustration of the proposed Living Spring Business City (LSB) project
With the economy showing slight improvement, a new player has announced plans to venture into a mixed development christened Living Spring Business City (LSB) project.
The project comes with a mix of international market and residential estates, combines different type of models all functioning on a major national transit route centrally located in popular Ibadan-Ife-Abuja highway, Osun State and close to Oduduwa University.
Scheduled to open within the next 12months, the project occupies 38-hectares of land, comprising 1,128 suites, shops and 228 apartments. The planned delivery date for phase I is 2018 while Phase II is slated for 2019. Expectedly, the project will serve as a strategic investment opportunity for investors and business owners and boasts of; one commercial Banks, three Health Centre, five Eateries/restaurants, seven sporting facilities, two events centre, six police station, 24hours electricity, four educational centre, eight community halls, transit trailer parks for goods, corporate inter-state transport water facilities, nine large parking areas, filling stations, green areas as well as childcare centre.
The developers believed that there is the need to bring market closer to the people in western region and beyond with the ideal big time traders in Alaba international market, Orile and other places who hoped to be opportuned to have their branch situated at the market.
Project Manager of LSBC; Mr. Richard Bamiduro in an interview with The Guardian explained that the total land area which is provided by the Osun State Property Development Corporation is about 38-hectares noting that it also come with a Certificate of Occupancy (C-of-O) and a letter of allocation.“We intend to commence the project this January before as at last year when we were planning, our plan was to build the 25per cent of the total market store at Phase 1 and as the demand increases, we hope to keep expanding. We have already mapped out our prices, which would be very affordable compared to any market in the country, and so our rent would be superb. We would let out the information on that later”.
Accordingly, he stated that the project is still at the planning stage, but expressed hope that it will commence within the first quarter of 2018 starting with the 25per cent of the total built area. He said although, a contractor has not been picked for the project, but there are teams of engineers and architects rightly on ground that is strategizing for the project.
The entire cost of the project is about N4billion.We are seeking for investors, talking to private investors and some bank”, he posited.According to Bamiduro there are plans to partner with government and by so doing, more developments and public infrastructure will be provided in communities and areas in and around the business city while the centre provide investors with great returns on their investment.
