BabsGbollys Properties, a boutique real estate agency has announced the launch of its Commercial Advisory Services. The new division, offers comprehensive commercial services, specializing in investment sales, landlord and tenant leasing representation and strategic asset positioning.
The Commercial Advisory Services will be handled by BabsGbollys Properties team of realtors known for being skilled negotiator with a reputation for creating successful outcomes for investors and tenants alike with years of commercial investment, development and brokerage experience.
Speaking on this new service offering, Babalola Odunuga, MD/CEO of BabsGbollys Properties Ltd. Said, “As BabsGbollys Properties continue to experience rapid growth, commercial development and real estate ranks high for investors and we are keen about playing pivotal role in helping them secure the right land and properties. The Commercial Advisory Service will help strengthen businesses and allow the team to be the provider for our clients and their commercial projects. The team will handle leasing, tenant representation and investment sales for office, industrial, retail, medical, special purpose, flex, and multi-family spaces.”
On challenges facing the industry, Odunuga said: “If government can speed up the process of signing gazette application, it will give investors more confidence to buy and invest their money in real estate. This will also help in quick development in the rural community. The essence of a Gazette cannot be overemphasized as this very powerful document authenticates what the community owns. When the Gazette is readily available, a community can only sell lands to people within those lands that have been excised to them and the community or family head of that land has the right to sign valid documents for such purchases. This way you can easily get a surveyor to chart the site and take it to the surveyor general’s office to confirm whether it falls within the gazette and spell out which particular location it can be found. It is advisable not to assume that the land is not covered by a gazette and purchase it without seeking professional help so as not to fall prey to people who might sell you land that is not excised to them.
“Lack of basic infrastructure is part of challenges in real estate, like good layout and other basic ammenities. This needs to be in place for such community to attract investors. Land grabber, is another challenge in the industry government needs to create new laws to force them out of the area. Government also needs to enforce the law on land grabbers and also engage the community leaders, like the obas, bales and local government executive to identify such perpetrators.
They need to have regular stakeholder’s meetings where they engage, inform and spell out the repercussions of encroaching on government land, but it will be more advisable to enlighten the public more on areas that belongs to government. This is necessary because majority of the new estates in free trade zone area are actually government land which investors bought from land grabbers.”