Office Space for Rent in Ikoyi

Grade A office space in Ikoyi rents from $55 per square metre monthly — approximately $660 per square metre annually — according to Knight Frank and Ubosi Eleh market reports for 2026. Premium newly delivered buildings with superior infrastructure, reliable power and strong multinational tenant demand command $100–$400 per square metre annually. Corporate office space in Ikoyi is listed at $900 per sqm. The Pantheon Grade A building on Glover Road is offered at $750 per sqm per annum. Serviced commercial space in Ikoyi is available at ₦350,000 per sqm per annum. A 150 sqm office on Awolowo Road rents for ₦25 million per annum with a ₦3 million service charge.

Prime office occupancy in Ikoyi remains robust at 79 percent, according to Q1 2026 market data. This is slightly below Victoria Island at 83 percent and Ikeja at 82 percent, but reflects sustained corporate demand for Ikoyi's established prestige address. Several office towers in Victoria Island and Ikoyi maintained near-full occupancy despite economic disruptions over the past two years. The resilience is driven by multinational occupiers in consulting, professional services, aviation and energy sectors, whose long-term lease commitments and operational requirements make relocation costly.

Grade A offices in Ikoyi are purpose-built commercial towers with modern lifts, central air conditioning, reliable power (generator and/or IPP), ample parking, professional facilities management, and strong security. They command premium rents and sustain high occupancy. Grade B offices are older buildings, often converted from residential use, with less reliable infrastructure. Vacancy across Grade B office stock in Lagos is estimated at 36 percent, reflecting prolonged oversupply. Many Grade B landlords are converting underperforming spaces into residential, retail and hospitality uses to improve returns.

Yes. We have serviced office spaces in Ikoyi ranging from 23 sqm to 1,140 sqm. Serviced commercial space in Ikoyi is available from ₦350,000 per sqm per annum with service charges of ₦160,000 per month (payable annually). Coworking desks are available from ₦155,900 per desk per month at Mulliner Towers on Alfred Rewane Road, and from ₦210,500 per desk per month at other Ikoyi business centres. Executive suites and private offices are also available with 24/7 power, high-speed internet, professional reception, cleaning and security.

Glover Road anchors the Grade A office corridor with The Pantheon — a 13-floor, 23,000 sqm building with event centre, skyview lift, 4-level podium parking, outdoor terrace, cafe and art gallery. Awolowo Road is Ikoyi's commercial high street with offices from ₦25 million per annum for 150 sqm. Alfred Rewane Road hosts Mulliner Towers and other premium business addresses. Banana Island offers waterfront office space from ₦300,000–₦350,000 per sqm. Bourdillon Road and Kingsway Road also have Grade A stock.

Yes. We offer flexible office solutions including serviced offices with rolling monthly terms, coworking desks from ₦155,900 per desk per month, executive suites and turnkey private offices. For standard leases, fit-out periods are negotiable. Long lease terms of 5–10 years are common for Grade A towers in Ikoyi, with some landlords offering concessionary terms for anchor tenants. Ikoyi's prestige address and proximity to Victoria Island make it a preferred choice for blue-chip companies, banks, law firms and multinationals.

Service charges vary by building and facilities. Serviced commercial space in Ikoyi carries a service charge of ₦160,000 per month (payable annually). A 150 sqm office on Awolowo Road carries a ₦3 million per annum service charge. Corporate offices typically carry service charges of 10–15% of annual rent. Utilities and energy are often estimated separately. Always confirm what the service charge covers — diesel, power, cleaning and security are common inclusions.