Beach Hotel Development: Project Description
The objective of this study was to prepare the highest and best use analysis for the identified properties to determine their viability and optimal use. AG Leventis Nigeria Plc desired that their land at Alpha Beach Road be analyzed for optimal returns. We concluded that he construction of a Beach Hotel will be the optimal use of the land.
Our Value Add
Brickstone identified potential land uses for the subject property based on legally allowable uses, physically possible uses, market conditions, and our judgment regarding the property’s competitive position. We evaluated market conditions for each identified potential use, including such indicators as rent rates, vacancy, and absorption.
Based on the market research, we reached conclusions about uses that have the best market potential — i.e., uses for which the supply/demand outlook favors development, and with the best chances for absorption.