Medical Space for Rent in Lagos, Nigeria

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In the world of healthcare, space is a very important element. Whether it’s a hospital or a clinic, having the right space is crucial to ensuring that medical services run smoothly. Finding the right space can be quite challenging, and most medical facilities end up leasing commercial properties, industrial buildings or repurposing old warehouses and factories. Apart from this, some businesses also choose to rent temporary office space while they look for more permanent options. If you are considering renting medical space in Lagos instead of buying one outright, this article will prove very useful. Here you will find everything you need to know about renting medical space in Lagos as well as advice on which are the best locations for your business and how much it will cost you every month.

Why Should You Rent a Medical Space?

Before we look at finding the right space for your business, it’s important to understand why you should rent a medical space and not buy one. There are many reasons why you might prefer to rent rather than buy. Some of the most common include: - Higher cash flow - When you rent a space, you are only required to pay for what you use. So if you don’t have enough cash to buy a building, you can always rent it - and have more cash flow. - Flexibility - When you own a building, you are stuck with your decision. You can’t expand or downsize your office quickly or easily. But when you rent, you are free to change things as needed. - Lower upfront costs - When you use a lease-to-own agreement, you can get the building now and pay for it over a few years. This spares you from having to come up with a huge amount of cash up front. - Tax benefits - If you are renting a building, you can take advantage of tax breaks created for landlords. - No maintenance worries - Even if you buy a building that is in good condition, you will need to take care of it and spend money on repairs and maintenance. If you rent, you can outsource this work and let your landlord deal with it. And you don’t have to worry about repairs. - A more fluid business - If you own the building, you are stuck with your location. But if you rent, you can change locations if you need to or if your business grows or shrinks.

Finding the Right Space for Your Business

When you are looking for a space to rent, you will obviously want to find the perfect fit for your business. There are a few things you should consider when you are doing this. They include: - Location - The location of the space will play a big role in determining how much you will pay. Obviously, it is better to find a space that is close to your target market. - Size - You will have to find the right size for your business. If you have too much space, you won’t be able to use it effectively. On the other hand, you don’t want to be cramped. - Condition - You don’t want to rent a space that is falling apart or is in poor condition. - Utilities - Before you sign a lease, you need to find out what utilities are included in the rent. You also need to know what is needed to connect to them. - Parking - The parking space is essential for any medical office. - Security - You want to make sure that the space is secure and that you feel safe there. - Building condition - You want to make sure that the building is in reasonable condition.

The Best Locations for Your Medical Space in Lagos

There are many locations where you can find great medical spaces for rent. Some of the best areas for a medical business include: - Lekki - Lekki is one of the most desirable places to live and work in Lagos. It is also home to many international businesses. - Victoria Island - Victoria Island and Lagos Island are two of the most popular areas in Lagos. - Eko Bridge - This is an up-and-coming business district that is quickly becoming a popular place to rent a medical space. - Oshodi - Oshodi is one of the most popular trading hubs in Lagos. So it is a great place to rent a medical space if you are an importer. - Ikorodu - Ikorodu is a growing business district in Lagos. - Ikeja - Ikeja is a popular residential and business area in Lagos.

How Much Does it Cost to Rent a Medical Space in Lagos?

The price of renting a medical space in Lagos will depend on a number of factors, including the size and condition of the property, the location of the space and how much utilities will cost you. As a rule, a good-quality space will cost you about $10,000 a year. If you want to buy a building, then expect to pay about $1.25 million for a 100-square-meter building. And if you want to buy a plot of land, you can expect to pay about $100,000. All in all, you can expect to pay around $125,000 to buy a plot and build a 100-square-meter building.

Conclusion

Renting medical space in Lagos is a great idea if you aren’t ready to buy a building, need a short-term solution or want to minimize risk. However, if you decide to rent, make sure you are aware of all the costs involved. This includes not only the monthly rental payment but also any utility costs, any taxes and any maintenance or repair costs. You don’t want any of these to come as a surprise.