Rare 24000sqm Large Corner Development Opportunity

FOR LEASE
Prime Corner Commercial Land for Lease ---
24,000 sqm
on Ozumba Mbadiwe Road, Victoria Island, Lagos
Rent: $650,000 p.a. (~₦1.0B)

Summary
A rare, large‑scale corner development opportunity on Ozumba Mbadiwe Road --- 24,000 square metres of contiguous land with premium island frontage and exceptional visibility. Offered for lease at USD 650,000 per annum (approx. ₦1,000,000,000). Ideal for flagship commercial developments: hotel, retail mall, mixed‑use precinct, office campus, branded residential or institutional campus.

Key financials

- Annual rent: USD 650,000 (Six Hundred and Fifty Thousand US Dollars) --- equivalent to approximately ₦1,000,000,000 (currency conversion indicative).
- Other commencement charges (as stated): Agreement fee 10% and Agency fee 10% (calculated on annual rent unless otherwise agreed).
- Example (indicative): Annual rent ₦1,000,000,000 Agreement fee 10% = ₦100,000,000; Agency fee 10% = ₦100,000,000.
- Typical initial outlay at commencement (first year + stated fees) ≈ ₦1,200,000,000 (excludes any security deposit, VAT, legal costs or negotiated fit‑out contributions).
- Lease term: Flexible/negotiable (long‑term institutional leases recommended for major commercial projects). Rent escalation, deposit and other commercial terms to be agreed.

Location & access

- Address: Ozumba Mbadiwe Road, Victoria Island --- prime commercial corridor in Lagos Island's core business and leisure district.
- Corner position provides dual frontage, enhanced visibility and multiple access points for vehicles and pedestrians.
- Immediate proximity to major corporate offices, financial institutions, hotels, high‑end retail and entertainment destinations --- strong captive demand and footfall.
- Excellent transport links to Victoria Island, Lekki, Victoria Embankment and major arterial roads.

Site & opportunity highlights

- Size: 24,000 sqm --- an unusually large contiguous parcel in Victoria Island allowing for landmark, multi‑phase or mixed‑use development.
- Corner frontage: Enables multi‑entry design, superior frontage for retail or hospitality branding and improved circulation for vehicles.
- Flexible development potential: Suitable for large hotel & leisure complex, regional shopping mall, Grade A office campus, mixed‑use development (retail/office/residential), institutional campus or flagship branded project.
- Branding & visibility: Ozumba Mbadiwe Road is a premium address; building on this site will enjoy high corporate/consumer visibility and strong signage opportunities.
- Parking & access planning: Size allows for on‑site parking solutions (basement or podium), service yards, valet/drop‑off zones and landscaped amenity spaces.

Commercial advantages

- Scarcity: Very few parcels of this scale exist on Victoria Island --- scarcity supports premium rental and brand positioning.
- Tenant pool: Proximity to corporate headquarters, embassies, hospitality operators and high‑income residential neighborhoods supports diverse end‑user demand.
- Bankability: Large prime site on Ozumba Mbadiwe is attractive to institutional operators and lenders; long‑term lease structures can be bank‑financeable.

Practical considerations & recommended terms to negotiate

- Lease length: 10--25 years typical for flagship commercial projects; consider longer lease or ground lease to support financing.
- Rent review: Agreed escalation schedule (CPI or fixed step) to be included in lease.
- Fit‑out & capex: Tenant/lessee typically responsible for development/fit‑out; landlord contribution or rent‑free period negotiable for significant capex.
- Permits/approvals: Confirm allowable FAR, setbacks, signage restrictions and parking requirements with Lagos State planning authorities prior to final design.
- Security deposit & guarantees: Standard practice to require security deposit/bank guarantee and proof of capability.

Title & documentation

- Title: Governor's Consent / land title information available for verification (full title pack and survey plan available to qualified parties upon request).
- Documentation to be provided to shortlisted parties: title pack, survey plan, site photographs, any available planning correspondence and utility status.

Due diligence checklist (recommended)

- Legal: Title search and verification, confirm absence of encumbrances or liens.
- Planning: Confirm zoning, permitted FAR, setbacks, building height limits and required approvals.
- Technical: Topographical and geotechnical survey, flood risk assessment and utilities availability (power, water, sewer, telecom).
- Environmental & traffic: Basic environmental screening and traffic impact assessment for high‑intensity uses.
- Commercial: Market feasibility and tenant demand assessment for the proposed scheme.

Next steps & viewing

- Serious, qualified parties should submit an expression of interest with proof of funds/credit capacity to arrange site inspection and receive the data pack. Full commercial heads of terms and an NDA will be issued to shortlisted parties prior to release of detailed documentation.

Notes & disclaimers

- All figures and currency conversions are indicative and provided for guidance. Final commercial terms, fees and title status to be confirmed during negotiation and due diligence. VAT and any applicable statutory charges are extra.
- This listing is intended for serious investors and operators seeking a landmark commercial site on Victoria Island.

Contact: Mr. Kola Adesina (EDBA)
All detailed documentation and commercial discussions will be provided on a confidential basis and subject to a signed NDA.
Serious proposals only.
How we work*
Tell us your needs (budget, location, size).
Our team reviews your request and assigns a dedicated relationship manager.
We only source conflict-free land and properties with clear titles.
We conduct due diligence and arrange site visits.
Viewings are by appointments only
Finalize purchase, rental or lease with legal support.
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