529 Sqm Land With Structure -- Off Admiralty Way, Lekki Phase 1

529 SQM LAND WITH STRUCTURE -- OFF ADMIRALTY WAY, LEKKI PHASE 1
Prime Location C of O Title ₦900 Million ₦1,701,323 per SQM

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Property Overview

- Location: Off Admiralty Way, Lekki Phase 1, Lagos -- one of the most prestigious and sought-after addresses on the Lekki Peninsula, offering proximity to major roads, schools, shops, and amenities.
- Land Size: 529 SQM.
- Current Improvements: Structure on site (can be renovated, leased, or demolished for redevelopment).
- Title: Certificate of Occupancy (C of O) -- the highest form of title security in Nigeria.
- Asking Price: ₦900,000,000.
- Price per SQM: ₦1,701,323.
- Status: Land with existing structure -- immediate income potential or redevelopment opportunity.

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Key Highlights

- Prime Lekki Phase 1 Address: Off Admiralty Way places this property in the heart of Lekki Phase 1, surrounded by luxury homes, corporate offices, and high-end retail -- a location that commands premium value.
- Strongest Possible Title: C of O provides absolute ownership certainty -- bankable, transferable, and ready for financing.
- Existing Structure Adds Value: The structure on land offers immediate utility -- rental income during planning, caretaker accommodation, or potential renovation for quick occupancy.
- Flexible Options: Renovate and hold for income, or demolish and build a new flagship development.
- Quiet yet Connected: Being "off Admiralty Way" ensures tranquility and privacy while maintaining easy access to the main artery and all its conveniences.

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️ Development Potential

529 SQM in this location offers multiple pathways:

Option A: Renovate & Hold

- Upgrade existing structure for premium rental income while land appreciates.
- Ideal for investors seeking immediate cash flow.

Option B: Demolish & Rebuild

- Construct a luxury detached villa with pool and gardens.
- Build twin duplexes -- live in one, rent or sell the other.
- Develop a boutique apartment block (6--8 luxury flats).

Option C: Phased Approach

- Renovate and lease the existing structure while designing and securing approvals for a new build.

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Market Context

Metric Value
Land Size 529 SQM
Total Price ₦900,000,000
Price per SQM ₦1,701,323
Market Range (Lekki Ph1) ₦950,000--₦1.5M/SQM (bare land)
Structure Premium Reflects existing building value
Title Status C of O

- Per SQM Benchmark: At ₦1.701M/SQM, this price reflects both the prime location and the value of the existing structure. Bare land in this micro-location typically ranges from ₦1.1M--₦1.5M/SQM.
- Structure Value: The ₦350M--₦400M premium over bare land comparables represents the value of the existing building -- offering immediate utility and income potential.
- Title Premium: C of O provides maximum security and bankability -- a significant advantage.

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Ideal For: Investors seeking immediate rental income with long-term appreciation; developers wanting a prime Lekki Phase 1 plot with existing structure to offset holding costs; homebuyers looking to renovate and occupy in a prestigious location.

A versatile 529 SQM C of O property off Admiralty Way -- with existing structure offering immediate options.