For sale
prime waterfront corner parcel admiralty way, lekki phase 1
quick overview
- asset: bareland, corner parcel with waterfront frontage (lagos lagoon)
- size: 4,000 sqm
- location: admiralty way, lekki phase 1 --- highly sought-after, premium residential/commercial corridor
- title: state certificate of occupancy (c of o) --- ready for transfer (documents to be provided)
- condition: fenced site, immediate development availability
- asking price: ₦8,000,000,000 (eight billion naira) --- asking price works out to ₦2,000,000 per sqm
- sale type: freehold sale; serious buyers only --- viewings by appointment
property summary
rare waterfront corner plot on admiralty way, lekki phase 1 --- an exceptional acquisition for developers or investors seeking a trophy landholding in one of lagos' most prestigious addresses. this fully fenced 4,000 sqm parcel commands direct lagoon exposure and strong road frontage, offering unrivalled opportunities for a bespoke residential estate, boutique apartments, mixed‑use signature development or a luxury hospitality concept. with an immediate development pathway and c of o in place, this site represents a fast-to-market strategic landbank with significant capital upside.
key selling points
- prime frontage: corner plot with landmark visibility and direct lagoon/waterfront access --- high premium for exclusive product.
- location advantage: admiralty way, lekki phase 1 --- strong demand from hnwis, expatriates and premium renters; excellent connectivity to victoria island and lekki business districts.
- development-ready: fenced and secure site; c of o accelerates transaction and title transfer.
- flexible product potential: supports low-density luxury villas, boutique mid-rise apartments, a mixed-use podium/tower, or a signature hotel/serviced-apartment scheme.
- scarcity value: limited availability of comparable waterfront parcels within lekki phase 1 --- strong long-term capital appreciation.
development concepts (illustrative --- subject to planning approvals)
option a --- ultra‑luxury villa estate (low density, high exclusivity)
- concept: 6--8 detached luxury waterfront villas (500--650 sqm plot coverage each) with private moorings, landscaped gardens and private pools.
- appeal: trophy homes for ultra‑high‑net‑worth buyers or embassy/private family ownership.
- commercial rationale: highest per‑unit price; strong exclusivity premium.
option b --- boutique mid‑rise apartments (best balance of gdv & marketability)
- concept: 4--6 storey boutique blocks arranged to maximise waterfront views; central landscaped amenity spine and private jetty.
- indicative gfa range: conservatively 1.5--3.0x site area (6,000--12,000 sqm) depending on far/consent.
- unit mix (example): 1‑bed (10--15), 2‑bed (20--30), 3‑bed (8--12), 4‑bed penthouses/duplexes (4--6). estimated unit count ~40--70.
- amenities: lagoonfront pool, gym, residents' lounge, concierge, basement parking.
option c --- high‑end mixed‑use signature scheme (maximise gdv)
- concept: podium retail / f&b along admiralty way with 8--12 storey residential tower(s) above featuring sky penthouses and premium facilities.
- appeal: generates both retail income and high-density residential gdv where planning allows (subject to height/far permissions).
- amenities: boutique retail, rooftop terraces, spa, private marina/jetty.
indicative value scenarios (illustrative only --- local market appraisal required)
- asking price per sqm = ₦2,000,000 (asking basis).
- development gdv examples (illustrative):
- boutique apartment scheme (net saleable 8,000 sqm) × indicative sales rate (market dependent) = gdv range --- to be modelled by qs/market valuer.
- note: final gdv depends on approved gfa, product specification, timing and market conditions. we strongly recommend a detailed feasibility (architect + qs + market survey) before offer.
planning, technical & statutory considerations
- confirm permissible far, maximum height and coastal setbacks with lagos state and the local planning authority (coastal/lagoon setbacks may apply).
- shoreline/coastal engineering: shoreline protection, erosion mitigation and jetty/berthing consent may be required; engage coastal engineers early.
- flood risk & drainage: lagoonfront sites require flood risk assessment and resilient design (raised podiums, stormwater management).
- utilities: confirm external power, water and sewer connections and any reinforcement requirements.
- parking: market expectation for premium residential --- 1.5--2.0 spaces/unit; basement or podium parking should be considered in cost plan.
- environmental: eia or environmental assessment may be required depending on scope and regulatory triggers.
market positioning & target buyers
- primary targets: high‑net‑worth local buyers, developer jv partners, boutique hotel operators, private family offices and regional/international investors.
- sales strategy: phased release, pre-sales of show units/penthouses, targeted hnw investor marketing, private viewings, and high-end pr/press placements.
transaction structures & commercial considerations
- preferred structures: outright purchase, land-for-equity jv, phased parcel sales or forward sale to a developer.
- negotiable terms: conditional deposits, staged payments, exclusivity periods and due diligence windows for serious offers.
- security for buyer: request full plot dossier (c of o, survey plan, fence/pegging evidence) and consider escrow/trust account arrangements on deposit.
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.
*please feel free to browse our other featured properties*
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