Mixed-use land for sale
Lekki Phase 1 Proper, Lagos, Lekki Phase 1, Lekki, Lagos
For sale -- lekki phase 1 proper
2,394 sqm mixed-use development land with existing structure
governor's consent title ₦4 billion ₦1.67 million per sqm
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property overview
- reference: l - p/26 - 20
- location: lekki phase 1 proper, lagos -- the most established and prestigious residential and commercial address on the lekki peninsula.
- land size: 2,394 sqm.
- current improvements: structure on site (can be renovated, leased, or demolished for redevelopment).
- title: governor's consent -- perfected, bankable, and ready for transfer.
- purpose: mixed-use (residential/commercial development potential).
- asking price: ₦4,000,000,000.
- price per sqm: ₦1,670,000 (approx.).
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key highlights
- lekki phase 1 proper: not phase 1 extension -- this is core lekki phase 1, commanding premium value, instant recognition, and proximity to the peninsula's best amenities.
- superior title security: governor's consent provides absolute ownership certainty -- bankable, transferable, and ready for financing.
- substantial scale: at nearly 2,400 sqm, this is one of the largest available development parcels in built-up lekki phase 1 -- a rare institutional-grade asset.
- mixed-use zoning: flexibility for residential, commercial, or combined development -- maximizing roi potential.
- existing structure adds value: the structure on land offers immediate utility (rental income, caretaker accommodation) while planning redevelopment.
- prime demographics: surrounded by high-net-worth residents, corporate offices, and luxury amenities -- ensuring strong demand for any development.
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️ development potential
2,394 sqm in lekki phase 1 proper offers exceptional flexibility:
residential options:
- luxury apartment block: 25--35 high-end flats across 5--6 floors.
- terrace duplex cluster: 10--12 luxury terrace units.
- gated mini-estate: 6--8 detached or semi-detached villas.
commercial/mixed-use options:
- boutique hotel: 40--50 rooms with amenities.
- mixed-use complex: ground-floor retail/offices + residential above.
- corporate headquarters: flagship office building for a multinational or financial institution.
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market context
metric value
land size 2,394 sqm
total price ₦4,000,000,000
per sqm price ₦1,670,000
market range (lekki ph1) ₦1.5m--₦2.2m/sqm
title status governor's consent
- per sqm benchmark: at ₦1.67m/sqm, this is competitively positioned within lekki phase 1's current land market (₦1.5m--₦2.2m/sqm depending on exact street and plot characteristics).
- scarcity factor: parcels exceeding 2,000 sqm with governor's consent in lekki phase 1 proper are increasingly rare -- most have been developed or subdivided.
- structure value: the existing building provides immediate rental income potential during the approval and planning phase for redevelopment.
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investment angles
- for the developer: acquire, demolish, and build a flagship mixed-use project in prime lekki phase 1.
- for the investor: hold, collect rental income from existing structure, and sell later with planning approval uplift.
- for the owner-occupier: renovate and occupy while developing portions of the land, or build a dream home with commercial component.
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ideal for: developers seeking a sizable, titled parcel for a landmark mixed-use project; investors wanting a bankable asset with immediate income and long-term appreciation; corporate entities seeking a flagship lekki phase 1 address.
a rare 2,394 sqm governor's consent parcel in lekki phase 1 proper -- with existing structure and mixed-use potenti...
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₦4,000,000,000
Ac Valour International
08036503218