Premium 3394sqm Of Development On Serious Offer

Listing Title:
Prime 3,394 sqm Land at Adeola Odeku, Victoria Island ---
Title: Federal Allocation Letter
Asking: ₦7,500,000,000

Overview:
Rare direct‑brief opportunity to acquire a strategic 3,394 sqm land parcel on Adeola Odeku, Victoria Island --- a core commercial and premium mixed‑use corridor in Lagos. The site is offered with an allocation letter issued by the Federal Government. Positioned in one of the city's highest‑value nodes, this parcel is highly suitable for flagship commercial, hospitality, office or mixed‑use developments and represents a trophy acquisition for developers, institutional investors and corporate occupiers.

Key Details

- Property type: Vacant land (prime commercial/mixed‑use)
- Size: 3,394 sqm
- Location: Adeola Odeku, Victoria Island, Lagos
- Title/Status: Allocation letter from the Federal Government (documents available)
- Asking price: ₦7,500,000,000 (Seven Billion Five Hundred Million Naira)
- Sale instruction: Direct brief / direct instruction from seller
- Indicative price per sqm: approx. ₦2,209,000 (for reference)

Location & Strategic Advantages

- Situated on Adeola Odeku --- central Victoria Island arterial serving premium corporate, retail and leisure activities
- Immediate proximity to major banks, corporate headquarters, upscale retail, hotels, restaurants and nightlife --- strong demand drivers for commercial rents
- Excellent connectivity to Victoria Island, Ikoyi and Lekki via major roads and bridges
- High footfall and visibility --- strong frontage potential for commercial branding and signage
- Scarcity of sizeable contiguous parcels in this corridor enhances long‑term capital appreciation and development value

Recommended Development Uses

- Office tower or corporate headquarters
- Mixed‑use development: retail podium + serviced apartments/offices
- Upscale hotel or hospitality complex
- High‑yield commercial plaza, flagship retail or showroom
- Value‑add redevelopment or joint‑venture (JV) opportunities with institutional developers
(Subject to planning approvals and regulatory permits)

Title, Documentation & Legal Considerations

- Current documentation: Federal Government allocation letter --- available for inspection to serious/verified buyers
- Allocation letter typically requires conversion/regularization (process to obtain final C of O / statutory consent may be necessary depending on status) --- buyers should engage legal counsel early
- Seller will provide allocation documentation, site plan and related paperwork on proof of seriousness
- Buyers advised to perform full legal/title due diligence and confirm status of allocation, conditions and any outstanding obligations with relevant federal land authorities

Due Diligence & Technical Recommendations
Prospective buyers should conduct the following prior to commitment:

- Verification of allocation letter authenticity and chain of instruction with the issuing federal authority
- Confirmation of process and timelines for issuance of C of O or final title conversion (if required)
- Boundary verification and survey confirmation on site
- Zoning/land‑use and planning checks with Lagos State and federal planning agencies
- Environmental, geotechnical and flood‑risk assessments as applicable
- Infrastructure and utility availability checks (access, power, drainage, waste management)

Investment Highlights

- Trophy asset in the heart of Victoria Island with limited comparable inventory
- Strong rental and capital appreciation profile driven by corporate and retail demand
- Flexible development options for commercial, hospitality or mixed‑use schemes
- Direct brief availability enables potentially faster negotiation and transaction process for serious buyers

Price, Terms & Fees

- Asking price: ₦7,500,000,000 (negotiable based on terms and proof of funds)
- Buyer to bear customary acquisition costs (legal fees, stamp duty, professional fees, conversion/registration fees and any government levies) unless otherwise agreed
- Payment structure and timelines negotiable --- contact to discuss preferred terms

Viewing & Next Steps

- Site inspections and document review by appointment for serious and qualified buyers only
- Allocation letter, site plan and related documents available on request after verification of buyer credentials
- Photo gallery and video/site visit can be arranged for remote investors
- Recommended next steps: request documents, arrange on‑site inspection, instruct legal/title search and liaise with relevant authorities re: allocation conversion

Ref: Daka