2,394 Sqm With Existing Structure Lekki Phase 1 Proper

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 potential.