1,073 Sqm With Existing Structures Langbasa, Ajah, Lekki, Lagos

Land with Existing Structures for Sale in Langbasa, Ajah, Lekki
1,073 SQM With Existing Buildings ₦300 Million Asking Price ≈ ₦279,589 per SQM

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Property Overview

- Location: Langbasa, Ajah, Lekki, Lagos
- Land Size: 1,073 SQM
- Condition: Plot with existing structures
- Asking Price: ₦300,000,000
- Price per SQM: ≈ ₦279,589
- Status: Occupied/Vacant with buildings; suitable for renovation, redevelopment, or immediate use.

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Key Highlights

- Development-Ready with Options: The existing structures provide immediate utility or rental potential while allowing for future redevelopment. This offers flexibility---you can generate income now or plan a future project.
- Strategic Ajah Corridor Location: Langbasa is in the fast-growing Ajah axis, benefiting from ongoing infrastructure improvements and population expansion along the Lekki-Epe Expressway.
- Competitive Entry Price: At under ₦280k per SQM, this price point is notably accessible for a plot of this size in the greater Lekki area, representing a different value proposition than core Lekki Phase 1.
- Substantial Land Area: Over 1,000 SQM provides ample space for a significant residential compound, a multi-unit development, or commercial use.

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️ Development & Usage Potential

- Immediate Use: Occupy or rent out the existing structures.
- Renovation & Expansion: Upgrade and modernize the current buildings.
- Complete Redevelopment: Demolish and build a new residential estate, apartment complex, or commercial property.
- Phased Development: Utilize part of the land now and develop the rest later.

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Location & Market Context

Langbasa, Ajah is a developing residential and commercial hub. Key points include:

- Growth Area: It is part of the Lekki-Ajah corridor, which continues to see significant real estate development and value appreciation.
- Connectivity: Offers direct access to the Lekki-Epe Expressway, providing links to Lekki Phase 1, Victoria Island, and the new Dangote Refinery/Deep Sea Port axis.
- Market Comparison: This asking price is positioned in a more affordable segment than prime Lekki or Ikoyi. For reference, bare land in similar growth corridors can range from ₦150k to ₦500k+ per SQM, heavily dependent on exact location, title, and infrastructure.

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️ Critical Verification & Next Steps

Important: The presence of existing structures makes due diligence even more crucial.

1. Title Verification: The first step is to confirm the land title (e.g., C of O, Governor's Consent, Excision) at the Lagos State Lands Bureau.
2. Structural Assessment: Essential. Hire a qualified building engineer or architect to inspect the condition of the existing structures. Determine if they are safe, habitable, or need demolition. This assessment will significantly impact your cost planning.
3. Occupancy Check: Verify the occupancy status. Are there tenants? What are the terms? This affects immediate income and vacant possession.
4. Survey & Planning: Confirm the exact land size with a surveyor and investigate any local planning regulations or restrictions for the area.

Ideal For:

- Investors looking for value in growth corridors
- Developers with renovation or rebuild expertise
- Owners seeking a large compound for extended family use

A sizable plot in a growth area offering multiple strategic paths---from immediate use to future redevelopment.