3167 Sqm With Existing Structure Directly On Admiralty Way, Lekki
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Property Description
Prime Commercial/Residential Property For Sale -- Directly on Admiralty Way, Lekki Phase 1, Lagos
3,167 SQM Existing 8 Units of 3‑Bed Luxury Apartments C of O Title ₦2.2M per SQM Total: ≈ ₦6.967 Billion
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Property Overview
- Location: Directly on Admiralty Way, Lekki Phase 1, Lagos.
- Land Size: 3,167 SQM.
- Existing Structure: 8 units of luxury 3‑bedroom apartments.
- Title: Certificate of Occupancy (C of O).
- Price per SQM: ₦2,200,000.
- Total Asking Price: ≈ ₦6,967,400,000.
- Status: Prime mixed‑use property with immediate rental income and significant redevelopment potential.
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Key Highlights
- Unbeatable Admiralty Way Frontage: One of Lekki Phase 1's busiest and most prestigious commercial/residential arteries -- maximum visibility and accessibility.
- Income‑Generating Asset: The existing 8 luxury apartments provide immediate cash flow while you plan future redevelopment or hold as an investment.
- Strong C of O Title: Full government‑issued title -- secure ownership, easy transfer, and bankable.
- Large Development Parcel: 3,167 SQM offers substantial scale -- ideal for a future high‑rise, mixed‑use, or luxury estate redevelopment.
- Premium Pricing Justified: At ₦2.2M per SQM, this reflects the scarcity and value of large, titled land directly on Admiralty Way.
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️ Development & Usage Potential
- Option 1 -- Hold & Rent: Collect income from the 8 existing 3‑bed luxury apartments.
- Option 2 -- Renovate & Upgrade: Modernise the existing structure and increase rental value.
- Option 3 -- Redevelop: Demolish and build a landmark development -- e.g., luxury apartment tower, hotel, corporate headquarters, or mixed‑use complex.
- Option 4 -- Phased Development: Develop part of the land while retaining the existing building for rental income.
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Location Benefits -- Admiralty Way, Lekki Phase 1
- Central Business & Lifestyle Hub: Surrounded by banks, restaurants, hotels (Eko, Four Points), retail outlets, and corporate offices.
- Excellent Connectivity: Quick access to Ikoyi, Victoria Island, and the Lekki‑Epe Expressway.
- High Traffic & Visibility: Ideal for commercial branding and high‑occupancy residential.
- Secure & Prestigious: One of Lagos's most desirable addresses.
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Investment Value
- Price per SQM: ₦2.2 Million.
- Total Value: ≈ ₦6.97 Billion.
- Income Potential: The 8 existing apartments generate immediate rental income -- cap rate to be calculated based on current market rents.
- Redevelopment Upside: Land value alone is exceptional; developing a high‑rise could multiply returns.
- Scarcity Premium: Large, titled plots directly on Admiralty Way are increasingly rare.
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Sale Opportunity
A rare chance to acquire a large, titled property directly on Admiralty Way, complete with existing rental income. Perfect for an investor, developer, or institution seeking a prime Lekki Phase 1 asset.
Ideal For:
- Real estate investment funds (hold for income and appreciation).
- Developers (redevelopment into a landmark tower).
- Corporate organisations (flagship headquarters).
- High‑net‑worth individuals (legacy asset).
Admiralty Way frontage + C of O + 3,167 SQM + 8 luxury apartments -- a compelling opportunity.
Serious inquiries only.
Property Details
| Property Ref: 3525611 | Added On: 13 Jun 2026 | Last Updated: 13 Jun 2026 |
| Market Status: Available | Type: Residential Land | Total Area: 3,167 sqm |
Interesting Facts
Who'd have guessed that Lekki Phase 1, one of Lagos' most luxurious neighbourhoods, was formerly a slum?
Leisure and Shopping
There are several types of shopping malls in Lekki Phase 1 if you want to go shopping. Restaurants, game centres, retail boutiques, cinemas, and other amenities are available at some malls.
Popular Estates
Lekki Phase 1 is a prime location for luxury estates because it is a well-planned residential government scheme. There are a number of private estates within its walls. Almost all of them are gated to ensure the safety of their occupants.
Day Life
Due to Lekki's affluent residents, the area has a lot of social hotspots. Weekends are usually jam-packed with visitors from all over who want to unwind after a long week at work. If you're looking to have a great time in Lekki Phase 1, you're definitely covered.
Night Life
Do you want to chill with the ‘Lekki Big Boys & Girls’? Then go nighttime exploring in Lekki Phase 1. Lagos is known as the city that never sleeps, and the residents of Lekki understand the assignment. They are always willing to show up at the local bars and clubs.
Schools
Aside from entertainment and recreation, Lekki Phase 1 provides quality education to its residents. It is home to some of Lagos State's most prestigious schools.
Read the full area guide for Lekki Phase 1, Lekki, Lagos.
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