Commercial land for sale
Off Admiralty Way, Lekki Phase 1, Lekki, Lagos
529 sqm land with structure -- off admiralty way, lekki phase 1
prime location c of o title ₦900 million ₦1,701,323 per sqm
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property overview
- location: off admiralty way, lekki phase 1, lagos -- one of the most prestigious and sought-after addresses on the lekki peninsula, offering proximity to major roads, schools, shops, and amenities.
- land size: 529 sqm.
- current improvements: structure on site (can be renovated, leased, or demolished for redevelopment).
- title: certificate of occupancy (c of o) -- the highest form of title security in nigeria.
- asking price: ₦900,000,000.
- price per sqm: ₦1,701,323.
- status: land with existing structure -- immediate income potential or redevelopment opportunity.
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key highlights
- prime lekki phase 1 address: off admiralty way places this property in the heart of lekki phase 1, surrounded by luxury homes, corporate offices, and high-end retail -- a location that commands premium value.
- strongest possible title: c of o provides absolute ownership certainty -- bankable, transferable, and ready for financing.
- existing structure adds value: the structure on land offers immediate utility -- rental income during planning, caretaker accommodation, or potential renovation for quick occupancy.
- flexible options: renovate and hold for income, or demolish and build a new flagship development.
- quiet yet connected: being "off admiralty way" ensures tranquility and privacy while maintaining easy access to the main artery and all its conveniences.
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️ development potential
529 sqm in this location offers multiple pathways:
option a: renovate & hold
- upgrade existing structure for premium rental income while land appreciates.
- ideal for investors seeking immediate cash flow.
option b: demolish & rebuild
- construct a luxury detached villa with pool and gardens.
- build twin duplexes -- live in one, rent or sell the other.
- develop a boutique apartment block (6--8 luxury flats).
option c: phased approach
- renovate and lease the existing structure while designing and securing approvals for a new build.
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market context
metric value
land size 529 sqm
total price ₦900,000,000
price per sqm ₦1,701,323
market range (lekki ph1) ₦950,000--₦1.5m/sqm (bare land)
structure premium reflects existing building value
title status c of o
- per sqm benchmark: at ₦1.701m/sqm, this price reflects both the prime location and the value of the existing structure. bare land in this micro-location typically ranges from ₦1.1m--₦1.5m/sqm.
- structure value: the ₦350m--₦400m premium over bare land comparables represents the value of the existing building -- offering immediate utility and income potential.
- title premium: c of o provides maximum security and bankability -- a significant advantage.
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ideal for: investors seeking immediate rental income with long-term appreciation; developers wanting a prime lekki phase 1 plot with existing structure to offset holding costs; homebuyers looking to renovate and occupy in a prestigious location.
a versatile 529 sqm c of o property off admiralty way -- with existing structure offering immediate optio...
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₦900,000,000
Ac Valour International
08036503218