1,650 SQM Commercial Property

Property Details Location: Adetokunbo Ademola, Victoria Island, Lagos Property Type: Vacant Commercial Property Land Size: 1,650 SQM Asking Price: ₦6,500,000,000 net (₦6.5 Billion) Title: Certificate of Occupancy (C of O), as stated Transaction: For Sale Zahari View This vacant commercial property is available for sale on Adetokunbo Ademola, Victoria Island, Lagos, offering prospective buyers an opportunity to assess a sizeable property in a prominent commercial district. With a land area of 1,650 SQM and a stated asking price of ₦6.5 billion net, the property may appeal to investors, owner-occupiers and developers considering commercial acquisition or redevelopment. The vacant status provides an opportunity for a buyer to evaluate the site in line with an intended business or development strategy. Potential uses could include corporate offices or other permitted commercial purposes, subject to the property's existing planning status, applicable zoning regulations and the relevant approvals. The actual development potential should be established through professional assessment rather than assumed from the location alone. For buyers considering redevelopment, the key factors include the existing title and planning documentation, permitted land use, development density, building height, setbacks, access and infrastructure. A detailed assessment of these factors, together with an independent valuation, will help determine whether the asking price aligns with the property's condition, location and intended use. Property Highlights 1,650 SQM commercial property. Located on Adetokunbo Ademola, Victoria Island, Lagos. Vacant property available for sale. Asking price of ₦6.5 billion net. C of O stated. Potential opportunity for commercial occupation or redevelopment, subject to approvals. Suitable for assessment by corporate buyers, investors and developers. Why This Property Deserves Attention The property's location on Adetokunbo Ademola makes it relevant to buyers assessing commercial real estate in Victoria Island. The 1,650 SQM land area offers a substantial site for evaluating a business premises or a potential redevelopment concept, subject to the applicable planning framework. For an owner-occupier, the property may be assessed against requirements such as office space, operational layout, access, parking, utilities and long-term occupancy costs. For an investor or developer, the focus should include permitted development capacity, potential project costs, market demand and the feasibility of the intended use. Because the property is vacant, prospective buyers should inspect its current physical condition and establish whether existing structures, site preparation or other works would be required. Any proposed redevelopment should be supported by a professional feasibility study and confirmation of the relevant planning requirements. Buyer's Perspective: What to Verify Before proceeding with an offer, prospective buyers should independently confirm: Exact land boundaries and the surveyed area of 1,650 SQM. Authenticity and current status of the stated Certificate of Occupancy. Ownership records and the seller's legal authority to transfer the property. Any mortgages, encumbrances, disputes or restrictions affecting the property. Current land use and permitted commercial activities. Existing planning approvals and any conditions attached to the site. Applicable building height, density, setback and parking requirements. Road access, utility availability, drainage and other infrastructure. The property's physical condition and any demolition or remediation requirements. Applicable statutory charges, taxes, fees and transaction costs. The meaning of the stated net price and any additional amounts payable. A physical inspection and independent legal, surveying, valuation and planning reviews are recommended before committing to the acquisition. Investment Perspective At the stated asking price of ₦6.5 billion for 1,650 SQM, the indicative asking rate is approximately ₦3.94 million per SQM. This figure is a simple calculation based on the supplied land size and total asking price. It does not represent an independent valuation and excludes any additional transaction costs that may apply. Prospective buyers should compare the asking price with relevant commercial properties, assess the property's verified development potential and prepare a financial model based on the intended use. For redevelopment, the assessment should include construction or refurbishment costs, professional fees, statutory charges, infrastructure, financing and contingency allowances. Future appreciation or investment returns should not be assumed without independent market evidence and financial analysis. Investor / Buyer Note The key consideration is whether the property's location, verified title, permitted use and physical condition align with the buyer's commercial or redevelopment objectives. Before committing funds, prospective buyers should confirm the title and planning position, inspect the site and obtain independent professional advice on its valuation and development potential. These steps will help establish whether the property is suitable for the intended strategy and whether the acquisition price is commercially justified. For Enquiries & Inspections Phone: +234 907 301 3359 Website: www.zaharihub.com Zahari Properties ...Points in the right direction. Disclaimer: This listing is based on the information provided and does not constitute independent verification of the property, title, asking price or development potential. Prospective buyers should independently verify the land size, boundaries, ownership, title documentation, permitted use, planning approvals, physical condition and all transaction terms before proceeding.