Uncompleted Block Of 12x3 Bedroom En-suite Flats On 1600sqm On Offer

FOR SALE
Uncompleted Block ---
12 × 3‑Bedroom Ensuites on 3 Plots (Corner) ---
Ikosi‑Ketu
1,600 sqm
C of O & Deed ---
₦450,000,000

Price & Title

- Asking price: ₦450,000,000 (Four Hundred and Fifty Million Naira) --- slightly negotiable
- Title: Certificate of Occupancy (C of O) and Deed of Assignment --- originals available for verification

Location & site

- Location: Ikosi‑Ketu, Lagos --- corner parcel with dual street frontages (faces two streets) providing excellent access, visibility and circulation for vehicles and pedestrians.
- Land size: 1,600 sqm (three contiguous plots) --- regular, development‑friendly footprint.
- Asset: Uncompleted development comprising twelve (12) 3‑bedroom flats (all rooms ensuite). Units are arranged across the existing structural blocks; sale is of the property as‑is (completion, fit‑out and certification to be carried out by buyer or developer).

Property overview
High‑potential development asset in Ikosi‑Ketu: an unfinished residential block offering 12 spacious 3‑bedroom ensuite units on a sizeable 1,600 sqm corner site. The combination of scale, location and clear title makes this an ideal acquisition for developers, investors or owner‑operators looking to complete and reposition the asset for immediate rental income or to redevelop for a higher‑value use.

Key selling points

- Scale & configuration: 12 sizable 3‑bedroom ensuite flats --- strong product for family rental market or segmented sales.
- Rare site size in the precinct: 1,600 sqm on a corner with two‑street exposure --- allows flexible masterplan, additional parking, landscaping or small podium/amenity works.
- Title security: C of O and Deed of Assignment --- supports financing and rapid transaction.
- Versatile end‑uses: Suitable for residential apartments, hostel/student accommodation, guesthouse/hotel conversion, private clinic/hospital, or a school (subject to planning and approvals).
- Development advantage: existing structural work reduces lead time versus a greenfield site --- faster route to cashflow once completion scope is defined.

Opportunities for buyer / developer

- Complete and lease as a mid‑market rental block targeting families and professionals.
- Reposition to serviced apartments or short‑stay units for higher yields.
- Convert or adapt for institutional use (small private school, clinic or hostel) taking advantage of corner visibility and access.
- Subdivide or sell units off‑plan after completion for developer exit.

Condition & completion notes

- Property is uncompleted --- buyer to inspect to ascertain current stage (structural, MEP, finishes) and agree on completion scope.
- Recommended immediate actions for buyer: technical audit (structural & MEP), prepare BOQ and completion cost estimate, and confirm planning envelope/approvals for intended end‑use.

Investment highlights

- Attractive acquisition price for an asset with near‑term value uplift potential following completion or conversion.
- Corner, dual‑frontage site increases marketability and flexibility for commercial or institutional uses.
- Good demand drivers in Ikosi‑Ketu for quality 3‑bedroom units and institutional services (health/education/hostel).

Documentation & due diligence pack

- Available to qualified buyers on request: C of O, Deed of Assignment, as‑built sketches (if available), site plan and any existing approvals.
- Recommended buyer due diligence: legal title search, structural & MEP technical inspection, geotechnical review (if planning major modification), planning/zoning confirmation, and a QS BOQ to cost remaining works.

Transaction & next steps

1. Submit Expression of Interest with proof of funds (POF) or bank reference.
2. Sign NDA to receive full documentation and arrange site inspection.
3. Technical walkthrough with buyer's consultants to determine completion scope & costs.
4. Submit formal offer and negotiate heads of terms.
5. Exchange contract, deposit and complete legal conveyancing.

Why buy now

- Immediate opportunity to acquire a mid‑scale residential asset at a price that allows strong upside on completion or adaptive reuse.
- Corner location and land size provide strategic flexibility for a variety of high‑demand uses in the Ikosi‑Ketu market.

Viewing & contact

- Site inspections by appointment for qualified buyers only. Proof of funds required to arrange document release and site inspection.

Legal & disclaimer
All information provided is indicative and supplied in good faith. Prospective buyers must undertake independent legal, technical and financial due diligence. Price, availability and particulars are subject to change without notice.

Ref: Daka