Block of flats for sale
Existing Three-Floor Building Carcass on 1700SQM
Distress sale 1,700 SQM Development Opportunity Osapa, lagos ₦1.5 billion a substantial value-add opportunity for developers, property investors and strategic buyers seeking an existing development platform in Osapa. The opportunity Available for acquisition is approximately 1,700 SQM of land in Osapa, Lagos, with an existing three-floor building carcass. The property is being offered as a distress sale at ₦1.5 billion, creating an opportunity for an investor to acquire an existing development rather than commence from a vacant site. The structure provides a foundation for a potential boutique residential and lifestyle development, subject to architectural, structural, planning and regulatory due diligence. WHY this asset is interesting existing three-floor carcass a substantial portion of the building structure is already in place, potentially reducing the time and capital required compared with starting a new development from the ground up. 1,700 SQM landholding a meaningful landholding within Osapa provides scope to optimise the existing development for a higher-value residential product. Value-add potential The opportunity is particularly suited to an investor capable of acquiring, completing and repositioning an unfinished asset. Premium residential positioning Our proposed concept explores transforming the existing structure into a distinctive residential development centred around one-bedroom apartments, an internal atrium, landscaped communal spaces and premium lifestyle amenities. Rooftop opportunity The roof presents potential for a recreational destination incorporating outdoor lounge areas, dining, landscaping, wellness and entertainment spaces, subject to structural and planning feasibility. The proposed vision Rather than completing the building as a conventional apartment block, the opportunity can be repositioned as a design-led urban residential destination. Our preliminary concept explores: One-bedroom residences Efficient premium apartments designed for professionals, executives, corporate tenants and investment buyers. Central atrium a dramatic internal communal space incorporating natural daylight through a roof skylight, landscaping, balconies and resident lounges. Rooftop recreation a landscaped rooftop environment with lounge, outdoor dining, fitness, wellness and entertainment potential. Industrial-luxury design Concrete, timber, metal, architectural lighting and greenery can transform the existing structural language into a distinctive visual identity. Investment Angle The attraction is the value gap. An investor is acquiring: Land + existing structure + Development Potential The strategy is then to: Acquire complete reposition lease / operate stabilise hold or exit This provides several potential routes to value creation rather than relying solely on passive land appreciation. Potential end uses Depending on planning, market research and feasibility studies, the completed asset could potentially serve as: - Premium residential apartments - Corporate accommodation - Managed apartments - Short / medium-stay accommodation - Boutique residential investment - Hybrid residential and lifestyle development The final use should be determined through a professional feasibility study and the investor's preferred return strategy. Who should look at this? This opportunity is particularly suited to: Property Developers Looking for an existing construction platform in Lagos. Value-add investors Seeking distressed or incomplete assets where execution can create substantial value. Private capital / family offices Seeking a tangible real-estate-backed investment with multiple potential exit strategies. Hospitality / residential operators Interested in developing a differentiated boutique accommodation concept. Strategic partners With the capital and execution capability to complete and reposition the asset. Key commercial information Location Osapa, Lagos Land Size Approximately 1,700 SQM Existing Development Three-floor building carcass Transaction Distress Sale Guide Price ₦1.5 Billion Development Status Incomplete Proposed Strategy Complete, reposition and monetise Due Diligence Required prior to acquisition The Investment Proposition This is not being presented as a finished development. That is precisely the opportunity. The buyer has the ability to influence the final product, development economics, unit mix, positioning, amenities and operating strategy. With the right execution, an unfinished carcass can be converted into a recognisable, income-producing residential asset rather than simply completed as another apartment building. The ask ₦1.5 billion Serious investors and developers may request the full property information, documentation and arrange a physical inspection subject to the seller's process. Documentation and physical inspection will be made available as part of the due-diligence process. Osapa, lagos distressed asset. Existing structure. Development upside. Vol 24 24
