Centrally Located 1,084.72sqm Of Prime Development Land

FOR SALE OR JOINT VENTURE
PRIME REDEVELOPMENT SITE ON IKORODU ROAD, PALM GROOVE
A rare commercial/residential opportunity on one of Lagos's busiest corridors --- superb visibility, excellent frontage and immediate redevelopment potential.
Location & Key Facts

- Address: 194 Ikorodu Road (beside GTBank building), Palmgroove, Lagos
- Land Size: 1,084.72 sqm (single, contiguous parcel)
- Present Development: Open paved compound with a duplex and a gatehouse --- immediate use or easy demolition for redevelopment
- Title: Registered Deed of Assignment to predecessor in title; new deed is being processed for registration in the current owner's name (title regularisation is advanced --- full documentation available for due diligence)
- Asking Land Value: ₦1,600,000,000 (One Billion Six Hundred Million Naira)
- Proposal: Owner is open to all credible proposals --- block of flats, shopping mall, office complex, mixed‑use or alternative commercial schemes

Why this asset is exceptional
- Strategic frontage on Ikorodu Road: prime high‑traffic location with constant vehicular exposure, excellent for retail, banking, corporate or hospitality anchors.
- Landmark adjacency: positioned beside the GTBank building --- enhancing corporate visibility and immediate customer catchment.
- Immediate usability: existing paved compound and duplex provide operational flexibility (temporary income, site office or hold while approvals are processed).
- Redevelopment scale: 1,084.72 sqm is ideal for a vertical mixed‑use scheme that maximises site value --- podium retail with office/residential floors above, a boutique mall, or upscale apartment block.
- Strong commercial catchment: Palmgroove's blend of commerce, retail and residential traffic supports diverse leasing strategies and fast tenant absorption.

Ideal development concepts
- Retail anchor + multi‑tenant shopping mall or F&B precinct
- Grade A office complex or corporate headquarters with parking & street frontage
- High‑end block of flats / serviced apartments or hybrid residential/mixed‑use tower
- Bank branch, showroom or healthcare/clinic hub with excellent access and visibility

Title & transaction readiness

- Title regularisation is in progress; deed transfer to the current owner is being processed. Full title documents, survey and site plans can be made available to qualified buyers and their advisers for due diligence.
- The site is transaction‑ready subject to standard verification and completion of registration formalities.

Next steps / How to engage
- Serious buyers and developers should submit an Expression of Interest (EOI) or Letter of Intent (LOI) together with company profile and proof of funds.
- NDA and site inspection arranged for pre‑qualified parties. Full due‑diligence pack provided on request.
- Viewings and technical briefings by appointment only.

Why act now
Land with this combination of size, frontage and strategic positioning on Ikorodu Road is scarce. Whether you seek a high‑yield commercial redevelopment, an institutional investment or a signature residential project, this site provides the platform to deliver immediate impact and exceptional returns.

For confidential enquiries, to request documentation or to arrange an inspection, please contact us with proof of funds. Serious offers and pre‑qualified developers only.
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