4,019 Sqm
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Property Description
Prime Mixed-Use Land in Alausa CBD 4,019 SQM
Along Jobi Fele Way Adjacent to Necca House & Gani Fawehinmi Gallery C of O ₦4.5 Billion
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Property Overview
- Location: Alausa, Lagos. Prime position along Jobi Fele Way, beside Necca House and the Gani Fawehinmi Gallery, with immediate proximity to the Corporate Affairs Commission.
- Land Size: 4,019 SQM.
- Current Use: Operational mixed-use expanse with an existing warehouse, administrative office, showroom, and a bungalow.
- Title: Certificate of Occupancy (C of O) with Governor's Consent.
- Asking Price: ₦4,500,000,000.
- Price per SQM: ₦1,119,681.
- Status: Income-generating property with immediate redevelopment potential in the heart of the government and business district.
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Key Highlights
- Unbeatable CBD Location: Situated in Alausa, Lagos's core government and corporate nerve center, ensuring perpetual high demand and prestige.
- Existing Income & Use: Currently operational, providing immediate rental income while plans for redevelopment are finalized.
- Strategic Neighbours: Direct adjacency to major landmarks (Necca House, Gani Fawehinmi Gallery) and walking distance to the Corporate Affairs Commission guarantees unparalleled visibility and accessibility for corporate clients.
- Strong & Clear Title: Possession of both C of O and Governor's Consent offers maximum title security, facilitating straightforward transactions and financing.
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️ Development Potential
This is a rare opportunity to redevelop a key CBD plot for:
- A modern corporate headquarters tower.
- A premium mixed-use complex (Grade-A offices, retail, serviced apartments).
- A dedicated governmental or institutional annex.
- An upscale gallery, conference center, or commercial plaza leveraging its cultural and governmental adjacency.
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Market Context
The asking price of approximately ₦1.12 million per SQM reflects the premium for a large, titled, and strategically located parcel in the Alausa CBD. Value is justified by:
1. Location Scarcity: Land of this scale in the defined Alausa CBD is virtually irreplaceable.
2. Income & Redevelopment Dual Advantage: Offers immediate yield and a clear value-add path through redevelopment.
3. Institutional-Grade Address: Proximity to key government institutions makes it uniquely attractive for corporates, law firms, and diplomatic entities.
Ideal For: Institutional investors, corporate end-users, real estate development funds, and high-net-worth portfolios seeking a landmark asset in Lagos's administrative capital.
A definitive CBD investment offering both current income and exceptional redevelopment upside, with full documentation ready for review.
Property Details
| Property Ref: 3318293 | Added On: 30 Jan 2026 | Last Updated: 30 Jan 2026 |
| Market Status: Available | Type: Mixed-use Land |
Interesting Facts
Ikeja is home to the biggest Information Communications Technology market in Africa; Computer village. Muhammed International Airport is also located in Ikeja. The legendary Fela Anikulapo Kuti lived and still has all his belongings in his house which has been converted into a museum.
Leisure and Shopping
Ikeja is home to the largest mall on the Lagos mainland. The Ikeja City Mall, also known as ICM, is Nigeria's busiest shopping mall. Within the mall, there are numerous clothing stores, restaurants, book stores, lounges, cinemas, and other notable fun destinations.
Popular Estates
The quality of the estates in Ikeja will blow your mind. Living within most of them means that you'd be living in the same area as highly respected government parastatals. Awuse Estate, Alausa Royal Estate, Orchid Court Estate and Brown's Court are some of the best examples.
Day Life
Fela Kuti's former home, the Kalakuta Republic Museum, is a great place to learn about the musician while he was alive. The Silverbird Cinema at ICM and Viva Cinemas at Jara Shopping Mall both have recently released films. Ikeja's many parks are ideal for picnics, hangouts, get-togethers, and group meetings.
Night Life
The New Afrika Shrine is an open-air entertainment centre where Fela Kuti's children perform. Rumors nightclub, Cubana, Crescendo bar, Carlsbad Lounge and nightclub, Club Invogue, Club Uno, and Liquid Lounge are some of the clubs available.
Schools
Schools in Ikeja have consistently ranked in the top positions over the years, thanks to excellent learning infrastructure and experienced teachers. Many of them adhere to the British educational system, which draws international students. Ikeja is also home to Nigerian Police Training School, the Nigerian Police College, and the Nigeria Police Training College.
Read the full area guide for Ikeja, Lagos.
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Disclaimer
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No 60 Chris Idowu Street Ejigbo Isolo, Isolo, Lagos, Nigeria
0803 XXXX Show Phone
08036503218
Registered 5 months ago
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