3,700 SQM Residential Land

Property Details Location: Probyn Road, Old Ikoyi, Lagos Land Size: 3,700 SQM Property Type: Detached Residential Property Existing Structure: 6-bedroom detached residence Additional Accommodation: 4-room BQ Facility: Swimming pool Title: Lagos C of O stated Unexpired Term: 65 years stated Price: ₦4.2 Million per SQM Transaction: For Sale Indicative Land Value At the stated asking price of ₦4.2 Million per SQM: 3,700 SQM × ₦4.2 Million = ₦15.54 Billion The above is an indicative calculation based strictly on the supplied land size and price per SQM. The final transaction value and any applicable fees should be confirmed with the seller. Zahari View This is a substantial Old Ikoyi property combining a large 3,700 SQM landholding with an existing 6-bedroom detached residence, a 4-room BQ and swimming pool. For an asset of this scale, the buyer's assessment should extend beyond the existing house. The underlying land value, remaining title term, current condition of the structures and potential future use of the site may all be relevant to the acquisition decision. The stated 65-year unexpired term is particularly important and should be independently verified against the title documentation and relevant land records. Buyers should also establish whether the existing improvements have the necessary approvals and whether the property's current configuration is consistent with applicable planning requirements. Property Highlights 3,700 SQM land Probyn Road, Old Ikoyi 6-bedroom detached residence 4-room BQ Swimming pool Lagos C of O stated 65-year unexpired term stated ₦4.2 Million per SQM asking price Substantial site suitable for assessment for continued residential use or potential redevelopment, subject to planning and regulatory requirements Why This Property Deserves Attention The size of the landholding distinguishes this property from smaller residential plots typically available in established parts of Ikoyi. The existing residence may provide immediate residential utility, while the scale of the site could also make the underlying land an important component of the acquisition. However, redevelopment potential should not be assumed simply from the size of the property. Any future development would depend on applicable planning regulations, permitted land use, density, setbacks, height restrictions, access, parking requirements and other approvals. Buyer's Perspective Prospective buyers should evaluate two components independently: 1. The existing asset Structural condition of the residence Quality and age of construction Condition of the BQ Swimming pool and other external facilities Existing building approvals Cost of renovation or refurbishment 2. The underlying land Exact survey dimensions and boundaries Title authenticity and status Remaining title term Permitted land use Applicable planning controls Development potential Access and road frontage Setbacks and building envelope Potential redevelopment costs Investment & Redevelopment Perspective At the stated ₦4.2 Million per SQM, the indicative land value is approximately ₦15.54 Billion. A buyer considering redevelopment should conduct a feasibility assessment before assigning additional value to the property's development potential. This should include architectural, planning, engineering, legal and financial assessments. For continued residential use, the buyer should compare the acquisition cost with the property's condition and the estimated cost of bringing the existing residence to the required standard. Documentation & Verification Before entering into the transaction, buyers should independently verify: Lagos C of O Current ownership 65-year stated unexpired term Survey plan and coordinates Exact land boundaries Existing building approvals Permitted land use Planning and development restrictions Existing encumbrances or interests Property tax and statutory obligations Condition and structural integrity of the buildings Redevelopment parameters, where applicable Independent legal, planning, valuation and technical advice is recommended before completion. Asking Price ₦4.2 Million per SQM Indicative calculation: ₦15.54 Billion for 3,700 SQM For Enquiries & Inspections Call/WhatsApp: +234 907 301 3359 Website: www.zaharihub.com Zahari Properties ...Points in the right direction. Disclaimer: Property information is based on details supplied for the listing. Land size, price, title, unexpired term, building approvals, ownership, boundaries, existing structures and redevelopment potential should be independently verified before any transaction is concluded.