1,200 Sqm Uncompleted Block Of 3‑bedroom Flat

Uncompleted Block of 3‑Bedroom Flats For Sale on Fola Osibo Street, Lekki Phase 1, Lagos
1,200 SQM Deed of Assignment & COFO Title ₦3 Billion ≈ ₦2.5 Million per SQM

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Property Overview

- Location: Fola Osibo Street, Lekki Phase 1, Lagos.
- Land Size: 1,200 SQM.
- Property Type: Uncompleted block of 3‑bedroom flats.
- Title: Deed of Assignment & Certificate of Occupancy (COFO -- Family/Private Grant).
- Asking Price: ₦3,000,000,000.
- Price per SQM: ≈ ₦2,500,000.
- Status: Vacant uncompleted structure; potential to complete, renovate, or redevelop.

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Key Highlights

- Prime Lekki Phase 1 Address: Fola Osibo Street is a prestigious, quiet residential street in the heart of Phase 1 -- close to Admiralty Way, major banks, and luxury estates.
- Dual Title Documentation: Deed of Assignment + COFO provides a clear chain of ownership and a solid legal foundation (verification recommended for COFO).
- Immediate Project Potential: The uncompleted structure can be finished and sold/rented, or demolished entirely for a new luxury development.
- Large Land Bank: 1,200 SQM offers ample space for a substantial residential or mixed‑use project.
- Competitive Per‑SQM Price: At ≈ ₦2.5M/SQM, this is positioned attractively for titled land in this exclusive micro‑location.

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️ Development & Usage Potential

- Option 1 -- Complete the Existing Block: Finish the 3‑bedroom flats to a high standard and sell or rent individually.
- Option 2 -- Renovate & Upgrade: Modify the existing structure to create luxury apartments (e.g., larger units, penthouses).
- Option 3 -- Demolish & Redevelop: Build a brand‑new luxury residential or mixed‑use building (apartments, townhouses, or a boutique hotel).
- Option 4 -- Phased Development: Complete the existing block to generate rental income while planning future redevelopment.

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Location Benefits -- Fola Osibo Street, Lekki Phase 1

- Secure & Serene Environment: Low traffic, well‑paved roads, and 24/7 security presence -- a hallmark of Lekki Phase 1.
- Proximity to Key Destinations: Minutes from Admiralty Way, Ikoyi, Victoria Island, and major commercial hubs.
- Established Neighbourhood: Surrounded by luxury homes, embassies, and executive residences.
- High Demand: Properties in this area consistently achieve premium rents and resale values.

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Investment Value

- Total Asking Price: ₦3 Billion.
- Price per SQM: ≈ ₦2.5 Million.
- Market Context: For land with an existing structure on Fola Osibo Street, this price is competitive -- lower than nearby bare‑land listings on some premium streets.
- Value‑Add Opportunity: Completing the building could unlock significant returns; alternatively, land banking in this location offers strong long‑term appreciation.
- Title Considerations: COFO titles require thorough due diligence to confirm authenticity and family consent -- engage a lawyer to verify before purchase.

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Sale Opportunity

An attractive entry into Lekki Phase 1 with a partially completed building. Ideal for developers or investors who can finish the project or reimagine the site entirely.

Ideal For:

- Real estate developers (completion or redevelopment).
- Investors seeking value‑add opportunities.
- Families wanting a large compound with existing structure.

Fola Osibo Street + 1,200 SQM + uncompleted 3‑bed flats + dual title -- a project waiting for the right vision.
Serious inquiries only -- title verification advised.