600 SQM Land

Property Details Location: Ostia Island, Lagoon District, Lekki Phase 1, Lagos Property Type: Land Land Size: 600 SQM Transaction: Distress Sale Asking Price: ₦400,000,000 Net Title: Certificate of Occupancy (C of O) Development Potential The 600 SQM parcel may be suitable for residential development, subject to applicable planning regulations, permitted land use, development controls and the outcome of independent due diligence. Prospective buyers should confirm the development parameters applicable to the specific plot before proceeding with any proposed building project. Zahari View This is a compact land opportunity positioned within Ostia Island, Lagoon District, Lekki Phase 1, Lagos. At a net asking price of ₦400 million, the property may be relevant to buyers looking for a land acquisition opportunity within the Lekki Phase 1 corridor. The stated C of O provides a starting point for title verification, but buyers should independently confirm the authenticity, ownership, boundaries, survey details, land use and any restrictions or encumbrances affecting the property. The distress-sale nature of the transaction also makes it particularly important to understand the seller's authority, transaction timeline and reason for sale before committing funds. Property Highlights 600 SQM land. Located in Ostia Island, Lagoon District, Lekki Phase 1. C of O. ₦400 million net asking price. Potential for residential development, subject to approval. Distress-sale opportunity. Located within the Lekki Phase 1 corridor. Why This Property Deserves Attention The relatively compact land size may suit buyers seeking a residential development site without acquiring a substantially larger parcel. The ₦400 million net price should, however, be evaluated alongside the exact location, title position, development restrictions, construction costs and other acquisition expenses. For a distress transaction, speed should not replace proper due diligence. Buyers should establish that the transaction is properly documented and that there are no outstanding claims, disputes, charges or other issues affecting the land. Buyer's Perspective Before committing to the acquisition, prospective buyers should confirm: Exact location of the 600 SQM parcel. Survey plan and surveyed boundaries. Authenticity and status of the C of O. Seller's ownership and authority to sell. Land registry search. Permitted land use. Applicable development controls. Building setbacks and site coverage. Access to the property. Drainage and site conditions. Existing encumbrances or restrictions. Any outstanding obligations attached to the property. Reason for the distress sale. Complete transaction costs. Current availability. Investment Perspective At ₦400 million net, the acquisition cost should be considered alongside all associated expenses required to complete the transaction and develop the property. A prospective developer should assess the total project cost, including acquisition expenses, professional fees, statutory charges, design, construction, infrastructure and financing costs where applicable. The development concept should also be tested against the permitted use and current market conditions before funds are committed. Investor / Buyer Note A physical inspection and independent professional due diligence are strongly recommended before making payment. For a distress-sale property, buyers should be particularly careful to verify the seller's authority, title status, ownership history and whether any legal, financial or third-party interests affect the property. Documentation Prospective buyers should request and review: Certificate of Occupancy. Survey plan. Evidence of ownership. Seller's authority to transact. Relevant land registry search. Deed or other applicable transfer documents. Planning and land-use information. Evidence of any encumbrances or restrictions. Transaction terms and conditions. Details of all applicable fees and charges. Property Intelligence Beyond the Listing The main attraction of a distress-sale property is often the opportunity to acquire an asset at a negotiated price and within a potentially shorter transaction window. However, the circumstances surrounding a distress sale require careful verification. Before proceeding, the buyer should establish why the property is being sold under distress conditions, whether the seller has clear authority to sell, whether the title is clean and whether the proposed development is permitted. The land should ultimately be evaluated based on its verified title, location, development potential and total acquisition cost---not the distress-sale label alone. Asking Price ₦400,000,000 Net For Enquiries & Inspections +234 907 301 3359 www.zaharihub.com Zahari Properties ...Points in the right direction. Disclaimer: Property information contained in this listing is based on the details provided and remains subject to independent verification and confirmation of current availability. Prospective buyers should independently verify the title, ownership, survey, boundaries, permitted land use, development restrictions, access, encumbrances, transaction terms and all applicable costs before making payment or entering into an agreement.