1,500 SQM Land Property

Property Details Location: Akin Adesola Street, Victoria Island, Lagos Property Type: Property / Development Site Land Size: 1,500 SQM Price: US$6 Million Transaction: Sale Title: Lagos State Certificate of Occupancy (C of O) Zahari View This 1,500 SQM property on Akin Adesola Street, Victoria Island, presents a substantial holding within an established central Lagos district with a mix of commercial, residential, hospitality and business activity. The size and location make the property relevant to buyers assessing different development strategies. However, the property's existing improvements, approved land use and applicable development parameters should be independently established before any development or acquisition decision is made. For prospective buyers, particular attention should be given to the current condition of the property, title, permitted use, planning requirements, development potential and the economics of the intended end use. Property Highlights 1,500 SQM land size Located on Akin Adesola Street, Victoria Island Established central Lagos location Lagos State C of O Existing property improvements Potential for assessment as a development or investment site Relevant to commercial, hospitality or mixed-use considerations, subject to approvals Asking price: US$6 Million Why This Property Deserves Attention The 1,500 SQM site provides a substantial footprint within Victoria Island, allowing prospective buyers to assess the property beyond its existing configuration. Akin Adesola Street is situated within a part of Victoria Island characterised by significant commercial and business activity, making the property's surrounding environment relevant when considering its potential use. For a property at this price point, however, buyers should establish exactly what the existing title and planning framework permit. The approved land use, development parameters, building restrictions and condition of any existing improvements should form part of the acquisition assessment. Buyer's Perspective Before purchasing, prospective buyers should request detailed information about: Exact land boundaries and survey details Existing structures and improvements Current physical condition Approved land use Existing planning approvals Development density Building height restrictions Setback requirements Parking requirements Access and road frontage Drainage and infrastructure Environmental considerations Title and ownership documentation Any existing encumbrances or restrictions Applicable development requirements These details can help determine the practical development options available to the buyer. Investment Perspective For an investment-focused purchaser, the assessment should consider the US$6 million acquisition price, land size, location, permitted use, existing improvements, redevelopment costs and intended investment strategy. Depending on verified planning information, the site may be assessed for commercial, hospitality or mixed-use development. However, the feasibility of each option should be established through professional planning, legal and financial analysis rather than assumed from the property's location. Investors should therefore evaluate the total acquisition and development cost against the intended end use and current market conditions. Investor / Buyer Note Serious buyers should conduct independent due diligence covering: Verification of the Lagos State C of O Ownership verification Survey plan and land boundaries Physical inspection of the property Assessment of existing structures Approved land use Planning and development approvals Development density Building height limitations Setback requirements Parking requirements Road access and frontage Drainage and utility infrastructure Environmental requirements Existing encumbrances Feasibility of the proposed development Applicable government requirements A professional survey, planning assessment and legal review are strongly recommended before proceeding with the acquisition. Documentation The stated Lagos State Certificate of Occupancy (C of O) and relevant property documentation should be made available for independent verification by serious prospective buyers. Where development or redevelopment is being considered, buyers should also verify the existing approvals, permitted land use and applicable planning requirements with the relevant authorities. Appropriate legal, surveying, planning and property professionals should be engaged before completing the transaction. Property Intelligence Beyond the Listing At Zahari Properties, we believe a substantial property in Victoria Island should be evaluated based on more than its address and land size. For this 1,500 SQM property on Akin Adesola Street, the relationship between the existing improvements, title, permitted land use, development parameters and intended end use is particularly important. A buyer considering commercial, hospitality or mixed-use development should first establish what is legally and practically achievable on the site. The economics of any proposed redevelopment should then be assessed against the acquisition cost and associated development requirements. During inspection, buyers should therefore assess both the existing property and the wider development context before determining how the opportunity aligns with their investment objectives. Asking Price US$6 Million For Enquiries & Inspections Call / WhatsApp: +234 803 384 8156 +234 907 301 3359 Website: www.zaharihub.com Zahari Properties ...Points in the right direction. Disclaimer: Property information is based on details provided at the time of listing. Land size, title, ownership, existing improvements, permitted land use, planning approvals, development parameters and other property information should be independently verified by the prospective buyer before making an offer or completing a transaction.