Residential land for sale
2,600 SQM Waterfront Land
Location: Off 3rd Avenue, Banana Island Estate, Ikoyi, Lagos Property Type: Waterfront Land Land Size: 2,600 SQM Price: ₦5 Million per SQM Total Asking Price: ₦13 Billion Title: Lagos State C of O Proposed Use: Residential / Waterfront Development Transaction: For Sale Property Overview This 2,600 SQM waterfront land for sale in Banana Island, Ikoyi, Lagos presents a substantial development opportunity within one of Lagos' most sought-after residential locations. Positioned off 3rd Avenue in Banana Island Estate, the property offers a sizeable land area combined with a direct waterfront position, making it particularly suited to buyers considering a premium private residence or a larger residential development, subject to applicable planning, environmental and development approvals. The property is offered at ₦5 Million per SQM, resulting in a total asking price of ₦13 Billion. Zahari View The defining feature of this property is its waterfront position within Banana Island. With 2,600 SQM of land, the parcel provides significantly more development space than a typical residential plot, potentially giving a private buyer or developer greater flexibility in planning a substantial residential project. For a private buyer, the property may be considered for a large-scale luxury waterfront residence designed around the site's location and waterfront character. For a developer, the land size creates an opportunity to assess a premium residential concept, subject to planning regulations, permitted use, site conditions, environmental considerations and relevant approvals. Property Highlights 2,600 SQM waterfront land Located off 3rd Avenue, Banana Island Estate, Ikoyi ₦5 Million per SQM ₦13 Billion total asking price Lagos State C of O Direct waterfront position Premium Banana Island location Residential / waterfront development potential Suitable for private buyers, developers and strategic property investors Development subject to applicable approvals and regulations Why This Property Deserves Attention Waterfront land in Banana Island commands attention because of the combination of location, land size and waterfront positioning. At 2,600 SQM, this parcel offers a substantial development footprint for buyers seeking more than a conventional residential plot. The property's location within Banana Island also places it within an established premium residential environment, while its waterfront position provides a distinct characteristic that may influence the design, positioning and market appeal of any proposed development. However, the value of a property of this scale should be assessed beyond its headline location. Buyers should consider the site's exact boundaries, planning parameters, waterfront conditions, access, infrastructure and all applicable development requirements before proceeding. Development & Investment Perspective At an asking price of ₦5 Million per SQM, the acquisition represents a significant capital commitment. A developer should therefore undertake a detailed feasibility assessment before committing funds. This should include the proposed development concept, permitted density, building height, setbacks, access, parking, infrastructure, construction costs, professional fees, statutory charges and potential market demand. Because the property has a waterfront position, prospective developers should also undertake appropriate technical and environmental assessments and confirm all applicable requirements governing development along the waterfront. For long-term investors, the property's land size, location, title and future development potential should be evaluated alongside comparable premium land opportunities within Banana Island and the wider Ikoyi market. Investor's Note Prospective buyers are advised to independently verify the property and undertake comprehensive due diligence before making any financial commitment. Key areas of verification should include: Lagos State C of O and title history Survey and exact land dimensions Ownership and transfer history Exact waterfront boundary and site configuration Permitted land use Planning and development regulations Applicable waterfront and environmental requirements Building density and height restrictions Setback and parking requirements Access and infrastructure Applicable government and statutory charges Development feasibility and projected returns Documentation Title: Lagos State C of O Documentation is available for verification. Buyers are advised to engage qualified legal, survey, planning and property professionals to independently verify the title, survey, ownership and development requirements before concluding the transaction. Property Intelligence Beyond the Listing At Zahari Properties, we believe premium property acquisition should be guided by more than location and asking price. A major land acquisition requires a clear understanding of title, planning, development potential, site characteristics, market positioning and long-term value. This 2,600 SQM waterfront land in Banana Island offers a combination of substantial land size and a distinctive waterfront position that makes it worthy of consideration by private buyers and developers seeking a premium residential development opportunity in Ikoyi. Asking Price ₦5 Million per SQM 2,600 SQM × ₦5 Million = ₦13 Billion 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, pricing, availability and documentation are subject to confirmation and verification. Waterfront development may be subject to additional planning, environmental and regulatory requirements. Prospective buyers should conduct independent legal, survey, planning, environmental and financial due diligence before making any financial commitment.
