Residential land for sale
Fola Osibo Street, Lekki Phase 1, Lekki Phase 1, Lekki, Lagos
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 advis...
More details
Added Yesterday
₦3,000,000,000
Ac Valour International
08036503218