Adeola Odeku, Victoria Island (VI), Lagos
₦7,500,000,000
| Property Ref: 3082168 | Added On: 08 Sep 2025 | Last Updated: 16 Sep 2025 |
| Market Status: Available | Type: Land | Total Area: 3,394 sqm |
NOTICE: *DIRECT BUYER COMMUNICATION ONLY* (NO AGENTS- NO MANDATES)
Listing Title:
Prime 3,394 sqm Land at Adeola Odeku, Victoria Island ---
Title: Federal Allocation Letter
Asking: 7,500,000,000
Overview:
Rare directbrief opportunity to acquire a strategic 3,394 sqm land parcel on Adeola Odeku, Victoria Island --- a core commercial and premium mixeduse corridor in Lagos. The site is offered with an allocation letter issued by the Federal Government. Positioned in one of the city's highestvalue nodes, this parcel is highly suitable for flagship commercial, hospitality, office or mixeduse developments and represents a trophy acquisition for developers, institutional investors and corporate occupiers.
Key Details
- Property type: Vacant land (prime commercial/mixeduse)
- Size: 3,394 sqm
- Location: Adeola Odeku, Victoria Island, Lagos
- Title/Status: Allocation letter from the Federal Government (documents available)
- Asking price: 7,500,000,000 (Seven Billion Five Hundred Million Naira)
- Sale instruction: Direct brief / direct instruction from seller
- Indicative price per sqm: approx. 2,209,000 (for reference)
Location & Strategic Advantages
- Situated on Adeola Odeku --- central Victoria Island arterial serving premium corporate, retail and leisure activities
- Immediate proximity to major banks, corporate headquarters, upscale retail, hotels, restaurants and nightlife --- strong demand drivers for commercial rents
- Excellent connectivity to Victoria Island, Ikoyi and Lekki via major roads and bridges
- High footfall and visibility --- strong frontage potential for commercial branding and signage
- Scarcity of sizeable contiguous parcels in this corridor enhances longterm capital appreciation and development value
Recommended Development Uses
- Office tower or corporate headquarters
- Mixeduse development: retail podium + serviced apartments/offices
- Upscale hotel or hospitality complex
- Highyield commercial plaza, flagship retail or showroom
- Valueadd redevelopment or jointventure (JV) opportunities with institutional developers
(Subject to planning approvals and regulatory permits)
Title, Documentation & Legal Considerations
- Current documentation: Federal Government allocation letter --- available for inspection to serious/verified buyers
- Allocation letter typically requires conversion/regularization (process to obtain final C of O / statutory consent may be necessary depending on status) --- buyers should engage legal counsel early
- Seller will provide allocation documentation, site plan and related paperwork on proof of seriousness
- Buyers advised to perform full legal/title due diligence and confirm status of allocation, conditions and any outstanding obligations with relevant federal land authorities
Due Diligence & Technical Recommendations
Prospective buyers should conduct the following prior to commitment:
- Verification of allocation letter authenticity and chain of instruction with the issuing federal authority
- Confirmation of process and timelines for issuance of C of O or final title conversion (if required)
- Boundary verification and survey confirmation on site
- Zoning/landuse and planning checks with Lagos State and federal planning agencies
- Environmental, geotechnical and floodrisk assessments as applicable
- Infrastructure and utility availability checks (access, power, drainage, waste management)
Investment Highlights
- Trophy asset in the heart of Victoria Island with limited comparable inventory
- Strong rental and capital appreciation profile driven by corporate and retail demand
- Flexible development options for commercial, hospitality or mixeduse schemes
- Direct brief availability enables potentially faster negotiation and transaction process for serious buyers
Price, Terms & Fees
- Asking price: 7,500,000,000 (negotiable based on terms and proof of funds)
- Buyer to bear customary acquisition costs (legal fees, stamp duty, professional fees, conversion/registration fees and any government levies) unless otherwise agreed
- Payment structure and timelines negotiable --- contact to discuss preferred terms
Viewing & Next Steps
- Site inspections and document review by appointment for serious and qualified buyers only
- Allocation letter, site plan and related documents available on request after verification of buyer credentials
- Photo gallery and video/site visit can be arranged for remote investors
- Recommended next steps: request documents, arrange onsite inspection, instruct legal/title search and liaise with relevant authorities re: allocation conversion
Contact: Mr. Kola Adesina (EDBA)
All detailed documentation and commercial discussions will be provided on a confidential basis and subject to a signed NDA.
Serious proposals only.
*How we work*
Tell us your needs (budget, location, size).
Our team reviews your request and assigns a dedicated relationship manager.
We only source conflict-free land and properties with clear titles.
We conduct due diligence and arrange site visits.
Viewings are by appointments only
Finalize purchase, rental or lease with legal support.
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Ref: Daka
