Property Overview: We present a lucrative investment opportunity in the prestigious Shonibare Estate, Ikeja, Lagos. The property in focus is a charming old family mansion nestled on approximately 1,306 square meters of prime land. With a reduced valuation of N 800,000 per square meter, the property offers substantial potential for capital appreciation and high returns on investment.
Investment Highlights:
1. Redevelopment Potential: The property presents an exceptional opportunity for redevelopment. With its prime location and ample land area, there is the potential to construct up to 14 units of luxury apartments. The estimated off-sale prices for these units range up to N250 million per unit, reflecting the demand for upscale residential spaces in the area.
2. Upscale Boutique Hotel: Alternatively, investors may consider transforming the property into an upscale boutique hotel to cater to the growing demand for luxury accommodations in Lagos. The affluent neighborhood of Shonibare Estate provides an ideal setting for such a venture, promising high occupancy rates and premium room rates.
3. Buy and Resell Strategy: Investors also have the opportunity to acquire the property at a reduced valuation and resell it at a premium after refurbishment or redevelopment. With the scarcity of prime real estate in Shonibare Estate, properties with a Lagos State Certificate of Occupancy (C of O) command significant interest from discerning buyers, ensuring a profitable exit strategy.
Investment Details:
• Property Type: Redevelopment Opportunity
• Location: Shonibare Estate, Ikeja, Lagos
• Land Area: Approximately 1,306 square meters
• Valuation: N 800,000 per square meter
• Title: Lagos State Certificate of Occupancy (C of O)
Projected Returns:
• Redevelopment into luxury apartments: Potential off-sale prices of up to N250 million per unit
• Boutique hotel venture: High occupancy rates and premium room rates
• Buy and resell strategy: Capital appreciation and premium resale value
Conclusion: The investment opportunity in Shonibare Estate presents a compelling proposition for investors seeking high-yield ventures in the real estate sector. With its prime location, reduced valuation, and versatile redevelopment options, the property offers multiple avenues for generating substantial returns on investment. Don’t miss out on the chance to capitalize on the opulent lifestyle and lucrative market of Shonibare Estate.
Building seats in 1306m² of land in Sonibare Estate Lagos
The selling price is NGN1,044,800,000
