Land joint venture
Exceptional Joint Venture Offer on 3000SQM of Prime Land
Exceptional Joint Venture Opportunity --- Victoria Island, Lagos Overview Prime development site located on Akin Ogunlewe Street, Victoria Island --- positioned at the rear of Eko Hotels. Total land area: 3,000 sqm. Ideal for a high-end residential development comprising luxury flats across an 8 to 10-storey tower. This opportunity offers a strategically located, high-impact development plot on Victoria Island with immediate feasibility for luxury residential construction and attractive commercial upside for experienced developers. Title & Tenure - Current Title: Federal Certificate of Occupancy (Fed. C of O) - State C of O is in process Investment & Financials - Land valuation: N2,800,000 per sqm - Total land value (indicative): N8,400,000,000 - Premium: N200,000,000 - Facilitator fee: 10% Development Proposition - Concept: Luxury residential apartments (8--10 floors) targeting high-net-worth residents and expatriates. - Target product mix: Spacious two- to four-bedroom apartments and penthouse units designed to premium specifications, with concierge services, secure parking, backup power, and dedicated amenities. - Built form rationale: An 8--to 10-storey low-rise tower preserves exclusivity while maximising unit yield and capitalising on Victoria Island's premium residential market. Site Advantages - Prime Victoria Island location with immediate proximity to Eko Hotels and island commercial nodes. - Strong demand drivers: corporate executives, expatriates, and upwardly mobile professionals seeking gated, luxury residences in core Lagos neighbourhoods. - Excellent accessibility to Victoria Island's business, leisure and hospitality hubs, enhancing rental and resale prospects. - Suitable plot size (3,000 sqm) affords design flexibility for landscaped setbacks, resident amenities, basement or podium parking, and generous unit layouts. Value Proposition to Developers - Ready Federal C of O reduces title risk and accelerates the transaction. - Attractive land pricing and clearly defined premium structure provide a transparent JV baseline. - High-margin potential through premium product positioning, professional asset management, and targeted marketing to high-income clientele. - Opportunity for a headline-brand development on an island address with significant capital appreciation prospects. Suggested JV Structure (indicative) - Equity split or land-for-equity model with developer undertaking finance, design, construction, sales and marketing. - Premium (N200M) payable as upfront consideration or staged as agreed. - Facilitator fee: 10% guaranteed with imfpa. - Clear timeline for State C of O completion to be agreed and incorporated into the spa/jv terms. Next Steps - Confidential review of site documents and verification of title status. - Feasibility study and preliminary scheme design to determine optimal unit mix, parking strategy and projected GDV. - Preparation of a formal JV term sheet and legal documentation.