Residential land for sale
Residential Land
Property Details Location: Lekki Phase 1, Lagos Property Type: Joint Venture Development Opportunity Land Size: 2,000 SQM Title: Certificate of Occupancy (C of O) Transaction: Joint Venture Property Value: ₦2,000,000,000 Premium: ₦100,000,000 Net Sharing Ratio: 50/50 --- stated as non-negotiable Proposed Development: 40 Units of 2-Bedroom Luxury Apartments Stated Development Period: 20 Months Facilitator Fee: 10% Development Proposal The proposed joint venture involves a 2,000 SQM landholding in Lekki Phase 1 with a stated proposal for the development of 40 units of 2-bedroom luxury apartments. The stated development period is 20 months, while the proposed sharing ratio is 50/50 and stated as non-negotiable. These development parameters should be treated as the terms and proposal provided for the opportunity and should be independently reviewed through technical, planning, legal and financial due diligence before execution of a binding agreement. Zahari View This is a development-focused joint venture opportunity in Lekki Phase 1 involving a substantial 2,000 SQM landholding. The stated ₦2 billion property value, ₦100 million net premium and 10% facilitator fee should all be incorporated into the developer's project feasibility assessment. The proposed 40-unit scheme and 20-month development timeline also require detailed technical and commercial review. A developer should establish whether the proposed density, building configuration, parking, infrastructure and other development requirements are permissible and achievable within the applicable planning framework. The 50/50 sharing arrangement is stated as non-negotiable and should be clearly documented in the final joint venture agreement, including each party's obligations, funding responsibilities, development rights, unit allocation, timelines, default provisions and exit arrangements. Property Highlights 2,000 SQM development site. Located in Lekki Phase 1. C of O stated. Proposed 40 units of 2-bedroom luxury apartments. Proposed development period of 20 months. 50/50 sharing ratio. Sharing ratio stated as non-negotiable. Property value of ₦2 billion. ₦100 million net premium. 10% facilitator fee. Developer track record and financial capacity required. Developer Requirement The opportunity is intended for a developer with demonstrated experience in completed developments within Lekki, Victoria Island or Ikoyi. The developer should be able to demonstrate: Strong track record of completed projects. Technical capacity to execute the proposed development. Financial capacity to fund the project. Relevant development and construction experience. Ability to meet applicable planning and regulatory requirements. Capacity to execute the proposed development within the agreed framework. Why This Opportunity Deserves Attention The 2,000 SQM landholding provides a substantial site for the proposed residential development concept. However, the viability of the opportunity should be determined through a complete development appraisal rather than the proposed unit count alone. The developer should independently assess land value, premium, facilitator fee, construction costs, professional fees, statutory charges, financing, infrastructure, sales assumptions, project timeline and the obligations of both parties under the proposed 50/50 structure. Developer's Perspective Before committing to the joint venture, the developer should confirm: Exact land location and boundaries. Authenticity and status of the C of O. Ownership and authority to enter the JV. Survey plan. Permitted land use. Development density. Maximum building height. Setbacks and site coverage. Parking requirements. Planning approvals required. Infrastructure requirements. Proposed 40-unit configuration. Development cost. Funding requirements. Proposed 20-month timeline. 50/50 sharing mechanics. Property value. ₦100 million premium. 10% facilitator fee. Each party's financial and non-financial obligations. Exit and default provisions. Investment & Development Perspective a joint venture structure should be evaluated based on the economics of the entire project. The developer should prepare a detailed feasibility model covering acquisition-related costs, premium, facilitator fee, construction, professional fees, statutory charges, financing, marketing, infrastructure and contingencies. The proposed 40 units should also be tested against current market demand and achievable sales or rental values. The stated 20-month development period should be assessed against planning approvals, construction programme, procurement, financing and other project dependencies. Joint Venture Note The parties should ensure that the final agreement clearly defines: Land contribution. Development contribution. Funding responsibilities. Sharing ratio. Unit allocation or proceeds distribution. Project management responsibilities. Construction obligations. Approval responsibilities. Development timeline. Default provisions. Dispute-resolution mechanism. Exit provisions. Sale or disposal arrangements. Completion obligations. All material terms should be reviewed by appropriate legal, planning, financial and technical professionals before execution. Documentation Prospective developers should request and review: C of O. Survey plan. Evidence of ownership. Seller/landowner authority. Land registry search. Planning and land-use information. Development proposal. Feasibility information. Existing architectural or conceptual plans, where available. Proposed JV agreement. Full financial obligations. Premium and facilitator fee terms. Evidence supporting the stated property value. Property Intelligence Beyond the Listing The central question for this opportunity is whether the proposed 40-unit development can be legally approved and commercially delivered within the stated structure and timeline. A serious developer should therefore conduct a technical feasibility assessment, planning review, construction-cost appraisal and financial model before committing. The proposed terms should also be documented in a professionally prepared JV agreement that clearly protects the interests and responsibilities of both parties. Property Value ₦2,000,000,000 Premium ₦100,000,000 Net Sharing Ratio 50/50 --- stated as non-negotiable Facilitator Fee 10% For Enquiries & Inspections +234 907 301 3359 www.zaharihub.com Zahari Properties ...Points in the right direction. Disclaimer: Property information contained in this listing is based on the details provided and should be independently verified. The title, ownership, land size, proposed development, planning parameters, development period, property value, premium, facilitator fee and JV terms are subject to independent verification and formal documentation. Prospective developers should complete legal, planning, technical and financial due diligence before entering into any agreement.
