Uncompleted Block Of 32 Residential Units On Offer

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JV Opportunity --- Complete & Operate 32‑Unit Apartment Project (Carcass) --- Katampe Main, Abuja
3,200 sqm
C of O ---
JV Completion or Outright Sale ₦2.7B

Opportunity overview: A strategically located partially completed residential project in Katampe Main is available for immediate partnership. The structural carcass (load‑bearing structure, cores, staircases and slabs) is in place for 32 apartments (mix of 2‑ and 3‑bed units) on a 3,200 sqm site with clean Certificate of Occupancy (C of O). The owner requires a capital partner to complete internal finishes, MEP and commissioning to bring the scheme to market.

Reason for JV / saleWork on the project stalled after the owner exhausted development funds. The owner is open to:

- Joint‑Venture (preferred): partner to provide completion funding, technical delivery and marketing in exchange for an agreed profit/share; or
- Outright sale: the owner will accept a straight purchase at ₦2,700,000,000.

Quick facts

- Product: 32 units (2‑bed & 3‑bed mix) --- structural carcass in place
- Site area: 3,200 sqm
- Title: Certificate of Occupancy (C of O) --- available for verification
- Location: Katampe Main, Abuja --- high demand residential neighbourhood
- Asking outright sale price: ₦2,700,000,000
- Facilitator / agency fee: 5% (payable as agreed in HoT)

Why this is attractive

- Significant time & cost advantage: structural works completed --- buyer/developer avoids major early‑stage civil costs and long lead items.
- Rapid path to cashflow: finishing and commissioning can be completed far quicker than greenfield development.
- Scale: 32 units deliver portfolio‑level rental income immediately after completion.
- Market: Katampe Main commands steady rental demand from professionals and institutions.

What the owner seeks in a JV partner

- Proven developer or institutional investor with demonstrated delivery of residential/apartment projects in Nigeria (portfolio & references required).
- Immediate demonstrated financial capacity (proof of funds / bank reference / committed financing).
- Strong project management, contracting relationships and sales/letting capability.
- Willingness to operate under clear JV governance and escrowed milestone funding.

Suggested JV structures (examples, negotiable)

- Land‑for‑equity: Owner contributes land & carcass; developer funds completion. Profit split after cost recovery (examples: 60:40 / 65:35 developer:owner --- to be negotiated).
- Developer equity + profit share: Developer invests X% of completion cost in return for an agreed share of completed units / profits.
- Build‑operate‑share: Developer completes project, operates for agreed period and shares net operating income with owner before final split.
- Outright purchase option: Owner accepts ₦2.7B for full sale if a JV is not agreed.

Indicative partner requirements & deliverables

- Provide detailed cost‑to‑complete and programme within 7--14 days post data room access.
- Mobilise funding and contractors on agreed milestones; use certified QS for drawdown certification.
- Complete MEP, internal finishes and statutory certifications, deliver snagging and commissioning.
- Lead sales/letting and asset management or appoint an experienced operator.

Due diligence (recommended)
Legal & title

- Verify C of O and chain of ownership; check for encumbrances and any outstanding statutory obligations.

Technical & site

- Full condition & structural report (roof, columns, slabs).
- MEP audit (electrical, plumbing, drainage, HVAC readiness).
- Geotechnical confirmation if further structural works planned.
- Cost‑to‑complete and independent QS estimate.

Commercial & market

- Local market comparables for sales and rentals; pro‑forma operating model.
- Sales/letting strategy and proposed exit timing for developer/investor.

Process & next steps

1. Submit an Expression of Interest (EOI) including company profile, relevant project references and proof of funds.
2. Execute NDA receive data room (title, structural photos/reports, stage report, snag list).
3. Shortlisted parties inspect site and commission technical/QS reviews.
4. Present formal JV proposal and financial plan; negotiate Heads of Terms (HoT) including facilitator fee (5%).
5. Execute JV Agreement and mobilise per agreed milestones; or proceed to outright purchase if preferred.

Contact & qualification
Serious developers and institutional partners only. To request the data pack or submit an EOI, contact:

[Facilitator / Agent Name]The Build Centre Properties LtdEmail: [email protected]: +234 708 056 2616 +234 814 455 0891

Note on outright purchaseIf your interest is in buying the carcass outright, the owner will accept offers --- current asking price for a full purchase is ₦2,700,000,000. Please indicate purchase interest in your EOI.

DisclaimerAll information is provided in good faith. Prospective partners must carry out independent legal, technical and financial due diligence. Final terms will be agreed in the Heads of Terms and formal legal documentation.

Ref: Smart