Land joint venture
3,511 SQM (Bare Land) .
Joint Venture Development Opportunity -- Ikate-Lekki, Lagos 3,511 SQM Bare Land Governor's Consent Land Value: ₦850k per SQM (₦2.984 Billion Total) Open Sharing & Premium Facilitator's Fee: 10% Property & JV Overview - Location: Ikate-Lekki, Lagos. - Land Size: 3,511 SQM (Bare land). - Title: Governor's Consent. - Land Value: ₦850,000 per SQM. - Total Proposed Land Value: ₦2,984,350,000 (≈ ₦2.984 Billion). - Proposal: Open development proposal. The landowner has a strong preference for a modern, contemporary block of flats. A high-rise residential development may also be considered, subject to feasibility, planning regulations, and statutory approvals. - Sharing Ratio: Open for discussion and mutual agreement between the landowner and developer. - Premium: TBD (To Be Determined). - Facilitator's Fee: 10% of the proposed land value. - Status: Direct mandate. Bare land ready for a landmark partnership. Key Highlights - Massive Institutional-Scale Parcel: Over 3,500 SQM of contiguous land in the highly sought-after Ikate-Lekki corridor is exceptionally rare. This scale allows for a master-planned, high-density development with extensive amenities. - Strong Title Security: Governor's Consent provides a robust legal foundation, ensuring a smooth path for securing building approvals and institutional financing. - High-Rise Potential: The landowner's openness to a high-rise development (subject to approvals) presents a massive opportunity for a developer to maximize the yield per square meter and overall roi. - Flexible JV Terms: Both the sharing ratio and the premium are open to negotiation. This allows a qualified developer to structure a mutually beneficial deal based on actual construction costs and projected returns. - High Rental & Resale Demand: Ikate is a vibrant, fast-appreciating residential and commercial hub in Lekki, guaranteeing strong demand from young professionals, expatriates, and families. Development Potential Given the massive scale and the landowner's vision, the land is perfectly suited for: - Contemporary Block of Flats: A modern, multi-block residential estate with premium 2- and 3-bedroom apartments. - High-Rise Residential Tower: A landmark 10+ storey building offering panoramic views and luxury amenities (pool, gym, concierge). - Mixed-Use Development: Residential blocks with a dedicated commercial frontage (retail, offices) to serve the bustling Ikate community. - Gated Terrace Community: A high-density, secure cluster of luxury terrace duplexes. Location Benefits -- Ikate-Lekki - Strategic Growth Corridor: Ikate is one of the most dynamic and rapidly developing areas in the Lekki axis, offering excellent connectivity to Lekki Phase 1, Victoria Island, and Ikoyi. - Lifestyle & Convenience: Surrounded by top schools, hospitals, supermarkets, restaurants, and leisure spots. - High Traffic & Visibility: Easy access to major roads ensures high visibility for commercial components and convenience for residents. - Future Appreciation: Land and property values in Ikate continue to appreciate steadily due to high demand and limited supply. Financial Structure - Land Contribution Value: ₦2.984 Billion. - Developer's Role: Provide 100% of construction financing, project management, and execution. - Profit Sharing: Open -- to be negotiated based on the final development cost and roi. - Premium: TBD -- to be agreed upon during negotiations. - Facilitator's Fee: 10% of land value (≈ ₦298.4 Million), typically paid from the landowner's share upon JV execution. Next Steps for Qualified Developers The landowner is strictly seeking competent, financially capable, and reputable developers with a proven track record of successfully executing similar high-value residential developments. To proceed, interested developers must submit: 1. Letter of Intent (LOI) -- expressing interest and outlining your proposed development concept (Block of flats vs. High-rise). 2. Company Profile -- with verifiable evidence of large-scale residential projects completed. 3. Proof of Funds -- demonstrating the financial capacity to fund a development of this magnitude. 4. Proposed JV Structure -- your suggested sharing formula, premium offer, and timeline to kickstart negotiations. Due Diligence & Engagement: - Upon signing an nda, the survey plan and site documents will be shared. - A formal meeting with the landowner will be arranged for serious developers to discuss terms and conduct a site inspection. Ikate-Lekki + 3,511 SQM + Governor's Consent + High-Rise Potential + Flexible JV Terms -- a strategic, high-yield development opportunity for serious builders. Direct Mandate -- Serious, qualified developers only.
