Joint Venture Property in Fadeyi, Shomolu, Lagos

Joint venture opportunity - opportunity: owner of a clean-titled plot at oyebajo street off isaac john, fadeyi is seeking a capable developer partner to deliver a 2‑storey block of flats under a build--operate--transfer (b.o.t) arrangement. - title: government consent & registered survey (clear transferable title --- strong for lender acceptance and fast project close-out). - location strengths: fadeyi (lagos mainland) --- dense residential demand, good access to transport corridors and employment centers, strong rental market for mid‑market flats. - target investor: a developer with construction & property‑management capability, balance‑sheet or financing relationships, and a track record in small to medium residential projects in lagos. why this is attractive to a developer / investor - land provided up front with clean title --- reduces acquisition risk and lowers upfront cash requirement. - high demand for well‑finished flats in fadeyi from young professionals, civil servants and families --- steady rental income opportunity. - scalability: site suitable for a 2‑storey walk‑up or low‑rise block of flats with potential to increase value through modest finishes and professional management. - shorter construction cycle compared with high‑rise projects --- quicker revenue generation and faster payback. - flexible deal structures (equity split, revenue share or fixed lease payments) to suit developers and financiers. proposed project overview - development: 2‑storey block of flats (design options: 6--12 flats depending on plot size and layout; recommend architectural feasibility to maximize yield while adhering to setbacks and parking). - typical unit mix suggestions (to be refined after site survey): 1‑bed & 2‑bed apartments with provision for common areas, secure parking, generator & water storage. - use: rental residential (long‑term let) with professional property management during the operating period. - bot term (suggested): 7--10 years operating period for the developer to operate and recover investment + agreed return, then transfer completed asset back to owner free of encumbrance. - target finish standard: mid‑market --- durable finishes to attract stable tenants and minimize turnover. suggested commercial structures (indicative --- negotiable) 1. land-as-equity, developer-finances-construction - owner contributes land (valued as equity). - developer funds construction and operates asset for agreed period (e.g., 7 years). - revenue sharing: developer retains operating cashflow until a pre‑agreed irr or return multiple is achieved, then transfers asset. 2. joint-equity (developer + owner) - both parties contribute equity (owner = land, developer = cash/loan procurement + management). - net operating income distributed per equity share during operation; full transfer at term end. 3. fixed lease / concession fee - developer leases land for fixed annual fee over concession, builds and operates; at end of term, asset transfers to owner. - attractive for owners wanting predictable cash flows and limited upside sharing. indicative financial points to include in a term sheet - construction budget (to be confirmed by contractor quotes and boq after feasibility). - developer return target (e.g., developer irr or multiple) and investor/owner share mechanics. - operating cash flow priority (e.g., opex, debt service, developer preferred return, split). - transfer conditions (state of repair, permitted encumbrances, asset handover checklist). - performance bonds / completion guarantees. - insurance, tax, and compliance responsibilities. developer qualifications sought - evidence of similar completed residential projects in lagos (photos, addresses, client references). - proof of construction capacity --- in‑house or reliable contractors and consultants. - financial capability: audited accounts, bank/financier references, or confirmed construction finance lines. - regulatory knowledge: lagos approvals, building control, utility connections. - property management capability or credible partner to lease and operate the flats. risk mitigation & value protections - clear title (gov. consent & registered survey) --- reduces ownership risk. - completion guarantee or escrow arrangements for retention/defect liability. - third‑party cost and market validations (quantity surveyor and rent studies). - insurances: car (contractors all‑risk), pi for consultants, full property insurance during operation. - agreed maintenance/reserve fund to preserve asset value until transfer. key next steps (recommended) 1. confidentiality: sign an nda to share any further sensitive documents (title docs, site survey). 2. site visit & survey: confirm plot size, setbacks, soil conditions and maximum developable area. 3. concept design & feasibility: architect + qs to prepare a concept plan, boq and budget. 4. term sheet: negotiate bot structure, operating period, revenue sharing and transfer conditions. 5. due diligence: developer & owner legal, technical and financial due diligence. 6. final agreement: execute bot/concession agreement, construction contract and security documents. 7. mobilization & construction: commence once permits and financing are in place. what i can share immediately (upon your confirmation) - copies of title documents (gov. consent & registered survey). - high‑resolution photos of the plot and immediate environs. - suggested concept layouts for a 2‑storey block (preliminary). - a draft term sheet for bot partnership for review by developers. contact: mr. kola adesina (edba) all detailed documentation and commercial discussions will be provided on a confidential basis and subject to a signed nda. serious proposals only. *how we work* tell us your needs (budget, location, size). our team reviews your request and assigns a dedicated relationship manager. we only source conflict-free land and properties with clear titles. we conduct due diligence and arrange site visits. viewings are by appointments only finalize purchase, rental or lease with legal support. *please feel free to browse our other featured properties ref: ak...