Mixed-use land joint venture
Twin Towers of Mixed Development (Preferably 80% Residential, 20% Offi
Joint Venture Opportunity -- Prime Land in Victoria Island, Lagos 5,146 SQM Plots C & E (Fenced Bare Plots) Lagos C of O Title Land Value: ₦15.5 Billion Proposed: Twin Towers Mixed-Development 50:50 Sharing (Negotiable) Facilitator's Fee: 7% Property & JV Overview - Location: Victoria Island, Lagos (Plots C and E -- Fenced Bare Plots). - Land Size: 5,146 SQM. - Title: Lagos State Certificate of Occupancy (C of O). - Land Value: ₦15,500,000,000 (≈ ₦3.01 Million per SQM). - Proposed Development: Twin Towers of Mixed Development (preferably 80% Residential, 20% Office Accommodation). - Developer Flexibility: The landowner is open to alternative developer proposals with high roi. - Sharing Formula: 50:50 (Landowner is open to "reasonable" negotiation). - Facilitator's Fee: 7% of current land value (Net) -- approximately ₦1.085 Billion. Key Highlights - Massive Institutional-Scale Parcel: 5,146 SQM of contiguous land in Victoria Island is exceptionally rare. This scale allows for a landmark development with significant architectural presence and extensive amenities. - Prime Victoria Island Address: The epicenter of Lagos's corporate, diplomatic, and luxury lifestyle sectors. A VI address guarantees maximum prestige, visibility, and tenant demand. - Flexible and Negotiable JV Terms: While a 50:50 split is proposed, the landowner's willingness to negotiate the sharing formula and consider alternative development proposals makes this a highly attractive and collaborative partnership opportunity. - Strong Lagos C of O Title: Full government-issued Certificate of Occupancy ensures legal security, bankability, and smooth structuring for a high-value JV. - Reduced Facilitator Fee: At 7% (compared to the standard 10%), the transaction cost is optimized for the developer. Development Potential The landowner's preferred proposal is a Twin Towers Mixed-Development, but they are open to options that maximize roi: - Twin High-Rise Towers: E.g., one tower dedicated to luxury residential apartments (80%) and the other to Grade-A commercial offices (20%). - Luxury Residential Condominiums: High-spec 2-, 3-, and 4-bedroom apartments with premium amenities. - Mixed-Use Complex: Ground-floor retail, multiple office floors, and residential sky-penthouses. - Branded Residences / Serviced Apartments: Partnering with an international hospitality brand to elevate value. Target Market: Multinational corporations, high-net-worth individuals, expatriates, and international investors. Location Benefits -- Victoria Island - Commercial & Diplomatic Hub: Proximity to major banks, embassies, corporate headquarters, and the Nigerian Stock Exchange. - Gateway to Eko Atlantic: Positioned to benefit from the ongoing development of Lagos's new city. - Excellent Infrastructure: Reliable power, water, security, and a well-maintained road network. - Unmatched Connectivity: Easy access to Ikoyi, Lagos Island, and the Lekki-VI link bridge. Financial Structure - Land Contribution Value: ₦15.5 Billion. - Developer's Role: Provide 100% of construction financing, project management, and sales/letting. - Profit Sharing: 50% Landowner / 50% Developer (Negotiable). - Facilitator's Fee: 7% Net of land value (≈ ₦1.085 Billion), payable upon JV execution. Next Steps for Qualified Developers Interested developers must submit: 1. Letter of Intent (LOI) -- expressing interest and confirming ability to fund and execute a project of this scale. 2. Company Profile -- with verifiable evidence of luxury high-rise or large-scale mixed-use projects completed in prime locations (VI, Ikoyi, Banana Island). 3. Proof of Funds -- bank statements or financing letters demonstrating capacity for a multi-billion naira construction project (estimated ₦35B -- ₦50B+). 4. Preliminary Concept Note -- initial design thoughts (either adopting the Twin Towers proposal or an alternative high-ROI vision) and proposed negotiation points for the sharing formula. Due Diligence: - Upon signing an nda and Facilitator Fee Agreement, title documents (C of O), survey plans, and site access will be provided. Ideal Partner Profile: - Top-tier real estate development firm with a proven track record in large-scale, luxury projects. - Strong balance sheet and access to institutional construction finance. - Visionary developers capable of executing iconic twin towers. Victoria Island JV -- 5,146 SQM, C of O, Twin Towers Proposal, 50:50 Sharing (Negotiable), 7% Facilitator Fee. A landmark opportunity for developers with proven capacity. Serious inquiries only -- direct mandate.
