Land joint venture
Mixed Use Development Land of 966.50SQM
Joint venture opportunity --- MIXED-Use Development Site, gbagada 2, lagos An opportunity is available to partner on the development of a 966.50 sqm rectangular-shaped mixed-use parcel in Gbagada 2, Lagos. The preferred concept is a premium residential development with ground-floor parking and resident amenities. Land Details - Land size: 966.50 sqm - Shape: Rectangular - Location: Gbagada 2, Lagos - Title: Certificate of Occupancy (C of O) and registered Deed of Assignment Preferred Development Concept a block of approximately 12--16 luxury residential flats, incorporating ground-floor parking and suitable amenities. The final design and unit count are subject to the developer's feasibility assessment and planning approvals. Commercial Terms - Land value: ₦1.2 billion - Premium: ₦100 million, slightly negotiable - Facilitators' fee: 10% of the land value (₦120 million), non-negotiable - Proposed JV sharing: 50/50 Indicative Unit Allocation The landowner has proposed a development of 14 units, with 8 units allocated to the developer and 6 units to the landowner. This allocation should be discussed and confirmed by both parties, as it differs from an equal 50/50 split by unit count. Next Steps Interested developers are requested to submit a Letter of Intent (LOI) and a fee letter confirming the 10% facilitators' fee. Upon receipt, a meeting can be arranged to discuss the proposal and next steps. All commercial terms, development details, and allocations remain subject to due diligence, feasibility, and formal agreement between the parties.
