Listing title
prime 10‑storey luxury residential tower (26 units) ---
14 turnbull road, onikoyi
2,000 sqm
land value ₦3,000,000/sqm
overview
direct instruction: immediate joint‑venture opportunity to deliver a landmark 10‑storey luxury residential tower on a substantial 2,000 sqm parcel at 14 turnbull road, onikoyi, lagos. the development concept delivers 24 high‑quality 2‑ and 3‑bedroom apartments (each with bq) plus 2 exclusive penthouses, with resident amenities including pool, fully equipped gym, communal lounge and modern reception. the owner seeks a financially strong developer / equity partner or financier to complete design, approvals and construction.
quick facts
- opportunity type: joint venture / development partnership (land for equity / profit share)
- location: 14 turnbull road, onikoyi, lagos (prestigious island address)
- land area: 2,000 sqm
- current land value: ₦3,000,000 per sqm (indicative)
- proposed scheme: 10‑storey tower --- 24 x 2/3‑bed apartments (each with boys' quarter) + 2 penthouses = 26 units total
- facilities / amenities: swimming pool, fully equipped gym, modern reception/waiting area, communal lounge and games room
- facilitator fee: 10% of agreed land value (payable as agreed)
why this project is compelling
- prime ikoyi/onikoyi micro‑market with strong demand for high‑spec, secure residential product from expatriates, corporate executives and premium owner‑occupiers.
- large single parcel (2,000 sqm) allows efficient footprint, provision for on‑site parking and generous amenity space --- superior positioning for luxury mid‑rise product.
- a 10‑storey format maximises value per sqm while respecting island planning sensitivities; penthouses add a premium product tier.
- early mover advantage: high barrier to entry for new premium product in onikoyi; attractive for developers able to mobilise and deliver to tight timelines.
owner / offer
- owner invites proposals from experienced developers, institutional investors and credible financiers for a land‑for‑equity jv or other development finance structures.
- owner is open to commercial structures that fairly reflect land value, development risk and capital contribution.
suggested commercial structures (examples)
- land‑for‑equity: owner contributes land (valued at ₦3m/sqm) in return for an equity stake in completed units or net profits (proposed profit share to be negotiated).
- equity/debt split: developer equity plus mezzanine financing; investor receives fixed return with equity kicker.
- build‑and‑transfer or long‑lease operate model: developer builds, operates or markets, with transfer or revenue share on agreed terms.
- forward sale / pre‑sale allocation for some units to anchor investors to de‑risk finance.
what the developer / investor must demonstrate
- proven track record delivering high‑rise or premium residential projects in lagos (project references and completion evidence).
- financial capacity: proof of funds, bank reference or confirmed financing facility to cover construction cost and pre‑development expenses.
- technical capacity: in‑house or contracted design/engineering teams, approved contractor partnerships and project management capability.
- governance readiness: willingness to operate under clear jv governance, escrowed receipts or milestone drawdown mechanisms.
documents & disclosures (available on request)
- land title documentation and site plan (owner to provide certified copies for qualified parties)
- high‑level concept brief and indicative massing (technical package available to shortlisted partners)
- preliminary site constraints and planning notes (initial feasibility)
- existing due diligence reports (where available) --- to be shared on nda
recommended due diligence items (investor checklist)
- verify land title and chain of ownership with solicitor; confirm any encumbrances or covenants.
- commission site survey, topography and geotechnical investigation.
- confirm planning/zoning constraints: allowable coverage, setbacks, maximum height and parking requirements with lagos planning authorities.
- review mep capacity and utility connection points (power, water, sewage).
- independent cost‑to‑complete estimate and market sales/letting comparables.
- contractor prequalification and independent qs review for milestone drawdown schedule.
governance & risk mitigation (recommended)
- heads of terms / mou to set profit waterfall, cost recovery, developer fee and unit allocation prior to full jv agreement.
- escrow/retention of sales proceeds or milestone‑based release governed by independent qs certifications.
- clear dispute resolution, exit mechanisms and warranty/defect liability provisions.
- insurances: construction all‑risk, public liability and professional indemnity for consultants.
how to express interest / next steps
1. submit a formal letter of interest (loi) including: company profile, rc documents, summary of relevant projects, high‑level proposed jv structure and proof of funds / bank reference.
2. on receipt of satisfactory loi the owner/facilitator will request an nda and release the project pack (title copies, concept drawings, site plan).
3. shortlisted developers invited for site inspection and meeting to review the concept and commercial terms.
4. negotiate heads of terms and proceed to formal jv agreement and mobilisation.
contact / submissions
to submit loi or request the project pack, contact:
the build centre properties ltd (facilitator)email: [email protected]: +234 708 056 2616 +234 814 455 0891
confidentiality & qualification
this opportunity is for serious, pre‑qualified developers and investors only. full documentation will be released following loi, proof of funds and an executed nda. the owner reserves the right to shortlist and select the preferred partner at their discretion.
disclaimer
all information provided is for initial marketing and discussion purposes only. figures and proposals are indicative and subject to contract, negotiation and due diligence. prospective partners must undertake independent legal, technical and financial verification prior to commitment.
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: ef...
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