Joint Venture: Strategically Located 1090sqm Of Development Land On Offer, Coker Road, Ilupeju, Lagos (Ref: 3135069)

Strategically Located 1090sqm Of Development Land On Offer

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Property Description

Joint‑Venture Opportunity ---
Coker Road, Ilupeju
1,090 sq.yd (~915 sqm)
Land Value ₦850,000,000 ---
Developer JV (16--24 x 3‑Bed Luxury Flats)

OverviewDirect JV instruction: Prime inner‑city development parcel on Coker Road, Ilupeju offered for a closeable Joint Venture with an experienced developer. The owner proposes delivery of 16--24 luxury 3‑bedroom apartments (subject to design & approvals). This is a live, 100% closeable JV --- the owner is ready to meet credible developers immediately.

Quick facts

- Location: Coker Road, Ilupeju, Lagos
- Land size: 1,090 sq.yd (approx. 915 sqm)
- Land value: ₦850,000,000
- Proposed scheme: 16 to 24 units of 3‑bed luxury flats (final unit count to follow feasibility & planning)
- Premium: ₦30,000,000 (to be recouped in the sharing formula)
- Facilitator's fee: ₦50,000,000 (payable per agreed Heads of Terms)
- Agreement fee: ₦10,000,000 (indicative legal/agreement fee)
- Title: Available on request (to be provided to qualified parties for verification)
- Status: Owner ready to engage and meet serious developers --- JV described as 100% closeable

Why this JV is compelling

- Inner‑city location: Ilupeju/Coker Road provides strong catchment for mid‑to‑high end residential product serving professionals and executives.
- Optimal scale: Plot size supports a quality mid‑rise apartment block with efficient unit mix and amenity space.
- Speed to market: Owner is motivated and prepared to advance to Heads of Terms quickly with qualified partners.
- Value creation: Developer benefits from land equity contribution and can optimise returns by delivering finished product to market.

Suggested development concept

- Luxury 3‑bedroom apartment product (16--24 units) with contemporary finishes, secure parking, standby power, water storage and communal amenities (gym/communal lounge / generator house).
- Options: single block or two linked blocks, with ground‑floor retail/servicing where planning permits to enhance income.

What the owner expects from a partner

- Proven developer or institutional investor with relevant Lagos apartment delivery track record.
- Demonstrable financing (proof of funds or committed facilities) to complete the project.
- Ability to manage approvals, contractor procurement and sales/letting channels.
- Willingness to adopt transparent JV governance and agreed milestone funding structure.

Commercial mechanics (to be agreed)

- Premium: ₦30m --- to be recouped from project receipts per agreed waterfall.
- Facilitator fee: ₦50m (non‑negotiable) --- payable by developer/owner as set out in HoT.
- Agreement fee: ₦10m (indicative legal/administration fee).
- Sharing formula: open for negotiation --- owner will consider common structures (land‑for‑equity, profit share, or hybrid models). Exact split, cost recovery rules and developer fee to be set in Heads of Terms.

Due diligence & documents

- Title & survey: certified title documents, survey and site plan available to qualified parties on request.
- Technical: shortlisted partners to commission site inspection, geotechnical & topographic surveys and independent QS cost‑to‑complete.
- Planning: confirm permitted coverage, setbacks and parking with Lagos State planning authority; developer to propose final massing subject to approvals.
- Financial: developer to provide high‑level pro‑forma, funding plan and evidence of financial capacity.

Process & next steps (recommended)

1. Submit a concise Letter of Interest (LOI) with company profile, relevant project examples and proof of funds.
2. On qualification the owner/facilitator issues an NDA and certified title pack.
3. Site inspection and technical assessment by shortlisted partners.
4. Developer submits a JV proposal (commercial structure, timeline, funding & delivery plan).
5. Negotiate Heads of Terms (capture premium recoupment, facilitator fee payment mechanics, sharing waterfall and milestones).
6. Execute formal JV Agreement and mobilise per agreed milestones.

Contact & registration
Owner and facilitator will meet serious developers immediately. To express interest, request the title pack or arrange a site visit, submit your LOI to:

[Facilitator / Agent]The Build Centre Properties LtdTel: +234 708 056 2616 +234 814 455 0891Email: [email protected]

Notes & confidentiality

- This opportunity is offered semi‑direct; full documentation released to pre‑qualified parties only (LOI, proof of funds and NDA required).
- All information is provided in good faith and subject to verification. Final terms to be agreed in Heads of Terms and formal legal documentation.
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.
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Property Details

Property Ref: 3135069Last Updated: 07 Oct 2025Market Status: Available
Type: LandTotal Area: 1,090 sqm   

Interesting Facts

Are you aware that Indians dominate Ilupeju? This is why the area is known as "Indian Village." They are drawn to Ilupeju because it is a well-planned, tranquil, and structured community. The blend of Indian and Nigerian cultures has made the Ilupeju region more pleasant, warm, and welcoming throughout time.

Leisure and Shopping

Ilupeju inhabitants have easy access to shopping centres and groceries. SPAR, the well-known supermarket chain, has an outlet nearby. Zartech Limited sells frozen food like Chicken and Fish. Other places to shop for home supplies are Bazaar Supermarket and Number 1 Supermarket.

Popular Estates

Ilupeju has become one of the most tranquil and pleasant communities in Lagos as a result of the mix of Indians and Nigerians that live there. You may feel confident that living in Ilupeju will be a delight. Popular estates to select from include Ilupeju Gardens Estate, Pearl Estate, Illupeju Court, and Ilupeju Industrial Estate.

Day Life

Ilupeju has a plethora of fun activities and locations to visit for its citizens. Shodex Garden and Olotunda Park are both excellent places to unwind. Zaika Ilupeju Indian and Chinese Restaurant specialises in delectable cuisine. Dodan Warriors Basketball Court is readily available to sports enthusiasts.

Night Life

If you are a nightcrawler, you will enjoy the atmosphere, the food, the beverages, and so much more at places like Captains Bar, Bar Enclave, Big Joe Bar, and Salt 'N' Pepper Gold Lounge in Ilupeju.

Schools

Ilupeju is a calm and serene environment; be certain that the schools here are more than conducive to your child’s learning. Enrol your kids in popular schools like Treasure House School, Awesome College, Amville School, Temple Schools, Halcyon International School, Little Saints Montessori School and The Indian Language School.

Read the full area guide for Ilupeju, Lagos.

Interested in this property?

Call 0902 XXXX Show Phone
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