Prime Jv Offering On 8000sqm Of Land At Gracefield Gravita Estate

Listing title
Prime JV Opportunity --- 8,000 sqm Land at Gracefield / Gravita Estate, Chevron (End of Chevron Drive / Beside Northern Foreshore) Lagos State C of O

Overview
Rare, large‑scale joint‑venture parcel on Gracefield / Gravita Estate in the Chevron corridor --- 8,000 sqm positioned at the end of Chevron Drive beside Northern Foreshore Estate. Held on Lagos State Certificate of Occupancy, this waterfront‑edge site is offered for JV development with no upfront premium. The owner invites development partners with strong delivery capacity to propose high‑value residential, mixed‑use or boutique hospitality concepts that suit the premium coastal micro‑market.

Quick facts

- Site area: 8,000 sqm
- Location: Gracefield / Gravita Estate --- End of Chevron Drive, beside Northern Foreshore Estate, Lagos (Chevron waterfront corridor)
- Title: Lagos State Certificate of Occupancy (C of O) --- available for qualified buyer verification
- Asking land value (guide): ₦550,000 per sqm (indicative) --- implied land value ₦4,400,000,000 (₦4.4B)
- Premium: Nil (owner not requesting upfront premium)
- Sharing / JV: Open proposal --- sharing formula to be agreed (owner open to land‑for‑equity structures)
- Facilitator fee: 10% of agreed land value (payable as agreed)

Why this site is compelling

- Strategic waterfront corridor: Gracefield / Gravita area is one of Lagos's most attractive low‑density, high‑value residential and leisure precincts --- strong demand for quality, waterfront‑facing product.
- Size and scale: 8,000 sqm provides development scale suitable for a boutique low‑rise estate, townhouse cluster, small luxury apartment scheme, serviced residences or mixed‑use development with premium amenities.
- Clean title: Lagos State C of O simplifies title verification and transactional confidence for institutional partners (buyer to confirm via legal due diligence).
- No upfront premium: The absence of a premium reduces initial cash outlay and supports stronger project cashflow modelling for developers.

Suitable development concepts

- Luxury waterfront townhouses / terraces (low rise) with private gardens and parking
- Boutique apartment complex / serviced apartments with high‑end amenity offering (pool, gym, concierge)
- Mixed‑use podium: ground‑floor retail / F&B with high‑quality residential units above (subject to planning)
- Small hotel / boutique hospitality with marina‑related leisure facilities (planning dependent)
- Exclusive gated estate or executive villas for HNW individuals

Suggested JV structures (examples)

- Land‑for‑equity: Owner contributes land; developer funds design, approvals and construction; completed units / proceeds shared per agreed equity split.
- Build‑to‑sell: Developer constructs and markets units; net proceeds split after cost recovery.
- Build‑operate‑transfer: Developer operates assets for a defined period (if hospitality/serviced apartments) with agreed revenue share prior to transfer.
- Hybrid: Small development premium + equity share to balance owner and developer cashflow needs.

Commercial & negotiation points

- Guide land valuation: ₦550,000 / sqm (indicative) --- total guide value ₦4.4B (final valuation and fee mechanics to be agreed).
- Facilitator fee: 10% of land value (clarify timing, escrow and payment mechanics in HoT).
- Owner open to discussing sharing formula, developer fee, cost recovery waterfall and marketing/sales responsibilities.

Pre‑qualification & what the owner expects
Prospective development partners should provide:

- Letter of Interest (LOI) with brief proposed JV approach and indicative timelines
- Company profile, RC documents and track record of comparable projects (portfolio & references)
- Proof of financial capacity / bank reference or audited accounts demonstrating ability to fund project phases
- High‑level concept brief (indicative unit mix, density, amenity strategy and commercial model)
- Willingness to agree to confidentiality / NDA prior to receiving full title and technical pack

Due diligence & documents available