Land For Residential Purpose
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Property Description
Investment Opportunity: Land for Sale/JV in Ikate by Verita Terrace
We are pleased to present a prime land opportunity for sale or joint venture (JV) in the desirable Ikate area, adjacent to Verita Terrace. This property offers significant potential for development and investment.
Property Details:
- Location: Ikate, beside Verita Terrace
- Land Size: 2,411 square meters
- Price: ₦1.5 billion (can be sold in half)
- Title: Global Certificate of Occupancy (C of O)
- Proposed Development: 50 apartments plus penthouses
- Timeline for Development: 24 months
Joint Venture Pre-Conditions:
- Land Value for JV: ₦1.7 billion
- Developer Responsibilities: The developer will be responsible for building approval processing and all associated fees.
- Land Owner Responsibilities: The land owner will cover the costs for governor consent processing and all related fees.
Financial Structure:
- Upfront Purchase: Buy 3 units upfront with a 50% payment upon signing, and the balance upon completion of the foundation.
- Proof of Funds Required: ₦1.5 billion
- Profit Sharing Ratio:
- Land Owner: 40%
- Developer: 60%
- Signing Bonus: ₦75 million
Explore Our Featured Properties:
We encourage you to browse our selection of other featured properties, each offering unique investment opportunities tailored to meet your needs.
For further inquiries or to discuss this exciting opportunity in detail, please do not hesitate to contact us. We look forward to partnering with you on this promising venture in Ikate.
Property Details
| Property Ref: 2939936 | Last Updated: 26 Jun 2025 | Market Status: Available |
| Type: Land | Bedrooms: 100 |
Interesting Facts
Because of its proximity to popular destinations and attractions in Lagos, Ikate is a very interesting neighbourhood. It is also a popular destination for celebrities and businesses.
Leisure and Shopping
Ikate has just the right number and variety of markets and malls to make your shopping experience as easy and enjoyable as possible. Lekki Arts and Crafts Market, Pearl Market, The Lennox Mall, Blenco African Market, Itedo Market, and Elegushi Modern Market are among the markets and malls to visit.
Popular Estates
There are numerous good estates in Ikate to choose from, all of which offer its residents a peaceful living environment. Brown State Lekki Estate, Abiola Court 6 Estate, Richmond Gate Estate, SpringVille Estate, Horizon Court Estate, Haven home, Spring Bay Estate, and Vintage Park Estate are just a few examples.
Day Life
Despite being primarily a residential neighbourhood, Ikate has a good number of recreational and entertainment options. Leisure sports park, Kos Lagos, Family affairs plaza, Bambooka, Komfort Wellness Place, Hungrybelly restaurant, Stories Lounge, and Upbeat bites are some of these locations.
Read the full area guide for Ikate, Lekki, Lagos.
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Disclaimer
The information displayed about this property comprises a property advertisement. Nigeria Property Centre makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Nigeria Property Centre has no control over the content. This property listing does not constitute property particulars.The information is provided and maintained by The Build Centre Properties. Nigeria Property Centre shall not in any way be held liable for the actions of any agent and/or property owner/landlord on or off this website.
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21 Mojidi Street, Ikeja, Lagos, Nigeria
0902 XXXX Show Phone
+2347049744444
Registered 11 months ago
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