Residential land joint venture
Ikate, Lekki, Lagos (within A Fully Developed Estate Off Kushenla Road, Ikate, Lekki, Lagos
Joint venture development opportunity -- prime land in ikate, lekki
6,000 sqm fully developed estate off kushenla road land value: ₦5.5 billion proposed: terraces, semi-detached & fully detached homes
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property & jv overview
- location: ikate, lekki, lagos (within a fully developed estate off kushenla road).
- land size: 6,000 sqm.
- land value: ₦5.5 billion (≈ ₦916,667 per sqm).
- title: expected to be c of o / governor's consent (estate land).
- owner's proposal: development of a mix of terraces, semi-detached, and fully detached homes.
- sharing formula: open for discussion based on land contribution vs. development cost.
- facilitator's fee: 10% of land value.
- status: vacant, titled land in a quality estate environment, ready for jv partnership.
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key highlights
- prime ikate location: situated in a fully developed estate off kushenla road, offering security, good roads, and a prestigious address within the lekki growth corridor.
- large-scale development canvas: 6,000 sqm allows for a substantial residential scheme -- ideal for a mixed product offering (terraces, semi-detached, detached).
- clear development vision: the owner has specified the desired housing mix, providing clear direction for feasibility studies and architectural planning.
- flexible jv terms: sharing ratio is open for discussion, allowing a qualified developer to negotiate a fair partnership based on market realities and project costs.
- estate advantage: being within a gated community reduces infrastructure burden (roads, security, layout) and enhances end-user appeal.
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️ development potential
the scale and location lend themselves to a premium residential community:
- terrace homes: 4--6 units per row, offering high density and efficient land use.
- semi-detached duplexes: pairs of luxury homes with shared walls but private amenities.
- fully detached villas: standalone homes for the ultra-luxury segment.
- product mix suggestion (example): 20 terrace units + 10 semi-detached pairs (20 homes) + 4 detached villas -- total ~44 units, subject to estate layout and approvals.
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financial implication
- land contribution value: ₦5.5 billion.
- developer's role: provide 100% construction funding, project management, and sales expertise.
- profit sharing: to be negotiated, typically based on the ratio of land value to total development cost (construction + soft costs + contingency).
- facilitator's fee: 10% of the ₦5.5b land value (₦550m), usually payable from the landowner's share upon jv agreement.
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next steps for qualified developers
submit expression of interest including:
- company profile and track record (especially in estate/mixed residential projects).
- proof of financial capacity for a project of this scale.
- preliminary proposal on product mix and jv structure.
- willingness to sign an agency agreement.
due diligence first steps:
- site inspection and estate verification.
- title search at the lagos state lands bureau.
- feasibility study and preliminary architectural concepts.
ideal partner profile:
- mid-to-large scale residential developer with experience in gated estates.
- strong balance sheet and ability to fund construction.
- proven ability to deliver terraces, semi-detached, and detached homes.
a substantial jv opportunity in a prime ikate estate -- ready for a developer with vision and capaci...
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₦5,500,000,000
Ac Valour International
08036503218