Residential land joint venture
Prime 2861SQM of Pristine Land on Offer
Joint Venture Opportunity --- Prime 2,861 sqm Land on Dr. Kennedy Drive, Osapa C of O Quick Facts - Location: Dr. Kennedy Drive, Osapa - Site Area: 2,861 sqm (please confirm if the original figure requires amendment) - Title: Certificate of Occupancy (C of O) - Proposed Scheme: Terrace housing development (detailed design to be agreed) - Land Value: ₦1,000,000,000 (One Billion Naira) - Premium: ₦300,000,000 (Three Hundred Million Naira) - Facilitators' Fee: 10% of the agreed consideration (indicative: ₦100,000,000 based on stated land value) - Transaction: Closer-friendly --- structured for swift completion Why this JV is attractive - Highly sought-after Osapa location with strong residential demand and attractive resale/rental prospects for terrace developments. - Secure, marketable title (C of O) reduces acquisition risk and accelerates contracting. - Competitive pricing and a clearly-stated premium create a straightforward commercial framework for partnership. - Facilitated process and seller readiness support an efficient, low-friction transaction. Proposed development opportunity - Terrace housing units, configured to market demand and local planning parameters --- ideal for mid- to upper-market buyers or investors seeking quick turnover. - Feasibility and unit mix to be finalised in collaboration between the owner and selected developer to optimise yield and compliance. Developer requirements (recommended) - Demonstrable track record in residential developments, preferably within Lekki/Ikoyi/VI corridors or similar high-end Lagos suburbs. - Ability to mobilise funding promptly and execute to a mutually-agreed programme. - Willingness to agree commercial terms including premium and facilitator fee structure. Owner's contributions - Titled land with C of O. - Commercial terms as stated (land value, premium). - Cooperation in securing any additional approvals and handover documentation as required. Financial summary (indicative) - Stated land value: ₦1,000,000,000 - Premium payable: ₦300,000,000 - Facilitators' fee: 10% of the agreed consideration (indicative: ₦100,000,000 based on the stated land value) - Final payment structure and milestones to be agreed in the JV agreement Due diligence & documentation (required) - Original C of O and evidence of ownership --- available for verification - Survey plan and site coordinates --- confirm boundaries on site inspection - Development brief or preliminary concept (if available) --- to be provided by owner/developer - Developer to submit: Loi, company profile, project references, proof of funds and detailed project proposal/programme - Legal searches at the Lands Registry and verification with relevant authorities (recommended) Procedure / Next steps 1. Submit loi, company profile, proof of funds and a brief project proposal. 2. Preliminary vetting and document verification by the owner/agent. 3. Site inspection and meeting to agree commercial and delivery terms. 4. Negotiate and sign Heads of Terms/JV Agreement including payment schedule, responsibilities and timelines. 5. Mobilisation and execution per agreed programme. Note All information provided is by the owner/agent. Prospective partners must perform independent due diligence and obtain professional advice prior to commitment. Terms are subject to contract and may be refined following site verification and negotiation. #ed/atafo
