Residential land joint venture
Lekki Foreshore Estate, Off Freedom Way, Lekki Phase 1, Lekki, Lagos
Joint venture opportunity -- lekki foreshore estate, lekki
1,026 sqm lagos c of o land value: ₦1 billion (₦974,658 per sqm)
proposal: block of flats (g+3) 50/50 sharing ratio
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property overview
- location: lekki foreshore estate, off freedom way, lekki phase 1, lagos -- a prestigious waterfront-adjacent residential enclave offering serenity, security, and proximity to lekki's best amenities.
- land size: 1,026 sqm.
- title: lagos state certificate of occupancy (c of o) -- the highest form of title security in nigeria.
- land value: ₦1,000,000,000.
- price per sqm: ₦974,658.
- jv structure: 50/50 profit sharing between landowner and developer.
- proposal: block of flats (ground + 3 floors) -- optimized for this prime location.
- status: bare land, ready for immediate development.
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key highlights
- prime lekki foreshore location: one of lekki phase 1's most exclusive neighborhoods, offering quiet, secure living with easy access to freedom way, chevron, victoria island, and the lekki-epe expressway.
- superior title security: lagos c of o provides absolute ownership certainty -- bankable, transferable, and ready for jv financing without title perfection concerns.
- optimal development scale: 1,026 sqm is perfectly sized for a g+3 block of flats -- maximizing density while maintaining quality and livability.
- developer-friendly terms: 50/50 sharing with land valued at ₦974,658/sqm offers attractive economics for a well-executed flat project.
- clear proposal: landowner is open to a block of flats -- a proven product type in this high-demand rental and sales market.
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️ development potential -- block of flats (g+3)
1,026 sqm in lekki foreshore is ideal for:
- luxury apartment block: ground + 3 floors of high-end flats.
- estimated built-up area: approx. 3,000--3,500 sqm (depending on design and floor plates).
- unit mix potential:
- 2-bedroom flats
- 3-bedroom flats (duplex-style or single-level)
- select penthouses on top floor
- estimated unit count: 12--18 luxury flats, depending on unit sizes and configuration.
- amenities: secure parking, gym, concierge, landscaped courtyard.
- target market: young professionals, expatriates, corporate tenants, and downsizing executives seeking luxury rental accommodation in a prime lekki location.
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jv structure & market context
component details
land contribution 1,026 sqm (valued at ₦1b)
developer role 100% construction funding
sharing ratio 50/50 of completed units/sales
title status lagos c of o (perfected)
per sqm valuation ₦974,658
proposed development block of flats (g+3)
- per sqm benchmark: lekki foreshore land with c of o typically ranges from ₦900,000--₦1.2m/sqm. at ₦974,658/sqm valuation, this is competitively positioned.
- title premium: lagos c of o provides maximum security and bankability -- a significant advantage over deed of assignment jvs.
- jv appeal: 50/50 is a balanced split in this micro-market, incentivizing quality development while rewarding landowner contribution.
- rental & sales demand: lekki foreshore commands premium rents and sales prices due to its exclusivity and proximity to key employment hubs.
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next steps for interested developers
1. letter of intent (loi) -- express interest and capacity.
2. company profile -- demonstrate track record in luxury flat developments.
3. proof of funds -- evidence of construction financing capability.
4. site inspection -- physical viewing of the property.
5. development proposal -- detailed concept, unit mix, floor plans, financial projections.
6. meeting with owner -- direct negotiation and jv finalization.
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ideal for: established developers seeking a well-located jv opportunity in lekki phase 1's most desirable residential enclave, with perfected c of o title and a clear focus on luxury flat development.
a prime 1,026 sqm c of o parcel in lekki foreshore -- ready for a 50/50 jv partnership to deliver a landmark g+3 block of luxury fla...
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₦1,000,000,000
Ac Valour International
08036503218