Joint Venture Opportunity ---
1,600 sqm
Oba Yesufu Abiodun Way, Oniru Victoria Island
(Alongside City of David Church) ---
C of O
Executive summary
Prime JV opportunity to deliver a high‑end residential development on a 1,600 sqm parcel on Oba Yesufu Abiodun Way, Oniru. The site is titled with a Lagos Certificate of Occupancy and is well positioned within a premium residential corridor. Owner valuation: ₦2.5 billion. The owner invites credible developer proposals for a 7--12 floor luxury apartment scheme with penthouses and premium amenities.
Quick facts
- Location: Oba Yesufu Abiodun Way, Oniru, Victoria Island.
Lagos (same road as City of David Church --- prominent landmark)
- Site area: 1,600 sqm
- Title: Certificate of Occupancy (C of O) --- originals available for verification
- Valuation (owner): ₦2,500,000,000
- Proposed building massing: 7--12 floors (subject to final design and regulatory approvals)
- Product focus: Luxury 2‑bedroom apartments with 2--4 penthouse terrace units; amenity‑led positioning
- Commercial structure: Owner open to well‑structured JV proposals --- sharing ratio to be agreed based on proposal strength
- Facilitator's fee: 10% net (standard)
Investment highlights
- Premium Oniru location with strong demand from high‑net‑worth buyers, corporate tenants and expatriates.
- Large, development‑ready footprint in a controlled residential corridor offering privacy and accessibility.
- C of O title supports bankability and expedites transaction and financing processes.
- Flexible development envelope (7--12 floors) allows optimisation of unit mix, amenity offer and total saleable area to match market appetite.
Recommended development scope
- Tower or low‑rise podium/tower hybrid delivering market‑leading finishes.
- Typical unit mix: predominantly premium 2‑bedroom apartments; optional 1‑bed studios or 3‑bed units on request.
- Penthouses: 2--4 terrace penthouses with private terraces, premium finishes and separate access where feasible.
- Amenities: residents' gym, swimming pool, landscaped terraces, concierge, secure parking, backup power and dedicated service areas.
- Parking & access: design to satisfy Oniru/Lagos planning ratios and optimise resident convenience.
Preferred developer profile
- Proven track record delivering luxury residential projects in Oniru, Victoria Island, Lekki or comparable Lagos sub‑markets.
- Verifiable completion certificates, sales history or lettings evidence.
- Demonstrable proof of funds or committed construction financing.
- Capability to manage statutory approvals, procurement and premium marketing/execution.
Documentation & due diligence checklist
Owner to provide (where applicable):
- Original C of O and title documents for verification
- Survey plan, site coordinates and locality/site photos
- Evidence of rates/tax payments and absence of encumbrances (where available)
Developer to provide:
- Letter of Intent (LOI) and company profile
- Audited accounts, proof of funds or bank/financing commitment
- Recent project references, client contacts and completion evidence
- High‑level concept proposal and indicative programme/financial model
Technical and legal checks recommended:
- Confirmation of C of O and title searches at the Lands Registry
- Site inspection, boundary verification and geotechnical investigations
- Review of planning constraints and allowable FAR/height with relevant authorities
- Utility availability checks (power, water, drainage, telecom) and traffic/access assessment
Indicative commercial notes
- Owner valuation: ₦2.5 billion (basis for JV discussions) --- final commercial terms, premium (if any) and revenue/cost sharing to be agreed following proposal submission and verification.
- Facilitator's fee: standard 10% net of agreed land valuation --- payable as structured in facilitator agreement.
- Owner is receptive to commercial structures that demonstrate swift mobilisation, strong track record and realistic delivery programme.
Procedure --- next steps
1. Submit loi, company profile, proof of funds and a concise concept proposal for initial review.
2. Execute nda to receive full title documents, survey plans and supplementary information.
3. Arrange site inspection and technical due diligence.
4. Present detailed JV proposal (design concept, financial model, construction programme and proposed sharing ratio).
5. Agree Heads of Terms and progress to Joint Development Agreement followed by mobilisation.
Contact
To express interest, submit documents or request a site inspection, contact:[Insert contact name][Insert phone number] [Insert email]
Legal disclaimer
Information provided by the owner/agent. Prospective JV partners must undertake independent legal, technical and financial due diligence and verify title, approvals and any statutory obligations before entering into any agreement. All terms are subject to contract.
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