1,527 Sqm Land - Mixed Use

JOINT VENTURE OPPORTUNITY -- MIXED USE, BANANA ISLAND, IKOYI, LAGOS
1,527 SQM C of O (Governor's Consent) 10--12 Floors Luxury Apartments
Land Value: ₦6.87 Billion Premium: ₦100 Million 50/50 Sharing

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Property Overview

- Location: Banana Island, Ikoyi, Lagos (Mixed-Use Zone).
- Land Size: 1,527 SQM.
- Title: Certificate of Occupancy (with Governor's Consent).
- Land Value: ₦6,871,500,000 (₦4,500,000 per SQM).
- Proposed Development: 10--12 Floors Luxury Apartments comprising:
- 2-Bedroom Apartments
- 3-Bedroom Apartments
- 4-Bedroom Apartments
- Maisonettes
- Penthouses
- Premium: ₦100,000,000 (payable to landowner).
- Sharing Ratio: 50/50 (between landowner and developer).
- Broker Fee: 10% of Land Value (₦687,150,000).

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Key Highlights

- Ultimate Banana Island Address: Lagos's most exclusive waterfront enclave, offering unparalleled prestige, security, and luxury living.
- Mixed-Use Zone Advantage: Flexibility for commercial and residential components---ideal for maximizing returns.
- Strong Title: C of O with Governor's Consent provides bankable security for JV financing.
- Premium Development Potential: 10--12 floors allow for iconic skyline presence with high-value unit mix.
- Clear JV Terms: 50/50 sharing; ₦100M premium is modest relative to land value and development upside.
- Structured Process: LOI, company profile, POF, and comprehensive proposal required---ensuring only serious, capable developers proceed.

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️ JV Structure

Party Contribution Sharing
Landowner Land (C of O title, valued at ₦6.87B) 50% of completed units/sales
Developer ₦100M Premium + 100% Construction Funding 50% of completed units/sales

- Facilitator's Fee: 10% of land value (₦687M) payable upon successful transaction closure.

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Market Context

- Per SQM Valuation: At ₦4.5M/SQM, this land is positioned at the premium tier of Banana Island---justified by location, mixed-use zoning, and high-rise approval potential.
- Comparable Context: Recent Banana Island land transactions range from ₦4M--₦6M/SQM depending on waterfront access and zoning.
- Development Upside: Luxury apartments in Banana Island command top-tier pricing (₦150M--₦500M+ per unit), with strong demand from Nigeria's elite and international buyers.

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️ Development Potential

A 10--12 floor luxury development on this site could yield:

- Total Units: Approx. 20--30 high-value apartments (mix of 2BR, 3BR, 4BR, maisonettes, penthouses).
- Target Market: Ultra-high-net-worth Nigerians, diaspora buyers, expatriates, diplomatic corps.
- Estimated GDV (Gross Development Value): ₦10B--₦15B+, depending on final design and market conditions at completion.

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JV Procedure

1. Letter of Intent (LOI) -- Express serious interest and capacity.
2. Company Profile -- Submit credentials, portfolio, and track record.
3. Site Inspection -- Physical viewing of the property.
4. Comprehensive Proposal -- Detailed development plan, financial projections, and timeline.
5. Proof of Funds (Mandatory) -- Demonstrate financial capacity for premium and construction.
6. Meeting with Owner -- Direct negotiation and alignment.
7. Closure -- Finalize JV agreement and commence.

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Ideal For: Established developers with proven luxury high-rise experience, strong balance sheets, and a track record of delivering premium projects in Ikoyi or similar markets.

Serious and capable developers only. This is a landmark Banana Island opportunity---DM for further engagement.