Mixed-use land joint venture
Freedom Way, Lekki Phase 1, Lekki, Lagos
Joint venture opportunity -- freedom way, lekki phase 1
2,500 sqm deed of assignment 50/50 sharing ratio
land value: ₦2 billion (₦800,000 per sqm)
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property overview
- location: freedom way, lekki phase 1, lagos -- one of the most prestigious and sought-after streets in lekki phase 1, offering seamless connectivity to victoria island, ikoyi, and the wider lekki corridor.
- land size: 2,500 sqm.
- title: deed of assignment (buyer/partner to perfect to governor's consent).
- land value: ₦2,000,000,000.
- price per sqm: ₦800,000.
- jv structure: 50/50 profit sharing between landowner and developer.
- status: bare land, ready for immediate development.
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key highlights
- prime freedom way location: freedom way is a premier address in lekki phase 1, home to luxury residences, corporate offices, and high-end developments. its direct link to the lekki-epe expressway and proximity to victoria island make it a strategic choice for any development.
- substantial scale: 2,500 sqm offers significant flexibility for a landmark project -- rare in this built-up, high-demand location.
- developer-friendly terms: 50/50 sharing with land valued at ₦800,000/sqm provides attractive economics for a well-executed project.
- strong title pathway: while currently on deed of assignment, the path to governor's consent is clear -- a standard process that enhances bankability and value.
- high roi potential: freedom way's prestige and accessibility ensure strong demand for both residential and commercial developments.
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️ development potential
2,500 sqm on freedom way is ideal for:
- luxury apartment block: 20--30 high-end flats across 5--6 floors.
- terrace duplex cluster: 10--12 luxury terrace units.
- mixed-use development: ground-floor retail/offices + residential above (subject to approvals).
- corporate headquarters: flagship office building for a multinational or financial institution.
- boutique hotel: 50--60 rooms with premium amenities.
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jv structure & market context
component details
land contribution 2,500 sqm (valued at ₦2b)
developer role 100% construction funding
sharing ratio 50/50 of completed units/sales
title status deed of assignment -- developer to facilitate governor's consent
per sqm valuation ₦800,000
- per sqm benchmark: freedom way land with good title typically ranges from ₦750,000--₦1.1m/sqm. at ₦800,000/sqm valuation, this offers a fair entry point for a jv partnership.
- jv appeal: 50/50 is a balanced split in this prime micro-market, incentivizing quality development while rewarding landowner contribution.
- scarcity factor: parcels of this size on freedom way are increasingly rare -- most have been developed or subdivided.
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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 developments.
3. proof of funds -- evidence of construction financing capability.
4. site inspection -- physical viewing of the property.
5. development proposal -- preliminary concept, unit mix, financial projections.
6. meeting with owner -- direct negotiation and jv finalization.
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ideal for: established developers seeking a flagship jv opportunity on one of lekki phase 1's most prestigious streets; investors wanting exposure to prime lekki real estate through a partnership model.
a clear 50/50 jv mandate on 2,500 sqm on freedom way, lekki phase 1 -- ready for serious engageme...
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₦2,000,000,000
Ac Valour International
08036503218