1,026 Sqm Joint Venture Opportunity -- Lekki Foreshore Estate, Lekki

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 flats.