Land of 669 SQM

Joint Venture Opportunity -- Itedo Estate, Off Freedom Way, Lekki, Lagos 669 SQM C of O & Deed of Assignment Land Value: ₦1.2M per SQM Premium & Ratification: ₦100M Sharing: 60/40 Proposed: Block of Flats Facilitator's Fee: 10% Property & JV Overview Location: Itedo Estate, off Freedom Way, Lekki, Lagos. Land Size: 669 SQM. Title: Certificate of Occupancy (C of O) & Deed of Assignment -- dual documentation for strong legal backing. Land Value: ₦1,200,000 per SQM. Total Land Value: ₦802,800,000 (≈ ₦802.8 Million). Premium & Ratification: ₦100,000,000 (payable upon JV contract signing). Proposed Development: Block of Flats (multi-storey residential). Sharing Formula: 60/40 (landowner : developer). Facilitator's Fee: 10% of land value (≈ ₦80.28 Million), payable upon JV agreement. Key Highlights Prime Lekki Location: Itedo Estate, off Freedom Way, is a well-developed residential area in Lekki, offering security, good roads, and proximity to major amenities. Strong Dual Title: C of O + Deed of Assignment provides a high level of ownership security and facilitates financing and partnerships. Clear Development Vision: The owner seeks a block of flats -- a well-defined project brief for developers. Premium & Ratification: ₦100M upfront ensures a serious, well-capitalised development partner. Favourable Sharing Ratio: 60/40 in favour of the landowner reflects the value of the titled land in a prime location. Existing Structure: The image shows an existing building on the land, which may be demolished or incorporated into the new development (to be clarified during due diligence). Development Potential A modern block of flats -- likely 3--4 storeys with a mix of 2- and 3-bedroom units. Estimated Unit Count: 8--12 flats (subject to design and density regulations). Amenities: Ground floor parking, lobby, backup power, water treatment, and 24/7 security. Target Market: Professionals, families, and investors seeking quality rental or ownership in Lekki. Location Benefits -- Itedo Estate, Off Freedom Way Secure & Serene Environment: Gated estate with controlled access and organised layout. Proximity to Key Destinations: Minutes from Admiralty Way, Lekki Phase 1, Ikoyi, and Victoria Island. Established Neighbourhood: Surrounded by quality homes, schools, and commercial outlets. High Demand: Properties in this area consistently achieve premium rents and resale values. Financial Structure Land Contribution Value: ₦802.8 Million. Premium & Ratification (Upfront): ₦100 Million -- payable to landowner upon JV contract signing. Developer's Role: Provide 100% of construction financing, project management, and sales/letting. Profit Sharing: 60% Landowner / 40% Developer -- after recovery of agreed development costs. Facilitator's Fee: 10% of land value (≈ ₦80.28 Million), typically paid from the landowner's share upon JV execution. Next Steps for Qualified Developers Interested developers must submit: 1. Letter of Intent (LOI) -- confirming interest and acceptance of the premium payment and 60/40 sharing. 2. Company Profile -- with verifiable evidence of block-of-flats or residential projects completed in Lekki, VI, or Ikoyi. 3. Proof of Funds -- bank statements or financing letters showing capacity for a project of this scale. 4. Preliminary Concept Note -- initial design and timeline aligned with the proposed block of flats. Due Diligence: Upon signing an nda and facilitator fee agreement, the facilitator will provide the C of O, Deed of Assignment, survey, and arrange a site inspection. Clarify the status of the existing structure and its impact on the development plan. Ideal Partner Profile: A reputable real estate development firm with a proven track record in residential projects. Strong financial capacity and ability to fund construction without sole reliance on off-plan sales. Itedo Estate, Lekki -- 669 SQM, C of O + Deed, ₦100M premium, 60/40 sharing, 10% facilitator fee. Serious developers with capacity and track record only.