A Block of Flats Comprising 20 Units of 2-Bedroom and 3-Bedroom Apartm

Joint Venture Opportunity -- Prime Land Facing Freedom Way, Lekki, Lagos 1,080 SQM Governor's Consent Title Land Value: ₦1.8 Billion Premium: ₦100 Million Proposed: 20 Units (2 & 3 Bed Flats) 50:50 Sharing Facilitator's Fee: 10% Property & JV Overview

• Location: Facing Freedom Way, Lekki, Lagos.
• Land Size: 1,080 SQM.
• Title: Governor's Consent (currently in the owner's name).
• Land Value: ₦1,800,000,000 (≈ ₦1.667 Million per SQM).
• Premium: ₦100,000,000 (payable upon JV contract signing).
• Proposed Development: A block of flats comprising 20 units of 2-bedroom and 3-bedroom apartments.
• Sharing Formula: 50:50 (landowner : developer).
• Facilitator's Fee: 10% of land value (₦180 Million), payable upon JV agreement.
• Status: Vacant land, ready for a joint venture development.

Key Highlights

• Prime Freedom Way Frontage: Direct exposure to one of Lekki's most vital and high-traffic arteries, offering excellent visibility and accessibility.
• Clear Development Blueprint: The proposal for 20 units of 2- and 3-bedroom flats is highly realistic for the 1,080 SQM plot, ensuring efficient use of space and strong market appeal.
• Strong Title Security: Governor's Consent provides a solid legal foundation, with a straightforward pathway to perfecting the title for financing and development.
• Balanced 50:50 Partnership: A transparent and equitable sharing structure that aligns the interests of both parties.
• High Rental Demand: Freedom Way and its surrounding environs in Lekki Phase 1 consistently attract professionals, expatriates, and families, ensuring strong rental yields and capital appreciation.

Development Potential The proposed development offers a highly viable residential project:

• Unit Mix: A strategic blend of 2-bedroom and 3-bedroom flats (e.g., 10 units of each, or 12 of 2-bed and 8 of 3-bed).
• Building Structure: A modern 4- or 5-storey mid-rise building.
• Amenities: Ground-level parking, secure lobby, backup power, water treatment, and 24/7 security.
• Target Market: Young professionals, corporate executives, and families seeking premium yet accessible accommodation in Lekki.

Location Benefits -- Freedom Way, Lekki

• Strategic Connectivity: Facing the main road ensures easy access to Admiralty Way, Lekki Phase 1, Victoria Island, and Ikoyi.
• Commercial & Residential Hub: Surrounded by corporate offices, banks, luxury estates, and lifestyle amenities.
• High Visibility: Excellent for branding and an easy landmark for residents and visitors.
• Appreciation Corridor: Land and property values along Freedom Way have demonstrated consistent, long-term growth.

Financial Structure

• Land Contribution Value: ₦1.8 Billion.
• Premium (Upfront): ₦100 Million -- payable to the landowner immediately upon signing the JV contract.
• Developer's Role: Provide 100% of construction financing, project management, and sales/letting.
• Profit Sharing: 50% Landowner / 50% Developer -- after recovery of agreed development costs.
• Facilitator's Fee: 10% of land value (₦180 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 and 50:50 sharing structure. 2. Company Profile -- with verifiable evidence of residential block-of-flats projects completed in Lekki, Victoria Island, or Ikoyi. 3. Proof of Funds -- bank statements or financing letters demonstrating capacity to fund a project of this scale (estimated construction cost ₦600M -- ₦900M+). 4. Preliminary Concept Note -- initial design, unit mix, and timeline aligned with the 20-unit proposal. Due Diligence:

• Upon signing an nda and facilitator fee agreement, the facilitator will provide the Governor's Consent document, survey, and arrange a site inspection.
• Verification of the title at the Lagos State Lands Bureau.

Ideal Partner Profile:

• A reputable real estate development firm with a proven track record in mid-rise residential projects.
• Strong financial capacity and ability to fund construction without sole reliance on off-plan sales.

Freedom Way, Lekki JV -- 1,080 SQM, 20 Units Proposed, ₦1.8B Land Value, ₦100M Premium, 50:50 Sharing. A highly viable and transparent partnership opportunity. Direct mandate -- serious developers with capacity and track record only.