Residential land joint venture
Residential land joint venture
Two (2) Luxury Fully Detached Duplexes, Each with a Boys' Quarters (BQ
About this property
Urgent Joint Venture Opportunity -- Ocean Bay Estate, Orchid Road, Lagos 600 SQM Governor's Consent Land Value: ₦400 Million Proposed: 2 Luxury Detached Duplexes with Pools 50:50 Sharing Facilitator's Fee: 10% Net Property & JV Overview
- Location: Ocean Bay Estate, Orchid Road, Lagos.
- Land Size: 600 SQM (Bare land).
- Title: Governor's Consent.
- Land Value: ₦400,000,000.
- Proposed Development: Two (2) Luxury Fully Detached Duplexes, each with a Boys' Quarters (BQ) and a private swimming pool.
- Sharing Ratio: 50/50 (landowner : developer).
- Premium: Developer will only compensate the owner for the existing foundations already on the ground (negotiable).
- Facilitator's Fee: 10% Net.
- Status: Urgent. The owner requires a serious developer to take up this project immediately (today or tomorrow).
The "Ready-to-Build" Advantage This is an incredibly rare, fast-tracked JV opportunity. The landowner has already done the heavy lifting to ensure immediate mobilization: 1. Approvals Secured: Full building approval for the two duplexes is already in place. 2. Foundations Laid: The foundations for both structures are already on the ground. 3. Zero Levies Owed: All estate levies have been fully paid by the landowner. 4. Immediate Mobilization: The developer can move equipment to the site and begin superstructure work immediately, saving months of planning, approval delays, and initial construction costs. Key Highlights
- Massive Time & Cost Savings: Because approvals are secured and foundations are already laid, the developer bypasses the most tedious and capital-intensive early phases of construction.
- High-Value End Product: The proposal for two detached duplexes with BQs and private swimming pools targets the ultra-luxury market in Orchid Road, commanding premium sale or rental prices.
- Strong 50:50 Partnership: A balanced sharing structure, with the developer's upfront cost drastically reduced to just compensating the owner for the existing foundations.
- Prime Estate: Ocean Bay Estate is a highly secure, well-developed, and prestigious gated community.
Development Potential
- Two Ultra-Luxury Detached Duplexes: Spacious 4 or 5-bedroom homes (all en-suite), featuring modern architecture, private pools, and staff quarters.
- Target Market: High-net-worth individuals, returning diaspora, and expatriates looking for luxury living in a secure, well-located estate on Orchid Road.
Location Benefits -- Ocean Bay Estate, Orchid Road
- Prestige & Security: A highly sought-after gated estate with 24/7 security and controlled access.
- Excellent Connectivity: Quick access to the Lekki-Epe Expressway, linking to Ajah, Lekki Phase 1, and Victoria Island.
- Lifestyle Amenities: Proximity to top schools, shopping centres (Novare Mall), hospitals, and leisure spots.
- High Appreciation: Properties in Ocean Bay Estate and the Orchid corridor continue to appreciate rapidly.
Financial Structure
- Land Contribution Value: ₦400 Million.
- Premium (Foundation Compensation): Negotiable amount based on the assessed cost of the existing foundations.
- Developer's Role: Compensate for the foundations, fund the superstructure, finishing, pools, and overall project management.
- Profit Sharing: 50% Landowner / 50% Developer (typically structured as one duplex each upon completion).
- Facilitator's Fee: 10% Net, payable upon JV execution.
Next Steps for Serious Developers This is a highly time-sensitive mandate. The owner is looking to close and start construction immediately. To proceed, interested developers must submit: 1. Letter of Intent (LOI) -- confirming your immediate capacity to take over the project. 2. Proof of Funds -- demonstrating you have the liquidity to fund the construction of the two duplexes from the current foundation level. 3. Company Profile -- with verifiable evidence of similar luxury residential projects completed. Due Diligence & Engagement:
- Because of the urgency, serious developers will be granted an immediate site inspection to see the foundations and existing approvals.
- A physical meeting with the landowner to agree on the foundation compensation and sign the JV agreement.
Ocean Bay Estate, Orchid Road + 600 SQM + Approvals & Foundations Ready + 50:50 Sharing -- an urgent, high-yield, fast-tracked development opportunity. Direct Mandate -- Only developers ready to move to site immediately should apply.
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Area guide — Lekki
Interesting Facts
Did you know Lekki was named after a Portuguese sailor named Mr. Lecqi? I bet you didn’t.
Leisure and Shopping
Lekki has a wide range of shopping opportunities. Do you prefer to shop indoors or outdoors? Whatever you are, Lekki has you covered. With so many malls in the area, shopping in Lekki can be a lot of fun.
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Northern Foreshore Estate, one of the most expensive estates in Lekki, provides an adequate drainage system for its residents. It has been able to curtail the known flooding issues of Lekki environs.
Day Life
Recreational centres...check! Beaches….check! Restaurants…. check! Lekki is unquestionably a one-stop shop for fun and entertainment.
Night Life
Ebony Lounge, Jesse Lounge, Club Mirage, Novato Night Club, and Elysium Night Club are all great places to hang out. You can also party at any of these beach clubs: Mood Beach Club, Wave Beach Club, and Moist Beach Club.
Schools
Schooling in Lekki is definitely not basic. Lekki boasts of having some of the most expensive and best schools in Lagos. The thing about schools in Lekki is that they offer more than just conventional teaching.
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