653 SQM Off Freedom Way

Joint Venture Opportunity -- Off Freedom Way / Kusenla Road, Ikate, Lekki, Lagos 653 SQM Corner Piece (Dry & Fenced) Elegushi Deed & C of O Title Land Value: ₦653M Refundable Premium: ₦50M 55/45 Sharing Facilitator's Fee: 8% Net Property & JV Overview

• Location: Off Freedom Way (accessible via Kusenla Road), Ikate, Lekki, Lagos. A highly developed, prime location.
• Land Size: 653 SQM.
• Plot Type: Corner piece, dry, and fully fenced. Facing a major road.
• Title: Elegushi Deed & Certificate of Occupancy (C of O) in the landowner's name.
• Land Value: ₦1,000,000 per SQM (Total: ₦653,000,000).
• Proposed Development:
• A modern block of flats on Ground + 5 floors.
• Total 12 units:

• 1 unit of 3-bedroom flat with BQ (front).

• 2 units of 2-bedroom flats (back) per floor configuration.
• Note: Layout implies maximizing the corner piece for light and space.
• Sharing Formula: 55% Developer / 45% Landowner (A highly developer-favorable split).
• Premium: ₦50 Million Refundable (To be deducted from the landowner's equity/share).
• Facilitator's Fee: 8% Net (per mandate).

Key Highlights

• Developer-Favourable 55/45 Split: An excellent sharing ratio that rewards the developer's capital and execution risk with the majority share.
• Refundable Premium: The ₦50M premium is deducted from the landowner's equity, meaning the developer effectively recovers this upfront cost upon project completion or sales.
• Corner Piece & Fenced: Dual road access, maximum natural light, and immediate security, saving initial site preparation costs.
• Reduced Facilitator's Fee: At 8% Net, the transaction cost is optimized compared to the standard 10%.
• Dual Access: Accessible via both Freedom Way and Kusenla Road, ensuring excellent connectivity and traffic flow.
• Strong Documentation: Elegushi Deed + C of O provides a solid, verified legal foundation.

Development Potential

• Ground + 5 Floors: A 6-level structure (including ground floor for parking/amenities and 5 residential floors).
• Unit Mix: Highly optimized for the Ikate rental market (2-bed and 3-bed with BQ).
• Target Market: Young professionals, expatriates, and families seeking secure, modern accommodation in a prime Lekki location.

Location Benefits -- Ikate, Lekki

• Well-Developed Neighborhood: Surrounded by premium estates, banks, restaurants, and leisure spots.
• Strategic Connectivity: Minutes from Lekki Phase 1, the Lekki-Epe Expressway, and Victoria Island.
• High Rental Demand: Ikate consistently yields premium rental returns due to its proximity to the business districts.
• Corner Piece Advantage: Enhances the architectural footprint and street presence of the development.

Financial Structure

• Land Contribution Value: ₦653 Million.
• Premium: ₦50 Million (Refundable from Owner's Share).
• Developer's Role: Provide 100% of construction financing, project management, and execution.
• Profit Sharing: 55% Developer / 45% Landowner (post-recovery of construction costs and premium).
• Facilitator's Fee: 8% Net, payable upon JV execution.

Next Steps for Qualified Developers The mandate requires the following documents to proceed: 1. Letter of Intent (LOI) -- Confirming interest and acceptance of the terms. 2. Development Proposal -- Initial concept/design aligning with the 12-unit block of flats proposal. 3. Company Profile -- With verifiable evidence of similar residential projects completed. Due Diligence & Engagement:

• Upon review of your documents and signing an nda, survey plans and site inspection will be arranged with the landowner.

Ikate, Lekki + 653 SQM Corner Piece + C of O & Deed + 55/45 Split + Refundable ₦50M Premium -- an exceptional, developer-friendly JV opportunity. Direct Mandate -- Serious developers only.