2000 Sqm Joint Venture Lekki Foreshore Estate, Lekki Phase 1,

Joint Venture Opportunity -- Lekki Foreshore Estate, Lekki Phase 1, Lagos
2,000 SQM C of O Title Land Value: ₦1.8 Billion Premium: ₦80 Million Proposed: Block of Flats 50:50 Sharing

---

Property & JV Overview

- Location: Lekki Foreshore Estate, Lekki Phase 1, Lagos.
- Land Size: 2,000 SQM.
- Title: Certificate of Occupancy (C of O).
- Land Value: ₦1,800,000,000 (≈ ₦900,000 per SQM).
- Premium Fee: ₦80,000,000 (payable immediately upon JV contract signing).
- Proposed Development: Block of Flats (multi-storey residential).
- JV Sharing Formula: 50:50 (landowner : developer).
- Construction Period: 2 years.

---

Key Highlights

- Prime Lekki Foreshore Address: Located within one of Lekki Phase 1's most prestigious gated estates -- known for security, good roads, and proximity to Orange Island and the lagoon.
- Strong C of O Title: Full government‑issued Certificate of Occupancy ensures legal security and bankability.
- Clear JV Terms: The landowner has set non‑negotiable terms -- premium payment, bank guarantee, 50:50 split, and a 2‑year construction timeline. This clarity allows serious developers to evaluate quickly.
- Immediate Premium Payment: ₦80 million due at contract signing -- a sign of commitment and a filter for qualified partners.
- Optimal Scale: 2,000 SQM is ideal for a medium‑density block of flats, offering strong returns without excessive complexity.

---

️ Development Potential

- A modern block of flats -- likely 3‑4 storeys with a mix of 2‑ and 3‑bedroom units.
- Estimated unit count: 20--30 flats (depending on design and estate density regulations).
- Ground floor parking, lobby, backup power, water treatment, and security features.
- Target market: professionals, families, and investors seeking quality rentals or purchases in Lekki Phase 1.

---

Location Benefits -- Lekki Foreshore Estate

- Secure & Serene: 24/7 estate security, paved roads, drainage, and organised layout.
- Proximity to Key Areas: Close to Admiralty Way, Freedom Way, Orange Island, and the Lekki‑Epe Expressway.
- High Demand: Properties in this estate consistently achieve premium rents and resale values.
- Lifestyle Appeal: Near the lagoon, upscale restaurants, and retail outlets.

---

Non‑Negotiable Terms for Developers

The landowner has made these terms clear -- no further discussion unless accepted:

1. Premium Fee: ₦80,000,000 paid immediately upon signing the JV contract.
2. Bank Guarantee: Developer must provide a bank guarantee on funds.
3. Sharing Ratio: 50:50 (landowner : developer).
4. Premium Payment Timing: At contract signing (not after completion).
5. Construction Period: 2 years maximum.

---

Financial Structure

- Land Contribution Value: ₦1.8 Billion.
- Developer's Role: Provide 100% of construction financing, bank guarantee, project management, and sales/letting.
- Profit Sharing: 50% to landowner / 50% to developer, after agreed cost recovery.
- Premium: ₦80 million is in addition to the land value -- effectively increasing the landowner's upfront take.

---

Next Steps for Interested Developers

Qualified developers who accept the terms should:

1. Submit a Letter of Intent (LOI) confirming acceptance of the five terms.
2. Provide proof of funds and ability to issue a bank guarantee.
3. Share company profile with verifiable track record of block‑of‑flats projects in Lekki, VI, or Ikoyi.
4. Prepare for immediate negotiation and contract signing once due diligence is satisfactory.

Due Diligence: Upon expression of interest, the facilitator will arrange site inspection and title document review.

Ideal Partner: A mid‑sized to large real estate developer with proven experience in multi‑storey residential projects, strong liquidity, and ability to provide a bank guarantee.

Terms are clear. Land is prime. Structure is 50:50. Serious developers only -- no tyre‑kickers.