890 SQM Land

Joint Venture Opportunity -- Omorire Johnson, Lekki Phase 1, Lagos 890 SQM C of O Title Proposed: Luxury Block of 2/3 Bed Apartments Land Value: ₦1.9 Billion Premium: ₦100M Facilitator's Fee: 10% Property & JV Overview Location: Omorire Johnson, Lekki Phase 1, Lagos. Land Size: 890 SQM. Title: Certificate of Occupancy (C of O). Proposed Development: Owner seeks a Luxury Block of 2/3 Bedroom Apartments. Land Value: ₦1,900,000,000 (≈ ₦2.13 Million per SQM). Premium: ₦100,000,000 (payable upon JV contract signing). Facilitator's Fee: 10% of land value (₦190 Million), payable upon JV agreement. Status: Vacant, titled land ready for a partnership development. Key Highlights

• Prime Lekki Phase 1 Address: Omorire Johnson is a highly desirable, serene street in the heart of Lekki Phase 1 -- offering prestige, security, and proximity to Admiralty Way and major business hubs.
• Strong C of O Title: Full government-issued Certificate of Occupancy ensures legal security, bankability, and smooth partnership structuring.
• Clear Development Vision: The owner has specified a luxury block of 2/3 bedroom apartments -- providing a defined starting point for architectural design and feasibility studies.
• Upfront Premium: ₦100M payable at contract signing -- ensures a commitment from a serious, well-capitalized developer.
• Optimal Plot Size: 890 SQM is ideal for a boutique mid-rise apartment building, maximizing unit yield without excessive complexity.

Development Potential

• A modern block of luxury apartments -- likely 3--4 storeys with a mix of 2- and 3-bedroom units.
• Estimated Unit Count: 8--12 luxury flats (subject to design and density regulations).
• Typical Amenities: Ground floor parking, lobby, backup power, water treatment, and 24/7 security.
• Target Market: Professionals, expatriates, and families seeking upscale rental or ownership in Lekki Phase 1.

Location Benefits -- Omorire Johnson, Lekki Phase 1

• Secure & Serene Environment: Low traffic, well-paved roads, and 24/7 security presence -- a hallmark of Lekki Phase 1.
• Proximity to Key Destinations: Minutes from Admiralty Way, Ikoyi, Victoria Island, and major commercial hubs.
• Established Neighbourhood: Surrounded by luxury homes, embassies, and executive residences.
• High Demand: Properties in this area consistently achieve premium rents and resale values.

Financial Structure

• Land Contribution Value: ₦1.9 Billion.
• Premium (Upfront): ₦100 Million -- payable to landowner immediately upon signing the JV contract.
• Developer's Role: Provide 100% of construction financing, project management, and sales/letting.
• Profit Sharing: To be negotiated (typically based on land value vs. total development cost).
• Facilitator's Fee: 10% of land value (₦190 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. 2. Company Profile -- with verifiable evidence of luxury apartment projects completed in Lekki, Victoria Island, 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 a luxury block of 2/3 bed apartments. Due Diligence: Upon signing an nda and facilitator fee agreement, the facilitator will provide the C of O, survey, and arrange a site inspection. Ideal Partner Profile

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

Omorire Johnson, Lekki Phase 1 -- 890 SQM, C of O, ₦100M premium, 10% facilitator fee. Serious developers with capacity and track record only.