Luxury 2 & 3 Bedroom Flats Development Land

Waterfront Joint Venture Opportunity -- Lekki Phase 1, Lagos 1,556.508 SQM Wole Olateju Crescent, Off Admiralty Way, Lekki Phase 1 Land Value: ₦3 Billion Proposed: Luxury 2 & 3 Bedroom Flats 50:50 Sharing Facilitator's Fee: 10% Property & JV Overview

• Location: Wole Olateju Crescent, Off Admiralty Way, Lekki Phase 1, Lagos.
• Land Size: 1,556.508 SQM.
• Title: To be verified (C of O / Governor's Consent expected for Lekki Phase 1).
• Land Value: ₦3,000,000,000 (≈ ₦1.927 Million per SQM).
• Premium: None stated.
• Proposed Development: Luxury flats -- 2-bedroom and 3-bedroom units.
• Sharing Formula: 50:50 (landowner : developer).
• Facilitator's Fee: 10% of land value (₦300 Million), payable upon JV agreement.
• Status: Waterfront land, ready for a joint venture development.

Key Highlights

• Prime Waterfront Location: Wole Olateju Crescent is a prestigious street off Admiralty Way in Lekki Phase 1, offering waterfront access and proximity to the lagoon.
• High-Value Address: Lekki Phase 1 is one of Lagos's most sought-after residential districts, known for luxury living, security, and strong rental demand.
• Clear Development Vision: The proposal for luxury 2- and 3-bedroom flats aligns perfectly with the high-end market in this area.
• Balanced 50:50 Sharing: Transparent and equitable partnership structure -- landowner and developer share profits equally.
• No Premium Mentioned: Unlike many JVs, there is no upfront premium specified -- potentially reducing initial costs for the developer.
• Optimal Size for Luxury Development: 1,556.508 SQM provides ample space for a boutique mid-rise apartment building with amenities and parking.

Development Potential

• Luxury Apartment Block: A modern, mid-rise building (e.g., 4--6 floors) comprising 2- and 3-bedroom flats.
• Waterfront Features: Potential for units with lagoon views, landscaped gardens, and recreational amenities.
• Estimated Unit Count: 20--30 flats (subject to design and density regulations).
• Amenities: Ground floor parking, lobby, gym, pool, backup power, water treatment, and 24/7 security.
• Target Market: High-net-worth individuals, corporate executives, expatriates, and families seeking upscale living in Lekki Phase 1.

Location Benefits -- Wole Olateju Crescent, Lekki Phase 1

• Waterfront Serenity: Quiet, tree-lined street with lagoon access and scenic views.
• Proximity to Admiralty Way: One of Lekki's main arteries -- easy access to banks, restaurants, and commercial hubs.
• Central Connectivity: Minutes from Victoria Island, Ikoyi, and the Lekki-Epe Expressway.
• High Demand Area: Lekki Phase 1 consistently attracts premium tenants and buyers, ensuring strong rental and resale value.
• Secure Environment: 24/7 security, well-maintained roads, and quality infrastructure.

Financial Structure

• Land Contribution Value: ₦3 Billion.
• Premium (Upfront): None stated.
• 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 (₦300 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 50:50 sharing structure. 2. Company Profile -- with verifiable evidence of luxury apartment projects completed in Lekki Phase 1, Victoria Island, or Ikoyi. 3. Proof of Funds -- bank statements or financing letters showing capacity for a project of this scale (estimated construction cost ₦1.5B -- ₦2.5B+). 4. Preliminary Concept Note -- initial design and timeline aligned with the luxury 2- and 3-bedroom flats proposal. Due Diligence:

• Upon signing an nda and facilitator fee agreement, the facilitator will provide title documents, survey, and arrange a site inspection.
• Waterfront status and access rights to be verified.

Ideal Partner Profile:

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

Lekki Phase 1 Waterfront JV -- 1,556.508 SQM, Land Value ₦3B, 50:50 Sharing, 10% Facilitator Fee. Serious developers with capacity and track record only.