Land for Block of Flats

Joint Venture Opportunity -- Lekki Foreshore Estate, Lekki Phase 1, Lagos 1,000 SQM Governor's Consent Title Land Value: ₦1 Billion Proposed: Block of Flats Premium: Nil --- Property & JV Overview

• Location: Lekki Foreshore Estate, Lekki Phase 1, Lagos.
• Land Size: 1,000 SQM.
• Title: Governor's Consent.
• Land Value: ₦1,000,000,000 (≈ ₦1,000,000 per SQM).
• Premium: Nil -- no upfront premium required.
• Proposed Development: Block of Flats.
• Sharing Formula: To be discussed between landowner and developer.
• Facilitator's Fee: Not stated in the brief.
• Status: Vacant land in a secure, prime estate -- ready for joint venture development.

--- Key Highlights

• Prime Lekki Foreshore Estate Address: One of Lekki Phase 1's most desirable gated communities, offering security, planned infrastructure, and proximity to Orange Island and the lagoon.
• Governor's Consent Title: Strong, state-granted title providing legal security and facilitating financing and partnerships.
• No Premium Required: Premium is Nil -- a major advantage that reduces upfront costs for the developer.
• Clear Development Vision: The owner proposes a block of flats -- a well-defined project brief for a mid-rise residential development.
• Optimal Plot Size: 1,000 SQM is ideal for a boutique apartment building with parking and amenities.
• High Demand Location: Lekki Phase 1 continues to attract premium tenants and buyers, ensuring strong rental and resale value.

--- ️ Development Potential

• A modern block of flats -- likely 3--4 storeys with a mix of 2- and 3-bedroom units.
• Estimated Unit Count: 10--16 flats (subject to design and density regulations).
• Amenities: Ground floor parking, lobby, backup power, water treatment, and 24/7 security.
• Target Market: Professionals, expatriates, and families seeking quality accommodation in Lekki Phase 1.

--- Location Benefits -- Lekki Foreshore Estate

• Secure & Serene: Gated estate with controlled access and 24/7 security.
• Proximity to Key Areas: Close to Admiralty Way, Freedom Way, Orange Island, Ikoyi, and Victoria Island.
• Lifestyle Amenities: Near schools, hospitals, shopping centres, restaurants, and leisure spots.
• High Demand: Properties in Lekki Foreshore consistently achieve premium rents and resale values.
• Future Appreciation: Ongoing infrastructure improvements in the Lekki corridor support long-term capital growth.

--- Financial Structure

• Land Contribution Value: ₦1 Billion.
• Premium (Upfront): Nil.
• Developer's Role: Provide 100% of construction financing, project management, and sales/letting.
• Profit Sharing: To be negotiated based on land value vs. total development cost.
• Facilitator's Fee: Not stated -- to be clarified during discussions.

--- Next Steps for Interested Developers Interested developers should submit: 1. Letter of Intent (LOI) -- confirming interest and willingness to discuss JV terms. 2. Company Profile -- with verifiable evidence of residential 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 the proposed block of flats. Due Diligence:

• Upon signing an nda and facilitator fee agreement, the facilitator will provide title documents, survey, and arrange a site inspection.
• Clarify sharing formula and any facilitator fee during negotiations.

Ideal Partner Profile:

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

Lekki Foreshore Estate JV -- 1,000 SQM, Governor's Consent, ₦1B Land Value, Nil Premium, Block of Flats Proposal. Serious developers with capacity and track record only.