Land joint venture
Coker Road, Ilupeju, Lagos
Joint‑venture opportunity ---
coker road, ilupeju
1,090 sq.yd (~915 sqm)
land value ₦850,000,000 ---
developer jv (16--24 x 3‑bed luxury flats)
overviewdirect jv instruction: prime inner‑city development parcel on coker road, ilupeju offered for a closeable joint venture with an experienced developer. the owner proposes delivery of 16--24 luxury 3‑bedroom apartments (subject to design & approvals). this is a live, 100% closeable jv --- the owner is ready to meet credible developers immediately.
quick facts
- location: coker road, ilupeju, lagos
- land size: 1,090 sq.yd (approx. 915 sqm)
- land value: ₦850,000,000
- proposed scheme: 16 to 24 units of 3‑bed luxury flats (final unit count to follow feasibility & planning)
- premium: ₦30,000,000 (to be recouped in the sharing formula)
- facilitator's fee: ₦50,000,000 (payable per agreed heads of terms)
- agreement fee: ₦10,000,000 (indicative legal/agreement fee)
- title: available on request (to be provided to qualified parties for verification)
- status: owner ready to engage and meet serious developers --- jv described as 100% closeable
why this jv is compelling
- inner‑city location: ilupeju/coker road provides strong catchment for mid‑to‑high end residential product serving professionals and executives.
- optimal scale: plot size supports a quality mid‑rise apartment block with efficient unit mix and amenity space.
- speed to market: owner is motivated and prepared to advance to heads of terms quickly with qualified partners.
- value creation: developer benefits from land equity contribution and can optimise returns by delivering finished product to market.
suggested development concept
- luxury 3‑bedroom apartment product (16--24 units) with contemporary finishes, secure parking, standby power, water storage and communal amenities (gym/communal lounge / generator house).
- options: single block or two linked blocks, with ground‑floor retail/servicing where planning permits to enhance income.
what the owner expects from a partner
- proven developer or institutional investor with relevant lagos apartment delivery track record.
- demonstrable financing (proof of funds or committed facilities) to complete the project.
- ability to manage approvals, contractor procurement and sales/letting channels.
- willingness to adopt transparent jv governance and agreed milestone funding structure.
commercial mechanics (to be agreed)
- premium: ₦30m --- to be recouped from project receipts per agreed waterfall.
- facilitator fee: ₦50m (non‑negotiable) --- payable by developer/owner as set out in hot.
- agreement fee: ₦10m (indicative legal/administration fee).
- sharing formula: open for negotiation --- owner will consider common structures (land‑for‑equity, profit share, or hybrid models). exact split, cost recovery rules and developer fee to be set in heads of terms.
due diligence & documents
- title & survey: certified title documents, survey and site plan available to qualified parties on request.
- technical: shortlisted partners to commission site inspection, geotechnical & topographic surveys and independent qs cost‑to‑complete.
- planning: confirm permitted coverage, setbacks and parking with lagos state planning authority; developer to propose final massing subject to approvals.
- financial: developer to provide high‑level pro‑forma, funding plan and evidence of financial capacity.
process & next steps (recommended)
1. submit a concise letter of interest (loi) with company profile, relevant project examples and proof of funds.
2. on qualification the owner/facilitator issues an nda and certified title pack.
3. site inspection and technical assessment by shortlisted partners.
4. developer submits a jv proposal (commercial structure, timeline, funding & delivery plan).
5. negotiate heads of terms (capture premium recoupment, facilitator fee payment mechanics, sharing waterfall and milestones).
6. execute formal jv agreement and mobilise per agreed milestones.
contact & registration
owner and facilitator will meet serious developers immediately. to express interest, request the title pack or arrange a site visit, submit your loi to:
[facilitator / agent]the build centre properties ltdtel: +234 708 056 2616 +234 814 455 0891email: [email protected]
notes & confidentiality
- this opportunity is offered semi‑direct; full documentation released to pre‑qualified parties only (loi, proof of funds and nda required).
- all information is provided in good faith and subject to verification. final terms to be agreed in heads of terms and formal legal documentati...
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₦850,000,000
The Build Centre Properties
09028190510