Land joint venture
Oyebajo Street, Off Isaac John, Fadeyi, Shomolu, Lagos
Joint venture opportunity
- opportunity: owner of a clean-titled plot at oyebajo street off isaac john, fadeyi is seeking a capable developer partner to deliver a 2‑storey block of flats under a build--operate--transfer (b.o.t) arrangement.
- title: government consent & registered survey (clear transferable title --- strong for lender acceptance and fast project close-out).
- location strengths: fadeyi (lagos mainland) --- dense residential demand, good access to transport corridors and employment centers, strong rental market for mid‑market flats.
- target investor: a developer with construction & property‑management capability, balance‑sheet or financing relationships, and a track record in small to medium residential projects in lagos.
why this is attractive to a developer / investor
- land provided up front with clean title --- reduces acquisition risk and lowers upfront cash requirement.
- high demand for well‑finished flats in fadeyi from young professionals, civil servants and families --- steady rental income opportunity.
- scalability: site suitable for a 2‑storey walk‑up or low‑rise block of flats with potential to increase value through modest finishes and professional management.
- shorter construction cycle compared with high‑rise projects --- quicker revenue generation and faster payback.
- flexible deal structures (equity split, revenue share or fixed lease payments) to suit developers and financiers.
proposed project overview
- development: 2‑storey block of flats (design options: 6--12 flats depending on plot size and layout; recommend architectural feasibility to maximize yield while adhering to setbacks and parking).
- typical unit mix suggestions (to be refined after site survey): 1‑bed & 2‑bed apartments with provision for common areas, secure parking, generator & water storage.
- use: rental residential (long‑term let) with professional property management during the operating period.
- bot term (suggested): 7--10 years operating period for the developer to operate and recover investment + agreed return, then transfer completed asset back to owner free of encumbrance.
- target finish standard: mid‑market --- durable finishes to attract stable tenants and minimize turnover.
suggested commercial structures (indicative --- negotiable)
1. land-as-equity, developer-finances-construction
- owner contributes land (valued as equity).
- developer funds construction and operates asset for agreed period (e.g., 7 years).
- revenue sharing: developer retains operating cashflow until a pre‑agreed irr or return multiple is achieved, then transfers asset.
2. joint-equity (developer + owner)
- both parties contribute equity (owner = land, developer = cash/loan procurement + management).
- net operating income distributed per equity share during operation; full transfer at term end.
3. fixed lease / concession fee
- developer leases land for fixed annual fee over concession, builds and operates; at end of term, asset transfers to owner.
- attractive for owners wanting predictable cash flows and limited upside sharing.
indicative financial points to include in a term sheet
- construction budget (to be confirmed by contractor quotes and boq after feasibility).
- developer return target (e.g., developer irr or multiple) and investor/owner share mechanics.
- operating cash flow priority (e.g., opex, debt service, developer preferred return, split).
- transfer conditions (state of repair, permitted encumbrances, asset handover checklist).
- performance bonds / completion guarantees.
- insurance, tax, and compliance responsibilities.
developer qualifications sought
- evidence of similar completed residential projects in lagos (photos, addresses, client references).
- proof of construction capacity --- in‑house or reliable contractors and consultants.
- financial capability: audited accounts, bank/financier references, or confirmed construction finance lines.
- regulatory knowledge: lagos approvals, building control, utility connections.
- property management capability or credible partner to lease and operate the flats.
risk mitigation & value protections
- clear title (gov. consent & registered survey) --- reduces ownership risk.
- completion guarantee or escrow arrangements for retention/defect liability.
- third‑party cost and market validations (quantity surveyor and rent studies).
- insurances: car (contractors all‑risk), pi for consultants, full property insurance during operation.
- agreed maintenance/reserve fund to preserve asset value until transfer.
key next steps (recommended)
1. confidentiality: sign an nda to share any further sensitive documents (title docs, site survey).
2. site visit & survey: confirm plot size, setbacks, soil conditions and maximum developable area.
3. concept design & feasibility: architect + qs to prepare a concept plan, boq and budget.
4. term sheet: negotiate bot structure, operating period, revenue sharing and transfer conditions.
5. due diligence: developer & owner legal, technical and financial due diligence.
6. final agreement: execute bot/concession agreement, construction contract and security documents.
7. mobilization & construction: commence once permits and financing are in place.
what i can share immediately (upon your confirmation)
- copies of title documents (gov. consent & registered survey).
- high‑resolution photos of the plot and immediate environs.
- suggested concept layouts for a 2‑storey block (preliminary).
- a draft term sheet for bot partnership for review by developers.
contact: mr. kola adesina (edba)
all detailed documentation and commercial discussions will be provided on a confidential basis and subject to a signed nda.
serious proposals only.
*how we work*
tell us your needs (budget, location, size).
our team reviews your request and assigns a dedicated relationship manager.
we only source conflict-free land and properties with clear titles.
we conduct due diligence and arrange site visits.
viewings are by appointments only
finalize purchase, rental or lease with legal support.
*please feel free to browse our other featured properties
referrals & third party agents: 2.5%-comm
ref: ak...
More details
₦1,000,000
The Build Centre Properties
09028190510
