Residential land joint venture
Lekki Foreshore Estate, Off Freedom Way, Lekki Phase 1, Lekki Phase 1, Lekki, Lagos
Direct mandate: joint venture opportunity
lekki foreshore, off freedom way, lekki phase 1
2,000 sqm deed of assignment 50/50 sharing ratio
land value: ₦1.7 billion (₦850,000 per sqm)
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property overview
- location: lekki foreshore estate, off freedom way, lekki phase 1, lagos -- a prestigious waterfront-adjacent residential enclave.
- land size: 2,000 sqm.
- title: deed of assignment (buyer/partner to perfect to governor's consent).
- land value: ₦1,700,000,000.
- price per sqm: ₦850,000.
- jv structure: 50/50 profit sharing between landowner and developer.
- status: bare land, ready for development.
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key highlights
- prime lekki foreshore location: one of lekki phase 1's most exclusive neighborhoods, offering serene, secure living with proximity to freedom way, chevron, and major lekki arteries.
- substantial scale: 2,000 sqm provides significant flexibility for a landmark development -- rare in this established locale.
- developer-friendly terms: 50/50 sharing with land valued at ₦850,000/sqm offers attractive economics for a well-executed project.
- waterfront adjacent: proximity to the foreshore enhances property values and desirability.
- clear jv path: direct mandate from landowner -- streamlined negotiation and closure.
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️ development potential
2,000 sqm in lekki foreshore is ideal for:
- luxury apartment block: 15--20 high-end flats across 4--5 floors.
- terrace duplex cluster: 8--10 luxury terrace units.
- gated mini-estate: 5--7 detached or semi-detached villas.
- mixed-use development: retail/commercial ground floor + residential above (subject to approvals).
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jv structure & market context
component details
land contribution 2,000 sqm (valued at ₦1.7b)
developer role 100% construction funding
sharing ratio 50/50 of completed units/sales
title status deed of assignment -- developer to facilitate governor's consent
- per sqm benchmark: lekki foreshore land with good title typically ranges from ₦800,000--₦1.1m/sqm. at ₦850,000/sqm valuation, this offers a fair entry point.
- jv appeal: 50/50 is a balanced split in this micro-market, incentivizing quality development while rewarding landowner contribution.
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next steps for interested developers
1. letter of intent (loi) -- express interest and capacity.
2. company profile -- demonstrate track record in luxury developments.
3. proof of funds -- evidence of construction financing capability.
4. site inspection -- physical viewing of the property.
5. proposal -- preliminary development concept and financial projections.
6. meeting with owner -- direct negotiation and jv finalization.
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ideal for: established developers seeking a sizable, well-located jv opportunity in lekki phase 1's most desirable residential enclave.
a clear 50/50 jv mandate on 2,000 sqm in lekki foreshore -- ready for serious engageme...
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₦1,700,000,000
Ac Valour International
08036503218