Land joint venture
Proposed Development: Blocks of Flats
Joint Venture Opportunity -- Value County Estate, Ogidan, Ajah, Lagos 661 SQM (Plot 6) Close to Sky Mall Proposed: Blocks of Flats Land Value: ₦150 Million Facilitator's Fee: 10% Property & JV Overview - Location: Value County Estate, Ogidan, close to Sky Mall, Ajah, Lagos. - Plot Number: Plot 6. - Land Size: 661 SQM. - Title: To be verified (likely Governor's Consent / Estate Title). - Land Value: ₦150,000,000 (≈ ₦226,928 per SQM). - Proposed Development: Blocks of flats. - Sharing Formula: To be negotiated between landowner and developer. - Premium: Not stated. - Facilitator's Fee: 10% of property value (₦15 Million). - Status: Vacant land in a developing estate, ready for a joint venture development. Key Highlights - Prime Ajah Location: Value County Estate, Ogidan is a growing residential area close to Sky Mall -- a major shopping and commercial hub. - Clear Development Proposal: The owner proposes blocks of flats -- a high-demand housing type in the Ajah corridor. - Competitive Land Value: At ₦150M for 661 SQM, this is an attractive entry point for a JV in a developing estate. - Facilitator's Fee: 10% of property value -- standard and transparent. - Direct Instruction: Deal directly with the mandate -- streamlined process. - High Rental Demand: Ajah is a fast-expanding residential hub with consistent demand for quality flats. Development Potential - Blocks of Flats: Likely 2--3 blocks, each 2--3 storeys, comprising a mix of 2- and 3-bedroom units. - Estimated Unit Count: 12--18 flats (subject to design and estate density regulations). - Amenities: Parking, backup power, water treatment, and security. - Target Market: Young professionals, families, and investors seeking affordable yet quality housing in Ajah. Location Benefits -- Value County Estate, Ogidan, Ajah - Close to Sky Mall: A major shopping and leisure destination -- boosts rental demand and tenant convenience. - Proximity to Lekki-Epe Expressway: Easy access to Ajah, Lekki Phase 1, Victoria Island, and the wider Lekki corridor. - Growing Residential Hub: Surrounded by estates, schools, hospitals, and commercial activity. - Secure Estate Environment: Gated community with controlled access and planned infrastructure. - Future Appreciation: Ajah continues to develop, driving land and property value growth. Financial Structure - Land Contribution Value: ₦150 Million. - Premium: Not stated -- to be discussed. - Developer's Role: Provide 100% of construction financing, project management, and sales/letting. - Profit Sharing: To be negotiated -- typically based on land value vs. total development cost. - Facilitator's Fee: 10% of property value (₦15 Million), typically paid from the landowner's share upon JV execution. 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 Ajah, Lekki, or similar areas. 3. Proof of Funds -- bank statements or financing letters showing capacity for a project of this scale (construction cost estimated ₦150M -- ₦250M+). 4. Preliminary Concept Note -- initial design and timeline aligned with the blocks of flats proposal. 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, premium (if any), and title status 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. Value County Estate, Ajah JV -- 661 SQM, ₦150M Land Value, Blocks of Flats Proposal, 10% Facilitator Fee. Direct instruction -- serious developers only.
