Land joint venture
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Joint venture partnership at bourdillon road, ikoyi, lagos. Prospective partner: A proven capable financier and developer for the construction of high-density/high-rise top notch luxury apartments. Plot size: 4417 SQM. Title: Federal Government Certificate of Occupancy. Value of the land: N4.5 million Naira per sqm. Type of Development: High density/high-rise mix of 50 units. 30 units of 4 bedroom apartment. 16 units of 5-bedroom apartments. 4 units of 5 bedroom penthouse. Height: 28 floors or more permissible by lasg building authorities but without crowding... Architects: Paradigm/Rumis. (Developers may present their architects & designs but if both parties disagree on the designs, it will be outsourced to Paradigm/Rumis.). Construction firm: Elalan, Cappa & D'Alberto, etc. In-house builders will be considered if the standard/portfolio (in Ikoyi) matches those of the preferred contractors. Sharing formula: Developer 64%, Landowner 36%. Premium: N1.3B net. Proof of availability of funds to start & finish the project (eg., Bank statement or guarantee or whatever the institution you plan to use). Detailed finishing documents: landowners will provide detailed finishing documents to be applied to their units & common areas if finishing documents by the JV partner is not mutually agreed upon. Facilitators' fee: 10% of land value (slightly negotiable).