Land in Ilupeju, Lagos Price range ₦20,000,000 and below

Notice: *direct developer communication only* (no agents- no mandates) listing title development lease (bot) --- 500 sqm, macathy street, ilupeju estate term: 20‑year lease overview prime build‑to‑operate‑transfer (bot) development lease opportunity in ilupeju estate, lagos. a 500 sqm plot on macathy street is offered on a 20‑year lease for a developer to construct a mid‑rise block of flats (flexible unit mix). the proposal requires a well‑designed scheme with adequate parking and sensible density --- not overcrowded. construction period: 12- 18 months. premium: ₦6,000,000. faacilitation fee: ₦10,000,000. property summary - opportunity type: development lease (bot) --- lease, build, operate and transfer framework - location: macathy street, ilupeju estate, lagos - land area: 500 sqm - lease term: 20 years - upfront premium: ₦6,000,000 - construction period (proposed): 12-18 months from commencement - design brief: block of flats --- unit numbers flexible but must avoid overcrowding; scheme must provide adequate parking and amenity space - facilitation fee: n10,000,000 (fixed) - availability: by agreement following heads of terms and deposit development proposition this bot lease is ideal for experienced developers and investors seeking short‑to‑medium term cashflow from a managed residential asset in ilupeju estate, with the asset reverting to the landowner at lease expiry. the compact 500 sqm site supports a well‑planned mid‑rise block delivering quality flats targeted at professionals and corporate renters, provided design respects estate character and parking standards. why this opportunity is attractive - strategic location: ilupeju estate is an established residential/commercial node with excellent connectivity to ikeja, apapa and lagos mainland markets. - short construction cycle: 12‑18 month construction window supports quick operational ramp‑up and revenue generation. - low premium: ₦6m upfront premium reduces initial capital outlay relative to outright purchase. - flexible design: developer can propose unit mix (e.g., 1‑ & 2‑bed flats or a mix including 3‑beds) to match market demand while ensuring adequate parking and open space. - bot structure: enables developer to operate and monetise the asset during the lease term, with clear exit at transfer. design & planning brief (key requirements) - block of flats across appropriate storeys (subject to estate/local planning regulations) --- number of flats flexible but density must be reasonable and consistent with ilupeju estate character. - adequate on‑site parking provision (minimum required by lagos planning codes and estate rules) plus visitor parking. consider basement/ground parking or efficient stack/marked bays. - provide appropriate setbacks, landscaping and refuse management areas. - ensure adequate water and power provisions (borehole, overhead tank, generator/es) in design for reliable operations. - fire safety, access for emergency vehicles and waste disposal must be included in design. - compliance with estate covenants and lagos state planning/approval processes required. suggested commercial/lease structure (examples to negotiate) - lease term: 20 years (fixed) with defined construction milestone schedule and handover process. - premium: ₦6,000,000 payable upfront - rent/royalty: depending on bot terms, a recurring rent, revenue share or service charge may be agreed during the operating phase. - transfer: full transfer of the completed building to landowner at lease expiry or earlier if agreed. - performance guarantees: bank guarantees/retention for construction defects and compliance; insurance cover during construction and operation. - exit and extension: option to negotiate right of first refusal for lease extension or purchase at pre‑agreed terms (optional). due diligence & documentation checklist (recommended) - confirm land title and authority to grant a development lease (certificate of occupancy or other title documents). - obtain site survey/plan and confirm exact 500 sqm boundaries. - request estate rules, deed covenants and any restrictive conditions for ilupeju estate. - clarify statutory planning parameters (permissible height, coverage, parking standards) with lagos state planning authority. - verify availability of utilities (power, water, drainage) and connection costs. - review environmental/site condition and geotechnical report if available. - confirm tax, rates and any outstanding liabilities on the land. commercial terms & approvals to finalise - detailed heads of terms including premium payment schedule, construction milestones, facilitation fee- n10m, insurance, defect liability and handover conditions. - construction programme and approved design & specifications to be agreed prior to commencement. - security/guarantee mechanisms for timely delivery and compliance. - approval process with estate management and lagos state planning authority to secure necessary permits. next steps --- how to proceed 1. submit expression of interest (eoi) with company profile, sample deliverables and relevant development track record. 2. request full property dossier and certified title/survey documents. 3. arrange site inspection and meeting with the landowner/estate representatives. 4. prepare preliminary concept design and projected construction programme for discussion. 5. negotiate and sign heads of terms, pay agreed premium/agency fee, then commence statutory approvals and construction mobilization. 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* ref: ak...