Residential land joint venture
Attractive Land Parcel of 5305SQM on Offer
Prime Joint Venture Opportunity --- 5,305 sqm Ladipo Oluwole, Ikeja --- wemabod Title Executive summary High‑value JV opportunity on a sizeable 5,305 sqm parcel along Ladipo Oluwole, Ikeja. The land is held with a wemabod title, and the owner is offering a straight 50:50 equity split with a stated premium of ₦300,000,000. This is an ideal plot for a mid‑to‑high density residential or mixed‑use scheme of up to 12 floors in the heart of Ikeja. Facilitator's fee: 10% of the stated land value (non‑negotiable). Quick facts - Location: Ladipo Oluwole, Ikeja - Land area: 5,305 sqm - Title: Wemabod (documents available for verification) - Stated land value: ₦4,500,000,000 (Indicative ≈ ₦848,000 / sqm) - Premium: ₦300,000,000 - Proposed commercial structure: 50% --- Land Owner / 50% --- Developer - Facilitator's fee: 10% of land value (₦450,000,000 based on stated value) - Transaction: JV (owner will consider alternative developer proposals) Investment highlights - Strategic central Ikeja location with strong demand for quality residential, corporate and mixed‑use products. - Significant land size (5,305 sqm) providing flexibility for a range of schemes---terraces, blocks of flats, serviced apartments, or a mixed podium/tower configuration. - Clear commercial terms: straightforward 50:50 revenue share and a stated premium, simplifying financial modelling for prospective developers. - Wemabod title in place --- title documentation available for due diligence (verification recommended). Recommended development concepts - Mid‑rise apartment blocks or townhouse/terrace cluster of up to 12 floors targeting executives and professionals. - Serviced apartments or short‑stay product positioned for corporate tenants. - Mixed‑use development with ground‑floor retail/showroom, office floors and residential units above. - Institutional rental product (build‑to‑hold) for long‑term income investors. (Feasibility study advised to optimise density, parking, far and unit mix in compliance with Lagos State planning regulations.) Developer requirements - Proven track record of deliveries in Lagos (verifiable references and completed projects). - Demonstrable proof of funds or committed construction financing enabling immediate mobilisation. - Detailed project delivery capability including construction programme, sales/marketing plan and exit strategy. - Acceptance of the stated commercial terms (50:50 sharing and facilitator's fee). Due diligence & documentation (available / required) - wemabod title documents and evidence of ownership --- available for inspection; prospective buyers should verify at the Lands Registry. - Survey plan and site coordinates --- request originals and confirm boundaries on site. - Site inspection and confirmation of access, setbacks and existing infrastructure. - Geotechnical/soils investigation, topography and environmental checks (to be commissioned if not available). - Utility availability: power, water, drainage and telecoms --- to be confirmed. - Evidence of premium and any statutory levies, estate or government charges (owner to confirm receipts). - Developer to submit: Loi, company profile, audited accounts or bank references, proof of funds and a concise development proposal (concept, programme and basic financials). Indicative financial summary - Stated land value: ₦4,500,000,000 - Implied rate: ≈ ₦848,000 / sqm - Premium payable: ₦300,000,000 (as stated) - Facilitator's fee (10% of land value): ₦450,000,000 (payable as agreed in facilitator agreement) - Final JV economics, cost allocation and payment milestones to be formalised in Heads of Terms and the Joint Development Agreement. Transaction process & next steps 1. Submit an loi, corporate profile, recent project references and proof of funds. 2. Execute nda to receive full documentation and arrange a site inspection. 3. Technical and legal due diligence (title verification, survey, geotech, utilities). 4. Developer presents a detailed proposal (concept, programme, financing and sales strategy). 5. Agree commercial terms (Heads of Terms), draft and sign JV Agreement, then mobilise per agreed programme. Contact & submissions To express interest or to request documentation and viewing, please contact: The Build Centre Properties Ltd Important notes & disclaimer - Information provided by the owner/agent. Prospective JV partners must undertake independent legal, technical and financial due diligence and verify the wemabod title status with the appropriate authorities prior to commitment. - Facilitator's fee (10% of stated land value) is payable as part of the engagement and is non‑negotiable unless otherwise agreed in writing. - All terms are subject to contract and the completion of satisfactory due diligence.
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