An attractive Joint Venture (JV) development opportunity is available on a 930sqm corner-piece property in Millennium Estate, Lekki Phase 1.

The property currently comprises an existing 5-bedroom detached house with a 2-room Boys' Quarters (BQ). The preferred arrangement is a redevelopment project, with the proposed development focused on terrace duplexes.

With its corner-piece positioning and location within a sought-after residential neighbourhood, the property presents an opportunity for an experienced developer to undertake a strategic residential redevelopment.

Property Details
Land Size: 930sqm
Property Type: Corner-piece land with existing structures
Location: Millennium Estate, Lekki Phase 1, Lagos
Title: Certificate of Occupancy (C of O)
Existing Structure: 5-bedroom detached house
Additional Accommodation: 2-room BQ
Property Value: ₦2,000,000,000 (₦2 Billion)
Proposed Development
Redevelopment of the existing property
Proposed construction of terrace duplexes
Project design and specifications subject to mutual agreement and applicable planning approvals
Joint Venture Terms
Preferred JV Structure: Redevelopment
Proposed Development: Terrace Duplexes
Premium: To be structured to facilitate the relocation of the property owner
Property Value: ₦2 Billion
Investment Opportunity

This opportunity is suited to established property developers seeking a corner-piece site in Lekki Phase 1 for a terrace housing project. The existing structures, location, and redevelopment preference provide a basis for negotiating a mutually beneficial partnership with the property owner.

Note: The sharing formula, relocation premium amount, and other commercial terms are to be agreed upon by the parties.