Prime Joint Venture (JV) opportunity in Lekki Phase 1
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Overview
An attractive Joint Venture (JV) opportunity involving a 700sqm parcel of land in the highly sought-after Lekki Phase 1 neighbourhood.
The property currently has an existing old structure, which the developer is expected to demolish to make way for a proposed residential development comprising 10 units of 2-bedroom apartments.
The landowner is offering the property on a firm 50/50 sharing arrangement, with no flexibility on the agreed sharing ratio.
Property Details
Location: Lekki Phase 1, Lagos
Land Size: 700sqm
Existing Structure: Old building to be demolished by the developer
Title: Governor’s Consent
Land Value: ₦1,300,000,000 (₦1.3 Billion)
Joint Venture Terms
Proposed Development: 10 units of 2-bedroom apartments
Sharing Ratio: 50/50 — non-negotiable
Premium: ₦180,000,000 (Asking)
Facilitator’s Fee: 10%
Survey: To be released after property inspection
Investment Opportunity
This opportunity is suited to developers seeking to undertake a residential apartment project in Lekki Phase 1. The proposed 10-unit development offers a clear starting concept, with the landowner maintaining a firm 50/50 sharing arrangement.
The developer will be responsible for demolishing the existing structure, with further property documentation, including the survey, to be made available after inspection.
