2100SQM Land for Residential Development

Joint‑Venture Opportunity --- Residential Terrace Duplex Development, Off Alimosho Road, Egbeda Overview An attractive joint‑venture opportunity to develop a compact, high‑yield residential scheme on a secure urban parcel located off Alimosho Road, Egbeda. The 2,100 sqm site is offered with registered title and a clear development brief for ten high‑quality terrace duplex units. The sponsor seeks a development partner to deliver the scheme under a 50/50 sharing arrangement, with headline commercials set out below. Location & land particulars

• Location: Off Alimosho Road, Egbeda --- a densely populated and rapidly evolving residential corridor with strong local demand for modern family homes.
• Site area: 2,100 square metres (2,100 sqm) --- efficient footprint suitable for a low‑rise residential development.
• Title: Registered Deed of Conveyance & Land Allocation (LA) --- documentation available for verification by qualified parties.

Proposed scheme

• Development type: Low‑rise residential cluster comprising 10 terrace duplexes.
• Product positioning: Contemporary, market‑able family homes designed for owner‑occupiers and mid‑market investors seeking rental income in a high‑demand suburb.
• Typical unit features (indicative): 3--4 bedroom duplex layouts, secure parking, private outdoor space, and provision for modern finishes and utilities. Final unit specification and gfa to be agreed during detailed design.

Joint‑Venture headline terms

• Profit / equity sharing: 50/50 (as proposed). The allocation is presented as the headline split between JV partners and is subject to negotiation and formal agreement in the JV documentation.
• Land value: ₦700,000,000 (Seven Hundred Million Naira) --- vendor's valuation of the land contribution.
• Premium: ₦25,000,000 (Twenty‑Five Million Naira) --- payable in accordance with the agreed transaction mechanics.
• Facilitation fee: 10% --- payable as agreed between the parties (to be clarified in heads of terms; typically applied to the facilitation/premium element or as mutually agreed).

Commercial rationale & market opportunity

• Strategic residential demand: Egbeda and the Alimosho corridor deliver consistent demand from owner‑occupiers and rental tenants, driven by proximity to Lagos mainland activity centres and improved road connectivity.
• Efficient, high‑yield product: Terrace duplexes offer an attractive balance of deliverability, sales velocity and rental yield for mid‑market purchasers and investors.
• Scale & feasibility: The 2,100 sqm parcel supports a compact, cost‑effective delivery programme with potential for fast turnaround and attractive margin capture.

Suggested JV structures (examples) Developer‑led build‑for‑equity JV

• Land owner contributes the site as equity; developer funds and manages design, approvals and construction.
• Profit distribution 50/50 (as headline);

Indicative timeline & delivery milestones (subject to JV agreement)

• Exchange of heads of terms and execution of nda: 1--2 weeks.
• Provision of title packs and technical data: upon nda and qualification.
• Planning and approvals: 3--6 months (depending on scope and authority).
• Construction: indicative 12--18 months.

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